Automatic Identification System Market is estimated to grow at a CAGR of 7.0% during 2022-2027

In 2022, the market for automatic identification systems is anticipated to reach US$ 248.3 Mn. The market demand is being driven by an increase in the adoption of cutting-edge systems for ship identification, tracking, and navigation.

A tracking system called an automated identification system (AIS) is installed aboard ships to improve sailing safety. A brand-new research study from Future Market Insights provides a comprehensive overview of the global A.I. The “Automatic Identification System Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)” thorough research study shows the current market situation while taking into account the variables affecting it. According to the analysis of the global market for automatic identification systems, it is anticipated to develop at a CAGR of 6.4% over the forecast period to reach a market value of over US$ 340 Mn by the end of 2027.

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Global Automatic Identification System Market: Trends and Opportunities

Government rules requiring the use of automated identification systems (AIS) as a result of growing safety concerns will likely result in the robust growth rate for AIS projected globally. As a result, companies involved in the automatic identification system market are concentrating on R&D and constantly updating their product lines to match consumer demand in the highly competitive automatic identification system industry. Major businesses have a huge opportunity to create novel products that blend contemporary AIS with satellites with the introduction of satellite or cloud-based communication. Due to its sophisticated and intelligent characteristics, cloud management for AIS is currently in the development stage and will soon be in great demand in the market. Businesses who offer this function will have tremendous opportunities if they are technologically advanced.

Global Automatic Identification System Market: Segmental Analysis

• Based on Region, APEJ is expected to be the strongest region, with market size expected to reach over US$ 130 Mn by the end of 2027, growing at a CAGR of 7.1% during the forecast period. In terms of growth rate, MEA is also expected to be one lucrative segment during the forecast period.
• Based on Application, the vessel tracking segment dominates the market with a high market size and growth rate. It is expected to reach a market size of over US$ 180 Mn by the end of 2027, growing at a CAGR of 8.8% during the forecast period.
• On the basis of Category, the vessel-based segment is projected to be the most attractive one in terms of value, with expected market size of over US$ 250 Mn by the end of 2027. Among the types of vessel-based AIS, class A contributes the most in the growth of vessel-based products.

Global Automatic Identification System Market: Competitive Landscape

FMI’s report on the Global Automatic Identification System market includes a major section on the competitive analysis of the market. This section briefs the major players who are leading in the global automatic identification system market. Some of these key players mentioned in the report are Wartsila Corporation, Japan Radio Corporation, L3 Technologies, Orbcomm Inc., Garmin, True Heading AB, Raymarine, Jotron AS, C.N.S. Systems AB, ACR Electronics Inc., ONWA Marine Electronics Co. Ltd etc.

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Market segmentation

Category

• Vessel Based
  • Class A
  • Class B
• Shore Based
  • AIS base stations
  • AIS AtoN
  • Others

Application

• Fleet Management
• Vessel Tracking
• Maritime Security
• Others

Region

• North America
• Western Europe
• Eastern Europe
• Latin America
• APEJ
• Japan
• MEA

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