The global marine telematics market size reached US$ 13.71 Million in 2022. Looking forward, the publisher expects the market to reach US$ 41.76 Million by 2028, exhibiting a growth rate (CAGR) of 20.60% during 2023-2028. The rising international sea trade activities worldwide, strict marine safety norms, and escalating demand for fleet safety and security in the transportation of goods through commercial vessels represent some of the key factors driving the market.
Marine telematics refers to advanced systems that record information about water vessels and process, store, and send the data through telecommunication devices to streamline operations. This technology comprises various software solutions and hardware devices installed into ships that aid in controlling and tracking marine vessels. It relies on wireless voice and data communication systems with core functions, such as vessel tracking, emergency aid warning notification, system monitoring, stolen vehicle recovery, and other features. It assists in obtaining real-time data, including GPS position, accelerometer, speed, and fuel consumption of vessels, that is later processed at the data center. It also accesses and communicates updated information such as water temperature, pollutants, tanker fuel levels, equipment functioning, and other ship-related data to the concerned authorities. This information can be easily accessed via a mobile application or internet tracking software to track vessels in real-time. As a result, marine telematics finds extensive applications across the boating, shipping, recreational fishing, and commercial fishing industries.
Marine telematics refers to advanced systems that record information about water vessels and process, store, and send the data through telecommunication devices to streamline operations. This technology comprises various software solutions and hardware devices installed into ships that aid in controlling and tracking marine vessels. It relies on wireless voice and data communication systems with core functions, such as vessel tracking, emergency aid warning notification, system monitoring, stolen vehicle recovery, and other features. It assists in obtaining real-time data, including GPS position, accelerometer, speed, and fuel consumption of vessels, that is later processed at the data center. It also accesses and communicates updated information such as water temperature, pollutants, tanker fuel levels, equipment functioning, and other ship-related data to the concerned authorities. This information can be easily accessed via a mobile application or internet tracking software to track vessels in real-time. As a result, marine telematics finds extensive applications across the boating, shipping, recreational fishing, and commercial fishing industries.
Marine Telematics Market Trends:
The rising number of container ship transportation and increasing international sea trade activities have augmented the demand for tracking features to ensure operational safety. This, coupled with the implementation of strict marine safety norms by governing authorities of various nations, represents the primary factor driving the market growth. Moreover, the surging need for vessel monitoring, fuel management, and vehicle diagnoses has accelerated the adoption of marine telematics. In addition, the rising trend of automation in the maritime transportation sector and the growing need for improved driver and vessel safety are creating a favorable outlook for the market. Besides this, the escalating demand for fleet safety and security in the transportation of goods through commercial vessels and the increasing number of accidents have strengthened the need for monitoring solutions that can send an SOS message along with the coordinates of vessel location. Furthermore, the leading players are introducing innovative marine telematics systems integrated with novel technologies, such as artificial intelligence (AI), the Internet of Things (IoT), advanced navigation systems, and GPS, to enhance ship operations. In line with this, the increasing applications of marine telematics for entertainment, automatic crash notification, and navigation purposes have propelled market growth. Other factors, including the emerging trend of connectivity solutions, rapid developments in the maritime industry, elevating levels of digitization in the transportation sector, improving internet connectivity, and technological advancements, are also providing a positive thrust to the market growth.Key Market Segmentation:
The publisher provides an analysis of the key trends in each segment of the global marine telematics market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on component and application.Component Insights:
- Hardware
- Software
- Service
- Safety and Security
- Information and Navigation
- Entertainment
- Diagnostics
Application Insights:
- Commercial
- Passenger Ships
- Defense
Regional Insights:
North America
- United States
- Canada
Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global marine telematics market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Applied Satellite Technology Ltd, Cybernetica AS, Ki2 Infotech, Metocean Telematics, Navis (Accel-KKR), Sentinel Marine, Technoton, Traxens, Verizon, Viatrax Automation Corporation, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.Key Questions Answered in This Report:
- How has the global marine telematics market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global marine telematics market?
- What is the impact of each driver, restraint, and opportunity on the global marine telematics market?
- What are the key regional markets?
- Which countries represent the most attractive marine telematics market?
- What is the breakup of the market based on the component?
- Which is the most attractive component in the marine telematics market?
- What is the breakup of the market based on the application?
- Which is the most attractive application in the marine telematics market?
- What is the competitive structure of the global marine telematics market?
- Who are the key players/companies in the global marine telematics market?
Table of Contents
1 Preface3 Executive Summary10 Value Chain Analysis12 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Marine Telematics Market
6 Market Breakup by Component
7 Market Breakup by Application
8 Market Breakup by Region
9 Drivers, Restraints, and Opportunities
11 Porters Five Forces Analysis
13 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Applied Satellite Technology Ltd
- Cybernetica AS
- Ki2 Infotech
- Metocean Telematics
- Navis (Accel-KKR)
- Sentinel Marine
- Technoton
- Traxens
- Verizon
- Viatrax Automation Corporation
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 150 |
| Published | June 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 13.71 Million |
| Forecasted Market Value ( USD | $ 41.76 Million |
| Compound Annual Growth Rate | 20.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
