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AtoN Management and Monitoring Systems Market is set to Expand at CAGR of 4.0% during 2018-26

Press Release

According to a new market report pertaining to the Aids to Navigation AtoN Management and Monitoring System Market published by Transparency Market Research, the AtoN management and monitoring system market is projected to reach US$ 9,075.1 Mn in 2026, driven by a rise in marine trade across the globe. The market is projected to expand at a CAGR of 4.0% during the forecast period from 2018 to 2026. The expansion of the market is attributed to high coastal security concerns and demand for AtoN management and monitoring systems from the defense sector. Asia Pacific is anticipated to lead the AtoN management and monitoring system market, followed by Europe and South America, during the forecast period.

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Increasing marine trade activity across the globe is creating significant demand for marine safety and security and marine traffic management. A rise in marine trade increases the need for appropriate navigation, continuous monitoring of vessels and routes, and managing traffic. All these factors contribute to the growth of the AtoN management and monitoring system market across the world.

VHF-based data exchange systems (VDES) provide a robust and global standard communication system for e-navigation, supporting the safety and efficiency of ship and shore operations. An increase in marine trade is expected to exert pressure on existing navigational tools.

AtoN Management and Monitoring System Market: Scope of the Report

The AtoN management and monitoring system market has been segmented based on system, type, navigation components, end-use industry, and region. In terms of system, the integrated systems segment is expected to dominate the global market in 2018.

Asia Pacific led the AtoN management and monitoring system market, accounting for a substantial share in 2017. China was a major country of the AtoN management and monitoring systems market in the region. The AtoN management and monitoring system market in North America, Europe, Middle East & Africa, and South America is also expected to expand during the forecast period.

This post was originally published on Downey Magazine