Asia Pacific Maritime Real-time Positioning System Market Growth and Recent Trends by 2027

The APAC maritime real-time positioning system market is expected to grow from US$ 35.19 million in 2019 to US$ 371.22 million by 2027; it is estimated to grow at a CAGR of 34.7 % from 2020 to 2027.

The Australia, China, India, Japan, and South Korea are major economies in APAC. Advent of advanced technologies is expected to accelerate the APAC maritime real-time positioning system market. The advent of the newer and advanced technologies in the maritime industry is creating new growth avenues for the APAC market. Some of upcoming developments include digital twins that create a twin of the vessel and help in simulating all the performance indications, integration of other data sources including AIS, weather, cargo data, etc. Similarly, the development of e-navigation and route planning is expected to influence many of the aspects of the industry covering emission efficiency and autonomous shipping. Lastly, next-generation voyage management systems are projected to develop new growth avenues in the industry. Some of the feature of these systems include provide voyage estimates, integrated system for mails, fully hosted cloud solutions etc. So the development of advanced technologies is expected to drive the APAC maritime real-time positioning system market.

Furthermore, in case of COVID-19, APAC region is highly affected specially the China and India. The APAC region is characterized by the presence of many developing countries with growing industrial sector and rising population. The growing urbanization and industrialization level in the APAC region makes it a promising market for the growth of maritime trade. Moreover. China is a major consumer and producer for many key industries including automotive, electronics & semiconductor, commodities, and agricultural products. The interruptions in movement, flow and storage of goods due to COVID-19 outbreak have affected the overall logistics and transportation industry growth in this region which has also affected the APAC maritime real-time positioning system market growth. Disruption in supply chain has reduced the number of fishing vessels during the pandemic situation, which will negatively impact the installation of the positioning systems in existing fishing vessels hence affecting the APAC maritime real-time positioning system market growth. Also, temporary shutdown of manufacturing units has decreased the procurement of fishing, cargo, and other vessels which has affected the APAC maritime real-time positioning system market negatively.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC maritime real-time positioning system market. The APAC maritime real-time positioning system market is expected to grow at a good CAGR during the forecast period. 

APAC Maritime Real-time Positioning System Market Segmentation

 
APAC Maritime Real-time Positioning System Market – By Component

• Hardware

• • Readers and Trackers
  • Tags/Badges
  • Others

• Software
• Services

APAC Maritime Real-time Positioning System Market – By Technology

• RFID
• GPS
• Others

APAC Maritime Real-time Positioning System Market – By Application

• Fleet Management
• Inventory and Asset Management
• Crew Tracking

APAC Maritime Real-time Positioning System Market – ByVessel Type

• Fishing Vessels
• Cargo Vessels
• Service Vessels
• Passenger Ships and Ferries
• Others

APAC Maritime Real-time Positioning System Market, by Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of APAC          

APAC Maritime Real-time Positioning System Market -Companies Mentioned

• Envision Enterprise Solutions America Inc.
• Intrasys (Pte.) Ltd.
• Martek Marine
• ORBCOMM Inc.
• VECTOR INFOTECH PTE LTD.
• Zebra Technologies Corporation   

Asia Pacific Maritime Real-time Positioning System Report Scope