From GlobeNewswire: 2024-11-20 09:55:00

Adopting automatic identification systems by maritime traffic service providers allows for ship tracking and collision prevention. This system provides information such as individual identification, course speed, and vessel position, displayed on screens as a supplement to the maritime radar. The global automatic identification systems market is growing due to increased trade and ship traffic, demand for traffic control systems, and ship safety and security.

Increased maritime traffic has led to issues in port areas and at sea, resulting in ship crashes and accidents. Ship-tracking technologies, like AIS, address this by providing navigational guidance to vessels. Russia aims to transfer 80 million metric tonnes along the Northern Sea Route by 2024, with AIS playing a crucial role in real-time navigation for collision prevention and marine traffic management.

Rapid advances in AIS vessel tracking systems are providing opportunities for the global automatic identification system market. The technology is evolving to meet the needs of autonomous boats, with advancements like AI solutions for predicting vessel accidents on complex maritime routes. These developments are expected to further stimulate market expansion and growth.

The North America region leads the automatic identification system market, with a large coastline that requires constant surveillance. Europe follows closely, with innovative AIS technology being utilized for maritime safety and monitoring. The Asia-Pacific region, with its busy ports, is also adopting AIS for enhanced vessel tracking and management, creating multiple growth opportunities.

The global automatic identification system market is projected to reach USD 523.17 million by 2033, growing at a CAGR of 6%. The market is segmented by application into fleet management, vessel tracking, maritime security, and other applications. Vessel-based platforms account for the largest market share and are expected to continue growing. Key players in the market include Saab AB, Furuno Electric Co. Ltd, and Garmin Ltd, among others.



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