Maritime Information Market Size, Share | Statistics Report 2028

Maritime Information Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Platform (On-Shore and Vessel), Application (Fleet Management, Vessel Tracking, and Maritime Security), and End-User (Commercial and Government)

Publication Month : Oct 2022

  • Report Code : TIPRE00009902
  • Category : Technology, Media and Telecommunications
  • Status : Published
  • No. of Pages : 180
Inquire Before Buy

PRICING

$4550

$3640

The maritime information market was valued at US$ 1,882.01 million in 2021 and it is expected to grow at a CAGR of 6.2% from 2022 to 2028.

Digital transformation in the maritime industry has enabled users to collect vital information on the ownership, movement, specifications, and commercial activities of naval vessels. Maritime information solutions help ships adapt to rough sea conditions by monitoring multiple parameters, thus enabling users to make better strategic and operational decisions. In addition, these solutions offer benefits such as enhanced productivity and overall safety while ensuring the efficiency of maritime operations. Such factors are bolstering the Maritime Information Market size.

Maritime information solutions play an important role in ensuring the security of the economy; hence, these solutions are widely used by government agencies across the world. These solutions help various countries reduce maritime threats such as human trafficking, terrorist attacks, environmental destruction, and illegal immigration by sea. Furthermore, there has been a significant increase in the number of ships crossing the oceans due to the liberalization of world trade, which is boosting the demand for these solutions. In addition, the International Maritime Organization (IMO) has mandated all ships to have an Automatic Identification System (AIS) to monitor ship traffic and avoid collisions with other ships. Moreover, manufacturers in the maritime industry are funding research and development activities to achieve the ability to accurately detect signals from naval vessels. Such factors are bolstering the Maritime Information Market size.

With the rising maritime traffic, it has become essential to improve the safety and security of ships and preserve their environment. For instance, according to India's Ports Department, in 2020, cargo traffic at the main ports of India was 414.20 million tonnes, which increased by 12.9% in 2021 compared to the first quarter of 2020. Furthermore, the exchange of information encourages various parts of the maritime industry supply chain to work together for smooth operation. Integrated systems with vessel traffic monitoring capabilities and effective tracking systems, such as AIS and Synthetic Aperture Radar (SAR), have become vital for ships, which is contributing to the maritime information market growth.

Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

Maritime Information Market: Strategic Insights

maritime-information-market
Market Size Value inUS$ 1,882.01 Million in 2021
Market Size Value byUS$ 2,808.87 Million by 2028
Growth rateCAGR of 6.2% from 2022 to 2028
Forecast Period2022-2028
Base Year2021
Analyst Image

Naveen

Have a question?

Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

Analyst Image  Speak to Analyst

A few of the major companies operating in the maritime information market are Inmarsat, L3 Harris Technologies, ORBCOMM, Raytheon Company, Thales Group, exactEarth, and Iridium Communications. For instance, in April 2022, Spire Global introduced weather information solutions for the maritime industry. The company collects global weather data through a fully deployed constellation of more than 100 satellites that reach remote areas, including open oceans, that have been challenging to observe. Spiers delivers weather insights and saves customers time and costs by combining weather data with marine expertise through machine learning and artificial intelligence.

In September 2022, BAE Systems announced its plan to launch the first multi-sensor satellite cluster into low Earth orbit by 2024 to deliver high-quality maritime information and intelligence in real-time from space to military customers.

Impact of COVID-19 Pandemic on Maritime Information Market Growth

The COVID-19 pandemic caused long-term effects on marine trade and transportation. Ports, shipping operations, and supply chains were adversely affected by the pandemic-related restrictions. Raw material shortage, lead-time issues, blank sailings, port closures, shortened port hours, equipment and labor shortages, and transportation capacity restrictions were a few of the difficulties marine vessel operators faced during the crisis. These impediments seriously damage transportation services and jeopardize the smooth operation of supply chains and trade flows. The maritime industry in several nations and areas released several port marine circulars connected to the COVID-19 crisis.

Governments of various countries imposed travel restrictions and closed borders to control the spread of SARS-CoV-2. As a result, ports and airports were shut down. Approximately 90% of world trade is transported by sea. Additionally, the social and physical distancing measures imposed by governments of various countries have led port authorities to limit their vessel operations, which reduced the demand for maritime information and analytics solutions. However, with the upliftment of lockdown and successful vaccination processes in 2021, several companies have resumed their operations, and ease of travel restriction helped the maritime industry regain its momentum. Thus, in 2021, the demand for maritime information solutions increased across the world.

