While we were unable to locate sources that ranked (or even segmented) the market by industries and organizations for vision/camera-based maritime tracking software, we did, however, successfully identify different organizations and industries looking to adopt or making initial contracts with companies that provide this technology. Below are some helpful insights concerning five different industries/organizations (Shipping, Defense/Border Control, Fisheries Monitoring, Scientific Research Industry, and Recreational Boating) and their need for vision-based maritime tracking software systems. Note, the industries below are not ranked in any particular order.
- Maersk, which is the most profitable shipping company globally, recently entered into a contract with Sea Machines for vision/camera-based maritime detection software (specifically, AI-powered situational-awareness and object tracking using computer vision).
- 90% of trade ("by volume") depends on the shipping industry for the UK, which makes ensuring safety and security of vessels a high priority via autonomous vessels (including, AI-powered, vision-based tracking software systems that are able to detect and track objects and achieve situational awareness). Autonomous vessels are far more efficient insofar as they require far less manpower.
Naval Defense, Coast Guard, Customs and Border Control
- U.S. agencies, including the Coast Guard, Customs and Border Control (CBP), Immigration & Customs Enforcement (ICE), Border Patrol Air & Marine Operations (AMO), are increasingly relying on technological innovations--including vision-based maritime tracking software--to protect U.S. borders. The Coast Guard put out an RFI for lower cost maritime surveillance technologies.
- A September 2019 Congressional Report relays that the U.S. Navy is looking to acquire and increase spending on technologies (including vision-based maritime tracking software systems) powering autonomous vessels in its defense strategy. Another new story reports that the U.S. Navy is searching for companies to help them acquire more "electro-optical situational awareness technologies" for their warships.
- The Environmental Defense Fund put out a report in 2018 articulating the need to increase the monitoring of fisheries, ensuring they remain within catch limits set to protect habitats and prevent overfishing. Among the technologies recommended--and evaluated--are vision-based tracking software systems to monitor the compliance of fisheries with regulations.
- Global Fishing Watch announced its turn to vision based maritime surveillance to monitor and curb nighttime, illegal fishing. Vision-based technologies are particularly useful for detecting smaller vessels that either turn of their AIS transponders or do not have them.
- The Organisation for Economic Co-operation and Development (OECD) also put out together an inventory of new technologies for monitoring fisheries, including video-based tracking systems.
Scientific Research Industry
- The (U.S.) National Oceanic and Atmospheric Administration (NOAA) Fisheries division announced a partnership with commercial fisherman to collect scientific data on fisheries using new technologies, including vision-based maritime tracking software systems. Since 2006, NOAA has invested $27million in these tracking technologies.
- A 2018 industry report estimates that the recreational boating industry spending will increase to over $28.5 billion by 2024. A press release from FLIR announced a new partnership with Prestige Yachts to include vision-based tracking software systems to increase safety during boat docking.
In order to rank and/or segment the market by industry/organization in the U.S., Europe, and Canada, the team first made the assumption we could locate industry reports forecasting the projected CAGR for companies manufacturing vision-based tracking software systems. The idea here is that analysis of the market would rank the different industries in terms of their projected spending on these technologies. However, in searching market forecasting reports (e.g., Market Watch, Market Research, Smithers, and Market Reports World) we were unable to locate any focusing specifically on this market and/or that were not behind pay walls.
We then tried to get at the same information--ranking/market segmentation--by searching governmental reports (e.g. congressional reports) and white papers (e.g., NOAA) identifying and evaluating emerging technologies (e.g., maritime vision-based tracking software systems) and identifying industries that are early adopters. Our hypothesis was that governmental bodies might research this in order to contextualize their own budgetary requests for acquiring such maritime vision-based tracking systems. Unfortunately, we did not locate information with this strategy.
Finally, we attempted to search regulatory agencies over maritime related industries (e.g., recreational boating, commercial fishing, and shipping) that require monitoring/surveillance systems for safety and environmental protection. Here, we made the assumption that regulatory bodies (e.g., EPA and OECD) would identify and rank segments of the market for vision-based tracking software systems (and related systems) because of the economic importance and environmental impact of these industries/organizations. Once again, we were unable to locate sources that allowed us to rank the market with a scientific, evidence-based method.
Insofar as we were unable to rank and segment the market, we could not estimate the annual budget for ranked industries/organizations. However, from our previous searches described above, and previous research done, we made some assumptions about important industries and organizations likely to adopt vision-based maritime tracking systems. We gleaned insights underlying our assumptions from reports on the rise of autonomous vessels for monitoring--reports that also identified likely industries that would create demands (e.g., Military and Aerospace Electronics). We also followed up suggestions of industries to research from previous research on this topic.