Asia Pacific Maritime Real-time Positioning System Market
No. of Pages: 140 | Report Code: TIPRE00016268 | Category: Electronics and Semiconductor
No. of Pages: 140 | Report Code: TIPRE00016268 | Category: Electronics and Semiconductor
The continuous technological advancements across APAC 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 across APAC that ensure the safety of vessels from different unseen threats. By using advanced technologies for navigating and monitoring, the vessel owners and marine agencies can prevent illegal activities from taking place in waters. 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. The APAC maritime real-time positioning system market is one of the biggest market due 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 which will drive the APAC maritime real-time positioning system market growth. Furthermore, procurement of new maritime transport fleet and adoption of new tracking solution to track and collect data of vessels is anticipated to stimulate the APAC maritime real-time positioning system market growth.
Furthermore, in case of COVID-19, APAC region is highly affected specially the China and India. The APAC region is characterized by the presence of many developing countries with growing industrial sector and rising population. The growing urbanization and industrialization level in the APAC region makes it a promising market for the growth of maritime trade. Moreover. China is a major consumer and producer for many key industries including automotive, electronics & semiconductor, commodities, and agricultural products. The interruptions in movement, flow and storage of goods due to COVID-19 outbreak have affected the overall logistics and transportation industry growth in this region which has also affected the APAC maritime real-time positioning system market growth. Disruption in supply chain has reduced the number of fishing vessels during the pandemic situation, which will negatively impact the installation of the positioning systems in existing fishing vessels hence affecting the APAC maritime real-time positioning system market growth. Also, temporary shutdown of manufacturing units has decreased the procurement of fishing, cargo, and other vessels which has affected the APAC maritime real-time positioning system market negatively.
Strategic insights for the Asia Pacific Maritime Real-time Positioning System provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 35.19 Million |
| Market Size by 2027 | US$ 371.22 Million |
| Global CAGR (2020 - 2027) | 34.7 % |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia Pacific Maritime Real-time Positioning System refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The APAC maritime real-time positioning system market is expected to grow from US$ 35.19 million in 2019 to US$ 371.22 million by 2027; it is estimated to grow at a CAGR of 34.7 % from 2020 to 2027. Escalation in use of RFID in shipping industry is expected to accelerate the APAC maritime real-time positioning system market. Marine companies and vessel manufacturers across the APAC are embracing digitalization to transform their maritime processes for achieving high operational throughput and for increasing their profits. For instance, the maritime industry across APAC 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. In the current scenario, RFID technology successfully gets utilized in numerous maritime business process areas and gives real value to the vessel companies or end-users. The vessel owners and ocean carrier’s owners can themselves maintain, repair, and track their assets to make the best out of revenues. Therefore, the ports of the APAC countries have started using RFID solutions a few years back to maximize their maritime activates. Advantages of RFID technology such as proper navigation, protection against fraud and thefts, containers tracking etc. is expected to increase its demand in coming years, which will drive the APAC maritime real-time positioning system market.
In terms of component, the hardware segment accounted for the largest share of the APAC maritime real-time positioning system market in 2019. In terms of technology, the RFID segment held a larger market share of the APAC maritime real-time positioning system market in 2019. Similarly, in terms of application, the fleet management segment held a larger market share of the APAC maritime real-time positioning system market in 2019. Further, the cargo vessels segment held a larger share of the APAC maritime real-time positioning system market based on vessel type in 2019.
A few major primary and secondary sources referred to for preparing this report on the APAC maritime real-time positioning system market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Envision Enterprise Solutions America Inc., Intrasys (Pte.) Ltd., Martek Marine, ORBCOMM Inc., VECTOR INFOTECH PTE LTD., Zebra Technologies Corporation.
The List of Companies - Asia Pacific Maritime Real-time Positioning System Market
The Asia Pacific Maritime Real-time Positioning System Market is valued at US$ 35.19 Million in 2019, it is projected to reach US$ 371.22 Million by 2027.
As per our report Asia Pacific Maritime Real-time Positioning System Market, the market size is valued at US$ 35.19 Million in 2019, projecting it to reach US$ 371.22 Million by 2027. This translates to a CAGR of approximately 34.7 % during the forecast period.
The Asia Pacific Maritime Real-time Positioning System Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Maritime Real-time Positioning System Market report:
The Asia Pacific Maritime Real-time Positioning System Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Maritime Real-time Positioning System Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Maritime Real-time Positioning System Market value chain can benefit from the information contained in a comprehensive market report.
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