Maritime analytics collects, analyzes, and interprets critical information about diverse shipping activities. The growing usage of algorithms and predictive analytics in the shipping industry, coupled with the rising trend of automation and digitalization, is driving the growth of maritime analytics solutions worldwide. Maritime analytics in the shipping and maritime industry offer stakeholders key benefits such as enhanced productivity, superior performance, better safety, cost savings, and valuable insights related to various parameters. The global shipping industry is evolving steadily owing to increasing trade across countries, changing technology landscape, and uncertainty in global economies and geopolitical conditions.
Veson Nautical, ShipNet, Kpler, Kayrros, and RightShip Pty Limited – Prominent Market Participants in Maritime Analytics Market
The integration of digital technologies in maritime processes, operations, and business models to enhance productivity, increase security, and reduce operational costs has been growing at an unprecedented rate. Due to escalating customer demands and industry competitiveness, digital transformation has become fundamental for any company’s long-term success and competitive advantage. Companies worldwide are adopting digitization to improve their business processes to increase operational throughput and profits. The marine industry is no exception to this tendency, and it is currently undergoing a paradigm transition because of shifting business models, technological adoption, cost structures, and increased competition. The key areas for digital transformation in the maritime industry include developing new business models, digitalizing core operations, and using analytics for better decision-making.
The maritime industry is investing proactively in advanced technology solutions to bring digital transformation and to become more efficient and sustainable. Artificial intelligence (AI), big data, blockchain, cloud computing, cyber security, digital twin, internet of things (IoT), machine learning, and robotic technologies are some of the key technologies contributing to the advancement of the global maritime industry. Furthermore, an increase in collaborations between maritime industry stakeholders and technology solution providers, a rise in the number of maritime analytics solution providers, investments by maritime companies in big data infrastructure development, and growth of funding opportunities in Europe and APAC are some of the other factors projected to penetrate the growth of maritime analytics market in the future.
The top five companies in the market are Veson Nautical; ShipNet; Kpler; Kayrros and RightShip Pty Limited. The above listing of key players is derived by considering multiple factors such as overall revenue, current well-completion equipment and services portfolio, new product launches, market initiatives, investment in technology up-gradation, mergers & acquisitions, and other joint activities. A few of the important market initiatives and product developments from the industry are mentioned below:
| Year | News | Region |
| 2023 | The PurpleTRAC regulatory technology extended Sanctions Screening & Vessel Tracking Capabilities. The technology allowed users of PurpleTRAC to monitor a vessel seamlessly in real time. The hybrid track combines a vessel’s satellite and terrestrial AIS. | Europe |
| 2023 | Signal groups brand-new Voyages dashboard combines voyages, port calls and ship-to-ship information in a comprehensive view, allowing users to aggregate data on a port or country basis. This latest release provides users with access to global voyages data, including current and predicted voyages for all dry bulkers or tankers. | North America |
