Vessel Traffic Services (VTS) Market Size, Statistics and Future Forecasts to 2027

Posted September 2, 2020 by vijaykurane

The global Vessel Traffic Services (VTS) Market is forecasted to grow at a rate of 14.76% from USD 1020.64 Million in 2019 to USD 3.12 Billion in 2027

Industry Overview of the Vessel Traffic Services (VTS) Market
The Global Vessel Traffic Services (VTS) Market is witnessing a remarkable growth owing to an increase in the demands for the products and a tremendous shift in consumer preferences. The high demand is concentrated in the European and North American countries. The report on Global Vessel Traffic Services (VTS) Market offers a comprehensive analysis of the recent advancements in the Vessel Traffic Services (VTS) industry and trends driving the growth of the market. The industry is expected to grow at a rate of 14.76 % CAGR during the forecast period from 2020-2027. The report offers the segmentation of the market on the basis of types, applications, and regions. The report is updated with the latest trends and economic scenario owing to the COVID-19 pandemic. The impact analysis of the pandemic is described in the report. A comprehensive analysis of the present and future impact of COVID-19 on the market, along with a post-COVID-19 scenario, is included in the report.
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On the basis of regional analysis, the market is segmented into key geographical regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. According to the analysis, North America is expected to dominate the market with the highest market share. Asia-Pacific is anticipated to show a significant growth rate owing to rising development and population demands.
The market is further segmented on the basis of types:
• Maintenance Service
• Operational Service
o Information Service (INS)
o Traffic Organization Service (TOS)
o Navigational Advice and Assistance Service (NAS)
On the basis of application:
• Commercial Sector
o Port and Harbor
o Inland Port
o Fishing Port
• Defense Sector
Some of the key players operating in the Vessel Traffic Services (VTS) market include:
Kongsberg Gruppen (Norway), Transas (Ireland), L3 Technologies (U.S.), Saab AB (Sweden), Thales Group (France), Frequentis (Austria), Vissim AS (Norway), TERMA (Denmark), Tokyo Keiki, Inc. (Japan), Indra Sistemas (Spain), and Kelvin Hughes (U.K.)
Beneficial Aspects of the Report:
• Global and region forecast of the Vessel Traffic Services (VTS) market from 2020-2027
• In-depth analysis of market dynamics, industry outlook, market size based on types and applications
• Details of value chain analysis, supply and demand ratio, production and consumption patterns
• SWOT Analysis, Porter’s Five Forces Analysis, Feasibility Analysis, and Investment Return Analysis to provide a better understanding of the market and competitive players
• Detailed insights on competitive landscape and emerging market trends
Research Methodology:
The market report is formulated on the basis of data obtained through extensive primary and secondary research. The data is further validated and verified by industry experts, research analysts, and professionals. The report considers regional demand and supply ratio, investments, market dynamics, capacity, end-use industry trends, and consumer behavior to generate a forecast report. The data is collected from verified sources such as government policies, regulatory published materials, journals, trade magazines, and verified data sources. The report uses advanced analytical tools such as SWOT Analysis, Porter’s Five Forces Analysis, Feasibility Analysis, and Investment Return Analysis to provide an accurate insight into the market scenario and competitive landscape. This report provides beneficial information to companies and new players to make lucrative business decisions. The market estimates and forecast data have been thoroughly verified through exhaustive primary research.
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Tags Vessel Traffic Services (VTS) Market
Last Updated September 2, 2020