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Automatic Identification System Market Has Huge Growth $225.05 Million by 2020

The global market for AIS is estimated to reach $225.05 million by 2020, registering a CAGR of 4.33%. Asia-Pacific is expected to register a higher CAGR, led by India
( | Press Release | 2017-03-06 23:10:47 )
According to market news, The global market for Automatic Identification System (AIS) is estimated to reach $225.05 million by 2020, registering a CAGR of 4.33%. Asia-Pacific is expected to register a higher CAGR, led by India.

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The PDF report provides market analysis for the global Automatic Identification System market over the next six years, which includes the study of the AIS by platform, class, and application. It includes the analysis of the drivers, restraints, and challenges that influence the AIS market along with the opportunities for its growth during the forecast period. It also discusses the industry, market, and technological trends that currently prevail in the market, in addition to the technological advancements expected to impact the global demand for AIS.

An Automatic Identification System Market is designed to enable two-way communication between various vessels and onshore-based coastal authorities. The system is capable of providing static, dynamic, and voyage data about a ship to other ships in the vicinity and to nearby coastal authorities.

According to the Regulation 19 of SOLAS (safety of life at sea) chapter V, every ship needs to integrate shipborne navigational equipment, depending upon the type of ship. In 2000, International Maritime Organization (IMO) revised the requirement of carriage of navigational equipment and passed a mandate which states that all ships should be equipped with automatic identification systems.

In the report, the Automatic Identification System Market has been divided into five major regions, namely North America, Europe, Asia-Pacific, the Middle East, and the Rest of the World (RoW). It is expected that the AIS market (including S-AIS) would be valued around $174.5 million in 2014; Asia-Pacific region is expected to register a higher CAGR during the forecast period, led by India. Enhanced management of increasing marine traffic and monitoring and tracking vessels at sea serve as the major drivers for the growth of AIS market.

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Major players in the Automatic Identification System Market include Furuno Electric Co. Ltd (Japan), Japan Radio Co. Ltd. (Japan), Saab Transponder Tech AB (Sweden), exactEarth (Canada), and ORBCOMM (U.S.) among others.

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