Market Overview:
In addition, the global Automatic Identification System Market is expected to increase at a CAGR of 4.2%, with a significant value during the estimated forecasting year of 2022-2027.
Vessel traffic services employ the automated identification system, an automatic tracking system that uses transceivers aboard ships to track the vessel, automatically preventing any accident. It is intended to provide two-way communication between vessels and coastal authorities on land. Other nearby ships, as well as nearby coastal authorities, may get static, dynamic, and journey data on one ship from the system. Additionally, AIS technology offers data that is presented on the screen, including unique identification, course, speed, and position.
By enabling maritime authorities to detect and monitor vessel movements, this device is intended to help a ship’s officer. Additionally, activities in the very high frequency mobile marine band use the broadcast transponder system that is available and incorporated with these AIS. A standardised VHF transceiver, a positioning system like a GPS receiver, and extra electronic navigation sensors like a gyrocompass or a rate-of-turn indicator are all included in this automated identification system. The fact that these systems are fully automated and do not require human input is another factor in their widespread adoption.
List of Key Companies Covered in this Report
- exactEarth Ltd. (Canada)
- Kongsberg Gruppen ASA (Norway)
- SAAB AB (Sweden)
- Furuno Electric Co. Ltd. (Japan)
- L-3 Communication Holdings Inc. (US)
- Orbcomm Inc. (US)
- True Heading AB (Sweden)
- Garmin International (Switzerland)
- CNS Systems AB (Switzerland)
- Japan Radio Co., Ltd. (Japan)
COVID-19 Analysis
The emergence of the COVID-19 pandemic sent shockwaves through the global automatic identification system market, causing a steep decline in the market’s growth. Much of this can be owed to largely affected global maritime transport and associated international supply chains. The unprecedented disruption caused by the pandemic led to declining cargo volumes and crippling growth prospects, thereby negatively affecting supply chains and shipping ports & networks. To contain the economic damage caused by the pandemic, the container shipping industry decided to focus on maintaining profitability rather than gaining market share. At the peak of the pandemic crisis, the cargo volumes contracted, thereby bringing in additional challenges and imbalance to the shipping industry. By reducing cargo capacity and cutting costs, the shipping industry was able to maintain profitability. As a result, the transport rates remained stable despite the declining demand. However, there were acute space limitations for transporting goods and delivery delays. To deal with the disruptions caused by the pandemic, several other changes were made, including adjustments in operations & finances and working procedures.
Despite the COVID-19 crisis, the outlook remains positive and constrained by several factors, such as the COVID-19 curve, vaccination rate, and economic recovery. In addition, governments across the world are working in close collaboration with the vaccine manufacturers for rapid vaccine rollout. With these constraints being short-term in nature and the long-term growth drivers still being relevant, the AIS industry is expected to bounce back to pre-pandemic growth levels in a couple of years. Therefore, the COVID-19 impact on the global automatic identification system market is expected to be short-term and recover in the next couple of years.
Segment Overview
Increasing Demand for AIS Application Specific Messages to Drive the Market Growth for Class A AIS
The global automatic identification system market based on class has been segmented into Class A and Class B.The class A segment accounted for the largest market share in 2020. The class A AIS is used for AIS application-specific messages, such as meteorological and hydrological data, electronic broadcast notices to mariners, and other marine safety information.
Rising Incorporation of AIS-Based Advanced Systems to the Marine Vessels to Create Strong Demand for Vessel-Based AIS
Based on platform, the global automatic identification system market is segmented into vessel-based and onshore-based. The vessel-based segment dominated the automatic identification system market in 2020, owing to the advanced features offered by AIS to the marine vessels.
. Therefore, Asia-Pacific automatic identification system market is expected to dominate the global market during the forecast period.
Regional Analysis
Increasing Freight Activities and Marine Tourism to Drive the Growth of the North America AIS Market
The North American automatic identification system market is driven by factors such as increasing freight activities and the growing marine tourism industry in the region. Additionally, the region stands second among all the regions in terms of global oil production and consumption, which is responsible for large-scale freight activities in the region.
Moreover, the regions characterized by the presence of some major automatic identification system solution providers, such as L-3 Communication Holdings Inc. and Orbcomm Inc., which, in turn, is fuelling the growth of the regional market.
Rising Demand for Advanced Naval Vessels and Booming Intra-region Maritime Transport to Help APAC Dominate the Global AIS Market
Asia-Pacific accounted for the largest market share in 2019. The regional market is also projected to register the highest CAGR during the forecast period. The region has witnessed a rise in the demand for advanced naval vessels over the past decade. Additionally, the intra-region maritime transport industry has been growing at a robust growth rate.
Moreover, the region has the highest share in global oil consumption and is among the largest oil producers. Additionally, China has the largest number of vessels, with over 5,000 commercial ships of 1,000 gross tons and more. Many of these ships are employed in domestic trade. Similarly, Indonesia owns a large number of ships, most of which are used for inter-island and coastal transport. As a result, the shipping industry in the region has been growing at a significant pace.
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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