The Maritime Real-Time Positioning System market was valued at US$ 158.2 million in 2019 and is projected to reach US$ 1,395.6 million by 2027; it is expected to grow at a CAGR of 31.8% from 2020 to 2027.
The continuous technological advancements have drastically improved the ways of tracking and monitoring the vessels in the last few years. The developing satellite services have facilitated ship tracking in all over the countries that ensure the safety of vessels from different unseen threats. By using advanced technologies such as RFID, GPS, WiFi, and Bluetooth for navigating and monitoring, the vessel owners and marine agencies can prevent illegal activities from taking place in waters. The use of advanced solutions assists large vessel owners to get real-time information about vessels. The oceanographers and mariners are using GPS data for conducting an underwater survey, navigational hazard location & mapping, and buoy placement. The vessels such as fishing, cargo, passenger ships & ferries, and service uses GPS technology to locate accurate track fish migrations, fishing locations, and ensure complete adherence of regulations set for using real-time tracking solutions.
Factors such as the growing adoption of digitization in the maritime industry to ensure transportation of goods nationally and internationally at an accurate condition. The use of RFID technology to track Bessel when they are in waters is driving the penetration of maritime real-time positioning system across the globe. Also, to prevent illegal activities such as theft and loss of products in waters, the use of real-time tracking solutions is booming. Another factor stimulating the market growth includes growing e-commerce, which is resulting in an increasing volume of packages for national and international trade. With a growing e-commerce industry, the use of cargo vessels is also rising that will influence the adoption of real-time tracking solution as well. Moreover, the emergence of advanced technologies such as digital twin, next-generation voyage management systems, GNS Solutions; and integration of digitization in Asian economies are some aspects that will contribute towards the market growth, which is propelling the Maritime Real-Time Positioning System market
North America dominated the market in 2019, which is followed by Europe and Asia Pacific at second and third position respectively. The US is one of the notable countries in North America with the presence of various prominent market players as well as end users. With rising demand for fisheries and government regulations to install tracking solutions in fishing vessels to prevent illegal activities, the demand to integrate real-time positioning system for collecting data about the vessels will help the market to grow in the US. In Europe, the global maritime real-positioning system market is growing at a modest pace owing to import of fisheries and other seafood products in Europe through national waters is anticipated to promote the scope of maritime real-time positioning system. Greater the demand for fisheries, more will be the use of fishing vessels which will influence the adoption of new tracking solutions. However, the APAC region dominated the maritime real-positioning system market and is expected to witness the fastest CAGR growth rate owing to the continuous adoption of advanced and digital technologies backed by government. In addition, Thailand, Indonesia, Vietnam are some of the prominent countries with widespread logistics and fisheries business. This factor will help in boosting the use of real-time positioning system for collecting data on vessels during their course of transportation. Furthermore, procurement of new maritime transport fleet by the countries of Middle East and adoption of new tracking solution in South American countries to track and collect data of vessels is anticipated to stimulate the market growth.
Lucrative Regions for Maritime Real-Time Positioning System Market
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Rising Use of RFID in Global Shipping Industry
The integration of digital technologies in maritime processes, operations, and business models to enhance productivity, increase security, and reduce operational costs has been growing at an unprecedented rate. Marine companies and vessel manufacturers across the world are embracing digitalization to transform their maritime processes for achieving high operational throughput and for increasing their profits. The key areas for digital transformation in the maritime industry include the development of new business models, digitalization of core operations, and using analytics for better decision making. For instance, the maritime industry is using RFID technologies to navigate and manage their vessels in waterways. The enterprises are executing RFID technology to solve staggering losses, cargo threats, piracy, and other problems.
Component-Based Market Insights
The maritime real-positioning system market by component has been segmented into hardware, software, and services. Varied types of digital solutions in maritime are used to streamline the tracking and tracing process while increasing efficiency. Along with entire system, services are also provided by the companies to address customer requirements whenever they ask for.
Display Size -Based Market Insights
Based on display size, the market is segmented into less than 10 inches, 10-15 inches, and more than 15 inches. While developing a robust display of any electronic product, several things are taken into consideration. Display size is one of them, which can help enhance the feature for various electronic devices, such as smartphone and handheld computer, laptop and notebook, avionics display, vehicle-mounted computer, and panel PC and mission-critical display.
Application – Based Market Insights
Based on application, the maritime real-positioning system market is segmented into fleet management, inventory and asset management, crew tracking. As this system is widely used by large vessels transporting goods and passengers, the application area of the system is broad.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Maritime Real-Time Positioning System Market: Strategic Insights
Market Size Value in US$ 158.2 Million in 2019 Market Size Value by US$ 1,395.6 Million by 2027 Growth rate CAGR of 31.8% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Maritime Real-Time Positioning System Market: Strategic Insights
| Market Size Value in | US$ 158.2 Million in 2019 |
| Market Size Value by | US$ 1,395.6 Million by 2027 |
| Growth rate | CAGR of 31.8% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Product development is the commonly adopted strategy by companies to expand their product portfolio. Envision Enterprise Solutions America Inc., Favendo GmbH, Intrasys (Pte.) Ltd., Martek Marine, MER Group, Orbcomm Inc., among others are the key players implementing strategies to enlarge the customer base and gain significant share in the global Maritime Real-Time Positioning System market, which in turn permits them to maintain their brand name. A few of the recent key developments are:
- In 2020, DeCurtis Corporation Partnered With Favendo which aimed to pursue worldwide market opportunities in vertical sectors as well as the offering to current clients in cruise..
