Middle East and Africa Maritime Real-time Positioning System Market
No. of Pages: 128 | Report Code: TIPRE00016269 | Category: Electronics and Semiconductor
No. of Pages: 128 | Report Code: TIPRE00016269 | Category: Electronics and Semiconductor
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 MEA 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. Factor stimulating the MEA maritime real-time positioning system market growth includes growing e-commerce, which is resulting in an increasing volume of packages for national and international trade. Moreover, the arrival of advanced technologies such as digital twin, next-generation voyage management systems, GNS Solutions; and integration of digitization in MEA economies are some aspects that will contribute towards the MEA maritime real-time positioning system market growth.
Furthermore, in case of COVID-19, Iran, Saudi Arabia, Qatar, South Africa, and UAE are some of the countries with high number of COVID-19 confirmed cases and deaths across MEA region. The disruptions in global supply chains and capital flows have also impacted the domestic production and demand in various countries of MEA region. The COVID-19 outbreak has highly disrupted the supply and demand gap in the adoption of real-time positioning systems which has affected the MEA maritime real-time positioning system market growth. Due to disruptions in the supply chain of transporting fish and other seafood items caused by travel ban has affected the fisheries sector of the region massively hence affecting the maritime real-time positioning system market badly. In addition, limited trade of other products, which are transported through cargo vessels, has also witnessed a downfall because of low demand from end users. Limited use of fishing vessel and cargo vessels will create a negative impact on MEA the maritime real-time positioning system market.
Strategic insights for the Middle East and Africa 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$ 10.84 Million |
| Market Size by 2027 | US$ 83.73 Million |
| Global CAGR (2020 - 2027) | 29.6 % |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | Middle East and Africa
|
| Market leaders and key company profiles |
The geographic scope of the Middle East and Africa 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 MEA maritime real-time positioning system market is expected to grow from US$ 10.84 million in 2019 to US$ 83.73 million by 2027; it is estimated to grow at a CAGR of 29.6 % from 2020 to 2027. Escalation in the number of cargo vessels is expected to accelerate the MEA maritime real-time positioning system market. Earlier, when a vessel was sent overseas after leaving the warehouse, the user was not aware of the location and condition of the vessels. This was very risky as not having any current status of the vessel. Therefore, the maritime industry is integrating real-time tracking solutions in every vessel. With a growing e-commerce industry and expanding supply chain backed by strong internet infrastructure, the use of real-time tracking solutions is receiving high traction across all over the countries across MEA region. By using an automatic identification system and asset tracking system, the end-users can get access to real-time data about the vessel’s location and condition. Owing to growing disposable income, stable economic structure, and government support for strengthening the e-commerce industry across MEA region, the volume of shipment is increasing exponentially. From jewelry to pharmaceutical to electronics, and more, the use of cargo vessels is expanding. This aspect is impacting the number of movements of cargo vessels in both national & international waters across MEA region. Therefore, maritime real-time positioning system is needed to locate and track the cargo vessels, which will drive the MEA maritime real-time positioning system market.
In terms of component, the hardware segment accounted for the largest share of the MEA maritime real-time positioning system market in 2019. In terms of technology, the RFID segment held a larger market share of the MEA maritime real-time positioning system market in 2019. Similarly, in terms of application, the fleet management segment held a larger market share of the MEA maritime real-time positioning system market in 2019. Further, the cargo vessels segment held a larger share of the MEA 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 MEA 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., MER Group, ORBCOMM Inc., SHIPCOM WIRELESS Inc., VECTOR INFOTECH PTE LTD., Zebra Technologies Corporation.
The List of Companies - Middle East & Africa Maritime Real-time Positioning System Market
The Middle East and Africa Maritime Real-time Positioning System Market is valued at US$ 10.84 Million in 2019, it is projected to reach US$ 83.73 Million by 2027.
As per our report Middle East and Africa Maritime Real-time Positioning System Market, the market size is valued at US$ 10.84 Million in 2019, projecting it to reach US$ 83.73 Million by 2027. This translates to a CAGR of approximately 29.6 % during the forecast period.
The Middle East and Africa 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 Middle East and Africa Maritime Real-time Positioning System Market report:
The Middle East and Africa 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 Middle East and Africa Maritime Real-time Positioning System Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East and Africa Maritime Real-time Positioning System Market value chain can benefit from the information contained in a comprehensive market report.
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