Vessel Traffic Management System Market: Drivers
The vessel traffic management system market is driven by enhanced port and harbor security and safety. VTMS helps in maintaining the security and safety of vessels. It also helps enforcement agencies in identifying vessels potentially dangerous vessels. Therefore, the advantages of VTMS make it crucial in the efficient management of harbor operations.
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Vessel Traffic Management System Market: Segmentation Analysis
The vessel traffic management system market has been segmented by end-user (commercial and military) and geography (APAC, Europe, North America, MEA, and South America).
By end-user, the commercial segment of the vessel traffic management system market is expected to have significant market share growth during the forecast period. Companies are adopting VTMS to protect maritime resources.
By geography, APAC is expected to account for 45% of the market's growth during the forecast period, with China and Japan being the key countries. The economic growth of countries such as Japan, China, and Indonesia will drive the growth of the vessel traffic management system market in APAC during the forecast period.
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Some of the key topics covered in the report include:
Market Challenges
Market Drivers
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Vessel Traffic Management System Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.61% |
Market growth 2022-2026 |
USD 533.83 million |
Market structure |
Fragmented |
YoY growth (%) |
3.93 |
Regional analysis |
APAC, Europe, North America, MEA, and South America |
Performing market contribution |
APAC at 45% |
Key consumer countries |
US, China, Germany, UK, and Japan |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Elcome International LLC, HENSOLDT AG, Indra Sistemas SA, Kongsberg Gruppen ASA, Leonardo Spa, Rolta India Ltd., Saab AB, Thales Group, Tokyo Keiki Inc., and Wartsila Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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SOURCE Technavio
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