According to a new report published by Introspective Market Research, titled, “APAC Vessel Monitoring Systems (VMS) Market by Type, Application, Region Global Market Analysis and Forecast, 2024-2032. The APAC Vessel Monitoring Systems (VMS) Market Size Was Valued at USD 306.60 Million in 2023 and is Projected to Reach USD 888.55 Million by 2032, Growing at a CAGR of 12.55% From 2024-2032.
A Vessel Monitoring System (VMS) is a satellite-based technology installed on fishing vessels to track their movements and activities. It comprises a mobile transmitter on the vessel, a wireless link to the National Marine Fisheries Service (NMFS) Office of Law Enforcement (OLE), and a secure facility for monitoring compliance. VMS is essential for tracking vessel locations, identifying fishing activities, and facilitating communication. For effective fisheries management, VMS capabilities must align with management rules.
According to the The APAC Vessel Monitoring Systems (VMS) Market is segmented into Vessel Type, System, End user, and Region. By Vessel Type, the market is categorized into Fishing Vessels, Cargo Ships, Passenger Ships, Offshore Support Vessels, and Naval Vessels. By System, the market is categorized into Automatic Identification System (AIS) Satellite Based Vessel Monitoring System (VMS), Long Range Identification & Tracking, and Vessel Traffic Management Systems. By End-User, the market is categorized into Fishery, Coastguards, Navy And Marines, and Defense. By region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
The Asia-Pacific (APAC) VMS market is rapidly expanding due to rising maritime traffic and stringent regulations. In 2022, China led the region with 8,839 vessels, followed by Japan (4,023), South Korea (1,696), and India (1,145), reflecting significant maritime operations that account for over one-third of global traffic.
VMS enhances safety and efficiency across various vessel types by ensuring compliance with fishing regulations and geographic restrictions. The integration of advanced technologies like Artificial Intelligence (AI) and Machine Learning (ML) is transforming VMS capabilities, enabling better data analysis and risk prediction. Despite challenges like high implementation costs and data privacy concerns, the APAC VMS market is set for substantial growth, driven by regulatory demands and technological advancements for sustainable maritime practices.
The Asia-Pacific (APAC) Vessel Monitoring Systems (VMS) market is primarily driven by the region's booming maritime trade, with countries like China, Japan, and India leading global exports and imports. As approximately 70% of the world’s container traffic passes through APAC ports, the complexity of supply chains necessitates enhanced monitoring and management of marine activities. The integration of real-time positioning technologies, such as the Automatic Identification System (AIS), further supports effective vessel tracking, promoting safety and compliance with regulations.
APAC Vessel Monitoring Systems (VMS) Market Segmentation
The APAC Vessel Monitoring Systems (VMS) Market is Segmented Based on Vessel Type, System, End-User, and Region.
By Vessel Type
Fishing vessels are specialized boats designed specifically for capturing various marine species, including shrimp, krill, and cephalopods. These vessels serve multiple purposes, being utilized in commercial, artisanal, and recreational fishing. To enhance the monitoring and control of fishing activities, the Fishing Vessel Monitoring System (VMS) has been implemented.
By End-User
The fishery sector encompasses two primary components: the activities engaged in raising or catching fish and other aquatic organisms, and the specific sites where these actions occur, commonly referred to as fishing grounds. This sector includes both wild fisheries, where fish are caught in their natural habitats, and aquaculture, where fish are cultivated in controlled environments.
Regional Insights
The rapid growth of the shipping sector in the Asia-Pacific (APAC) region is a significant driver of demand for advanced Vessel Monitoring Systems (VMS), presenting substantial market opportunities. As the number of ships continues to increase, VMS plays a crucial role in ensuring safety, effective fleet management, and compliance with international maritime regulations.
Some of The Leading/Active Market Players Are-
- Thales (France)
- Wärtsilä Corporation (Finland)
- Furuno Electric Co., Ltd. (Japan)
- Addvalue (Singapore)
- Japan Radio Co. (Japan)
- Highlander (China)
- CLS (France)
- Falcon Mega Solutions (Pakistan)
- Pivotel Group Pty Limited (Australia)
- Orbcomm (USA)
- Skymate (USA)
- Pole Star Space Applications (United Kingdom)
- Mackay Communications (USA)
- Bluetraker (Slovenia)
- Pulsar Solutions, LLC (USA)
- Trackwell FIMS (Iceland)
- ComNav (Canada)
- Ryokuseisha Corporation (Japan) Other Major active Players.
Key Industry Developments
- In April 2024, Saildrone, and Thales Australia partnered to enhance the surveillance capability of USVs, Thales Australia signed an agreement with California-based Saildrone to collaborate on integrating its BlueSentry sonar system into Saildrone's Surveyor-class unmanned surface vessels The deal was announced at the Navy League Sea-Air-Space 2024 global maritime exposition in National Harbor, Maryland.
- In March 2024, Wartsila collaborates with a leading naval engineering firm to reduce port emissions across North America. Technology group Wartsila has entered into a collaboration agreement with Elliott Bay Design Group, a naval architecture and shipbuilding firm based in Seattle, to further develop the design of the EBDG Clean Harbor Alternative Mobile Power Barge. Using Wartsila's methanol engine technology, the collaboration offers a cost-effective solution to reduce emissions from large ships in situations where traditional land-based power is limited or unavailable.
Key Findings of the Study:
- Market Growth: The APAC VMS market is projected to grow significantly, reaching USD 888.55 million by 2032, driven by increasing maritime traffic and stringent regulatory requirements.
- Dominance of Fishing Vessels: The Fishing Vessels segment is expected to dominate the market due to the specialized monitoring needs in the fishing industry and the implementation of advanced tracking technologies.
- Technological Advancements: The integration of Artificial Intelligence (AI) and Machine Learning (ML) is set to enhance VMS capabilities, enabling better data analysis, risk prediction, and optimized routing for vessels.
- Regional Leadership: China is a key player in the VMS market, leading in the number of vessels and government initiatives aimed at enhancing maritime governance and security.
- Emerging Opportunities: The increasing adoption of VMS in developing countries presents significant market opportunities, supported by rising investments in the marine sector and advancements in IoT technology.
