Maritime Real-Time Positioning System Market Key Companies and SWOT Analysis by 2031

The maritime real-time positioning system market size is projected to reach US$ 4537.19 million by 2031 from US$ 469.81 million in 2023. The market is expected to register a CAGR of 32.8% in 2023–2031. The need to minimize illegal activities in waters and growth in the global maritime trade is likely to remain key to maritime real-time positioning system market trends.

Maritime Real-Time Positioning System Market Analysis

The use of advanced technologies such as RFID, GPS, Wi-Fi, and Bluetooth for navigation and monitoring allows vessel owners and marine agencies to prevent illegal activities in the waters. The use of advanced solutions helps large vessel owners obtain real-time information about their vessels, which drives the demand for maritime real-time positioning systems. The rise in the global trade and digitalization of the marine industry further contributes to the maritime real-time positioning system market growth.

Maritime Real-Time Positioning System Market Overview

With the rise in digitalization across the maritime industry, real-time positioning systems are widely adopted to track and monitor the positions of ships, vessels, and containers. It uses technologies such as GPS and RFID to get real-time information on ships and containers. With the rise in global trade, the government is focused on strengthening its maritime industry, which includes the adoption of technologically advanced solutions that further drive the maritime real-time positioning system market.

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Maritime Real-Time Positioning System Market: Strategic Insights

Maritime Real-Time Positioning System Market Drivers and Opportunities

Growing use of RFID technology in the shipping industry to Favor Market

RFID positioning uses radio waves to determine the position or location of RFID tags attached to the shipping containers. RFID tracking is carried out using RFID container tags, which are made up of a microchip and an antenna. RFID tags attached to shipping containers emit radio frequency signals that are detectable by RFID readers. The readers extract the unique identifier from the tags to process and analyze. RFID fixed readers and antennas are installed at various points along the supply chain to track containers, including ports, warehouses, and distribution centers. As containers pass through these checkpoints, RFID tags are scanned, and the data is updated in real-time, allowing businesses to track the location and condition of their containers.

Rise in Maritime Trade

Maritime transportation is the foundation of international trade and the global economy. According to the United Nations Conference on Trade and Development (UNCTAD’s) review of Maritime Transport 2023, maritime trade is expected to grow more than 2% between 2024 and 2028. In addition, according to the OECD, with the demand for global freight increases, maritime trade volumes are expected to triple by 2050. The rise in maritime trade will generate the demand for efficient navigation and tracking systems for vessels and ships to enhance the overall maritime trade operations. Thus, the rise in trade activities via marine will generate huge growth opportunities for the maritime real-time positioning system market.

Maritime Real-Time Positioning System Market Report Segmentation Analysis

Key segments that contributed to the derivation of the maritime real-time positioning system market analysis are component, technology, application, and vessel type.

• By component, the market is segmented into hardware, software, and services. The hardware segment held a larger market share in 2023.
• Based on the technology, the market is segmented into RFID, GPS, and others. The GPS segment held a larger market share in 2023.
• By application, the market is segmented into fleet management, inventory and asset management, and crew tracking. The inventory and asset management is expected to grow with the highest CAGR.
• Based on the vessel type, the market is segmented into fishing vessels, cargo vessels, service vessels, passenger ships and ferries, and others. The cargo vessels segment is expected to grow with the highest CAGR.

Maritime Real-Time Positioning System Market Share Analysis by Geography

The geographic scope of the maritime real-time positioning system market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.

In terms of revenue, North America accounted for the largest maritime real-time positioning system market share in 2023, followed by Europe and Asia Pacific. Asia Pacific region is expected to grow with the highest CAGR. The presence of a large number of market players in the North American region leads to the region’s market growth. The region is an early adopter of technologically advanced solutions which contributes to the maritime real-time positioning system market growth in North America.

The regional trends and factors influencing the Maritime Real-Time Positioning System Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Maritime Real-Time Positioning System Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Maritime Real-Time Positioning System Market Report Scope

Maritime Real-Time Positioning System Market Players Density: Understanding Its Impact on Business Dynamics

The Maritime Real-Time Positioning System Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Maritime Real-Time Positioning System Market News and Recent Developments

The Maritime Real-Time Positioning System Marketis evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:

• According to UNCTAD’s Review of Maritime Transport 2022, Asia remained the world’s leading maritime cargo handling center in 2021, accounting for 42% of exports and 64% of imports. In 2021, around 40% of total containerized trade was on the main East-West routes – between Asia, Europe, and the US. Non-mainlane East-West routes such as South Asia-Mediterranean accounted for 12.9%. (Source: UNCTAD, Press Release, 2022)
• According to Year End Review-Ministry of Ports, Shipping and Waterways 2023, the Prime Minister launched the 'Maritime Amrit Kaal Vision 2047' encompassing aspirations in Logistics, Infrastructure, and Shipping supporting India's 'Blue Economy.' India's maritime sector is set to transform with a comprehensive roadmap launched during the Global Maritime India Summit, involving an investment of INR 80,000 lakh crores. (Source: Ministry of Ports, Shipping and Waterways, Press Release, 2024)

Maritime Real-Time Positioning System Market Report Coverage and Deliverables

The “Maritime Real-Time Positioning System Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles