Vessel Traffic Management System Market Showcases Future Status during 2018-2027
Posted by Trends Market Research on May 9th, 2019
The Vessel Traffic Management system is open, flexible, and contains modular architecture, which gives a scope to upgrade the system by utilizing computer and communication systems. The VTMIS system is evolved on the basis of client-server architecture, where the server offers services to clients who are disconnected from the server. The client and server are independent of each other.Additionally, the VTMS is comprised of various information system, which is integrated, processed, and correlated with each other. Various information system includes radars, automatic identification system, direction finders, port management & information system, electro-optical systems, and surveillance networks sharing radar and AIS data. These system requires frequent solutions and services to remain operative in maritime transports.The market for telecom order management has generated approximately USD xx million in 2017 and it is expected that the market will grow at xx% CAGR, the market size by 2027 will be USD xx million.
Increasing demand for the implementation of technologies, such as Global Navigation Surveillance Systems (GNSS), e-navigation, cloud computing, Internet of Things (IoT) in busy commercial ports is one of the key factors driving the vessel traffic management market. High cost of the Vessel Traffic Management (VTM) equipment and instalment is a factor restraining the exponential growth of the VTM market.
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The Vessel Traffic Management System market is dominated by a few global players, and comprises several regional players. Some of the key players operating in the Vessel Traffic Management System ecosystem are Kongsberg, L3 Communication, Transas, Saab AB, Thales, Rolta India, Japan Radio Co. Ltd., Frequentis, TERMA, Tokyo Keiki Inc., Indra, Leonardo Finmeccanica, and Kelvin Hughesand other.
Vessel Traffic Management System market is segmented based on Component, End-user, Systems and geography.Vessel Traffic Management System market is segmented into North America, Europe, Asia-Pacific and Middle East & Africa, Latin America. By region, Europe is expected dominated the Vessel Traffic Management System market. The United Kingdom, France, Italy, and Germany are expected to be the leading countries in the region. This is attributed to the presence of large number of manufacturers in the region. Asia Pacific is also anticipated to be the fastest growing region in the vessel traffic management system market over the forecast period. India, Japan, and China are the leading countries in the vessel traffic management system market, owing to the rise in number of defence deals with the European market.
Market segmented on the basis of systems:
- Port Management Information Systems
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Market segmented on the basis of End-user:
Market segmented on the basis of component:
Market segmented on the basis of region:
- North America
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