Vessel Monitoring System: Introduction
- Vessel monitoring system is generally used in commercial fishing to allow environmental and fisheries regulatory organizations to track and monitor the activities of fishing vessels
- The functionality of a vessel monitoring system and its associated equipment depends on the requirements of a particular country’s vessel's registry and the regional or national water in which the vessel operates. Sub-divisions in regional and national vessel monitoring systems apply different functionalities to different vessel categories.
- Vessel monitoring system is used by fishery authorities, coastguards, and navies for surveillance, search and rescue, resource management, and fisheries control. It is also used to manage the data of thousands of vessels every day all around the world by shipping companies and coastguards.
Request PDF Brochure : https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=78491
Key Drivers of Global Vessel Monitoring System Market
- Developing countries across the world are investing significantly in the manufacturing sector. This has led to a steady growth in seaborne trade. Stable conditions of economies are likely to boost the global vessel monitoring system market.
- Increase in demand for new vessels for various applications in the oil & gas sector and shipping business, dearth of supply chains in ship repair and maintenance services, and rise in production of vessels are projected to augment the demand for vessel monitoring system in the near future
- Ambitious national targets, rapid technological advancements, and international agreements have prompted companies across the world to upgrade their shipping vessels. This, in turn, is expected to augment the global vessel monitoring system market between 2020 and 2030.
Enquiry Before Buying: https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=78491
Restraints of Global Vessel Monitoring System Market
- The cost of vessel monitoring system components is high and varies in accordance to the functionality requirements of the specific system being implemented. Vessel monitoring system is expensive and requires costly onboard requirement in Europe and the U.S. This is expected to hamper the vessel monitoring system market in these regions in the near future
Buy Now :https://www.transparencymarketresearch.com/checkout.php?rep_id=78491<ype=S
Major Developments
- In July 2020, the Costa Rican government announced that it had signed an agreement to make its vessel tracking data available through Global Fishing Watch (GFW), demonstrating its commitment to greater transparency in fishing activity. It also said that the agreement was signed between the Costa Rican Institute for Fisheries and Aquaculture (INCOPESCA) and GFW. INCOPESCA and GFW will work together to bring tracking data of Costa Rica’s commercial fishing vessels into GFW’s platform, thus enhancing monitoring and market opportunities for local fishers by raising their international profile.
- In July 2020, The Fisheries Committee for the West Central Gulf of Guinea (FCWC) Secretariat, as part of its implementation of the European Union-funded Improved Regional Fisheries Governance (PESCAO) project, announced that it had received regional vessel monitoring system (VMS) equipment. The regional VMS equipment is expected to monitor all vessels operating in the region and integrate all member countries’ existing national systems, with remote access for countries that do not have a VMS.
Request for Covid19 Impact Analysis: https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=78491
COVID-19 Impact Analysis
- The global economy has been hampered by the measures put in place to contain the COVID-19 pandemic. The marine industry is estimated to face immediate challenges due to the COVID-19 pandemic such as difficulty in adhering to the social distancing norms, shortage of manpower, lack of parts & equipment, and discerning expenditure by end-users.
- Rapid spread of the coronavirus has adversely impacted on global shipping market, with the slump in demand for goods from China having a ripple effect on everything from container ships to oil tankers
- Currently, the solar industry imports almost 80% of its equipment and parts in the value chain from China. The COVID-19 pandemic has hampered manufacturing capacities in China. Most ship container companies have stopped functioning out of Chinese ports. Major economies such as India have also stopped transportation of goods from China.
Explore Transparency Market Research’s award-winning coverage of the global Industry:https://www.prnewswire.com/news-releases/crop-protection-chemicals-market-to-advance-at-cagr-of-5-7-from-2021-to-2031-rise-in-application-in-open-field–protective-cultivation-to-offer-lucrative-opportunities-says-tmr-301467216.html
Key Players Operating in Global Market
Major players operating in the global vessel monitoring system market are:
- Trackwell
- Trelleborg Marine and Infrastructure.
- ORBCOMM
- BlueTraker
- Visma
- Orolia Maritime
- Pole Star Space Applications
- Stratum Five
About Us:
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyse information. Now avail flexible Research Subscriptions, and access Research multi-format through downloadable databooks, infographics, charts, interactive playbook for data visualization and full reports through MarketNgage, the unified market intelligence engine. Sign Up for a 7 day free trial!
0 Comments