Global Connected Ship Market Overview 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Connected Ship Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global connected ship market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global connected ship market size reached US$ 5.76 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.68 Billion by 2028, exhibiting a growth rate (CAGR) of 5.10% during 2023-2028.
A connected ship, often known as a vessel equipped with advanced communication and data exchange systems, maintains seamless connectivity to onshore networks and other ships while navigating the open sea. This technology encompasses various components, including satellite communication, Internet of Things (IoT) sensors, and data analytics tools. It empowers real-time monitoring of essential ship parameters such as engine performance, navigation, weather conditions, and cargo status. Additionally, it enables remote diagnostics, predictive maintenance, and rapid sharing of critical information between ships and onshore agencies, enhancing the agility and responsiveness of the maritime industry. Furthermore, connected ships can instantly transmit distress signals to authorities and neighboring vessels, ensuring swift and coordinated responses to emergencies at sea. They also play a pivotal role in enhancing operational efficiency, reducing downtime, and minimizing fuel consumption. As the demand for on-site maintenance diminishes, the global demand for connected ships continues to rise.
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Global Connected Ship Market Trends and Drivers:
Currently, the market is experiencing substantial growth driven by several key factors. Firstly, the increased adoption of connected ship technologies aimed at optimizing operations and enhancing overall efficiency is a significant driver. Moreover, the rising demand for connected ships, which offer real-time monitoring and communication capabilities to mitigate risks, is contributing to a positive market outlook. Furthermore, the market is being bolstered by the growing necessity for advanced cybersecurity measures to safeguard against cyber threats. Additionally, the maritime industry’s increasing embrace of eco-friendly practices to reduce emissions presents lucrative growth opportunities for industry investors. In addition to these factors, the growing demand for connectivity among crew members and passengers is exerting a positive influence on the market. Concurrently, the expanding use of connected ship technologies for data collection and analysis to support informed decision-making is accelerating market growth. Lastly, the escalating need for real-time information and communication to navigate complex international routes is further strengthening the market’s expansion.
Global Connected Ship Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are:
ABB Ltd., Atos SE, Danelec Marine A/S, Kongsberg Gruppen, Marlink, Wärtsilä Oyj Abp, etc.
The report segmented the market on the basis of region, ship type, installation type, fit, and application.
Breakup by Ship Type:
- Commercial
- Defense
Breakup by Installation Type:
- Onboard
- Onshore
Breakup by Fit:
- Line Fit
- RetroFit
Breakup by Application:
- Vessel Traffic Management
- Fleet Operations
- Fleet Health Monitoring
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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