Global Marine Telematics Market Report and Forecast 2024-2032

Global Marine Telematics Market Outlook

The global marine telematics market size is estimated to grow at a CAGR of 14.1% during 2024-2032. The market is being aided by the robust growth of the maritime sector and increasing focus on ensuring the safety and security of vessels.

Key Trends in the Market

Maritime telematics solutions play a crucial role in the shipping industry as they record information about a vessel and further send, process, and store the data through telecommunication. The technology is also used to monitor and control ships.

Marine telematics solutions are used in several applications, including shipping, boating, recreational fishing, and commercial fishing, among others. They share crucial information such as the level of fuel in tankers, water temperature, equipment functioning, pollutants, and other ship-related information in real-time to the concerned authorities.

• The global marine telematics market growth is primarily driven by the robust growth of the maritime sector and the need for better operational efficiency. This is boosting the adoption of marine telematics to provide real-time data and ensure compliance with guidelines and regulations determined by international organisations.

• An increase in globalisation and rising maritime trade are also positively impacting the marine telematics market demand. The use of maritime telematics helps ensure the safe movement of these ships loaded with commodities as it protects them from theft and piracy.

• Marine telematics is used to detect and respond to emergencies, which helps to ensure the safety and security of the vessel and its crew. It also monitors the onboard systems and equipment and reports any ill contingency that might occur in the future.

In the forecast period, the deployment of this technology is expected to surge due to the increasing demand for real-time visibility of vessels among stakeholders and the growing focus on optimising route planning to reduce operational costs of ships.

Marine Telematics Market Segmentation

On the basis of component, the market is bifurcated into hardware and software. Based on application, the market is divided into passenger, commercial, and defence.

On the basis of service, the market is categorised into diagnostics, safety and security, information and navigation, and entertainment. The major regional markets for marine telematics include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global marine telematics market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• MetOcean Telematics

• Omnitracs, LLC

• Riverside Mfg., LLC

• Ki2 Infotech 

• Edge Telematics 

• Boat Command 

• Technoton 

• Sentinel d.o.o.

• Others

Market Share by Service

As per the marine telematics market analysis, the demand for marine telematics in safety and security services is significantly increasing. By monitoring activities in a ship, the technology also plays an essential role in preventing criminal activities, guarding assets, protecting citizens, and ensuring safe delivery of goods.

Besides, the integration of marine telematics with advanced technologies like the Internet of things (IoT) and artificial intelligence (AI) is anticipated to enhance its deployment in services like navigation due to their accuracy and precision in the coming years.

Market Share by Region

North America accounts for a considerable portion of the marine telematics market share as the US government is incorporating new techniques to optimise the supply chain and strengthen the maritime sector. Key players in the region are also partnering with different companies to adopt maritime telematics and leverage its benefits like real-time tracking.

For instance, in December 2022, Canadian boat manufacturer, Legend, entered a strategic partnership with Boat Fix, an American telematics provider, to offer customers services like monitoring and tracking, live alarm, theft applications, and mechanical helpline support assistance.

Meanwhile, the Asia Pacific is anticipated to witness a healthy growth in the coming years due to rising incidences of cargo thefts, surging the requirement for marine telematics features like active monitoring and GPS tracking.

Competitive Landscape

Edge Telematics deals in telematics related to the marine and aviation industries. It provides critical real-time vessel monitoring, ocean buoy tracking, and AIS data service for merchant fleets and commercial fishing boats travelling international waters. The company also offers a wide range of products, including EDGE 360 camera and sensor, Edge dashcam, Edge Alcolock, and others.

MetOcean Telematics is a global telemetry leader offering innovative voice, data, and web-based solutions. It provides complete end-to-end telematics services, with a focus on custom defence and security products. The company deals in different divisions, including satellite communications, the internet of things, environment, defence, and security.

Technoton was established in 2000 as a developer of automotive telematics and GPS tracking systems. It manufactures and develops GPS tracking devices, fuel level sensors, and fuel flow meters. Its products include DOT-E which is a fuel level sensor, and DFM which is a fuel and liquid flowmeter.

Other key marine telematics market players include Omnitracs LLC, Riverside Mfg, LLC., Ki2 Infotech, Boat Command, and Sentinel d.o.o., among others.

Key Highlights of the Report