Lucrative Regions: Maritime Information Market Share

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

Market Insight – Maritime Information Market

Need for Efficient Management of Complex Supply Chain Operations

       

The marine industry is embracing digitalization to improve efficiency, build smarter ships and fleets, and attain readiness for global trade expansion. Global supply networks are expanding and growing more complex with a rise in consumer demand. Marine businesses need to continuously work and implement new strategies to maximize efficiencies and streamline supply chains in the highly competitive global marketplace. The integration of innovative technologies such as AI, blockchain, IoT, and automation into maritime operations enables the easy arrangement of inventory data, tracking and management of ships, tracking of information, and generation of electronic invoices. Using these technologies, shipping businesses can reduce the amount of time spent on shipping, receiving, tracking, and gathering order data. These technologies aid in developing fresh commercial prospects, and transforming supply networks. End users can successfully manage supply chain activities by leveraging design and simulation tools, warehouse management, transportation and yard management, and end-to-end logistics network control aided by maritime information. Additionally, stricter environmental regulations continue to influence the maritime transportation industry since transporters must save costs and ensure sustainability in operations. Thus, the increasing need to efficiently manage complex supply chain operations drives the maritime information market share.

Platform-based Insights

The maritime information market is segmented on the basis of platform, application, and end-user. Based on platform, the maritime information market is segmented into on-shore and vessel. The vessel segment held a larger market share in 2021. Companies operating in the maritime information market offer a range of marine solutions and services for a fleet of offshore vessels capable of servicing an extensive range of complex marine projects. Modern fleet incorporates new technologies, efficient propulsion systems, and proven reliability to serve a wide range of services such as subsea construction and towing operations. A growing number of fleet vessels is increasing the demand for advanced maritime information software and services for vessel operations and management is propelling the market growth.

Players operating in the maritime information market are mainly focused on the development of advanced and efficient products.

  • In October 2021, Spire Global, Inc., a global provider of space-based data and analytics, announced the availability of Maritime 2.0, an update to Spire's maritime solutions that provide marine data on vessel locations, weather conditions, and global shipping activity organizations that can optimize real-time decision-making.
  • In September 2022, Iridium Communications Inc. disclosed that Jan De Nul Group, a leading maritime construction and civil engineering company, has selected Iridium's Global Maritime Distress and Safety System solution. With the adoption of Iridium GMDSS, Jan De Nul is persisting in its affirmation to provide the safest operating environment possible for its personnel.

The maritime information market is segmented on the basis of platform, application, and end-user. Based on platform, the market is bifurcated into on-shore and vessel. Based on application, the market is segmented into fleet management, vessel tracking, and maritime security. Based on end-user, the market is bifurcated into commercial and government.

The maritime information market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2021, Europe led the market with a substantial revenue share, followed by North America and Asia Pacific. The maritime information market analysis helps to understand the upcoming trends, new technologies, and macro and micro factors that is expected to influence the market growth in coming years.

Company Profile:

  • BAE Systems Plc
  • Spire Global
  • Iridium Communications Inc
  • L3Harris Technologies Inc
  • Lockheed Martin Corp
  • ORBCOMM Inc
  • Saab AB
  • Thales Group
  • Windward Ltd
  • Northrop Grumman Corp
  • Polestar
  • Oneocean
  • Fujitsu Limited
  • Siemens AG
Report Coverage
Report Coverage

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

Segment Covered
Segment Covered

Platform, 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, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What is the estimated global market size for the Maritime Information market in 2021?

The global Maritime Information market was estimated to be US$ 1,882.01 million in 2021 and is expected to grow at a CAGR of 6.2%, during the forecast period 2022 - 2028.

What are the driving factors impacting the Maritime Information market?

Need for Efficient Management of Complex Supply Chain Operations driving the need for Maritime information market. The marine industry is embracing digitalization in a bid to improve efficiency, build smarter ships and fleets, and attain readiness toward global trade expansion. Global supply networks are expanding and growing more complex with a rise in consumer demand. Marine businesses need to continuously work out and implement new strategies to maximize efficiencies and streamline supply chains in the fiercely competitive global marketplace.

What are the future trends for Maritime information market?

Emergence of Big Data Analytics and IoT, Information collected from large operation systems, such as ships and ports, is verified using data analytics which includes information about container weight, type, and destination. Additionally, it can analyze the ship’s trim, stability, engine performance, and communication data, among others. Big data analytics on ships can provide insights into historical container patterns and maritime conditions.

Which are the key players holding the major market share of Maritime information market?

The key players, holding majority shares, in Maritime Information market includes Thales; Lockheed Martin; Northrop Grumman; L3Harris; and Bae Systems.

Which is the fastest growing regional market?

North America is the fastest growing regional market, followed by Europe.

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

US and Germany are expected to register high growth rates during the forecast period.

Which country is holding the major market share of Maritime Information market?

The US held the largest market share in 2022, followed by Germany.

What is the incremental growth of the Maritime information market during the forecast period?

The incremental growth, expected to be recorded for the Maritime information market during the forecast period, is US$ 851.58 million.

The List of Companies - Maritime Information Market

  1. BAE Systems Plc
  2. Spire Global
  3. Iridium Communications Inc.
  4. L3Harris Technologies Inc
  5. Lockheed Martin Corp
  6. ORBCOMM Inc
  7. Saab AB
  8. Thales Group
  9. Windward Ltd
  10. Northrop Grumman Corp
  11. Polestar
  12. ONEOCEAN
  13. Fujitsu Limited
  14. Siemens AG

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Trends and growth analysis reports related to Maritime Information Market