Europe 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)
Market Introduction
The vessel monitoring system (VMS) is a satellite-based monitoring system providing data to end-user (operators of fishing vessels, cargo vessels) related to location, speed, and course of vessels. The VMS is heavily used for fisheries management. This system also finds its application in service vessels, passenger ships, and ferries. The fisheries managers have begun using VMS decades ago to track exact locations and monitor the fishing vessels activity to strengthen the effectiveness of fisheries management measures. The VMS gathers vessel positions with help from satellite signals and transmits data to the communication server, which is further communicated to the land-based station/room. By using VMS, the task of tracking vessel becomes easy and fast, and assist in preventing wrongdoing activities at sea. Several factors, such as increasing demand from fisheries and cargo vessel sectors to have an eye on trade to curb unauthorized dealings. Countries in Europe have started using VMS technology to monitor their vessels, ensuring that fisheries are carrying marine products legally. This aspect is creating more demand for vessel monitoring technology and hence driving the market growth in Europe. Also, factor such as growing fisheries applications is expected to create a significant demand for VMS in the coming years, which is further anticipated to drive the Europe vessel monitoring system market.
Furthermore, in case of COVID-19, the UK is the hardest-hit country in Europe by the coronavirus outbreak. It is expected to suffer an economic hit due to a lack of revenue from various industries, as the UK records the highest number of coronavirus cases. Attributing to the rise in the number of COVID-19 infected patients, the British government imposed lockdown measures with an aim to contain the spread of the virus. In Europe, fisheries sector is severely hit owing to the lockdown. In many regions, the loss of demand and difficulties to reach the consumers have led to reduced and highly volatile prices. According to the European Market Observatory for Fisheries and Aquaculture, there are price declines in the Mediterranean fisheries of over 20%-70%, along with high weekly price volatility in rest of the European fisheries, with price paths significantly varying across the products and countries. The coronavirus outbreak's impact is anticipated to be quite severe in the year 2020 and likely in 2021. Hence, the ongoing COVID-19 crisis and critical situation will impact the vessel monitoring system market growth of the Europe region negatively for the next few quarters.
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Market Overview and Dynamics
The Europe vessel monitoring system market is expected to grow from US$ 183.30 million in 2019 to US$ 424.18 million by 2027; it is estimated to grow at a CAGR of 11.5 % from 2020 to 2027.Increase in cargo tracking opportunities is expected to soar the Europe vessel monitoring system market. An increasing seaborne trade across the Europe results in the rising investment in safety and security system which boosts the growth of the Europe vessel monitoring system market. Further, advancements in repair, restoration and upgrade of vessels is projected to fuel the growth for Europe vessel monitoring system market. Additionally, increase in trade activities backed retrofitting of old system with new advanced VMS to optimize and streamline the operations are among other factors forecasted to create growth opportunities for VMS market players in Europe. Advancements including near real-time tracking provides a brief analysis of the fleet, including risks, security threats, and various regulatory territories. So, factors like technological advancement, upgradations, safety and security, increase in trading etc. are expected to create opportunities for cargo tracking, which will ultimately drive the vessel monitoring system market in Europe.
Key Market Segments
In terms of application, the fisheries management segment accounted for the largest share of the Europe vessel monitoring system market in 2019. In terms of vessel type, the fishing vessels segment held a larger market share of Europe vessel monitoring system market in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the Europe vessel monitoring system market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Applied Satellite Technology Ltd, BlueTraker, CLS Fisheries, ORBCOMM Inc., Orolia Maritime, Trackwell, and Visma.
Reasons to buy report
- To understand the Europe vessel monitoring system market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for Europe vessel monitoring system market
- Efficiently plan M&A and partnership deals in Europe vessel monitoring system market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Europe vessel monitoring system market
- Obtain market revenue forecast for vessel monitoring system market by various segments from 2020-2027 in Europe region.
Europe Vessel Monitoring System Market Segmentation
Europe Vessel Monitoring System Market - By Application
- Fisheries Management
- Surveillance
- Others
Europe Vessel Monitoring System Market - By Vessel Type
- Fishing Vessels
- Cargo Vessels
- Service Vessels
- Passenger Ships and Ferries
- Others
Europe Vessel Monitoring System Market - By Country
- Germany
- France
- Italy
- UK
- Russia
- Rest of Europe
Europe Vessel Monitoring System Market - Company Profiles
- Applied Satellite Technology Ltd
- BlueTraker
- CLS Fisheries
- ORBCOMM Inc.
