Dublin, July 19, 2022 (GLOBE NEWSWIRE) — The “Boat Monitoring Market – Global Outlook and Forecast 2022-2027” report has been added to from ResearchAndMarkets.com offer.
Boat monitoring systems track and monitor a boat’s speed, position, and direction of travel. The monitoring system is divided into position and tracking, control system, security system and others. The demand and adoption of water activities is high in the United States for many reasons such as increased urbanization and rising standard of living, increase in socializing sports, building memories and family experiences and disconnection from work.
The growing importance and acceptance of boat monitoring systems has increased the growth of the market in the coming years. Manufacturers are trying to boost the demand for boat monitoring devices by adding the latest technologies, such as IoT engagement solutions, to simplify and improve the boating experience.
Adding joysticks to control the boat is also a step towards providing a gaming experience. Sending alerts, security and theft prevention, remote control of boats, maintenance, Reduction in insurance costs and fleet managers are the significant benefits driving the growth of the market.
Technological advances
In 2021, the boat monitoring market has witnessed a surge in the launch of technologically advanced boat monitoring systems. The technology is increasingly being used as a tool for monitoring and controlling boats.
It has become much easier to track and monitor boats thanks to advances in technology.
Some of the boat monitoring technologies used in the industry are:
Automatic positioning systems: This system acts as a virtual anchor for the boat. This boat technology uses GPS satellites to maintain a boat’s current position. This system helps boaters explore the surroundings without worrying too much about leaving their boat unattended.
Boats with built-in tracking devices: This technology uses GPS to track a boat. This is advantageous in emergency cases, where emergency services can reach the desired location in less time because the exact location is known by GPS.
Beacons: These devices can send messages to smartphones within their range of connectivity. Beacon-equipped boats send detailed boat information to the user’s smartphone. For example, Boatpilot’s BoatGod receives data from the vessel’s onboard devices and allows users to control vital boat functions, literally turning the boat into a smart home.
Self-driving boats are considered the future of sailing where boaters can enjoy family time while the boat navigates a pre-set route. For example, MIT and the Amsterdam Institute for Advanced Metropolitan Solutions demonstrated Robot’s autonomous boat.
Market dynamics
Trends: Growth of the Marine Tourism Industry
Maritime and ocean tourism is one of the fastest growing sectors of the global tourism industry. The growing maritime tourism industry has supported the growth of the boat surveillance market in recent years. In the United States, states like California, Florida, and New York are major tourist attractions in the country. These states attract millions of domestic and international tourists every year.
Drivers: Boat market growth
Boating demand and consumer interest are increasing as people seek out boating as an outdoor activity, especially as other leisure activities, travel and sports continue to be affected by COVID-19. According to the National Marine Manufacturers Association (NMMA), retail sales of new motorboats topped 300,000 units in 2021 for the second straight year and a 7% increase in five-year average sales.
Constraints: lack of awareness
The penetration of boat monitoring systems is significantly lower in emerging and underdeveloped countries such as Brazil, India, Turkey and others. Boat monitoring systems are mainly concentrated in developed economies such as Australia, Canada, Japan, United States and Western European countries. Countries in the Latin American region with low economic growth have lower demand for vessel monitoring systems.
Answers to key questions
1. What is the size of the global boat monitoring market?
2. What is the growth rate of the global boat monitoring market?
3. What are the growth factors in the global boat monitoring market?
4. Who are the key players in the global boat monitoring market?
5. Which region is expected to hold the largest share of the global boat monitoring market by 2028?
Main topics covered:
1 Research methodology
2 research objectives
3 Research process
4 Scope and coverage
4.1 Market definition
4.2 Base year
4.3 Scope of the study
4.4 Market Segmentation
5 Report assumptions and caveats
5.1 Main caveats
5.2 Currency conversion
5.3 Market Derivation
6 The market at a glance
7 premium previews
7.1 Market Overview
7.2 Technological advances
7.3 Market Dynamics: Key Trends, Drivers and Restraints
7.4 Sector analysis
7.5 Geographical analysis
7.6 Competitive Landscape
7.7 About the report
8 Presentation
8.1 Overview
8.2 Vessel Monitoring Components
8.3 Technology used in vessel monitoring
8.4 Technological Advancements in Boating Industry
8.5 Value chain analysis
8.6 Impact of Covid-19
8.7 World economy
9 Opportunities and Market Trends
9.1 Technological Advancements in Marine Industry
9.2 Expand Opportunities in Electric Boats Industry
9.3 Growth of Marine Tourism Industry
10 Market Growth Catalysts
10.1 Increase in participation in yachting activities in Europe
10.2 Focus more on preventing bad weather conditions
10.3 Security and theft prevention
10.4 Boat Market Growth
11 Market Constraints
11.1 Commodity Price Volatility Affecting Supplier Margins
11.2 Lack of awareness
12 Market landscape
12.1 Market Size and Forecast
12.2 Five forces analysis
13 Monitoring system
13.1 Market Overview and Growth Driver
13.2 Market Overview
13.3 Position and tracking
13.4 Control system
13.5 Security system
13.6 Others
14 Application
14.1 Market Overview and Growth Driver
14.2 Market Overview
14.3 Boats
14.4 Boats
14.5 Others
15 Geography
15.1 Market Overview and Growth Driver
15.2 Geographic overview
16 North America
16.1 Market Size and Forecast
16.2 Monitoring system
16.3 Application
16.4 Key Countries
17 Europe
17.1 Market Size and Forecast
17.2 Monitoring system
17.3 Application
17.4 Key Countries
18 years old
18.1 Market Size and Forecast
18.2 Monitoring system
18.3 Application
18.4 Key countries
19 Latin America
19.1 Market Size and Forecast
19.2 Monitoring system
19.3 Application
19.4 Key Countries
20 Middle East and Africa
20.1 Market Size and Forecast
20.2 Monitoring system
20.3 Application
20.4 Key countries
21 Competitive landscape
21.1 Competition Overview
22 company profiles
22.1 Azimut-Benetti Group
22.2 Brunswick Society
22.3 Beneteau Group
22.4 Yamaha
22.5 Gost
22.6 Oceans of solutions
22.7 Electronic Navi
22.8 Smart Switch
22.9 Garmin
22.10 Monnit
22.11 Kobelt
22.12 C-Pod Safety Systems
22.13 Mermaid Marine
22.14 Mastervolt
22.15 Sentinel
22.16 Sentinel Yacht
22.17 Electronic Gem
22.18 C.Technology
22.19 Vanemar
22.20 Barnacle Systems
23 Report Summary
23.1 Key points to remember
23.2 Strategic Recommendations
24 Quantitative summary
24.1 Geography
24.2 North America
24.3 Europe
24.4 Apac
24.5 Latin America
24.6 Middle East and Africa
24.7 Monitoring system
24.8 Application
25 Appendix
For more information on this report, visit https://www.researchandmarkets.com/r/u6k5jj
