Discover Global Vessel Traffic Management Industry-2018, Upcoming Trends, Growth, Size– Forecast to 2023

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Vessel Traffic Management Industry, Equipment,
Information System,
Opportunities, Service Global Forecast by 2023
The Vessel Traffic Management Industry is
estimated at USD 2.81 Billion in 2017 and is
projected to reach USD 4.12 Billion by 2023, at a
CAGR of 7.50 from 2018 to 2023.The base year
considered for the study is 2017 and the forecast
period is from 2018 to 2023. Objectives of the
Study The report analyzes the vessel traffic
management Industry on the basis of component,
(equipment, solutions, and service). Equipment is
further segmented into communication (VHF
communication, RF communication, microwave
network, HMI, servers), navigation (radars, AIS,
direction finders), and surveillance monitoring
(sensors, CCTV surveillance cameras, UAVs).
Similarly, the solution segment is further
segmented into sensor integrator, routing
monitor, e-navigation, and multi sensor tracker.
The service segment is further segmented into
maintenance and operating service (information,
traffic organization, navigation advice and
assistance). The vessel traffic management
industry by investment is segmented into
brownfield and greenfield. Brownfield and
greenfield are further segmented into public
sector and private sector projects.
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https//www.marketsandmarkets.com/Market-Reports/v
essel-traffic-management-market-
226816165.html By systems is segmented into port
management, and information systems, global
maritime distress safety systems, river
information systems, and AtoN management health
monitoring systems. By end user is segmented
into commercial (inland port, port harbor,
fishing port, and offshore) and defense sectors.
These segments and subsegments have been mapped
across major regions, namely, North America,
Europe, Asia Pacific, Middle East, Africa, and
Latin America. The report provides in-depth
market intelligence regarding the market dynamics
and major factors influencing the growth of the
vessel traffic management industry(drivers,
opportunities, and industry-specific
challenges), along with an analysis of
micromarkets, with respect to individual growth
trends, prospects, and their contribution to the
overall market. The report also covers
competitive developments, such as long-term
contracts, partnerships, expansions, new product
launches, agreements, and research development
activities in the vessel traffic management
market, in addition to the business and corporate
strategies adopted by key market
players. Download PDF Brochure _at_
https//www.marketsandmarkets.com/pdfdownload.asp?
id226816165 Asia Pacific is estimated to lead
the vessel traffic management Industry in 2018
and is projected to continue to lead during the
forecast period owing to the rise in port
expansion and port development projects. The
vessel traffic management industry in the Asia
Pacific is projected to grow at the highest CAGR
during the forecast period, owing to the
increasing sea transport, and government
involvement in coastal and port security. High
cost of the Vessel Traffic Management (VTM)
equipment and installment, and maintenance on
yearly basis is restraining exponential market
growth. Major companies across the globe
providing vessel traffic management systems are
Kongsberg Gruppen (Norway), L3 Technologies
(US), Transas (Ireland), Saab AB (Sweden), Thales
Group (France), Rolta India (India), Japan Radio
Co. Ltd. (Japan), Frequentis (Austria), TERMA
(Denmark), Tokyo Keiki Inc. (Japan), Indra
Sistemas (Spain), Leonardo Finmeccanica (Italy),
and Kelvin Hughes (UK). New product developments,
acquisitions, and contracts are the major
strategies adopted by these players to retain
their positions in the market. About
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