Vessel tracking system refers to a system that monitors the real-time location of ships through technological means, thereby achieving remote real-time tracking of the safety production and schedule execution of ships. It mainly utilizes technologies such as Global Positioning System (GPS) and Automatic Identification System (AIS) to achieve ship position tracking and navigation monitoring. ‌

Overview of Market Development

The global vessel tracking system market has shown a steady growth trend in recent years. With the advancement of technology and the development of the shipping industry, vessel tracking systems are playing an increasingly important role in navigation safety, route planning, cargo tracking, and traffic management. According to our research data, the estimated global market size for vessel tracking systems in 2024 is $369 million, an increase of 5.38% compared to 2023.

It is expected that the global market size of vessel tracking systems will continue to expand in the coming years. Meanwhile, with the development of emerging markets and technological innovation, the market will face more opportunities and challenges. It is expected that by 2029, the global market size of vessel tracking systems will further increase to $484 million. The CAGR for 2024-2029 is estimated to be 5.58%.

Analysis of Market Development in Major Regions

From a regional perspective, the global vessel tracking system market is dominated by three major regions: North America, Europe, and Asia Pacific. These three major regions hold over 90% of the global market share. Among them, North America is the largest revenue market. Data shows that the market size of North American vessel tracking systems is expected to reach $132 million in 2024, with an estimated market share of 35.68%.

Source: www.globalmarketmonitor.com

Segmented Market Analysis

There are various classifications of vessel tracking systems. Divided by application scenarios, there are vessel monitoring systems (VMS) for monitoring fishing activities, as well as LRIT systems for remote identification and tracking of vessels. According to the different clients, vessel tracking systems can be divided into two categories: web application systems and software systems. Among them, software systems dominate the market. The market share is expected to reach 60.27% in 2024.

	Market Size (Million USD)	Market Share
Segmented by Type
Web Application systems	147	39.73%
Software Systems	223	60.27%