PUBLISHER: The Business Research Company | PRODUCT CODE: 1657062
PUBLISHER: The Business Research Company | PRODUCT CODE: 1657062
Vessel traffic management refers to a system designed to ensure safe and efficient traffic management within a specified maritime area. This system is crucial for enhancing the safety of life at sea, optimizing navigation efficiency, and safeguarding the marine environment, including nearby shore areas, work sites, and offshore installations, from potential adverse effects of maritime traffic. Vessel traffic management systems have been implemented in some of the world's busiest waters, contributing significantly to safer navigation, improved traffic flow, and environmental protection.
The main types of systems in vessel traffic management include port management information systems, global maritime safety systems, river information systems, aton management and health monitoring systems, and others. The Port Management Information System (PMIS) for port control is a comprehensive port automation solution that features modules customizable to meet specific end customer requirements. Various components, including solutions and services, are utilized across different sectors, such as the commercial and defense sectors.
The vessel traffic management market research report is one of a series of new reports from The Business Research Company that provides vessel traffic management market statistics, including vessel traffic management industry global market size, regional shares, competitors with vessel traffic management market share, detailed vessel traffic management market segments, market trends, and opportunities, and any further data you may need to thrive in the vessel traffic management industry. This vessel traffic management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The vessel traffic management market size has grown strongly in recent years. It will grow from $4.87 billion in 2024 to $5.14 billion in 2025 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to increase in global trade and maritime transportation, increase in vessel traffic, increase in demand for efficient port operations, increase in demand for safety and security in maritime transportation, increase in demand for environmental sustainability.
The vessel traffic management market size is expected to see strong growth in the next few years. It will grow to $7.42 billion in 2029 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to growth in the use of satellite-based communication and navigation systems, expansion of renewable energy projects at sea, impacting vessel traffic, increase in demand for digitalization in maritime transportation, growth in the use of big data analytics, surge in the adoption of autonomous vessels and unmanned systems. Major trends in the forecast period include use of data analytics for real-time decision-making, customization of traffic management solutions for specific maritime zones, collaboration between maritime authorities and technology providers, advancements in vessel traffic management technology, emphasis on cybersecurity measures for secure vessel communication.
The increase in maritime traffic is expected to drive the growth of the vessel traffic management market in the future. Maritime traffic encompasses all commercial shipping between two or more ports or moorings, excluding recreational boats, regular ferry services, coastal fishing, and inland waterway transportation. Effective vessel traffic management requires a robust system to ensure the safety of both infrastructure and vessels, with readily available software that provides the necessary resources. Ship tracking through vessel traffic systems utilizes AIS, radar, and video surveillance, seamlessly integrating these technologies into a single software platform that can be managed remotely, whether for controlling marine traffic or safeguarding infrastructure. For example, the Review of Maritime Transport 2023 report published in September 2023 by the United Nations Conference on Trade and Development (UNCTAD), a Switzerland-based intergovernmental body, indicates that maritime trade is expected to grow by 2.4% in 2023 and surpass 2% annually from 2024 to 2028. Thus, the rise in maritime traffic is anticipated to significantly boost demand for the vessel traffic management market.
The development of advanced vessel traffic management systems is a key trend gaining traction in the vessel traffic management market. Governments worldwide are prioritizing the creation of new and advanced vessel traffic systems to ensure marine safety and facilitate smooth trade activities. For instance, in August 2022, the Maritime and Port Authority of Singapore (MPA), which regulates and licenses port and marine services and facilities, partnered with the Infocomm Media Development Authority (IMDA), a Singapore-based government statutory board, to develop and implement a comprehensive 5G mobile network at the Port of Singapore. This initiative aims to enhance the efficiency and safety of maritime operations through advanced digital technologies, ensuring that Singapore remains a leading global hub for maritime trade and logistics. By leveraging 5G capabilities, both authorities aim to facilitate real-time data exchange, improve operational workflows, and support the deployment of innovative solutions such as autonomous vessels and smart logistics systems.
Major companies in the vessel traffic management market are focusing on developing port management information systems (PMIS) to enhance port efficiency and sustainability. A PMIS is a comprehensive software application designed to aid in the planning and management of port operations. For example, in March 2023, AD Ports Group, a UAE-based provider of multimodal freight transportation, logistics, and other services, launched its vessel traffic management information system (VTMIS) technology. This technology integrates various tools, including radar, CCTV, radios, and meteorological systems, to provide port operators with real-time information and improve communication between vessels and between vessels and shore. This enhanced communication is expected to facilitate safe navigation, collision avoidance, and efficient maritime operations, ultimately maximizing the safety, security, and efficiency of port activities.
Major companies in the vessel traffic management market are concentrating on developing port management information systems (PMIS) to optimize port operations. A PMIS is a comprehensive software application facilitating the planning and management of port activities. In April 2021, Wartsila partnered with Tanger Med, a port complex in Morocco, to develop an advanced PMIS. The collaboration aimed to transform Tanger Med into a smart port, leveraging modern technologies like Smart Port tools, Just-In-Time (JIT) solutions, machine learning, and AI to enhance operational efficiency, safety, and environmental sustainability.
In January 2022, Leonardo acquired Hensoldt for $689 million, signaling a strategic move to establish a presence in the European defense electronics market. Hensoldt, a UK-based company, specializes in state-of-the-art radar systems for managing and securing busy shipping lanes, ports, waterways, and coastlines.
Major companies operating in the vessel traffic management market include Kongsberg Gruppen ASA, Wartsila Corp, Thales Group, Leonardo SPA, Saab AB, Indra Sistemas SA, Rolta India Ltd., Tokyo Keiki Power System Inc., L3harris Technologies, Signalis GmbH, Singapore Technologies Engineering Ltd., Marlan Maritime Technologies, Xanatos Marine Ltd., Vissim UK Ltd., Transas Ltd., Kelvin Hughes Limited, Frequentis AG, Lockheed Martin Corporation, Raytheon Company, Japan Radio Co. Ltd., Marimatech AS, MarineTraffic Ltd., Navis Holdings LLC, Pharos Marine Automatic Power Inc., Pole Star Space Applications Ltd., Prisma Electronics SA, Rutter Inc., SRT Marine Systems plc, Tidetech Commercial Marine Pty Ltd., VesselBot Pte. Ltd.
North America was the largest region in the vessel traffic management market in 2024. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the vessel traffic management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the vessel traffic management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The vessel traffic management market includes revenues earned by entities by providing services such as marine traffic monitoring, E-navigation, long-range identification and tracking, automated traffic systems thinking. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Vessel Traffic Management Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on vessel traffic management market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for vessel traffic management ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The vessel traffic management market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.