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 will increase vessel traffic and fuel the demand for accurate and reliable maritime information solutions. Moreover, the ongoing Fourth Industrial Revolution is introducing advanced technologies to the maritime industry, creating new business opportunities and driving an increase in seaborne trade activities. Overall, these factors are expected to shape the global shipping network and propel the growth of the maritime information market 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 elements including Maritime Domain Awareness, Maritime Situational Awareness, Maritime Intelligence, and Information Services. It also covers Maritime Data Analytics, Forecasting, Risk Management, Operations Management, Logistics Optimization, Cybersecurity Solutions, Communication Systems, and Navigation Systems. Additionally, it involves 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 projected to grow significantly. This expansion is attributed to the increasing demand for advanced technologies in areas such as maritime data centers, which are driving investments in new infrastructure and capacity expansions. Technavio's market analysis covers revenue generated from sales of maritime communication equipment, broadcasting equipment, telecommunication equipment, and infrastructure improvements by service providers. This market size excludes revenue from cellular phone manufacturers. Key growth factors for the maritime communications equipment market include the expanding maritime logistics industry and the need for real-time data and communication solutions for efficient vessel operations.. 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/