Global Vessel Traffic Management Market report published by Accurize Market Research forecast that the global market is expected to reach $4.4 billion by 2025; growing at a CAGR of 7.7% from 2017 to 2025. By geography, the Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.

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Technological improvements in vessel traffic management systems & various government initiatives to decrease the environmental effect of the marine industry drive the market
Technological improvements in vessel traffic management systems & various initiatives taken by governments worldwide to decrease the environmental effect of the marine industry fuel the demand for the global vessel traffic management market. Furthermore, growth in international seaborne trade and ongoing global investments by the government in the shipbuilding industry also boosts the growth of the market.

Market Segmentation

The global vessel traffic management market has been bifurcated on the basis of component, investment, systems, end-user, and geography. The component segment is sub-segmented into equipment, solutions, and service. By investment, the segmentation is given as brownfield and Greenfield. Port management information systems, global maritime distress safety systems, driver information systems, and AtoN management & health monitoring systems are the bifurcation of systems. Furthermore, commercial and defense are included in end-user segment.

By geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). North America is further bifurcated into U.S. and Canada whereas Europe segment consists of the UK, Norway, Sweden, Denmark, Turkey, France and the Rest of Europe. Asia-Pacific is segmented into India, China, Malaysia, Singapore, Philippines, Indonesia, South Korea, Australia, and Rest of Asia-Pacific while RoW is bifurcated into South America, the Middle East, and Africa.

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Top players in the market

The key market players include Thales Group, Kongsberg, Gruppen, Signalis, Leonardo, Frequentis, Kongsberg Gruppen, L3 Technologies, Saab, IndraSistemas, Rolta India, Tokyo Keiki, Kelvin Hughes, and Vissim, among others.