Marine traffic management solutions provide real-time information on the movement of ships and the current location of ships in harbors and ports. Marine traffic management solution enable efficient operation of ports, and safe management and enhanced efficiency of traffic on waterways. Additionally, it protects the environment, supports law enforcement and coast guards, performs underwater surveys, and performs precise navigation.
Marine traffic management solutions offer safety, security, and protection of the environment. This factor drives the market. These solutions support planning, traffic monitoring, environmental protection, automatic identification, and coastal security. Moreover, advancements in the IT and telecommunication industry have created strong growth potential for all other industry verticals. Emergence of IoT (Internet of Things), connected devices, machine learning, deep packet inspection, and augmented and virtual reality is expected to fuel the market growth over the forecast period. As the marine industry is generally heavily regulated by environmental, safety and nuclear legislation, fluctuations in governments can hamper the market growth. Growth in autonomous ships is expected to create significant opportunities for the market over the forecast period.
The global marine traffic management solutions market can be segmented based on type, component, end-user, and region. The marine traffic management solutions market can be divided based on type into surveilled and non-surveilled. The marine traffic management solutions market can be categorized based on component into software and professional services. The software component can be classified into port management, monitoring, platform protection, Secure AIS Data Communications, pilotage management, geomatics (navigation solution), and others (Information Systems). The geomatics component is important in difficult navigational or meteorological circumstances or in case of defects or deficiencies. Professional services can be classified into installation & integration, auditing & consulting, and support & maintenance. In terms of end-user, the marine traffic management solutions market can be segmented into commercial and defense. The commercial end-user segment is estimated to account for the largest market share during the forecast period due to rising security in ports & harbors, inland waterways, and offshore platforms.
Based on region, the global marine traffic management solutions market can be segmented into North America, South America, Europe, Asia Pacific, and Middle East & Africa. Europe is expected to dominate the market during the forecast period. The U.K. is expected to register significant growth rate due to rising focus on expanding marine capabilities, and expand the international customer base in naval and commercial shipping markets. The marine traffic management solutions market in Asia Pacific is expected to expand at the highest rate over the forecast period due to presence of countries such as India, China. The marine traffic management solutions market in India is expected to grow at a significant rate as the Indian telecommunications network is the third largest network in the world. Moreover, the industry is projected to grow at a speed of 46%-50% in the near future. This rapid growth is due to various proactive decisions of the Indian government for the telecommunication industry. Middle East & Africa and South Africa are expected to create moderate incremental opportunities in marine traffic management solutions over the forecast period.
With demand for emerging technologies such as IoT, machine learning, and connected vehicle solutions, companies in the marine traffic management solutions market focus on development of advanced solutions with far more capabilities and enhanced performance, thus enhancing safety. Besides, marine traffic management solutions market players now provide traffic management software integrated with machine learning and AI based technologies. Companies offer both subscription and perpetual pricing model for marine traffic management solutions.
Companies in the marine traffic management solutions market are focusing on expanding their business through strategic partnerships and collaboration. Technological developments in networking also increases competitiveness. Key companies operating in the global marine traffic management solutions market are Leonardo – Societa per azioni, Saab AB, Transas, GEM elettronica, Kongsberg Gruppen, Vissim AS., Terma A/S, Thales Group, Kongsberg Gruppen, Indra Sistemas, S.A. and others
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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