Vessel Monitoring System Software Market Trends and Analysis by 2027

Historic Data: 2017-2018   |   Base Year: 2019   |   Forecast Period: 2020-2027

Vessel Monitoring System Software Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Vessel Type (Fishing Vessels and Others) and Application (Fisheries Management and Others)

  • Report Date : Dec 2020
  • Report Code : TIPRE00017950
  • Category : Technology, Media and Telecommunications
  • Status : Published
  • Available Report Formats : pdf-format excel-format
  • No. of Pages : 159

The vessel monitoring system software market was valued at US$ 457.29 million in 2019 and is expected to grow at a CAGR of 12.8% during the forecast period to reach US$ 1168.85 million by 2027.

The government across the world are increasing defense and boarder control spending each year owing to rising threat to homeland. There is an increasing need to track illegal fishing activities, movement of goods, people, and illicit material. Also, with the integration of advanced technologies such as artificial intelligence (AI) and machine learning (ML) in advanced vessel monitoring system software to provide better insights for research and development purposes. Moreover, the vessel monitoring system software is not just limited to seaborne vessel application it can be integrated with any surface or airborne machine, vehicle or drone. The vessel monitoring systems are equipped with various technologies such as GPS 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.

Further, vessel monitoring system software allows the governing body to identify any vessel and illegal fishing activities in restricted territory or during restricted time and further it assist to detect and track non-permitted or unidentified vessel operating or breaching the national borders. With continuous innovation in technology the vessel monitoring system software’s are now integrated with technologies like surface temperate monitor, traffic and collision management, satellite communication, real time weather forecast etc. which is enabling vessel operators to optimize and streamline their operations. Thus, rising need for tracking due to unauthorized activities is one of the major factor contributing towards the growth of vessel monitoring system software market during the forecast period.

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Vessel Monitoring System Software Market: Strategic Insights

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    This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.

Impact of COVID-19 Pandemic on Vessel Monitoring System Software Market

The outbreak of the COVID-19 virus negatively affects the vessel monitoring system software 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 worldwide. 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, resulting in less VMS adoption. This factor has been analyzed while estimating the market size of the vessel monitoring system software market in 2020.

Market Insights

Growing opportunities for Cargo Tracking

An increasing seaborne trade across the globe results in the rising investment in safety and security system which boosts the growth of the vessel monitoring system software market. Further, advancements in repair, restoration and upgrade of vessels is projected to fuel the growth for vessel monitoring system software market. Additionally, increase in trade activities backed retrofitting of old system with new advanced vessel monitoring system software to optimize and streamline the operations are among other factors forecasted to create growth opportunities for vessel monitoring system software market players. Advancements including near real-time tracking provides a brief analysis of the fleet, including risks, security threats, and various regulatory territories. Further, complete situational awareness along with global visibility and actionable intelligence to increase the operational efficiency.

Vessel Type Market Insights

Based on application, the vessel monitoring system software market is segmented into: Fishing Vessel and Others. Fishing vessels are ships or boat used for catch fish from sea or any inner land water body like lake or river. There are majorly two type in fishing vessel i.e. artesian and commercial vessel. The artisan vessels are comparatively small in size and capacity compared to commercial fishing vessels also are cheaper. These ships are major use in sea and inner land water body. Whereas, commercial vessels are used for large-scale commercial fishing activities in sea or deep sea areas. The vessel capacity also varies in this category of vessel and these vessels are equipped with various technology and machinery to optimize and streamline fishing operations.

Application Market Insight

Based on application, the vessel monitoring system software market is segmented into: Fisheries Management and Others. One of the primary application of vessel management system is to monitor the action and movement of fishery vessels in the sea or water bodies. As per the international laws a country has exclusive economic zone to 200 nautical miles (370km) from its costal region which implies other state fishery or other vessel cannot access it without any approval. Furthermore, vessel management system 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 vessel management system differs from country to country according to reporting norms set by the particular governing authorities for fishery

The players operating in the enterprise content management market focus on strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

  • In Dec 2020, Applied Satellite Technology (AST) Ltd received a contract for delivering its Vessel Monitoring Solution for 400 inshore vessels over the next year from Welsh Government, UK.
  • In Oct 2019, Orolia Maritime declared on collaboration with SRH Marine to combine Orolia Maritime’s M-SecureSync cyber security capabilities into its new automated digital services distribution platform.

Vessel Monitoring System Software Market Regional Insights

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

vessel-monitoring-system-software-market-global-geography
  • Get the Regional Specific Data for Vessel Monitoring System Software Market

Vessel Monitoring System Software Market Report Scope

Report Attribute Details
Market size in 2019 US$ 457.29 Million
Market Size by 2027 US$ 1168.85 Million
Global CAGR (2019 - 2027) 12.8%
Historical Data 2017-2018
Forecast period 2020-2027
Segments Covered By Vessel Type
  • Fishing Vessels
By Application
  • Fisheries Management
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • ORBCOMM Inc.
  • Applied Satellite Technology Ltd
  • Beijing Highlander Digital Technology Co., Ltd.
  • BlueTraker
  • CLS Fisheries
  • Orolia Maritime
  • Trackwell
  • ShipNet
  • Wärtsilä Corporation

  • Vessel Monitoring System Software Market Players Density: Understanding Its Impact on Business Dynamics

    The Vessel Monitoring System Software 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.

    Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

    Major Companies operating in the Vessel Monitoring System Software Market are:

    1. ORBCOMM Inc.
    2. Applied Satellite Technology Ltd
    3. Beijing Highlander Digital Technology Co., Ltd.
    4. BlueTraker
    5. CLS Fisheries

    Disclaimer: The companies listed above are not ranked in any particular order.


    vessel-monitoring-system-software-market-cagr

    • Get the Vessel Monitoring System Software Market top key players overview

    Global Vessel Monitoring System Software Segments:

    Vessel Monitoring System Software Market – By Vessel Type

    • Fishing Vessel
    • Others

    Vessel Monitoring System Software Market – By Application

    • Fisheries Management
    • Others

    Vessel Monitoring System Software Market – By Geography

    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • France
      • Germany
      • Italy
      • Spain
      • UK
      • Rest of Europe
    • Asia Pacific (APAC)
      • Australia
      • China
      • India
      • Japan
      • Rest of APAC
    • Middle East & Africa (MEA)
      • Saudi Arabia
      • UAE
      • South Africa
      • Rest of MEA
    • South America (SAM)
      • Brazil
      • Rest of SAM

    Companies

    • ORBCOMM Inc.
    • Applied Satellite Technology Ltd
    • Beijing Highlander Digital Technology Co., Ltd.
    • BlueTraker
    • CLS Fisheries
    • Orolia Maritime
    • Trackwell
    • ShipNet
    • Wärtsilä Corporation
    • THINKmarine Co., Ltd.
    • Visma
    • Satlink S.L.
    • SRT Marine Systems plc

    Frequently Asked Questions

    What are market opportunities for vessel monitoring system software market?

    Increase in trade activities backed retrofitting of old system with new advanced vessel monitoring system software to optimize and streamline the operations are among other factors forecasted to create growth opportunities for vessel monitoring system software market players.

    Which application type is expected to dominate the market in the forecast period?

    The vessel monitoring system software market is led by fisheries management segment with highest share and is expected to dominate in the forecast period. One of the major factors contributing towards the growth of fisheries management segment during the forecast period is presence of various communities dedicated to the management of the fisheries with the help of software

    What are reasons behind vessel monitoring system software market growth?

    The growth of the vessel monitoring system software market is primarily attributed to the rising need for tracking due to unauthorized activities. Moreover, escalating growth in fisheries application, thereby substantially driving the vessel monitoring system software market.

    Ankita Mittal
    Ankita Mittal
    Manager,
    Market Research & Consulting

    Ankita is a dynamic market research and consulting professional with over 8 years of experience across the technology, media, ICT, and electronics & semiconductor sectors. She has successfully led and delivered 100+ consulting and research assignments for global clients such as Microsoft, Oracle, NEC Corporation, SAP, KPMG, and Expeditors International. Her core competencies include market assessment, data analysis, forecasting, strategy formulation, competitive intelligence, and report writing.

    Ankita is adept at handling complete project cycles—from pre-sales proposal design and client discussions to post-sales delivery of actionable insights. She is skilled in managing cross-functional teams, structuring complex research modules, and aligning solutions with client-specific business goals. Her excellent communication, leadership, and presentation abilities have enabled her to consistently deliver value-driven outcomes in fast-paced and evolving market environments.

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    The List of Companies - Vessel Monitoring System Software Market

    1. ORBCOMM Inc.
    2. Applied Satellite Technology Ltd
    3. Beijing Highlander Digital Technology Co., Ltd.
    4. BlueTraker
    5. CLS Fisheries
    6. Orolia Maritime
    7. Trackwell
    8. ShipNet
    9. Wärtsilä Corporation
    10. THINKmarine Co., Ltd.
    11. Visma
    12. Satlink S.L.
    13. SRT Marine Systems plc
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