Latest News- Maritime Information Market: Commercial is expected to lead the End-user segment during 2025-2029

The Maritime Information Market is being driven by Cybersecurity and digital transformation in maritime

The Maritime Information Market is expected to grow at a CAGR of 10% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 1196.3 million. The global maritime information market is poised for significant growth due to several key factors. Notably, many countries are expanding their seaborne trade routes through initiatives such as the Panama and Suez Canal expansions and the One Belt-One Road project. These developments are expected to increase vessel traffic and fuel demand for maritime information solutions. Furthermore, the Fourth Industrial Revolution is presenting new opportunities for countries and maritime transport, leading to a surge in seaborne trade activities. Consequently, the maritime information market is anticipated to experience robust expansion during the forecast period. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Commercial
  • Government
• Application
  • MIA
  • MIP
  • VT
  • AIS
• Deployment
  • Cloud
  • On-Premises
• Geography
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Norway
  • North America
    • Canada
    • US
  • APAC
    • China
    • Japan
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Cybersecurity and digital transformation in maritime
• Rising demand for operational efficiency enhancement by machine learning and data science
• Integration of AISs into maritime information solutions

However, the market also witnesses some limitations, which are as follows:

• High cost of implementation
• Reluctance to adopt new systems
• Stringent rule and regulation

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Market Scope in Maritime Information Market Research Report

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Research Analysis Overview

The Maritime Information Market encompasses various solutions and services aimed at enhancing Maritime Domain Awareness and Situational Awareness. This includes Maritime Intelligence, Information Services, Data Analytics, and Forecasting. Additionally, it covers Risk Management, Operations Management, Logistics Optimization, Cybersecurity Solutions, Communication Systems, Navigation Systems, Sensor Networks, Automation, Autonomous Shipping, Decarbonization, Environmental Protection, Sustainability, Innovation, Technology, Governance, Law Enforcement, Security Operations, Safety Procedures, Incident Response, and Accident Investigation.

Market Research Overview

The maritime information market encompasses the production of maritime data, vessel tracking systems, navigation software, weather forecasting solutions, and oceanographic data services. According to Technavio, the parent communications equipment market, which includes manufacturers of maritime communication equipment, is expected to grow significantly due to the increasing demand for advanced data centers. This expansion is driven by hyperscalers' investments in new data center development and existing facilities' capacity enhancements. Furthermore, the maritime communications equipment market size is calculated based on revenue from equipment sales, as well as telecommunication providers' infrastructure investments. Notably, this market size does not include cellular phone manufacturers, classified under Technology Hardwar, Storage and peripherals sub-industry. Key growth factors for the maritime communications equipment market include the growing number of data centers, the need for real-time data transmission, and the increasing adoption of IoT and automation technologies in the maritime industry.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/