Automatic Identification System Market worth $1076.34 M by 2020, According to a New Study on ASDReports

According to a new market research, now available on ASDReports, "Automatic Identification System Market by Class (Class A, Class B, & Only Receiver), by Platform (Vessel-Based, Onshore-Based & Satellite Based), by Application (Traffic Management, Vessels Tracking, Ocean Race Management, Maritime Security, Marine Environment Protection, and Fishery Control) and by Geography - Global Forecasts & Analysis to 2014 - 2020", Global automatic identification system market to reach $1076.34 million by 2020, the Asia-Pacific region to experience highest growth during the forecast period.

Evolution of marine transport and fundamental changes in international trade has a direct impact on development of new technologies in order to manage the growing marine traffic. Globalization is considered to be a major and the most important factor that has built and expanded the marine transport industry as it stands today.

Increasing world trade and growing marine traffic are considered as a major aspect leading to the transformation marine transport. Over the last decades usage of automatic identification systems witnessed a drastic increase. The concerned authorities made significant investments, in order to integrate automatic identification systems that helped in reducing marine accidents and enhancing marine traffic management.

The global market for automatic identification system has been bifurcated on the basis of on the basis of platform (Vessel-based, onshore-based, and satellite-based), on the basis of Class (Class A, Class B and Only receiver), on the basis of Application (traffic management, vessels tracking, ocean race management, maritime security, marine environment protection, and fishery control) and by Geography including major region and countries.

The global market for automatic identification system is estimated to reach $1076.34 million by 2020, registering a CAGR of 4.99%. Asia-Pacific is expected to register higher CAGR, led by China and the total market for automatic identification system in this specific region is projected to account higher market share as compared to other regions.  It is reported that large scale terrestrial automatic identification system development program implemented by the concerned authorities in this specific region is the major factor that will drive the demand of automatic identification system, furthermore fuelling the growth of automatic identification system market.

Major players in automatic identification systems market include Furuno Electric Co. Ltd (Japan), Japan Radio Co. Ltd. (Japan), Saab Transponder Tech AB (Sweden), exactEarth (Canada), ORBCOMM (U.S.) among others.

Read more on ASDReports or Download Report Information

Source: ASDReports - Market Research
Date: May 28, 2015