Automatic Identification System Market Projected to Exceed US$ 491 Million by 2032 Driven by Demand for Enhanced Security in Marine Navigation
Governments worldwide are mandating the integration of the automatic identification system in vessels to enhance their safety and security and keep track of their movement. This is expected to drive significant growth in the Asia Pacific and Europe regions, boosting the automatic identification system market.
New York, April 10, 2023 (GLOBE NEWSWIRE) -- According to Market.us, The Global Automation Identification System Market Size is expected to exceed USD 491.0 Million by 2032. It was USD 278.2 Million in 2022. It is forecast to grow at a CAGR of 6.0% between 2023 and 2032.
Automatic identification systems are mainly used in vessels for tracking, maritime security, fleet management, and many other uses. It provides navigation and safety routes to the vessels. It is a tracking and monitoring system that uses various components like transponders on ships to identify the other vessels in the area.
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Key Takeaway:
By Class, class A leads the market with a major share of the account.
By Platform, vessel-based AIS dominates over the on-shore AIS platform.
By Application, an automatic identification system is mainly used for vessel tracking.
Asia Pacific held a revenue share of approximately 32.6% in 2022
The Europe market is anticipated to grow significantly during the forecast period.
The wide usage of automatic identification systems in the marine industry for performing their operations by providing all the needed information like course speed, vessel position, and unique identification on the display and radar of the service provider. These factors are driving the growth of the automatic identification system. Moreover, the increasing number of vessels in marine is raising the demand for traffic control systems and navigation systems to properly navigate the vessels and ensure their safety of the vessels. These factors are driving the growth of the automatic identification system market.
Factors Affecting the Growth of the Automatic Identification System Market
Several factors can affect the growth of the automatic identification system market. Some of these factors include:
Increasing Maritime Traffic: With rising trade between the countries through the sea route, the number of vessels is rising in the sea. And this is leading to traffic congestion in the sea and near ports. Therefore, to avoid this, many vessels and authorities use automatic identification systems to control the traffic.
Rising Accidents and Collisions: The increasing maritime traffic is leading to accidents and collisions in the sea. The increased trade through sea routes in the last few years has led to many incidents of collision between the vessels and the ports. To avoid such accidents, vessels are integrating the AIS into their operations.
Increasing Vessel Dwell Time: Many ports are using the automatic identification system to control the management of vessel dwell. The increased trade activities in the last few years have resulted in the congestion of vessels at the port. Therefore, port authorities are using the automatic identification system to manage the vessel dwell.
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Top Trends in Automatic Identification System Market
The rising need for the security and safety of the vessels is demanding the use of an automatic identification system. This has driven the AIS market significantly in the last few years. This is due to the increasing international maritime trade activities and expanding naval sector leading to a rise in the marine traffic in the sea and near the port. Many governments have implemented strict rules and regulations related to sea vessels. Every vessel has to comply with the rules and regulations set by the government of the region. Many governments have made it mandatory to integrate the automatic identification system in the vessels to ensure the safety and security of the vessel and to keep track of the vessel. This is boosting the growth of the automatic identification system market.
Market Growth
The rising trade between the countries through the sea route is increasing the demand for more vessels in the sea. And this is leading to traffic congestion in the sea and near ports. Therefore, to avoid this, many vessels and authorities use automatic identification systems to control the traffic. This increasing maritime traffic is leading to accidents and collisions in the sea. The increased trade through sea routes in the last few years has led to many incidents of collision between the vessels and the ports. To avoid such accidents, vessels are integrating the AIS into their operations. Also, many ports are using the automatic identification system to control the management of vessel dwellings. The increased trade activities in the last few years have resulted in congestion of vessels at the port. Therefore, port authorities are also using the automatic identification system to manage the vessel dwell. These factors are boosting the growth of the automatic identification system market.
Regional Analysis
The Asia Pacific region dominates the global automatic identification system market with a major revenue share of 32.6%. The growth of the Asia Pacific region is owing to the presence of a major exporting country like China. China exports most of its goods and services across the world. Therefore, the shipping industry of China is one of the biggest in the world. The well-developed shipbuilding industry in the Asia Pacific region and especially in the country like China increasing the use of automatic identification systems in the region. These factors are increasing the growth of the Asia Pacific region in the global automatic identification system. Europe region is also expected to experience significant growth over the forecast period. The increasing investments in the innovation and development of the ship projects are boosting the growth of the automatic identification system market in the Europe region.
Competitive Landscape
The competitive landscape of the market has also been examined in this report. Some of the major players include Furuno Electric Co. Ltd, Saab AB, Japan Radio Co. Ltd., ExactEarth Ltd, C.N.S. Systems AB, True Heading AB, ComNav Marine Ltd, Kongsberg Gruppen ASA, Garmin Ltd, L3 Technologies Inc., Orbcomm Inc., and other key players.
Recent Development of the Automatic Identification System Market
In August 2022, Saab AB received the order for production of the Advanced Training Aircraft Fuselage Systems.
In September 2021, Spire Global acquired ExactEarth Ltd for USD 161.2 million. After the completion of the deal, ExactEarth will be fully owned by Spire Global.
