DUBLIN--(BUSINESS WIRE)--May 14, 2018--The "Global Vessel Tracking Systems Market - Segmented By Platform (On-Shore, Vessel), Tracking Technology (AIS, SAR, LRIT), End-users and Region - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.

The vessel tracking systems market is expected to register a CAGR of 11.4%, during the forecast period (2018-2023).

The marine industry has been on a prosperous path in the recent five year period registering considerable growth across the various sectors within the industry, with ocean shipping in particular being the most prominent contributor towards this growth. The maritime industry has been on the cusp of evolution in response to constant changes in the economic, political, and technological trends governing the growth of the industry.

Information exchange forms the basis for different segments within the maritime industry to coordinate with each other, in order to enable smooth functioning. Effective communication between the governing authorities and the vessel out on sea is crucial in ensuring the operation is performed without any major challenge capable of disrupting the entire process.

Key Highlights

LRIT Emerging as a Key Enabler to Improve Maritime Domain Awareness Asia-Pacific Poised to Witness the Highest Growth in the Vessel Tracking Systems Market

Key Developments In The Market

March 2018 - Transas Marine limited was acquired by Wartsila Oyj Abp in order to accelerate its Smart Marine ecosystem. However, the company is being allowed to operate as a separate entity, and will get to work within a global maritime company in delivering its solutions, bringing scale and value to the industry in need of innovation

Companies Mentioned

Big Ocean Data Orbcomm Inc. S.A. Group Echol Tech Pte Ltd. L-3 Communication Holding Ltd. Wartsila OYJ ABP CNS Systems AB Raytheon Company Harris Corporation

Key Topics Covered

1. Introduction

2. Research Methodology

3. Market Insights

4. Market Dynamics

5. Global Vessel Tracking Systems Market Segmentation

6. Competitive Landscape - Key Vendor Profiles (List not Exhaustive)

7. Investment Analysis

8. Future Market Outlook

For more information about this report visit https://www.researchandmarkets.com/research/c9km4x/vessel_tracking?w=4

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Related Topics:Maritime,Location Based Services

KEYWORD:

INDUSTRY KEYWORD: TRANSPORT MARITIME LOGISTICS/SUPPLY CHAIN MANAGEMENT

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 05/14/2018 11:50 AM/DISC: 05/14/2018 11:50 AM

http://www.businesswire.com/news/home/20180514005998/en