Global Maritime Information Market Report and Forecast 2024-2032

Global Maritime Information Market Outlook

The global maritime information market reached a value of about USD 1746.06 million in 2023. The market is further expected to grow at a CAGR of about 8.5% in the forecast period of 2024-2032 to reach a value of about USD 3638.17 million by 2032.  

Europe is the leading maritime information market with the highest market share. This rise is motivated by the important role of the marine sector in providing the European economy with jobs and incomes. The Asia Pacific is also witnessing a rapid growth in the market. The Asia Pacific waters have increased foreign trade, and therefore, more ships are moving via the region. Port infrastructure in Asia is mostly new, and many new ports in countries, including China, Korea, Japan, and Malaysia, are increasing. In order to tackle potential challenges, it needs an updated maritime information system.

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Market Segmentation

Maritime navigation has been used for commerce, travel as well as protection purposes for generations. The emergence of the digital revolution in maritime navigation has helped users collect valuable information on port `+and waterway activities. Maritime information systems help vessels respond to the unpredictable sea environment by tracking multiple criteria to make better tactical and strategic decisions for users and organizations. As a consequence, these technologies are used to collect data on ownership, movements, requirements, and trading activities.

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It finds wide applications in the following:

• Maritime Information Analytics
• Maritime Information Provision
• Vessel Tracking
• AIS (Automatic Identification System)

The end-use segments in the industry can be categorised as follows:

• Government
  • Defence
  • Intelligence and Security
  • Search and Rescue
  • Government Agency
  • Others
• Commercial
  • Port Management
  • Business Intelligence
  • Commercial Fishing
  • Commercial Shipping
  • Hydrographic and Charting
  • Commercial Offshore
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Market Analysis

Since maritime information solutions play an important role in guaranteeing the protection of the economy, the governing authorities worldwide are commonly used. Such approaches help nations reduce maritime threats like trafficking in human beings, terrorist assaults, degradation of the environment, and illegal immigration by sea. Furthermore, due to the liberalisation of world trade, the number of ships that cross the oceans have risen significantly, which in turn increases the need for these solutions. Recent strict regulations have been enforced by the International Maritime Organization (IMO), making it mandatory for all ships to operate with the Automatic Identification System (AIS) to track maritime traffic and avoid collisions with other ships. Therefore, manufacturers are funding accurate signal detection from naval vessels in research and development activities. These factors are driving the growth of the global maritime information market further.

Competitive Landscape 

The report gives a detailed analysis of the following key players in the global maritime information market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Inmarsat Global Limited  
• L3Harris Technologies, Inc.
• ORBCOMM        
• Raytheon Technologies 
• exactEarth Ltd.
• Others

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.

Key Highlights of the Report