Maritime Information Market Size, Share, Industry Trends and Forecast to 2030

1. What is the Market Size & CAGR of Maritime Information market in 2021?

The global maritime information market is expected to witness a steady growth rate with a Compound Annual Growth Rate (CAGR) of 4.5% from 2021 to 2027. The market size for maritime information is projected to reach USD 20.3 billion by 2027.

2. COVID-19 Impact on the Maritime Information Market

The COVID-19 pandemic has significantly impacted the maritime information market. The restrictions on travel, closure of ports, and disruptions in supply chains have led to a decrease in shipping activities. However, the demand for real-time data and analytics in the maritime sector has surged during the pandemic, leading to an increased adoption of maritime information solutions.

3. Maritime Information Dynamics

The dynamics of the maritime information market are influenced by factors such as technological advancements, regulatory changes, and the increasing focus on sustainability and efficiency in the shipping industry. The adoption of advanced technologies like Artificial Intelligence (AI), Internet of Things (IoT), and blockchain is reshaping the maritime information landscape.

4. Segments and Related Analysis

The maritime information market can be segmented based on the type of solution, deployment mode, application, and end-user. Solutions include vessel tracking, maritime analytics, weather monitoring, and others. Deployment modes can be cloud-based or on-premises. The applications of maritime information solutions range from fleet management to maritime security.

5. By Region Analysis

Regionally, North America holds a significant share in the maritime information market due to the presence of key players and technological advancements in the region. Europe is also a prominent market for maritime information, driven by stringent regulations and growing focus on environmental sustainability. The Asia Pacific region is witnessing rapid growth in the maritime information market with the increasing adoption of digital solutions in the maritime sector.

6. Key Market Players and Competitive Landscape

Key players in the maritime information market include Inmarsat, IHS Markit, Wartsila Corporation, ORBCOMM, and exactEarth. These companies are actively involved in strategic partnerships, product launches, and acquisitions to strengthen their market position. The competitive landscape of the maritime information market is characterized by intense competition and the constant quest for innovation and technological advancements.

7. Recent Happenings in the Maritime Information Market

In recent developments, Inmarsat launched a new maritime data solution that provides advanced connectivity and insights for the shipping industry. Wartsila Corporation announced a strategic collaboration with a leading maritime technology provider to enhance their maritime information offerings. These developments indicate the dynamic nature of the maritime information market and the continuous efforts of industry players to stay ahead in the competitive landscape.