PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1397088
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1397088
The Automatic Identification System Market size was valued at USD 502.4 Million in 2022, expanding at a CAGR of 6.3% from 2023 to 2030.
An automated tracking system known as the Automatic Identification System (AIS) is utilized to display the presence of other vessels in the surrounding area. This system operates through a broadcast transponder in the VHF mobile maritime band. In order to prevent collisions, the International Maritime Organization and other governing bodies mandate that large ships, including numerous commercial fishing vessels, transmit their position using AIS. Over 400,000 AIS devices broadcast vessel location, identity, course, and speed information annually. The primary objective of AIS is to enhance maritime safety, improve navigation efficiency, and promote environmental protection. By automatically transmitting and receiving information about their identity, position, course, and speed to nearby vessels and shore-based stations, AIS facilitates effective communication among ships.
The automatic identification system market is experiencing growth due to the rise of globalization, maritime traffic, and interconnectedness between nations.
The need for improved maritime safety and navigation is growing as more goods are transported worldwide. Regulatory bodies like the International Maritime Organization (IMO) have placed a strong emphasis on enhancing maritime safety and navigation efficiency, leading to the widespread adoption of AIS technology. The demand for AIS solutions is further fueled by the overall increase in maritime traffic, driven by economic activities and the global shipping industry. According to the United Nations Conference on Trade and Development, global marine traffic has seen a significant rise, with container ships spending 13.7% more time in port. Moreover, ongoing advancements in AIS technology, such as the development of advanced transponders and integration with other maritime systems, offer opportunities for innovation and market growth. However, the lack of awareness or understanding regarding the benefits of AIS technology poses a burden to the expansion of the market.
The Global Automatic Identification System Market is segmented on the basis of class, Application, Platform, and Region.
The market is divided into three categories based on Class: Class A, Class B, and AIS base stations. The class B segment dominates the market. Class B AIS transponders are often the more economical option when compared to Class A transponders. This financial benefit makes them a popular selection for individuals operating smaller vessels or engaging in recreational boating activities, where budgetary limitations may be a factor.
The market is divided into two categories based on Platform: Vessel Based and Onshore Based. The market is primarily dominated by the Vessel Based segment. Specifically, the vessel-based AIS segment holds significant dominance in the realm of international shipping. To ensure maritime safety, navigation, and collision avoidance on a global level, it is mandatory for large cargo vessels, tankers, and passenger ships to possess AIS transponders.
The market is divided into Four categories based on application: Fleet Management, vessel tracking, Maritime Security, and Others. Fleet management holds a significant position in the market. It encompasses the streamlining of multiple elements within a fleet of vehicles or vessels to boost effectiveness, minimize expenses, and enhance overall productivity.
Geographically, this market is spread across various regions including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided based on the countries involved in business activities. The market growth is expected to be dominated by North America, primarily due to the increasing international trade and commercial activities. With the continuous growth of international trade, there is a rising demand for AIS technology to enhance navigation safety and efficiency. North America, with its major commercial ports and robust shipping industry, also requires AIS to effectively manage vessel traffic and reduce the risk of collisions. The U.S. Census Bureau and the U.S. Bureau of Economic Analysis have recently announced that the goods and services deficit in December was USD67.4 billion, showing an increase of USD6.4 billion from the revised figure of USD61.0 billion in November, as predicted by U.S. International Trade.
The growth of the AIS market is fueled by the increasing focus on maritime safety, navigation efficiency, and regulatory compliance. AIS technology is widely adopted in the maritime industry to improve vessel tracking, prevent collisions, and enhance overall situational awareness. Furthermore, companies that offer a wide range of marine electronics and navigation systems may include AIS as part of their integrated solutions. The competition among these major players is influenced by factors such as product features, technological advancements, global presence, and the ability to meet regulatory requirements. The AIS market is constantly evolving, with ongoing advancements in satellite-based tracking, integration with other navigation systems, and advancements in data analytics to enhance maritime situational awareness.
On March 14, 2023, Honeywell declared its enhanced abilities to assist businesses in attaining automation interoperability in their distribution centers (DC). Honeywell will showcase a variety of its automation solutions and robotics at ProMat 2023 in Chicago, from March 20-23.