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Scope of the Report
Report Attribute | Details |
Market Value (2022) | USD 278.2 Million |
Market Size (2032) | USD 491.0 Million |
CAGR (from 2023 to 2032) | 6.0% |
Asia Pacific Revenue Share | 32.6% |
Historic Period | 2016 to 2022 |
Base Year | 2022 |
Forecast Year | 2023 to 2032 |
Market Drivers
Traffic control has become a difficult job to operate due to The rising traffic issues in the sea and near the port, which has led to many problems with the sea and the ports. This increasing traffic due to vessels is leading to traffic congestion, collision, and accidents among the vessels. Numerous accidents and collisions of ships have resulted due to the lack of proper traffic control systems and navigation systems, which lead to misguiding instructions from the port authorities and miscommunication between the nearby vessels. To prevent all these concerns, many vessels, and port authorities are adopting the automatic identification system. Moreover, many ships carry cargo across various regions. And to keep track of the cargo loaded on the vessels, many businesses use the automatic identification system to monitor and track the position of the shipment. These uses of automatic identification systems are fuelling the growth of the automatic identification system market.
Market Restraints
The increased use of the automatic identification system across the vessels is generating a huge amount of data to be stored in the computer systems. The vessels are generating a tremendous amount of signals refreshing every second. And with each vessel, the data generated from the automatic identification system is also rising to store in the systems. This restricts the system from storing massive amounts of data on the systems and thereby obstructing the growth of the automatic identification systems market. Also, the signals produced by various vessels at a specific bandwidth have started to crowd in the sea and near the ports, this is resulting in the disappearance of the vessel on the radar. This can cause serious problems like accidents and collisions of the vessels. These factors are obstructing the growth of the automatic identification system market.
Market Opportunities
The automatic identification system is based on tracking systems used by the vessels that have rapidly developed in the last few years. Many companies and businesses are heavily investing in the innovation and development of upgraded versions of the automatic identification system. This is anticipated to create many lucrative opportunities in the automatic identification system market. Furthermore, the growth of autonomous vessels in the market is expected to create many lucrative opportunities in the global automatic identification system market.
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Report Segmentation of the Automatic Identification System Market
Class Insight
Class A dominates the class segment of the automatic identification system. The growth of the class A segment is due to the strict implementation of class A of the automatic identification system by the International Maritime Organization (IMO). According to the rules of IMO, vessels of 300 gross tonnages and more were allowed to engage in the voyage, while vessels with 500 gross tonnages and more were not allowed on international voyages. The increasing maritime trade across the world is boosting the growth of the class A automatic identification system. Additionally, the class B automatic identification system is also anticipated to grow moderately during the forecast period. Class B of AIS includes small commercial vessels and recreational vessels for trade.
Platform Insight
The vessel-based platform dominates over the on-shore platform of the automatic identification system. The vessel-based platform is anticipated to grow at a significant CAGR over the forecast period. The growth of the vessel-based automatic identification system is due to the increased maritime and naval trading activities across the globe. With increasing trade across the countries through maritime and naval routes, the adoption of the automatic identification system on ships has also increased. Also, the development of autonomous ships has built-in automatic identification systems in the vessels. These factors are boosting the growth of the on-vessel automatic identification system.
Application Insight
The vessel tracking application of AIS dominates the application segment of the automatic identification system market. The vessel tracking is mostly done by the use of the automatic identification system in most of the vessels. The main purpose of vessel tracking is to track the activity of the vessel at every movement and ensure the safety and security of the vessel by guiding the vessel through proper routes and warning about the nearby vessel. The borderline traffic control authorities mostly use the AIS for traffic control of the vessels. These factors are driving the growth of vessel tracking in the application segment of the automatic identification system market.
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Market Segmentation
Based on Class
Class A
Class B
AIS Base stations
Based on Platform
Vessel based
On-shore
Based on Application
Fleet Management
Vessels Tracking
Maritime Security
Other Applications
By Geography
North America
The US
Canada
Mexico
Western Europe
Germany
France
The UK
Spain
Italy
Portugal
Ireland
Austria
Switzerland
Benelux
Nordic
Rest of Western Europe
Eastern Europe
Russia
Poland
The Czech Republic
Greece
Rest of Eastern Europe
APAC
China
Japan
South Korea
India
Australia & New Zealand
Indonesia
Malaysia
Philippines
Singapore
Thailand
Vietnam
Rest of APAC
Latin America
Brazil
Colombia
Chile
Argentina
Costa Rica
Rest of Latin America
Middle East & Africa
Algeria
Egypt
Israel
Kuwait
Nigeria
Saudi Arabia
South Africa
Turkey
United Arab Emirates
Rest of MEA
Market Key Players:
Japan Radio Co. Ltd.
Saab AB
ExactEarth Ltd
True Heading AB
C.N.S. Systems AB
ComNav Marine Ltd
Garmin Ltd
Kongsberg Gruppen ASA
Furuno Electric Co. Ltd
L3 Technologies Inc.
Orbcomm Inc.
Other Key Players
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