The MEA maritime real-time positioning system market is expected to grow from US$ 10.84 million in 2019 to US$ 83.73 million by 2027; it is estimated to grow at a CAGR of 29.6 % from 2020 to 2027.
The South Africa, UAE, and Saudi Arabia are major economies in MEA. Mounting growth potential is expected to accelerate the MEA maritime real-time positioning system market. The countries in the MEA region including the Saudi Arabia and UAE are witnessing notable growth rate in the maritime industry. Stable economies and technological advancements support the growth of a diversified range of industries and markets in the MEA region. Rapid developments pertaining to technologies, initiatives from governments, and digitalization of economies are among the factors propelling the MEA region's overall economic growth and driving it from a developing to a developed phase. All the factors promote globalization and technological growth in MEA. Also, the robust sea-trade and logistics arena in the region is steering the growth of the MEA maritime real-time positioning system market at a significant extent. So the continuous development in maritime industry is expected to increase the demand of maritime real-time positioning system for monitoring and tracking purpose, which will drive the MEA maritime real-time positioning system market growth.Furthermore, in case of COVID-19, Iran, Saudi Arabia, Qatar, South Africa, and UAE are some of the countries with high number of COVID-19 confirmed cases and deaths across MEA region. The disruptions in global supply chains and capital flows have also impacted the domestic production and demand in various countries of MEA region. The COVID-19 outbreak has highly disrupted the supply and demand gap in the adoption of real-time positioning systems which has affected the MEA maritime real-time positioning system market growth. Due to disruptions in the supply chain of transporting fish and other seafood items caused by travel ban has affected the fisheries sector of the region massively hence affecting the maritime real-time positioning system market badly. In addition, limited trade of other products, which are transported through cargo vessels, has also witnessed a downfall because of low demand from end users. Limited use of fishing vessel and cargo vessels will create a negative impact on MEA the maritime real-time positioning system market.
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 MEA maritime real-time positioning system market. The MEA maritime real-time positioning system market is expected to grow at a good CAGR during the forecast period.
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MEA Maritime Real-time Positioning System Market Segmentation
MEA Maritime Real-time Positioning System Market – By Component
- Hardware
- Readers and Trackers
- Tags/Badges
- Others
- Software
- Services
MEA Maritime Real-time Positioning System Market – By Technology
- RFID
- GPS
- Others
MEA Maritime Real-time Positioning System Market – By Application
- Fleet Management
- Inventory and Asset Management
- Crew Tracking
MEA Maritime Real-time Positioning System Market – ByVessel Type
- Fishing Vessels
- Cargo Vessels
- Service Vessels
- Passenger Ships and Ferries
- Others
MEA Maritime Real-time Positioning System Market, by Country
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
MEA Maritime Real-time Positioning System Market -Companies Mentioned
- Envision Enterprise Solutions America Inc.
- 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
Saudi Arabia
The List of Companies - Middle East & Africa Maritime Real-time Positioning System Market
- Envision Enterprise Solutions America Inc.
- 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.
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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.
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- 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
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- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
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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.
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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.
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