Maritime Analytics Market Forecast Report – Size and Analysis 2028

Maritime Analytics Market Forecast to 2028 - Global Analysis By Application (Optimal Route Mapping, Predictive and Prescriptive Analytics, Pricing Insights, Vessel Safety and Security, and Others) and End User (Commercial and Military)

  • Report Code : TIPRE00003041
  • Category : Technology, Media and Telecommunications
  • Status : Published
  • No. of Pages : 176
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Maritime Analytics Market Forecast Report – Size and Analysis 2028

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[Research Report] The maritime analytics market is expected to grow from US$ 1,077.42 million in 2022 to US$ 2,185.88 million by 2028; it is estimated to register a CAGR of 13.3% from 2023 to 2028.

The demand for advanced solutions such as maritime data analytics among commercial shippers and other end users has been increasing rapidly. Big data is being utilized in the shipping industry to monitor sensors on ships and perform predictive analysis to avoid delays and boost productivity. The big data insights are being actively leveraged to predict and avoid price-related challenges occurring throughout a ship's life cycle, from design to operation to decommissioning. Hamburg Port (Germany), Port of Cartagena (Colombia), Port of Rotterdam (The Netherlands), and several ports in Southeast Asia are actively using big data analytics solutions for their port and terminal operations. Continuous use of maritime analytics will have a positive impact in the overall maritime analytics market size.

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Maritime Analytics Market: Strategic Insights

Maritime Analytics Market

  • CAGR (2022 - 2028)
    13.3%
  • Market Size 2022
    US$ 1.08 Billion
  • Market Size 2028
    US$ 2.19 Billion

Market Dynamics

GROWTH DRIVERS
  • Rising Trend of Digitalization in Globel Shipping Industry
  • Increasing Demand for Enhanced Maritime Operations Through Data Analytics
FUTURE TRENDS
  • Advanced Technologies to Transform Maritime Industry
OPPORTUNITIES
  • Developing Regions to Drive Future Growth

Key Players

  • Windward Ltd.
  • OrbitMI, Inc.
  • Q88 LLC
  • Signal Group
  • eeSea Aps
  • Rightship Pty Limited
  • Maritech Holdings Limited
  • ShipNet
  • Kpler

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Application
  • Optimal Route Mapping
  • Predictive and Prescriptive Analytics
  • Pricing Insights
  • Vessel Safety and Security
  • Others
End User
  • Commercial and Military
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Impact of COVID-19 Pandemic on Maritime Analytics Market

At global level, the maritime industry got impacted negatively. The revenue got reduced owing to temporary shutdown of sea business. At regional level, Europe’s Sea freight is an essential part of the regional economy. As per several statistics, trade activities in Asia and Europe marine routines were severely disrupted due to the COVID-19 outbreak, as 30% to 60% of outbound shipping capacity was withdrawn. Maritime shipping helps move ~75% of Europe's external trade and ~30% of the internal transport of goods in the region. Governments of various European countries announced that the COVID-19 outbreak negatively affected their transport systems as the European supply chains of various countries were closely interlinked. However, with maritime business got commenced with recovering from COIVD-19 business, the scope of maritime analytics is also improving. For instance, In August 2022, Inmarsat witnessed an upward trend in maritime data usage since the shipping industry was looking for better and increased connectivity. Imports, exports, and intra-EU maritime trade decreased in 2020. However, with the gradual start of trade business from mid-2021, the demand for using analytics increased to process more information with a minimal workforce. To ensure proper business of above-mentioned industries via sea, the European marine industry is enduring to use maritime analytics. This will help in boosting the maritime analytics market.

Market Insights – Maritime Analytics Market  

North America is dominated by the US, and its subsequent industrial as well as business activities contribute significantly to the overall economy of the region. Presently, the US boasts robust port infrastructure and maritime sector owing to its substantial reliance on imported goods across several industry verticals and notable outsourcing of manufacturing and production facilities over Asian economies. As a result, the country now relies on various maritime-related technical solutions and services for the smooth operation, maintenance, and expansion of its infrastructure and industry. The widespread availability of financial aid, combined with the early acceptance of technologically advanced solutions and software, supports the rapid adoption of maritime analytics-related software among end users in the US. As a result, the growing popularity of modern tools for predictive maintenance, route optimization, security, and risk management, among others, has gained significant traction in the maritime industry across the country, thereby offering numerous profitable opportunities for maritime analytics market players. In November 2021, following the completion of all closing conditions, Spire Global, Inc.—a leading provider of space-based data, analytics, and services—announced the successful acquisition of exactEarth Ltd., a leading provider of solutions that extract and provide maritime vessel data for ship tracking and situational awareness. Further, in October 2021, Spire Global, Inc. announced Maritime 2.0, with an update to its maritime solutions that provide marine data on vessel locations, weather conditions, and shipping activity, which assist businesses in better and real-time decision-making.

