Europe Vessel Monitoring System Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Application (Fisheries Management, Surveillance, and Others) and Vessel Type (Fishing Vessels, Cargo Vessels, Service Vessels, Passenger Ships and Ferries, and Others)
The vessel monitoring system (VMS) market in Europe is expected to grow from US$ 183.30 million in 2019 to US$ 424.18 million by 2027; it is estimated to grow at a CAGR of 11.5 % from 2020 to 2027.
The France, Germany, Italy, UK, and Russia are major economies in Europe. Growing fisheries applications is expected to escalate the vessel monitoring system market in Europe. One of the primary applications of VMS is to monitor the action and movement of fishing vessels in the sea or water bodies. The VMS assists fishing vessel to report their catch, for instance as per European Union regulation fishing vessels are require to report about their weekly catch, transshipment, catch on entry and catch on exit, port of landing etc. Furthermore, the specification and calibration of VMS differs from country to country according to reporting norms set by the European governing authorities for fishery. The European governments are also aiding with various monetary and non-monetary incentives such as reduced taxes, relaxed regulation and reporting norms, and complete ownership of business etc. which is driving the Europe vessel monitoring system market growth. The legislation of the EU requires that all the coastal countries in the EU should set up these systems that are compatible and standardized, so that the countries can share the data and the fishery officers can monitor effectively. So the growing applications of fisheries as well as relaxation provided by government will increase the demand of VMS in coming year, which will drive the Europe vessel monitoring system market.
Further, in case of COVID-19, the UK is the hardest-hit country in Europe by the coronavirus outbreak. It is expected to suffer an economic hit due to a lack of revenue from various industries, as the UK records the highest number of coronavirus cases. Attributing to the rise in the number of COVID-19 infected patients, the British government imposed lockdown measures with an aim to contain the spread of the virus which has affected the Europe vessel monitoring system market. In Europe, fisheries sector is severely hit owing to the lockdown. In many regions, the loss of demand and difficulties to reach the consumers have led to reduced and highly volatile prices. According to the European Market Observatory for Fisheries and Aquaculture, there are price declines in the Mediterranean fisheries of over 20%-70%, along with high weekly price volatility in rest of the European fisheries, with price paths significantly varying across the products and countries. The coronavirus outbreak's impact is anticipated to be quite severe in the year 2020 and likely in 2021. Hence, the ongoing COVID-19 crisis and critical situation will impact the vessel monitoring system market growth of the Europe region negatively for the next few quarters.
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 Europe vessel monitoring system market. The Europe vessel monitoring system market is expected to grow at a good CAGR during the forecast period.
Europe Vessel Monitoring System Market
Europe Vessel Monitoring System Market Segmentation
Europe Vessel Monitoring System Market – By Application
- Fisheries Management
- Surveillance
- Others
Europe Vessel Monitoring System Market – By Vessel Type
- Fishing Vessels
- Cargo Vessels
- Service Vessels
- Passenger Ships and Ferries
- Others
Europe Vessel Monitoring System Market, by Country
- Germany
- France
- Italy
- UK
- Russia
- Rest of Europe
Europe Vessel Monitoring System Market - Companies Mentioned
- Applied Satellite Technology Ltd
- BlueTraker
- CLS Fisheries
- ORBCOMM Inc.
- Orolia Maritime
- Trackwell
- Visma
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Vessel Monitoring System Market Landscape
4.1 Market Overview
4.2 Europe PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Europe Vessel Monitoring System Market– Key Industry Dynamics
5.1 Market Drivers
5.1.1 Increase in Need for Tracking Because of Unauthorized Activities
5.1.2 Growing Fisheries Applications
5.2 Market Restraint
5.2.1 High Installation and Maintenance Cost
5.3 Market Opportunity
5.3.1 Increase in Cargo Tracking Opportunities
5.4 Future Trend
5.4.1 Combination with Advanced Technologies
5.5 Impact Analysis of Drivers and Restraints
6. Vessel Monitoring System Market – Europe Analysis
6.1 Europe Vessel Monitoring System Market Overview
6.2 Europe Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning – Market Players Ranking
7. Europe Vessel Monitoring System Market Revenue and Forecast to 2027 – By Application
7.1 Overview
7.2 Europe Vessel Monitoring System Market Breakdown, By Application, 2019 & 2027
7.3 Fisheries Management
7.3.1 Overview
7.3.2 Fisheries Management Market Forecast and Analysis
7.4 Surveillance
7.4.1 Overview
7.4.2 Surveillance Market Forecast and Analysis
7.5 Others
7.5.1 Overview
7.5.2 Others Market Forecast and Analysis
8. Europe Vessel Monitoring System Market Revenue and Forecast to 2027 – By Vessel Type
8.1 Overview
8.2 Europe Vessel Monitoring System Market Breakdown, By Vessel Type, 2019 & 2027
8.3 Fishing Vessel
8.3.1 Overview
8.3.2 Fishing Vessel Market Forecast and Analysis
8.4 Cargo Vessel
8.4.1 Overview
8.4.2 Cargo Vessel Market Forecast and Analysis
8.5 Service Vessel
8.5.1 Overview
8.5.2 Service Vessel Market Forecast and Analysis
8.6 Passenger Ships & Ferries
8.6.1 Overview
8.6.2 Passenger Ships & Ferries Market Forecast and Analysis
8.7 Others
8.7.1 Overview
