Albany, NY -- (SBWIRE) -- 08/13/2019 -- The technological advancements taking place in various industries, has increased its demand from various regions worldwide. Sea freight is witnessing a huge growth across the globe. There are also huge investments made for marine industry in developed and developing countries, which has led to an increase in demand of automatic identification system especially for vessel tracking. The increasing concern for security and safety is a major reason for the growth of the vessel tracking, globally. According to the regional market analysis, APEJ is expected to lead the global automatic identification system with an expected market size of over US$ 130 Mn by the end of 2027, growing at a value CAGR of 7.1% during the forecast period. Growth of APEJ's automatic identification market is associated with high traffic in the Malacca Strait Route creating high space for AIS. The Malacca Strait experiences high density vessel traffic, and is one of the busiest routes among all sea routes. Due to the narrow route, there is the high potential of collisions. To avoid collisions, enhance security and safety, and also manage sea traffic, APEJ is projected to have a huge demand for advanced AIS for real-time navigation.
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MEA is also expected to stay a lucrative region during the forecast period. It is expected to grow at a CAGR of 6.5% during 2017-2027. The growth of MEA's automatic identification system is driven with the rise of oil business in gulf countries. These countries have a huge sea operations due to oil exports. This oil business is creating a huge demand for AIS. High speed two-way communication and navigation is required for security purposes. This region is witnessing a significant demand for AIS, and is expected to contribute to the growth of the AIS market during the forecast period. Qatar's National Security Shield Project, is also focusing on AIS, including the latest technology for the security of coastal areas. This demand from the government is creating a huge competition among vendors to stay ahead in terms of technology. The high demand for AIS in this region is fuelling the global AIS market. Furthermore, the countries in Middle East are developing the IT sector. The integration of IT in AIS has paved the way for usage of AIS in a large number of applications, thereby greatly
enhancing its utility. For instance, the use of Big Data Analytics on AIS helps defense agencies predict and detect anti-national activities with the support of domain awareness and maritime intelligence.
The incompetency of software may hinder the growth of the global market in many regions
In spite of continuous technological advancements in the software for AIS, the software still lags behind many attacking methods developed till now. The technology will still take some more time to reach perfection. For instance, the software in AIS is not able to check if messages actually originate from vessels sending them, which gives a chance for attackers to spoof or hijack information. These technical complexities which the software still lags behind and can pose restraints for the AIS market growth. The AIS sometimes predict wrong weather. The transmission of fake weather forecasts related to AIS can also pose a great challenge for its market growth.
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