Global market for Vessel Traffic Services (VTS) is expected to reach about 346.79 million USD by 2022

The global market for Vessel Traffic Services (VTS) is expected to reach about 346.79 million USD by 2022 from 243.50million USD in 2017, registering a Compounded Annual Growth Rate (CAGR) of 7.32% during the analysis period, 2017-2022.

Publisher: QYResearch

Published Date: 2018/6/5

First, for industry structure analysis, the Vessel Traffic Services (VTS) industry is relatively concentrated. These manufacturers range from large multinational corporations to small privately owned companies compete in this industry. The top five producers account for about 57.80 % of the revenue market.

Second, the market size of Vessel Traffic Services (VTS) increased from 173.10 million USD in 2012 to 228.63 million USD in 2016 with an average growth rate of 7.20%.

Third, Europe occupied 36.10% of the market in 2016. It is followed by Asia-Pacific and North America, which respectively account for around 26.06% and 15.72% of the global total industry. Other countries have a smaller amount of market.

Fourth, the primary purpose of the original port VTS was to prevent vessel collisions and groundings in the port and entrance areas. The attitude towards the scope of a VTS has been widened to give it a key role in environmental protection in the event of maritime accidents. Vessel Traffic Services (VTS) coverage is expanding to include coastal areas, shipping channels and sensitive offshore areas.

Fifth, for forecast, the global Vessel Traffic Services (VTS) revenue would keep increasing with annual growth rate with 6~8%. We tend to believe that this industry still has a good future, considering the current demand of Vessel Traffic Services (VTS).

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