8.7.2 Others Market Forecast and Analysis
9. Europe Vessel Monitoring System Market – Country Analysis
9.1 Overview
9.1.1 Europe: Vessel Monitoring System Market, By Country
9.1.1.1 Germany: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.1.1 Germany: Vessel Monitoring System Market, by Vessel Type
9.1.1.1.2 Germany: Vessel Monitoring System Market, by Application
9.1.1.2 France: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.2.1 France: Vessel Monitoring System Market, by Vessel Type
9.1.1.2.2 France: Vessel Monitoring System Market, by Application
9.1.1.3 Russia: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.3.1 Russia: Vessel Monitoring System Market, by Vessel Type
9.1.1.3.2 Russia: Vessel Monitoring System Market, by Application
9.1.1.4 UK: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.4.1 UK: Vessel Monitoring System Market, by Vessel Type
9.1.1.4.2 UK: Vessel Monitoring System Market, by Application
9.1.1.5 Italy: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.5.1 Italy: Vessel Monitoring System Market, by Vessel Type
9.1.1.5.2 Italy: Vessel Monitoring System Market, by Application
9.1.1.6 Rest of Europe: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.6.1 Rest of Europe: Vessel Monitoring System Market, by Vessel Type
9.1.1.6.2 Rest of Europe: Vessel Monitoring System Market, by Application
10. Impact of COVID-19 Pandemic on Europe Vessel Monitoring System Market
10.1 Europe: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
12. Company Profiles
12.1 ORBCOMM Inc.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Applied Satellite Technology Ltd
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 BlueTraker
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 CLS Fisheries
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Orolia Maritime
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Trackwell
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Visma
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. Europe Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Table 2. Germany Vessel Monitoring System Market, By Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 3. Germany Vessel Monitoring System Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 4. France Vessel Monitoring System Market, By Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 5. France Vessel Monitoring System Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 6. Russia Vessel Monitoring System Market, By Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 7. Russia Vessel Monitoring System Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 8. UK Vessel Monitoring System Market, By Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 9. UK Vessel Monitoring System Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 10. Italy Vessel Monitoring System Market, By Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 11. Italy Vessel Monitoring System Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 12. Rest of Europe Vessel Monitoring System Market, By Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 13. Rest of Europe Vessel Monitoring System Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 14. List of Abbreviation
LIST OF FIGURES
Figure 1. Europe Vessel Monitoring System Market Segmentation
Figure 2. Europe Vessel Monitoring System Market Segmentation – By Country
Figure 3. Europe Vessel Monitoring System Market Overview
Figure 4. Europe Vessel Monitoring System Market, by Country
Figure 5. Europe Vessel Monitoring System Market, By Vessel Type
Figure 6. Europe Vessel Monitoring System Market, By Application
Figure 7. Europe: PEST Analysis
Figure 8. Ecosystem Analysis
Figure 9. Expert Opinion
Figure 10. Europe Vessel Monitoring System Market: Impact Analysis of Drivers and Restraints
Figure 11. Europe Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 12. Europe Vessel Monitoring System Market Breakdown, By Application, 2019 & 2027 (%)
Figure 13. Europe Fisheries Management Market Revenue and Forecast to 2027 (US$ Mn)
Figure 14. Europe Surveillance Market Revenue and Forecast to 2027 (US$ Mn)
Figure 15. Europe Others Market Revenue and Forecast to 2027 (US$ Mn)
Figure 16. Europe Vessel Monitoring System Market Breakdown, By Vessel Type, 2019 & 2027 (%)
Figure 17. Europe Fishing Vessel Market Revenue and Forecast to 2027 (US$ Mn)
Figure 18. Europe Cargo Vessel Market Revenue and Forecast to 2027 (US$ Mn)
Figure 19. Europe Service Vessel Market Revenue and Forecast to 2027 (US$ Mn)
Figure 20. Europe Passenger Ships & Ferries Market Revenue and Forecast to 2027 (US$ Mn)
Figure 21. Europe Others Market Revenue and Forecast to 2027 (US$ Mn)
Figure 22. Europe: Vessel Monitoring System Market Revenue Share, By Country (2019 and 2027)
Figure 23. Germany: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. France: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. Russia: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 26. UK: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 27. Italy: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 28. Rest of Europe: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 29. Impact of COVID-19 Pandemic on European Country Markets
- Applied Satellite Technology Ltd
- BlueTraker
- CLS Fisheries
- ORBCOMM Inc.
- Orolia Maritime
- Trackwell
- Visma
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe vessel monitoring system market.
- Highlights key business priorities in order to assist companies to realign their business strategies
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- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the vessel monitoring system market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution