Product Code: PM2899
The global vessel traffic management market size is expected to reach USD 10.68 billion by 2030, according to a new study by Polaris Market Research. The report "Vessel Traffic Management Market Share, Size, Trends, Industry Analysis Report, By Component (Equipment, Solution, and Service); By Investment; By End-Use; By Region; Segment Forecast, 2022 - 2030" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Increasing demand and need to monitor various types of operations, functioning and voyage path of ships on a centralized platform, and increasing investment by large companies for the enhancement of ports and trade routes coupled with assurance of better safety and security of their borders and coastguards are major factors expected to drive the growth.
An extensive rise in the number of ships worldwide has strained the current traffic management, and monitoring infrastructure coupled with the rising complexity of vessel operations, which are likely to provide lucrative growth opportunities. For instance, in September 2022, Equinor & Vissim developed new ocean space surveillance & traffic management solutions for the various operators on the Norwegian & UK continental shelves. This system ensures accurate time vessel monitoring, weather conditions, and sea route planning.
An increasing number of seaborne trades around the world, high incorporation of ICT in the marine industry, a rapid boost in maritime tourism industry, and high augmented budgets of various shipping companies for the adoption of digitization of vessel services are a few other factors influencing the industry growth at a significant growth rate. In addition, with the rising ship traffic globally, it has become essential to improve security and safety and better safeguard the environment, likely to augment market growth.
Technological advancement in vessel traffic management allows authorities to improve navigational activities, increase vessel traffic volumes within congested shipping lanes, and enable seamless and innovative autonomous information exchange among unmanned vessels to maintain the VTMS sector at the forefront sector. For instance, ST Engineering & Kongsberg Norcontrol of Norway have announced the collaboration to build a center to develop advanced digital technologies and better decision-making tools for maritime operators.
Vessel Traffic Management Market Report Highlights
Equipment segment accounted for highest global revenue share, in 2021, due to rising adoption of several navigation, surveillance, and communication.
Commercial sector is projected to hold significant share owing to rising transportation of various supplies, including crude oil, automobiles, steel, and food.
Brownfield segment is expected to witness fastest growth over the study period owing to high efforts for expanding ports and rapid increase in modernization programs.
Asia Pacific dominated the market in 2021 and is likely to retain its position over the study period, which is accelerated by large presence of busy ports & trade routes in the region.
The global players include Kongsberg Gruppen, General Electric, Wartsila Corporation, Kelvin Hughes, and others.
Polaris Market Research has segmented the vessel traffic management market report based on component, investment, end-use, and region:
Vessel Traffic Management, Component Outlook (Revenue - USD Billion, 2018 - 2030)
Equipment
Solution
Service
Vessel Traffic Management, Investment Outlook (Revenue - USD Billion, 2018 - 2030)
Brownfield
Greenfield
Vessel Traffic Management, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)
Commercial Sector
Defense Sector
Vessel Traffic Management, Regional Outlook (Revenue - USD Billion, 2018 - 2030)
North America
U.S
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Latin America
Argentina
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Vessel Traffic Management Market Insights
- 4.1. Vessel Traffic Management - Industry Snapshot
- 4.2. Vessel Traffic Management Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Increased vessel congestion at ports
- 4.2.1.2. Need for automation
- 4.2.2. Restraints and Challenges
- 4.2.2.1. VTMS facility location
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Vessel Traffic Management Market Industry Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Vessel Traffic Management Market, by Component
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
- 5.3. Equipment
- 5.3.1. Global Vessel Traffic Management Market, by Equipment, by Region, 2018 - 2030 (USD Billion)
- 5.4. Solution
- 5.4.1. Global Vessel Traffic Management Market, by Solution, by Region, 2018 - 2030 (USD Billion)
- 5.5. Service
- 5.5.1. Global Vessel Traffic Management Market, by Service, by Region, 2018 - 2030 (USD Billion)
6. Global Vessel Traffic Management Market, by Investment
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
- 6.3. Brownfield
- 6.3.1. Global Vessel Traffic Management Market, by Brownfield, by Region, 2018 - 2030 (USD Billion)
- 6.4. Greenfield
- 6.4.1. Global Vessel Traffic Management Market, by Greenfield, by Region, 2018 - 2030 (USD Billion)
7. Global Vessel Traffic Management Market, by End-Use
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
- 7.3. Commercial Sector
- 7.3.1. Global Vessel Traffic Management Market, by Commercial Sector, by Region, 2018 - 2030 (USD Billion)
- 7.4. Defense Sector
- 7.4.1. Global Vessel Traffic Management Market, by Defense Sector, by Region, 2018 - 2030 (USD Billion)
8. Global Vessel Traffic Management Market, by Geography
- 8.1. Key findings
- 8.2. Introduction
- 8.2.1. Vessel Traffic Management Market Assessment, By Geography, 2018 - 2030 (USD Billion)
- 8.3. Vessel Traffic Management Market - North America
- 8.3.1. North America: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
- 8.3.2. North America: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
- 8.3.3. North America: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
- 8.3.4. Vessel Traffic Management Market - U.S.
