Automatic identification system refers to a maritime communications device which functions as an automatic tracking system used for avoiding collision on ships by the vessel traffic services. It automatically transmits their identity, position, course, speed and destination to each other and to coast stations. This information can be used by other ships to take account of their movements and by coast stations for coastal surveillance and vessel traffic management.
Owing to rising safety concerns International Maritime Organization has come up with the mandatory regulation to use automatic identification system is a key factor driving growth of the global automatic identification system market. The regulation requires AIS to be fitted aboard all ships of 300gt and upwards engaged on international voyages, cargo ships of 500GT and upwards not engaged on international voyages and all passenger ships irrespective of size. The requirement became effective for all ships in December, 2004. In addition, with the increasing world trade and marine traffic are other factors expected to fuel growth of the global automatic identification system market over the forecast period.
Moreover, increasing adoption for automatic identification system in maritime sector across the globe is the ongoing trend observed, which is expected to support market growth in the near future. The market players associated are engaged in research & development with continuous upgradation in their product portfolios in order to meet the demands of the competitive automatic identification system market. The growth of satellite and cloud based communication is creating opportunities for players to develop suitable offerings which integrate modern AIS with satellites. Cloud management for AIS is expected to have a high demand in the market due to its advanced and smart features.
The global automatic identification system market report has been segmented on the basis of class, platform, application, and region. On the basis of region, the global automatic identification system market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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The North America market dominates the global automatic identification system market in terms of revenue. The market in Asia Pacific is projected to have fastest growth with highest CAGR, owing to increasing adoption for automatic identification system across various vessel types in the region.
Key players in the global automatic identification system market include, Furuno Electric Co. Ltd, Japan Radio Co. Ltd., Saab Transponder Tech AB, ExactEarth Ltd., ORBCOMM Inc., StormGeo, Iridium Communications Inc., Thales Group, Garmin International and Raytheon Marine GmbH.