Global Connected Ship Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2033
Global Connected Ship Market was valued at over USD 8551.97 Mn in 2023 and the market will grow to USD 18867.39 mn and is projected to register а САGR approximately to 10.00% by 2033.
“Global Connected Ship Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2033” is a recent report generated by MarketResearch.biz. The global artificial intelligence chip market report has been segmented on the basis of ship type, fit, installation type, application, and region.
Global Connected Ship Market: Overview
The connected ship is a technology in which vessels are tacked and managed by satellite Antenna, that offers streamline reporting including data regarding fuel management and operational efficiency. It also provides connectivity to the crew and passengers to stay in contact with their family and friends. Additionally, it provides access to the web and social media to passengers. Sensors used in this technology are used to alert the management team on offshore and onshore regarding potential problems. Connected ships also include data integration that will help to reduce life loss. Currently, in the commercial ship with the aforementioned technology, two types of systems are being used, one for the administration and other for the passengers.
Global Connected Ship Market: Dynamics
Growing requirement of a web connection for maintenance and threat detection in order to improve the functioning and efficiency of ships is a key factor resulting in increasing demand for connected ships. Increasing the use of information and communications technology in the marine industry is a major factor driving growth of the global connected ship market. In addition, growing digitalization of vessels is another factor fueling growth of the target market. Furthermore, growing maritime tourism and sea trade are factors expected to boost growth of the global connected ship market in the near future.
However, the high cost of broadband on ships is a factor that may hamper growth of the global connected ship market. In addition, the occurrence of cyber-attacks or cyber-threats is a challenging factor could also affect growth of the global market. Nevertheless, the introduction of cost-effective marine broadband and growing adoption of vessel traffic services on ships can create high revenue opportunities for players in the connected ship market.
Global Connected Ship Market: Segment Analysis
Among the ship type segments, the defense segment is expected to register high growth in terms of revenue in the near future. Increasing use of connected ships in naval forces of various countries as this technology improves efficiency of ships, offers alert management, and reduces life loss are some of the major factors supporting growth of this segment in the global market.
Global Connected Ship Market: Regional Analysis
The market in Europe is expected to account for a major share in terms of revenue over the forecast period. Presence of prominent shipbuilding companies and growing adoption of advanced technology in the marine industry are factors propelling growth of the target market in this region. Market in Asia Pacific is anticipated to account for second-highest share in terms of revenue in the near future, followed by North America, Latin America, and Middle East and Africa. Development of port cities in emerging economies and increasing number of cargos and cruise ships are factors fueling growth of the connected ship market in Asia Pacific region.
Global Connected Ship Market Segmentation:
Segmentation by ship type:
Segmentation by fit:
Segmentation by installation type:
- Retro Shift
- Line Shift
Segmentation by application:
- Fleet Health Monitoring
- Fleet Operations
- Vessel Traffic Management
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size USD 8551.97 Mn Growth Rate 10.00% Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Northrop Grumman Corporation
- General Electric Company
- Wärtsilä Oyj
- Kongsberg Gruppen ASA
- Marlink AS
- ABB Ltd
- Emerson Electric Co.
- Hyundai Heavy Industries Co., Ltd.
- RH Marine Group
- Rockwell Automation, Inc.
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