- 8.3.4.1. U.S.: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
- 8.3.4.2. U.S.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
- 8.3.4.3. U.S.: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
- 8.3.5. Vessel Traffic Management Market - Canada
- 8.3.5.1. Canada: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
- 8.3.5.2. Canada.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
- 8.3.5.3. Canada: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
- 8.4. Vessel Traffic Management Market - Europe
- 8.4.1. Europe: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
- 8.4.2. Europe.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
- 8.4.3. Europe: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
- 8.4.4. Vessel Traffic Management Market - UK
- 8.4.4.1. UK: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
- 8.4.4.2. UK.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
- 8.4.4.3. UK: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
- 8.4.5. Vessel Traffic Management Market - France
- 8.4.5.1. France: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
- 8.4.5.2. France.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
- 8.4.5.3. France: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
- 8.4.6. Vessel Traffic Management Market - Germany
- 8.4.6.1. Germany: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
- 8.4.6.2. Germany.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
- 8.4.6.3. Germany: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
- 8.4.7. Vessel Traffic Management Market - Italy
- 8.4.7.1. Italy: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
- 8.4.7.2. Italy.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
- 8.4.7.3. Italy: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
- 8.4.8. Vessel Traffic Management Market - Spain
- 8.4.8.1. Spain: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
- 8.4.8.2. Spain.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
- 8.4.8.3. Spain: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
- 8.4.9. Vessel Traffic Management Market - Netherlands
- 8.4.9.1. Netherlands: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
- 8.4.9.2. Netherlands.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
- 8.4.9.3. Netherlands: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
- 8.4.10. Vessel Traffic Management Market - Russia
- 8.4.10.1. Russia: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
- 8.4.10.2. Russia.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
- 8.4.10.3. Russia: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
- 8.5. Vessel Traffic Management Market - Asia Pacific
- 8.5.1. Asia Pacific: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
- 8.5.2. Asia Pacific.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
- 8.5.3. Asia Pacific: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
- 8.5.4. Vessel Traffic Management Market - China
- 8.5.4.1. China: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
- 8.5.4.2. China.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
- 8.5.4.3. China: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
- 8.5.5. Vessel Traffic Management Market - India
- 8.5.5.1. India: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
- 8.5.5.2. India.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
- 8.5.5.3. India: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
- 8.5.6. Vessel Traffic Management Market - Malaysia
- 8.5.6.1. Malaysia: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
- 8.5.6.2. Malaysia.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
- 8.5.6.3. Malaysia: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
- 8.5.7. Vessel Traffic Management Market - Japan
- 8.5.7.1. Japan: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
- 8.5.7.2. Japan.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
- 8.5.7.3. Japan: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
- 8.5.8. Vessel Traffic Management Market - Indonesia
- 8.5.8.1. Indonesia: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
- 8.5.8.2. Indonesia.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
- 8.5.8.3. Indonesia: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
- 8.5.9. Vessel Traffic Management Market - South Korea
- 8.5.9.1. South Korea: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
- 8.5.9.2. South Korea.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
- 8.5.9.3. South Korea: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
- 8.6. Vessel Traffic Management Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
- 8.6.2. Middle East & Africa.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
- 8.6.3. Middle East & Africa: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
- 8.6.4. Vessel Traffic Management Market - Saudi Arabia
- 8.6.4.1. Saudi Arabia: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
- 8.6.4.2. Saudi Arabia.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
- 8.6.4.3. Saudi Arabia: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
- 8.6.5. Vessel Traffic Management Market - UAE
- 8.6.5.1. UAE: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
- 8.6.5.2. UAE.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
- 8.6.5.3. UAE: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
- 8.6.6. Vessel Traffic Management Market - Israel
- 8.6.6.1. Israel: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
- 8.6.6.2. Israel.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
- 8.6.6.3. Israel: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
- 8.6.7. Vessel Traffic Management Market - South Africa
- 8.6.7.1. South Africa: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
- 8.6.7.2. South Africa.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
- 8.6.7.3. South Africa: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
- 8.7. Vessel Traffic Management Market - Latin America
- 8.7.1. Latin America: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
- 8.7.2. Latin America.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
- 8.7.3. Latin America: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
- 8.7.4. Vessel Traffic Management Market - Mexico
- 8.7.4.1. Mexico: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
- 8.7.4.2. Mexico.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
- 8.7.4.3. Mexico: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
- 8.7.5. Vessel Traffic Management Market - Brazil
- 8.7.5.1. Brazil: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
- 8.7.5.2. Brazil.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
- 8.7.5.3. Brazil: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
- 8.7.6. Vessel Traffic Management Market - Argentina
- 8.7.6.1. Argentina: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
- 8.7.6.2. Argentina.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
- 8.7.6.3. Argentina: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
- 10.1. Wartsila Corporation
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
- 10.2. Kongsberg Gruppen
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
- 10.3. General Electric
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
- 10.4. Northrop Grumman
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
- 10.5. Marlink AS
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
- 10.6. L3 Technologies
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
- 10.7. Japan Radio
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
- 10.8. Leonardo Finmeccanica
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
- 10.9. Kelvin Hughes
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
- 10.10. Marlan Maritime
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development
- 10.11. Elcome International
- 10.11.1. Company Overview
- 10.11.2. Financial Performance
- 10.11.3. Product Benchmarking
- 10.11.4. Recent Development
- 10.12. Xanatos Marine
- 10.12.1. Company Overview
- 10.12.2. Financial Performance
- 10.12.3. Product Benchmarking
- 10.12.4. Recent Development
- 10.13. TERMA
- 10.13.1. Company Overview
- 10.13.2. Financial Performance
- 10.13.3. Product Benchmarking
- 10.13.4. Recent Development
- 10.14. Saab AB
- 10.14.1. Company Overview
- 10.14.2. Financial Performance
- 10.14.3. Product Benchmarking
- 10.14.4. Recent Development
- 10.15. Thales Group
- 10.15.1. Company Overview
- 10.15.2. Financial Performance
- 10.15.3. Product Benchmarking
- 10.15.4. Recent Development
- 10.16. Rolta India
- 10.16.1. Company Overview
- 10.16.2. Financial Performance
- 10.16.3. Product Benchmarking
- 10.16.4. Recent Development
- 10.17. Tokyo Keiki
- 10.17.1. Company Overview
- 10.17.2. Financial Performance
- 10.17.3. Product Benchmarking
- 10.17.4. Recent Development