Middle East & Africa Vessel Monitoring System Market Trends and Analysis by 2027
Historic Data: 2017-2018 | Base Year: 2019 | Forecast Period: 2020-2027Middle East & Africa 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)
- Report Date : Oct 2020
- Report Code : TIPRE00015456
- Category : Electronics and Semiconductor
- Status : Published
- Available Report Formats :
- No. of Pages : 77
The vessel monitoring system (VMS) market in MEA is expected to grow from US$ 47.20 million in 2019 to US$ 94.26 million by 2027; it is estimated to grow at a CAGR of 9.4 % from 2020 to 2027.
The South Africa, Saudi Arabia, and UAE are major economies in MEA. Surge in need for monitoring due to illegal activities is expected to impact the vessel monitoring system market in MEA. The governments across the MEA are increasing defense and boarder control spending each year owing to rising threat to homeland. There is an increasing need to monitor illegal fishing activities, movement of goods, people, and illicit material. The VMS is not just limited to seaborne vessel application it can be integrated with any surface or airborne machine, vehicle or drone. The VMS are equipped with various technologies such as antenna and receiver, computer, and a transmitter. These components not only help vessels operator navigate through the sea or water body but also allow the governing or border security bodies to monitor the movement and traffic in territory. Also it allows the governing body to identify any vessel and illegal fishing activities in restricted territory or during restricted time and further it also assist to detect and track non permitted or unidentified vessel operating or breaching the national borders. Due to increase in illegal trading and activities, it is expected that demand of VMS will increase for monitoring and tracking purpose, which is further anticipated to drive the MEA vessel monitoring system market.
Further, in case of COVID-19, MEA is highly affected especially Saudi Arabia. Coronavirus outbreak has highly disrupted the supply and demand gap in the adoption of VMS (vessel monitoring system) in MEA countries. The population of MEA consumes higher volumes of seafood that is resulting into more trade in fisheries. However, 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 affected the MEA vessel monitoring 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. Coronavirus had negatively affected the MEA vessel monitoring system market. The imposition of lockdown and movement of vehicles by government bodies to reduce curb the spread of the virus has negatively impacted the trade of products across MEA which has negatively affected the MEA vessel monitoring system market. Owing to the low business of trade, the number of cargo vessels, fisheries vessels has decreased drastically, which limited the use of VMS. Also, due to the temporary shutdown of manufacturing units, the procurement of new ships had negatively impacted, which has affected the MEA vessel monitoring 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 MEA vessel monitoring system market. The MEA vessel monitoring system market is expected to grow at a good CAGR during the forecast period.
MEA Vessel Monitoring System Market
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
MEA Vessel Monitoring System Market Segmentation
MEA Vessel Monitoring System Market – By Application
- Fisheries Management
- Surveillance
- Others
MEA Vessel Monitoring System Market – By Vessel Type
- Fishing Vessels
- Cargo Vessels
- Service Vessels
- Passenger Ships and Ferries
- Others
MEA Vessel Monitoring System Market, by Country
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
MEA Vessel Monitoring System Market - Companies Mentioned
- Applied Satellite Technology Ltd
- BlueTraker
- CLS Fisheries
- ORBCOMM Inc.
- Trackwell
Middle East & Africa Vessel Monitoring System Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 47.20 Million |
| Market Size by 2027 | US$ 94.26 Million |
| Global CAGR (2020 - 2027) | 9.4 % |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Application
|
| Regions and Countries Covered | Middle East and Africa
|
| Market leaders and key company profiles |
Market Research & Consulting
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
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- Applied Satellite Technology Ltd
- BlueTraker
- CLS Fisheries
- ORBCOMM Inc.
- Trackwell
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