South America Collision Avoidance and Object Detection Maritime Market

The collision avoidance and object detection maritime  market in South America is expected to grow from US$ 17.05 million in 2022 to US$ 22.60 million by 2028. It is estimated to grow at a CAGR of 4.8% from 2022 to 2028. 

Rapid Development of AI and ML Enabled Navigation Systems

The technological shift towards adoption of AI and ML in marine navigation system is a key trending factor that accelerates the deployment of collision avoidance and object detection system in the maritime industry which is propelling the market growth. The adoption of AI and ML provides added safety features in the navigation system for marine applications with precise accuracy and efficiency. The associated advantages of using the AI and ML in maritime industry enhances the predictive capabilities and make the operations more efficient. Some implementations include real-time analytics, improved scheduling, automated processes, and among others. The AI optimizes the navigational sense using machinery and engines' data transmitted by connected sensors allowing the predictive maintenance. Machine learning algorithms help optimize routes to minimize fuel consumption, using the vessel’s information. Furthermore, AI and ML integrated with collision avoidance and object detection systems automatically detects hazardous objects or small vessels in the path of the ship even during times of low visibility. The growing initiatives for development of AI-based navigation system from leading players is anticipated to propel the market growth. For instance, in June 2022, Sea Machines Robotics has unveiled AI-ris, a new marine computer-vision navigation sensor designed to improve safety and performance of vessels. Thus, such advantageous features of using AI and ML enabled navigation systems is anticipated to drive the market growth over the forecast period.

Market Overview

South America is segmented into Brazil, Argentina, Colombia, and several small island nations. The strong presence of tourism and commercial marine industries has contributed significantly to the notable number of marine vessels and marinas for sea-related leisure and sports activities. Though, the industry is heavily fragmented, presence of significant number of small players have facilitated in the development of port infrastructure and technological adoption for their seamless operation across prominent commercial ports throughout the Latin American countries. Furthermore, the rising inclination toward advanced technologies such as UAVs is significantly contributing to the market growth. For instance, in June 2022, TASA, a Peruvian fishing company, introduced its first unmanned surface vessel (USV) for oceanographic & marine resource monitoring and fish-finding activities. This UAV is integrated with collision avoidance sensors and object detection technologies to enhance situational awareness and mitigate collision risk. Thus, significant development and adoption of advanced technologies by the marine industry is driving the market.

South America Collision Avoidance and Object Detection Maritime Market  Revenue and Forecast to 2028 (US$ Million)

South America Collision Avoidance and Object Detection Maritime Strategic Insights

Strategic insights for the South America Collision Avoidance and Object Detection Maritime 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.

South America Collision Avoidance and Object Detection Maritime Report Scope

South America Collision Avoidance and Object Detection Maritime Regional Insights

The geographic scope of the South America Collision Avoidance and Object Detection Maritime 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.

South America Collision Avoidance and Object Detection Maritime Market Segmentation

The South America collision avoidance and object detection maritime market is segmented into by technology, application, end user, and country. 

• Based on technology, the market is segmented into LiDAR, computer vision, radar, and others. The radar segment held the largest market share in 2022.
• Based on application, the market is segmented into blind spot detection, night vision, and others. The others segment held the largest market share in 2022.
• Based on end user, the market is segmented into unmanned surface vehicle, ships, and autonomous underwater vehicle (AUV). The Ships segment dominated the market share in 2022.  
• Based on country, the market is segmented into Brazil, Argentina, and the Rest of South America. Brazil segment dominated the market share in 2022.

Benewake (Beijing) Co Ltd;Orlaco Products BV;Raytheon Anschutz GmbH;Garmin Ltd.; Sea Machines Robotics Inc.;Teledyne FLIR LLC.; and Furuno Electric Co Ltd are the leading companies operating in the collision avoidance and object detection maritime  market in the region.