End User Based Insights - Maritime Analytics Market

Based on end user, the maritime analytics market is segmented into commercial and military. The commercial segment accounted for a larger maritime analytics market share in 2022. The growing global seaborne trade is propelling the demand for maritime analytics in the commercial sector. Maritime analytics manages a ship’s sensors, and predictive analytics helps avoid delays and surge the industry’s overall operational efficiency. In the marine industry, accurate cargo tracking is essential to maintain security and privacy. This marine analytics in the commercial sector can be used for future decision-making to predict future problems and create more reliable cargo delivery options.

The global maritime analytics market size is segmented based on application, end user, and geography. Based on application, the maritime analytics market is segmented into optimal route mapping, predictive and prescriptive analytics, pricing insights, vessel safety and security, and others. Based on end user, the maritime analytics market is categorized into commercial and military. The maritime analytics market, based on region, is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).

Maritech Holdings Limited; RightShip Pty Limited; ShipNet; Windward Ltd; Kpler; Kayrros; OrbitMI, Inc.; Q88 LLC; Signal Group; eeSea Aps; Shipfix Technologies SAS; Shipamax Ltd.; Veson Nautical; Siglar Carbon; ZeroNorth A/S; Pole Star Space Applications; Dataloy Systems AS; Ninety Percent of Everything Limited; SEDNA Communications Ltd; Nordic IT; LgMAR; and Trigonal Ltd. are among the key maritime analytics market players operating across the world.

Maritime Analytics Market Report Scope

Report Attribute Details
Market size in 2022 US$ 1.08 Billion
Market Size by 2028 US$ 2.19 Billion
Global CAGR (2022 - 2028) 13.3%
Historical Data 2020-2021
Forecast period 2023-2028
Segments Covered By Application
  • Optimal Route Mapping
  • Predictive and Prescriptive Analytics
  • Pricing Insights
  • Vessel Safety and Security
  • Others
By End User
  • Commercial and Military
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Windward Ltd.
  • OrbitMI, Inc.
  • Q88 LLC
  • Signal Group
  • eeSea Aps
  • Rightship Pty Limited
  • Maritech Holdings Limited
  • ShipNet
  • Kpler
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

    The maritime analytics market players are mainly focused on the development of advanced and efficient products.

    • In April 2023, Wavecrest Growth Partners and Abry Partners completed a growth investment. The capital is used to accelerate hiring, scale sales, and expand product development for related trade & commodity finance, maritime surveillance, and ESG sustainability solutions.
    • In October 2022, the partnership between OrbitMI and Nautilus highlighted the importance of collaboration in the industry. Leveraging Orbit’s solution in combination with high-frequency data, Nautilus can quickly integrate to generate value by monitoring the vessel’s performance and optimizing its voyages. The complimentary offering provides a full suite of solutions—from noon and claims reporting to machine learning—based Boil-off Gas Optimisation.
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Application, and End User

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

    Frequently Asked Questions


    What are the future trends of the global maritime analytics market?

    The maritime industry is investing proactively in advanced technology solutions like Artificial intelligence (AI), big data, blockchain, cloud computing, cyber security, digital twin, internet of things (IoT), machine learning, and robotic technologies.

    What are the driving factors impacting the global maritime analytics market?

    Key factors attributing towards the growth of maritime analytics market is 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.

    What is the estimated global market size for the global maritime analytics market in 2022?

    The global maritime analytics market was estimated to be USD 1,077.42 million in 2022 and is expected to grow at a CAGR of 13.3% during the forecast period 2023 - 2028.

    Which countries are registering a high growth rate during the forecast period?

    India, Canada, South Africa, and Argentina are anticipated to grow with the highest CAGR.

    Which are the key players holding the major market share of the global maritime analytics market?

    The key players holding majority shares in the maritime analytics market include Veson Nautical, ShipNet, Kpler, Kayrros, Rightship Pty Limited.

    Which is the fastest-growing regional market?

    APAC is anticipated to grow with the highest CAGR over the forecast period in the maritime analytics market.

    The List of Companies - Maritime Analytics Market

    1. Windward Ltd. 
    2. OrbitMI, Inc.
    3. Q88 LLC
    4. Signal Group
    5. eeSea Aps
    6. Rightship Pty Limited
    7. Maritech Holdings Limited
    8. ShipNet
    9. Kpler
    10. Kayrros

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