- In 2019, Zebra Technologies Corporation acquired Temptime Corporation.Ginancial terms are still not disclosed.
Maritime Real-Time Positioning System Market Segmentation:
By Component
- Hardware
- Software
- Services
By Technology
- RFID
- GPS
- Others
By Vessel Type
- Fishing Vessels
- Cargo Vessels
- Service Vessels
- Passenger Ships and Ferries
- Others
By Application
- Fleet Management
- Inventory and Asset Management
- Crew Tracking
Company Profiles
- DIMEQ AS
- Envision Enterprise Solutions America Inc.
- Favendo GmbH
- Intrasys (Pte.) Ltd.
- Martek Marine
- MER Group
- Orbcomm Inc.
- Shipcom Wireless Inc
- Vector Infotech Pte Ltd.
- Zebra Technologies Corporation
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component , Technology , Application , and Vessel Type
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Presently, North America held the largest share of the global maritime real-time positioning system market. The constant technological developments in the last few years in North America regionhave notably enhanced tracking and monitoring ships and other vessels. The developing satellite services have the task of tracking the ships worldwide and ensuring high-end safety of the ships from numerous threats.
The integration of digital technologies in maritime processes, operations, and business models to enhance productivity, increase security, and reduce operational costs has been growing at an unprecedented rate. Marine companies and vessel manufacturers across the world are embracing digitalization to transform their maritime processes for achieving high operational throughput and for increasing their profits.In the maritime industry, RFID technology gives much more than protection against fraud and theft.
The fleet management application led the global maritime real-time positioning system market.Managing a fleet of vehicles is a challenging task. The companies involved in having a maritime transporting fleet have perhaps spent many hours going over schedules, driver training requirements, and maintenance records. To overcome these stated issues, fleet management is used.
The List of Companies - Maritime Real-Time Positioning System Market
- DIMEQ AS
- Envision Enterprise Solutions America Inc.
- Favendo GmbH
- Intrasys (Pte.) Ltd.
- Martek Marine
- MER Group
- Orbcomm Inc.
- Shipcom Wireless Inc
- Vector Infotech Pte Ltd.
- Zebra Technologies Corporation
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Trends and growth analysis reports related to Maritime Real-Time Positioning System Market
Oct 2020
Robotic Crawler Camera System Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component [Hardware (Cameras, Crawlers, Cable Drums, Control Units, and Others), Software, and Service], Application (Drain Inspection, Pipeline Inspection, and Tank Void Capacity or Conduit Inspection), and End User (Residential, Commercial, Municipal, and Industrial)
Oct 2020
Inertial Sensor for Land Defense Systems Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Technology (FOG, MEMS, and Others) and Application (Stabilization Missile Systems, Stabilization Turret-Cannon Systems, Land Navigation Including Land Survey, Missile GGM-SSM, Stabilization Active Protection System, Stabilization of Optronics System, and Others)
Oct 2020
Drone Lithium Battery Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis By Battery Type (Li-ion, Li-Po, and Li-S), Battery Capacity (Below 3,000 mAh; 3,000–5,000 mAh; and Above 5,000 mAh), Drone MTOW (Below 100 Kgs, 100–200 Kgs, and Above 200 Kgs), Wing Type (Fixed Wing and Rotary Wing), and End Use (Military and Commercial)
Oct 2020
ASRS for Garments on Hangers Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis By Type (Garment Rail System, Garment Conveyor, Garment Property Storage, and Others) and Application (Warehousing and Logistics, Retail 3PL, Hotels, Hospitals and Institutes, and Others)
Oct 2020
Analog to Digital Converter Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Integrating Analog to Digital Converters, Delta-Sigma Analog to Digital Converters, Successive Approximation Analog to Digital Converters, Ramp Analog to Digital Converters, and Others), Resolution (8-Bit, 10-Bit, 12-Bit, 14-Bit, 16-Bit, and Others), and Application (Industrial, Consumer Electronics, Automotive, Healthcare, Telecommunication, and Others)
Oct 2020
Laser Distance Sensor Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Distance (Between 2 and 10 Meters, Between 11 and 100 Meters, Between 101 and 200 Meters, and Between 201 and 500 Meters), Accuracy (1 mm at 2 Sigma, 3 mm with 2 Sigma, and 5 mm at 2 Sigma), and End User (Manufacturing, Construction, Automotive and Robotics, Aerospace and Defense, Geospatial Industry, and Others)
Oct 2020
Rugged Tablet Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis By Type (Fully Rugged Tablet, Semi Rugged Tablet, and Ultra Rugged Tablet); Operating System (Android, Windows, and iOS); and Application (Aerospace & Defense, Automotive, Construction, Energy & Utilities, Manufacturing, Oil & Gas, and Others)
Oct 2020
Rear Door Heat Exchanger Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Active and Passive) and End User (Data Center, IT and Telecommunication, Semiconductor, Education, Government, and Others)