Middle East and Africa Vessel Monitoring System Market to be Driven by the Greater Monitoring of Vessels to Curb Illegal Fishing in the Forecast Period of 2022-2027

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Middle East and Africa Vessel Monitoring System Market

The new report by Expert Market Research titled, ‘Middle East and Africa Vessel Monitoring System Market Share Report and Forecast 2022-2027’, gives an in-depth analysis of the Middle East and Africa vessel monitoring system market, assessing the market based on its segments like vessel types, applications, and major countries.

The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

Get a Free Sample Report with Table of Contents@  https://www.expertmarketresearch.com/reports/middle-east-and-africa-vessel-monitoring-system-market/requestsample

Middle East and Africa Vessel Monitoring System Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast

The key highlights of the report include:

Market Overview (2017-2027)

• Forecast CAGR (2022-2027): 9.9%

The necessity for higher levels of vessel monitoring, control, and surveillance (MCS) is anticipated to augment the Middle East and Africa vessel monitoring system market. Several factors, including increased demand from the fisheries and cargo vessel industries to keep an eye on commerce in order to reduce illicit deals, are fuelling the market growth.

Also, an increase in demand for new vessels for various applications in the oil and gas sector and shipping business, a dearth of supply chains in ship repair and maintenance services, and a rise in production of vessels are projected to augment the demand for a vessel monitoring system in the near future. Increased international trade of items other than fisheries is expected to positively impact demand for advanced tracking technologies, such as VMS software.

Middle East and Africa Vessel Monitoring System Market Industry Definition and Major Segments

Fisheries authorities, coastguards, and navies use vessel monitoring systems for surveillance, search and rescue, resource management, and fisheries regulation. The system also allows enforcement personnel to focus their efforts on areas where substantial breaches are most likely.

By vessel type, the market is segmented into:

• Fishing Vessel
• Cargo Vessel
• Service Vessel
• Passenger Ships and Ferries
• Others

The major applications of the market are:

• Fisheries Management
• Surveillance
• Others

On the basis of country, the market is classified into:

• Saudi Arabia
• United Arab Emirates
• Nigeria
• South Africa
• Others

Middle East and Africa Vessel Monitoring System Market Trends

In countries like Nigeria, installing a vessel monitoring system is expected to allow fisheries management authorities to monitor near real-time movements, offer directions for vessel inspections upon detected breaches which restricts the costs of routine patrols, enhance compliance with fisheries regulations, and improve the efficacy of search and rescue missions.

Further, the installation and application of a vessel management system would help reduce criminal activity on Nigerian seas by discouraging illicit maritime activity and enhancing obedience to fisheries regulations. This is propelling the growth of the vessel monitoring system in the Middle East and Africa.

Ambitious national targets, rapid technological advancements, and international agreements have prompted companies across the world to upgrade their shipping vessels. This is expected to augment the vessel monitoring system market.

Key Market Players

The major players in the market are

  • Applied Satellite Technology Ltd,
  • CLS Fisheries,
  • ORBCOMM Inc.,
  •  Trackwell,
  • others.

The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

About Us:

Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.

EMR customises syndicated reports according to clients’ requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.

Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.

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