Vessel Monitoring System for Fishery Market size is estimated to be USD 1.2 Billion in 2024 and is expected to reach USD 2.5 Billion by 2033 at a CAGR of 9.2% from 2026 to 2033.
South Korea has implemented a comprehensive Vessel Monitoring System (VMS) to enhance maritime safety, enforce fishing regulations, and combat illegal, unreported, and unregulated (IUU) fishing activities. This system is crucial for maintaining the integrity of the fishery market and ensuring sustainable practices.
Key Components of the Vessel Monitoring System:
Automatic Identification System (AIS): Mandated for fishing vessels to automatically transmit location and speed data, facilitating real-time tracking and monitoring.
Vessel Monitoring System (VMS): Required for distant water fishing vessels and overseas cargo transportation businesses, providing hourly updates on vessel positions.
Long Range Identification and Tracking (LRIT): Utilized for extended monitoring of vessels operating in international waters.
Industry Requirements and Compliance:
Installation Mandates: Fishing vessels must install VMS devices before departing from port, as stipulated by the Ministry of Oceans and Fisheries.
Reporting Obligations: In cases of equipment malfunction or loss, vessel owners or captains are required to report to the Coast Guard promptly and ensure timely repairs or replacements.
Financial Support: The government may subsidize installation costs to encourage compliance among vessel owners.
Market Dynamics and Growth:
Market Expansion: The South Korean vessel tracking system market is projected to grow at a CAGR of 8.7% between 2024 and 2032, driven by increasing energy imports and investments in port infrastructure.
Technological Advancements: The integration of satellite communication systems, such as Inmarsat’s IsatData Pro, enhances global coverage and data transmission capabilities.
Defense and Security: The Navy and Marines utilize VMS for operational awareness and training, contributing to national security efforts.
International Collaboration:
Bilateral Agreements: South Korea and China have agreed to mandate AIS activation for Chinese fishing vessels operating in South Korea’s Exclusive Economic Zone (EEZ), aiming to reduce illegal fishing activities.
Regulatory Harmonization: South Korea proposes amendments to international conservation and management measures to ensure consistent definitions of serious violations, such as tampering with VMS equipment.
Implementing a robust Vessel Monitoring System for the fishery market is essential for South Korea to safeguard its maritime resources, support industry stakeholders, and uphold international fishing standards.
Get an In-Depth Research Analysis of the South Korea Vessel Monitoring System for Fishery Market Size And Forecast [2025-2032]
Inmarsat
Addvalue
Network Innovations
Trackwell
Pole Star Space Applications
CLS
BlueTraker
Visma
NSSLGlobal
Orolia Maritime
Iridium
Orbcomm
Faria Beede
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
Get Discount On The Purchase of the South Korea Vessel Monitoring System for Fishery Market Size And Forecast [2025-2032]
Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Vessel Monitoring System for Fishery Market
Fishing Vessels
Research Vessels
Support Vessels
Onboard Systems
Mobile Systems
Hybrid Systems
Commercial Fishing
Recreational Fishing
Research & Monitoring
Fleet Management
Satellite-Based Systems
Radio Frequency Identification (RFID)
Automatic Identification Systems (AIS)
Global Positioning System (GPS)
Hardware
Software
Services
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
For More Information or Query, Visit @ South Korea Vessel Monitoring System for Fishery Market Research Analysis
1. Introduction of the South Korea Vessel Monitoring System for Fishery Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Vessel Monitoring System for Fishery Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Vessel Monitoring System for Fishery Market, By Type
6. South Korea Vessel Monitoring System for Fishery Market, By Application
7. South Korea Vessel Monitoring System for Fishery Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Vessel Monitoring System for Fishery Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
About Us: Verified Market Reports
Verified Market Reports is a leading Research and Consulting firm servicing over 5000+ clients. We provide advanced analytical research solutions while offering information-enriched research studies. We also offer insights into strategic and growth analyses and data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance using industrial techniques to collect and analyze data on more than 25,000 high-impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise, and years of collective experience to produce informative and accurate research.
Contact us:
Mr. Edwyne Fernandes
US: +1 (650)-781-4080
US Toll-Free: +1 (800)-782-1768
Website: https://www.verifiedmarketreports.com/