Europe Maritime Real-time Positioning System Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Component, Technology, Application, and Vessel Type

Europe Maritime Real-time Positioning System Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Component, Technology, Application, and Vessel Type

  • November 2020 •
  • 138 pages •
  • Report ID: 5999689 •
  • Format: PDF
The Europe maritime real-time positioning system market is expected to grow from US$ 42.91 million in 2019 to US$ 383.78 million by 2027; it is estimated to grow at a CAGR of 32.0% from 2020 to 2027. Increase in use of RFID in shipping industry across Europe is expected to boost the Europe maritime real-time positioning system market growth. The integration of digital technologies in maritime processes, operations, and business models to enhance productivity, increase security, and reduce operational costs has been growing at an unprecedented rate. Marine companies and vessel manufacturers across the Europe are embracing digitalization to transform their maritime processes for achieving high operational throughput and for increasing their profits. The key areas for digital transformation in the maritime industry include the development of new business models, digitalization of core operations, and using analytics for better decision making. For instance, the Europe maritime industry is using RFID technologies to navigate and manage their vessels in waterways. The enterprises are executing RFID technology to solve staggering losses, cargo threats, piracy, and other problems. In the current scenario, RFID technology successfully gets utilized in numerous maritime business process areas and gives real value to the vessel companies or end users. The vessel owners and ocean carrier’s owners can themselves maintain, repair, and track their assets to make the best out of revenues. Advantages of RFID technology, such as protection against frauds and thefts, assistance in tracking loss and damage, and container tracking, are expected to increase its demand in coming years, which would drive the Europe maritime real-time positioning system market. Rise in number of cargo vessels is among the other factors driving the Europe maritime real-time positioning system market.
Europe, especially Russia and the UK, is highly affected due to the COVID-19 outbreak.Europe is a major manufacturing and industrial hub for several industrial sectors, such as automotive, aerospace & defense, energy & power, pharmaceuticals, and food & beverages.

Hence, logistics and transportation plays a crucial role in ensuring the development and growth of these industries in the region.The sea freight is an essential part of the region’s economy.

The UK’s logistics and transportation sector is widely spread and handles significantly higher volumes of food & beverages, pharmaceuticals, and chemicals.Owing to the rise in number of COVID-19 infected patients, the British government imposed strict lockdown measures, which have negatively affected the maritime real-time positioning system market in the country.

The Association of European Freight Forwarders and Polish Chamber of Forwarding and Logistics have already raised warnings regarding the limited export loads as well as delays in port operations, owing to non-availability of operators and manpower, which is expected to affect the Europe maritime real-time positioning system market negatively.

Based on component, the hardware segment led the Europe maritime real-time positioning system market in 2019.The hardware is a basic component used for manufacturing maritime real-time positioning system.

Companies across Europe, such as Zebra Technologies, provide real-time locating system (RTLS) technologies that play a crucial role in organizing tracking processes.Zebra Technologies’ RTLS technology utilizes sophisticated hardware infrastructure to obtain real-time data required to locate, find, track, and manage critical assets—such as containers used in marine terminal operations.

The hardware of the maritime real-time positioning system consists of readers and trackers, tags/badges, and more.The readers and trackers are integrated into the assets which are supposed to be tracked.

These trackers and readers help in giving a real-time view of marine traffic, ranging from overview to a single ship. The tags or badges allow the user to maximize the Wi-Fi assets and fulfill location requirements. These tags are also beneficial for supporting multiple applications, scenarios, and requirements easily and are ideal for use in explosive and hazardous environments. Advantages of hardware component of maritime real-time positioning systems—such as real-time view of marine traffic and maximizing Wi-Fi asset—are expected to increase its demand in coming years, which would drive the Europe maritime real-time positioning system market.
The overall Europe maritime real-time positioning system market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the Europe maritime real-time positioning system market.

The process also serves the purpose of obtaining overview and forecast for the Europe maritime real-time positioning system market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants who typically take part in such a process include industry experts, such as VPs, business development managers, maritime real-time positioning system market intelligence managers, and national sales managers, along with external consultants such as, valuation experts, research analysts, and key opinion leaders specializing in the Europe maritime real-time positioning system market. DIMEQ AS, FAVENDO GMBH, Martek Marine, MER Group, ORBCOMM Inc., and Zebra Technologies Corporation are among a few players operating in the Europe maritime real-time positioning system market.
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