PUBLISHER: The Business Research Company | PRODUCT CODE: 1770121
PUBLISHER: The Business Research Company | PRODUCT CODE: 1770121
A vessel tracking system is a technological solution that utilizes the Global Positioning System (GPS) and communication networks to monitor and track the real-time location and movement of ships and boats. Its primary objective is to enhance maritime safety, optimize fleet management, and support efficient navigation by delivering precise vessel positions and status updates to operators and relevant authorities.
The primary types of vessel tracking systems include the Automatic Identification System (AIS), Vessel Monitoring System (VMS), Long-Range Identification and Tracking, Vessel Traffic Management System, and others. AIS is an automated maritime tracking technology that uses ship-mounted transponders to transmit essential information such as vessel identity, location, speed, and direction. These systems consist of various components, including hardware, software, services, communication infrastructure, and data analytics. They are used in applications such as navigation, fleet management, regulatory compliance, search and rescue operations, and cargo monitoring. Key end users include commercial shipping, fishing vessels, defense and coast guard, yachting, and research vessels.
The vessel tracking system market research report is one of a series of new reports from The Business Research Company that provides vessel tracking system market statistics, including the vessel tracking system industry's global market size, regional shares, competitors with the vessel tracking system market share, detailed vessel tracking system market segments, market trends and opportunities, and any further data you may need to thrive in the vessel tracking system market. This vessel tracking system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The vessel tracking system market size has grown strongly in recent years. It will grow from $2.07 billion in 2024 to $2.24 billion in 2025 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to the expansion of global shipping and logistics networks, the increasing integration of Internet of Things (IoT) and smart sensors in maritime vessels, rising investments in the modernization of port infrastructure, a growing emphasis on environmental monitoring and emission control, and the increased use of automated and autonomous shipping systems.
The vessel tracking system market size is expected to see strong growth in the next few years. It will grow to $3.02 billion in 2029 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to the rising demand for maritime safety and security, the growing need for real-time vessel monitoring and tracking, increasing regulatory compliance requirements in the shipping industry, and heightened concerns over piracy and maritime theft. Major trends expected in the forecast period include advancements in automatic identification system (AIS) technology, the integration of global positioning system (GPS) with vessel tracking solutions, the development of satellite-based communication technologies, progress in real-time data analytics and processing, and the emergence of cloud-based vessel tracking platforms.
The increasing maritime trade and commerce are expected to drive the growth of the vessel tracking system market in the coming years. Maritime trade and commerce involve the exchange of goods and services transported by sea between countries and regions. This growth is fueled by the expansion of global supply chains and the rising demand for efficient cross-border movement of goods. Vessel tracking systems support maritime trade and commerce by enabling real-time monitoring of vessels, improving route efficiency, and enhancing navigation safety. These systems help reduce operational risks and delays while increasing transparency and reliability in global shipping logistics. For instance, in 2024, according to the United Nations Conference on Trade and Development, global maritime trade increased by 2.4% to 12.3 billion tons in 2023, rebounding from a decline in 2022. It is projected to grow by 2% in 2024 and maintain an average annual growth rate of 2.4% through 2029. Therefore, the growth in maritime trade and commerce is contributing to the expansion of the vessel tracking system market.
Major companies in the vessel tracking system market are prioritizing the development of advanced solutions such as sensor-based tracking technologies, which integrate multiple technologies to enhance accuracy and enable real-time vessel monitoring. Sensor-based tracking uses various sensors to collect real-time data for precise detection, tracking, and monitoring of vessel movements and status. For example, in August 2022, Spire Global Inc., a US-based data and analytics company, introduced a new dark shipping detection solution that uses satellite data and advanced analytics to identify vessels that disable or manipulate their AIS transponders to conceal illicit activities. This solution offers near real-time, global vessel tracking even for ships attempting to avoid detection, thereby strengthening maritime security by aiding authorities in combating illegal fishing, sanctions evasion, and trafficking, while improving transparency and situational awareness at sea.
In April 2025, Kpler S.A., a Belgium-based data and analytics firm, acquired Spire Maritime for $241 million. Through this acquisition, Kpler aims to enhance its maritime data and analytics capabilities by incorporating Spire's satellite-based AIS technology. This integration is expected to improve real-time vessel tracking and provide more comprehensive maritime intelligence. Spire Maritime is a US-based satellite data and analytics company that specializes in tracking and monitoring maritime vessels.
Major players in the vessel tracking system market are Raytheon Company, Thales Group, Harris Corporation, Fleet Management Limited, Wartsila Corporation, SAAB Group, Kongsberg Gruppen ASA, Inmarsat Global Limited, Kpler S.A., Spire Global Inc., SRT Marine Systems plc, MarineTraffic, Big Ocean Data Ltd, vesseltracker.com GmbH, CNS Systems AB, Maritime Data Systems, Echol Tech Pte Ltd., Shipfinder.co, VesselFinder Ltd., VT Explorer, and exactEarth Ltd.
North America was the largest region in the vessel tracking system market in 2024. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in vessel tracking system report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the vessel tracking system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The vessel tracking system market consists of revenues earned by entities by providing services such as real-time vessel monitoring, route optimization, fleet management, maritime safety, and regulatory compliance through automated tracking systems. The market value includes the value of related goods sold by the service provider or included within the service offering. The vessel tracking system market also includes sales of products such as automatic identification systems (AIS), global positioning system (GPS) tracking devices, radar systems, onboard communication tools, and integrated tracking software. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods, such as installation, software updates, training, and maintenance support.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Vessel Tracking System Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on vessel tracking system market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for vessel tracking system ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The vessel tracking system market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.