Product ID: SQMIG45E2117
Global Automatic Identification System Market Size, Share, Growth Analysis, By Type(Class A, Class B), By Application(Vessel Tracking and Monitoring, Collision avoidance) - Industry Forecast 2024-2031
Report ID:
SQMIG45E2117 |
Region:
Global |
Published Date: March, 2024
Pages:
197
|
Tables:
67 |
Figures:
75
Global Automatic Identification System Market Insights
Global Automatic Identification System Market size was valued at USD 53.56 billion in 2022 and is poised to grow from USD 59.83 billion in 2023 to USD 144.98 billion by 2031, growing at a CAGR of 11.70% during the forecast period (2024-2031).
Global Automatic Identification System (AIS) market has experienced significant growth in recent years and is expected to continue expanding in the foreseeable future. AIS technology, which enables the automatic tracking and monitoring of vessels, has become crucial in enhancing maritime safety, security, and efficiency. One key market insight is the increasing adoption of AIS in the commercial shipping industry. With the rising demand for efficient logistics and supply chain management, AIS provides real-time vessel tracking, enabling companies to optimize routes, improve operational efficiency, and ensure timely delivery of goods. The mandatory implementation of AIS by regulatory authorities in many regions further drives market growth. Another important trend is the emergence of satellite-based AIS solutions. Satellite-based AIS overcomes the limitations of traditional VHF-based systems by extending coverage to remote areas and enabling global vessel tracking. This technology has gained traction in maritime surveillance, search and rescue operations, and monitoring of illegal fishing activities. The demand for satellite-based AIS is expected to rise as maritime authorities and defense organizations seek comprehensive maritime domain awareness capabilities.
The defense and security sector also presents significant opportunities for the AIS market. Governments worldwide are investing in advanced maritime surveillance systems to safeguard national borders, counter maritime threats, and combat illegal activities. AIS plays a critical role in enhancing situational awareness and enabling effective response measures. As a result, AIS providers are focusing on developing robust solutions tailored to defense and security applications. Geographically, the Asia Pacific region is expected to witness substantial growth in the AIS market. The region's expanding maritime trade, increasing port activities, and stringent regulatory norms for vessel safety and security contribute to the market's growth. Additionally, the rising investments in port infrastructure development and the growing awareness of AIS benefits drive the adoption of AIS technology in the region.
US Automatic Identification System Market is poised to grow at sustainable CAGR for the next forecast year.
Global Automatic Identification System Market Report Snapshots
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