- Orolia Maritime
- Trackwell
- Visma
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Vessel Monitoring System Market Landscape
4.1 Market Overview
4.2 Europe PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Europe Vessel Monitoring System Market– Key Industry Dynamics
5.1 Market Drivers
5.1.1 Increase in Need for Tracking Because of Unauthorized Activities
5.1.2 Growing Fisheries Applications
5.2 Market Restraint
5.2.1 High Installation and Maintenance Cost
5.3 Market Opportunity
5.3.1 Increase in Cargo Tracking Opportunities
5.4 Future Trend
5.4.1 Combination with Advanced Technologies
5.5 Impact Analysis of Drivers and Restraints
6. Vessel Monitoring System Market – Europe Analysis
6.1 Europe Vessel Monitoring System Market Overview
6.2 Europe Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning – Market Players Ranking
7. Europe Vessel Monitoring System Market Revenue and Forecast to 2027 – By Application
7.1 Overview
7.2 Europe Vessel Monitoring System Market Breakdown, By Application, 2019 & 2027
7.3 Fisheries Management
7.3.1 Overview
7.3.2 Fisheries Management Market Forecast and Analysis
7.4 Surveillance
7.4.1 Overview
7.4.2 Surveillance Market Forecast and Analysis
7.5 Others
7.5.1 Overview
7.5.2 Others Market Forecast and Analysis
8. Europe Vessel Monitoring System Market Revenue and Forecast to 2027 – By Vessel Type
8.1 Overview
8.2 Europe Vessel Monitoring System Market Breakdown, By Vessel Type, 2019 & 2027
8.3 Fishing Vessel
8.3.1 Overview
8.3.2 Fishing Vessel Market Forecast and Analysis
8.4 Cargo Vessel
8.4.1 Overview
8.4.2 Cargo Vessel Market Forecast and Analysis
8.5 Service Vessel
8.5.1 Overview
8.5.2 Service Vessel Market Forecast and Analysis
8.6 Passenger Ships & Ferries
8.6.1 Overview
8.6.2 Passenger Ships & Ferries Market Forecast and Analysis
8.7 Others
8.7.1 Overview
8.7.2 Others Market Forecast and Analysis
9. Europe Vessel Monitoring System Market – Country Analysis
9.1 Overview
9.1.1 Europe: Vessel Monitoring System Market, By Country
9.1.1.1 Germany: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.1.1 Germany: Vessel Monitoring System Market, by Vessel Type
9.1.1.1.2 Germany: Vessel Monitoring System Market, by Application
9.1.1.2 France: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.2.1 France: Vessel Monitoring System Market, by Vessel Type
9.1.1.2.2 France: Vessel Monitoring System Market, by Application
9.1.1.3 Russia: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.3.1 Russia: Vessel Monitoring System Market, by Vessel Type
9.1.1.3.2 Russia: Vessel Monitoring System Market, by Application
9.1.1.4 UK: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.4.1 UK: Vessel Monitoring System Market, by Vessel Type
9.1.1.4.2 UK: Vessel Monitoring System Market, by Application
9.1.1.5 Italy: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.5.1 Italy: Vessel Monitoring System Market, by Vessel Type
9.1.1.5.2 Italy: Vessel Monitoring System Market, by Application
9.1.1.6 Rest of Europe: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.6.1 Rest of Europe: Vessel Monitoring System Market, by Vessel Type
9.1.1.6.2 Rest of Europe: Vessel Monitoring System Market, by Application
10. Impact of COVID-19 Pandemic on Europe Vessel Monitoring System Market
10.1 Europe: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
12. Company Profiles
12.1 ORBCOMM Inc.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Applied Satellite Technology Ltd
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 BlueTraker
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 CLS Fisheries
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Orolia Maritime
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Trackwell
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Visma
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. Europe Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Table 2. Germany Vessel Monitoring System Market, By Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 3. Germany Vessel Monitoring System Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 4. France Vessel Monitoring System Market, By Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 5. France Vessel Monitoring System Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 6. Russia Vessel Monitoring System Market, By Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 7. Russia Vessel Monitoring System Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 8. UK Vessel Monitoring System Market, By Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 9. UK Vessel Monitoring System Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 10. Italy Vessel Monitoring System Market, By Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 11. Italy Vessel Monitoring System Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 12. Rest of Europe Vessel Monitoring System Market, By Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 13. Rest of Europe Vessel Monitoring System Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 14. List of Abbreviation
LIST OF FIGURES
Figure 1. Europe Vessel Monitoring System Market Segmentation
Figure 2. Europe Vessel Monitoring System Market Segmentation – By Country
Figure 3. Europe Vessel Monitoring System Market Overview
Figure 4. Europe Vessel Monitoring System Market, by Country
Figure 5. Europe Vessel Monitoring System Market, By Vessel Type
Figure 6. Europe Vessel Monitoring System Market, By Application
Figure 7. Europe: PEST Analysis
Figure 8. Ecosystem Analysis
Figure 9. Expert Opinion
Figure 10. Europe Vessel Monitoring System Market: Impact Analysis of Drivers and Restraints
Figure 11. Europe Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 12. Europe Vessel Monitoring System Market Breakdown, By Application, 2019 & 2027 (%)
Figure 13. Europe Fisheries Management Market Revenue and Forecast to 2027 (US$ Mn)
Figure 14. Europe Surveillance Market Revenue and Forecast to 2027 (US$ Mn)
Figure 15. Europe Others Market Revenue and Forecast to 2027 (US$ Mn)
Figure 16. Europe Vessel Monitoring System Market Breakdown, By Vessel Type, 2019 & 2027 (%)
Figure 17. Europe Fishing Vessel Market Revenue and Forecast to 2027 (US$ Mn)
Figure 18. Europe Cargo Vessel Market Revenue and Forecast to 2027 (US$ Mn)
Figure 19. Europe Service Vessel Market Revenue and Forecast to 2027 (US$ Mn)
Figure 20. Europe Passenger Ships & Ferries Market Revenue and Forecast to 2027 (US$ Mn)
Figure 21. Europe Others Market Revenue and Forecast to 2027 (US$ Mn)
Figure 22. Europe: Vessel Monitoring System Market Revenue Share, By Country (2019 and 2027)
Figure 23. Germany: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. France: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. Russia: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 26. UK: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 27. Italy: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 28. Rest of Europe: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 29. Impact of COVID-19 Pandemic on European Country Markets
- Applied Satellite Technology Ltd
- BlueTraker
- CLS Fisheries
- ORBCOMM Inc.
- Orolia Maritime
- Trackwell
- Visma
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