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 trends, size, share, 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, also known as a vessel equipped with advanced communication and data exchange systems, enables seamless connectivity to onshore networks and other ships while navigating the open seas. This cutting-edge technology encompasses a range of elements, including satellite communication, Internet of Things (IoT) sensors, and data analytics tools. These features allow for the real-time monitoring of essential ship parameters, such as engine performance, navigation, weather conditions, and cargo status. Furthermore, connected ships facilitate remote diagnostics, predictive maintenance, and the rapid exchange of critical information between ships and onshore agencies, thereby enhancing the agility and responsiveness of the maritime industry. They are also capable of transmitting distress signals to authorities and neighboring vessels in real time, ensuring a swift and coordinated response to maritime incidents. Moreover, these vessels contribute to improved operational efficiency, reduced downtime, and lower fuel consumption. With their ability to minimize the need for on-site maintenance, the global demand for connected ships is on the rise.
Global Connected Ship Market Trends and Drivers:
Currently, the market is experiencing significant growth due to the increasing adoption of connected ship technologies, which aim to streamline operations and enhance overall efficiency. Furthermore, the market is benefitting from a rising demand for connected ships, as they offer real-time monitoring and communication capabilities to mitigate risks. Additionally, the market is being driven by the growing necessity for advanced cybersecurity measures to protect against cyber threats. Moreover, the maritime industry is witnessing an upsurge in the adoption of eco-friendly practices to reduce emissions, which is creating promising growth opportunities for industry investors. Simultaneously, there is a growing demand for connectivity among both crew members and passengers, which is having a positive impact on the market. Furthermore, the utilization of connected ship technologies for data collection and analysis to support decision-making is contributing to market growth. Lastly, the increasing need for real-time information and communication to navigate complex international routes is further strengthening the market’s growth prospects.
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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