Pune, India -- (SBWIRE) -- 04/23/2019 -- Our latest research report entitled Automatic Identification Systems Market (by platform (onshore, vessel-based platform), class (AIS Base Stations, class A AIS, class B AIS), application (fleet management, maritime security, vessel tracking)) provides complete and deep insights into the market dynamics and growth of automatic identification systems. Latest information on market risks, industry chain structure automatic identification systems cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential automatic identification systems growth factors. According to the report the global automatic identification systems market is expected to grow at a CAGR of 3.2% over the forecast period of 2018 - 2024.

The forecast automatic identification systems market information is based on the present market situation, growth opportunities, development factors, and opinion of the industry experts. An in-depth analysis of the company profiles, automatic identification systems on the global and regional level and applications is conducted. The analysis of downstream buyers, sales channel, raw materials, and industry verticals is offered in this report.

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Automatic Identification System (AIS) Market: Insights

Automatic Identification System (AIS) is an automatic tracking system used on ships and by vessel traffic services (VTS) for identifying and tracking vessels by electronically exchanging data with other nearby ships and AIS base stations. AIS information supplements marine radar, which continues to be the primary method of collision avoidance in the maritime arena. Maritime vessels possess security threat such as natural disasters, terrorism, illegal immigration, and drug trafficking. Several vicious entities have used small boats to conduct illegal activities for years, and they continue to do so today. Illegal drugs, money, weapons, and migrants flow both directions across our maritime borders, as vessels can quickly complete these transits without detection.

Increasing World Trade and the Need for Maritime Traffic Management Drives the Growth of the Market

The increasing world trade and the need for maritime traffic management is a factor that drives the growth for the AIS market. Further, International shipping industry plays a major role in global trade. Nearly 90% of the goods movement is through ships. There are more than 50,000 merchant ships moving the volume of goods to different destinations. The container ships have changed the shipping industry. According to the World Trade Organization, the global merchandise exports increased to USD 17.73 trillion, with a growth rate of 4.7%in 2017. AIS eliminate the requirement of calling a vessel on VHF to transfer message to seek identification of another vessel. AIS decrease the requirement for extensive collision avoidance equipment. AI reduces the reliance on voice communications for identifying vessels. AIS data is a good source for studying the maritime traffic in busy ports, shipping lanes, and other coastal regions of importance. Since AIS, devices in vessels transmit data to and from with the ships in the vicinity, the possibility of tracking the vessels is greater. Additionally, Need for augmented coastal surveillance and SOLAS and Government regulations are boosting the growth for this market.

Automatic Identification System Market by Platform

The global automatic identification systems market is bifurcated into platform, class, and application. The platform segments include onshore-based platform and vessel-based platform. The global AIS market by the platform was dominated by the vessel-based platform in 2017. It was worth 163 USD million in 2017 and it is expected to reach 211.7 USD million in 2024. The automatic identification system is an automatic tracking system that uses transponders on ships. It is used by vessel traffic services. The use of automatic identification system aims to simplify the positioning of vessels with regard to their environment. AIS provides vessel identification, enhancing the ability of captains to communicate with other vessels to establish intentions and to coordinate maneuvers in restricted waters. Therefore, the demand for the vessel-based platform is growing fast as compared to on-shore based platform. While the vessel-based platform is set to grow with a CAGR of 3.9% over the period 2018 - 2024.

Automatic Identification System Market by Class

Basis on class the global automatic identification systems market is categorized into AIS Base Stations, class A AIS, and class B AIS. Class B AIS dominated the global AIS market by class in 2017. It was worth 103.9 USD million in 2017 and it is expected to reach 137.2 USD in 2024. Further, the key differences between Class A and B AIS are lower transmitting power, slower refresh rates, and data transmission method. Moreover, Class B units operating CSTDMA monitor the time slots to sense the presence of a Class a transmission. Therefore, the demand for class B AIS is growing fast as compared to other class. While the class B AIS is set to grow with a CAGR of 4.2% over the period 2018 - 2024.

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Automatic Identification System Market by Application

The basis on application the global automatic identification systems market is segmented as fleet management, maritime security, vessel tracking, and others. Vessel tracking has dominated the global AIS market by class in 2017. It was worth 74.9 USD million in 2017 and it is expected to reach 100.9 USD million in 2024. Additionally, AIS enables marine and naval vessels to track, identify and monitor a ship's position, location and any other detail that might be important in maneuvering and stabilizing a ship's route and course, thus promoting the growth of AIS for the purpose of vessel tracking. While the vessel tracking is set to grow at a CAGR of 4.5% over the period 2018 - 2024.

Region Analysis

Among the region, the market is divided into North America, Europe, APAC, and RoW. North America dominated the global automatic identification systems market. North America is expected to reach a value of USD 86.2 million by 2024 in Automatic Identification System market. The Automatic Identification System market in this region is estimated to exhibit growth of 4.30% CAGR over the period from 2018 to 2024. The US is the main key country that dominates the North America region. According to U.S Department of Homeland security, The U.S. Coast Guard has developed rules applicable to both U.S. and foreign-flag vessels that require owners and operators of most commercial vessels operating on U.S. navigable waters to be outfitted with an Automatic Identification System (AIS).

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