Middle East and Africa Vessel Monitoring System Market Outlook
According to the report by Expert Market Research (EMR), the Middle East and Africa vessel monitoring system market share, is projected to grow at a CAGR of 9.9% between 2023 and 2028. Aided by the growing need for advanced maritime technology and the broadening applications of vessel monitoring systems across diverse sectors in the marine industry, the market is expected to grow significantly by 2028.
Vessel Monitoring Systems (VMS) are sophisticated tracking systems extensively utilised in the marine industry for constant tracking, monitoring, and surveillance of vessels. These systems are integral for maintaining maritime security, safety, and efficiency, and are crucial for tracing illegal fishing activities, controlling marine traffic, and safeguarding marine workers. Besides their primary function of vessel tracking, VMS also offer substantial potential for multiple industrial applications, including logistics, offshore wind energy, and maritime research.
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The increasing demand for advanced maritime technology is fuelling the Middle East and Africa vessel monitoring system market growth. With escalating concerns over maritime security and stricter regulations for fishing and marine conservation being enforced, there has been a significant uptick in the demand for comprehensive vessel monitoring systems. The trend of digitisation and the incorporation of IoT in the maritime sector have further augmented demand for advanced VMS, as they provide real-time data and enhanced operational efficiency.
The extensive applications of VMS across various sectors of the marine industry are also major factors driving the Middle East and Africa vessel monitoring system market. In the fisheries industry, VMS is used to trace fishing vessels and ensure compliance with fishing regulations, thereby promoting sustainable fishing practices. In maritime logistics, VMS is implemented for efficient fleet management and timely delivery of goods. Furthermore, emerging sectors such as offshore wind energy and marine research are increasingly adopting VMS for improved operational management and data collection.
Moreover, the rising emphasis on maritime safety and conservation in the Middle East and Africa has led to an increased focus on VMS as a crucial tool for marine management. With the rise in instances of illegal fishing and maritime accidents, VMS has become an indispensable system for enforcing marine laws, tracing illicit activities, and ensuring the safety of marine workers, thereby fuelling the Middle East and Africa vessel monitoring system market expansion.
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Middle East and Africa Vessel Monitoring System Market Segmentation
The market can be divided based on vessel type, application, and country.
Market Breakup by Vessel Type
- Fishing Vessel
- Cargo Vessel
- Service Vessel
- Passenger Ships and Ferries
Market Breakup by Application
- Fisheries Management
Market Breakup by Country
- Saudi Arabia
- United Arab Emirates
- South Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the Middle East and Africa vessel monitoring system companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Global Fishing Watch, Inc.
- CLS Group
- Applied Satellite Technology Ltd
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