Europe Maritime Real-time Positioning System Market
The continuous technological advancements 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 Europe that ensure the safety of vessels from different unseen threats. By using advanced technologies such as radio-frequency identification (RFID), global positioning system (GPS), Wi-Fi, and Bluetooth for navigating and monitoring, the vessel owners and marine agencies can prevent illegal activities from taking place in waters. The use of advanced solutions assists large vessel owners to get real-time information about vessels. 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. In Europe, the maritime real-time positioning system market is growing at a modest pace owing to import of fisheries and other seafood products in Europe through national waters is anticipated to promote the scope of maritime real-time positioning system. Greater the demand for fisheries, more will be the use of fishing vessels which will influence the adoption of new tracking solutions, which will drive the Europe maritime real-time positioning system market growth. Other factors such as upsurge in the number of cargo vessels and increase in use of RFID in shipping industry is expected to drive the Europe maritime real-time positioning system market growth.
Furthermore, in case of COVID-19, Europe is highly affected specially the Russia and UK. Europe is a major manufacturing and industrial hub for several industrial sectors such as automotive, aerospace & defense, energy & power, pharmaceuticals, and food & beverages. Hence, logistics and transportation plays a crucial role in ensuring the development and growth of these industries in the region. The sea freight is an essential part of region’s economy. The UK’s logistics and transportation sector is widely spread and handles significantly higher volumes of food & beverage, pharmaceuticals & chemicals. Attributing to the rise in the number of COVID-19 infected patients, the British government imposed lockdown measure which has affected the maritime real-time positioning system market badly in the country. The Association of “European Freight Forwarders” and “Polish Chamber of Forwarding and Logistics” have already raised warnings regarding the limited export loads as well as delays in port operations, owing to non-availability operators and manpower which is expected to affect the Europe maritime real-time positioning system market negatively.
Strategic insights for the Europe 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$ 42.91 Million |
| Market Size by 2027 | US$ 383.78 Million |
| Global CAGR (2020 - 2027) | 32.0 % |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe 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 Europe maritime real-time positioning system market is expected to grow from US$ 42.91 million in 2019 to US$ 383.78 million by 2027; it is estimated to grow at a CAGR of 32.0 % from 2020 to 2027. Escalating growth potential specially across developing countries across Europe is expected to accelerate the Europe maritime real-time positioning system market. The developing countries in Europe region 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 developing countries across Europe. Rapid developments pertaining to technologies, initiatives from governments, and digitalization of economies are among the factors propelling the overall economic growth of Europe across developing countries. All the factors promote globalization and technological growth in developing countries across Europe. Also, the robust sea-trade and logistics arena in the region is steering the growth of the maritime real-time positioning system market at a significant extent across countries in Europe. So the growth in the marine industry across Europe is expected to drive the Europe maritime real-time positioning system market
In terms of component, the hardware segment accounted for the largest share of the Europe maritime real-time positioning system market in 2019. In terms of technology, the RFID segment held a larger market share of the Europe maritime real-time positioning system market in 2019. Similarly, in terms of application, the fleet management segment held a larger market share of the Europe maritime real-time positioning system market in 2019. Further, the cargo vessels segment held a larger share of the Europe 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 Europe 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 DIMEQ AS, FAVENDO GMBH, Martek Marine, MER Group, ORBCOMM Inc., Zebra Technologies Corporation.
The Europe Maritime Real-time Positioning System Market is valued at US$ 42.91 Million in 2019, it is projected to reach US$ 383.78 Million by 2027.
As per our report Europe Maritime Real-time Positioning System Market, the market size is valued at US$ 42.91 Million in 2019, projecting it to reach US$ 383.78 Million by 2027. This translates to a CAGR of approximately 32.0 % during the forecast period.
The Europe 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 Europe Maritime Real-time Positioning System Market report:
The Europe 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 Europe Maritime Real-time Positioning System Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Maritime Real-time Positioning System Market value chain can benefit from the information contained in a comprehensive market report.
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