Global automatic identification system market to reach USD 266.7million by 2027
Market Forecast
The global automatic identification system market is projected to reach USD 266.7million by 2027 and register a CAGR of 4.2% between 2019 and 2027. The growth in the seaborne trade and maritime tourism industry globally is driving the growth of the market. Furthermore, improved navigation and maritime traffic management are fueling the growth of the market. Growing Demand for AEROSPACE & DEFENSE Across the Globe is Expected to Boost the Demand for Automatic Identification System Market During the Forecast Period 2027
Market USP
Increasing demand for advanced maritime traffic management solutions.
Growth Opportunities in the Market
Class A segment expected to register high growth: The class A segment accounted for the largest market share in 2019 and is expected to exhibit a high CAGR during the review period. The high usage of class A AIS for maritime traffic management is driving the growth of this segment.
Vessel-based platform segment expected to register a high growth rate: The vessel-based platform segment accounted for the largest market share in 2019.The increasing deployment of AIS on marine vessels is driving the growth of the segment.
Fleet management segment expected to register a higher growth rate: The fleet management segment is expected to exhibit a high CAGR during the review period. Increasing investments by the marine vessel operators on the advanced technologies for managing their vessels drive the growth of this segment.
Key Players
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- Exactearth (Canada)
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- Kongsberg Gruppen ASA (Norway)
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- SAAB AB (Sweden)
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- Furuno Electric Co. Ltd (Japan)
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- L-3 Communication Holdings Inc. (US)
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- Orbcomm Inc. (US)
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- True Heading AB (Sweden)
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- Garmin International (Switzerland)
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- CNS Systems AB (Switzerland)
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- Japan Radio Company Ltd (Japan)