The North America maritime information market is expected to grow from US$ 640.54 million in 2022 to US$ 881.98 million by 2028. It is estimated to grow at a CAGR of 5.5% from 2022 to 2028.
Surge in Sea Trade and Increasing Maritime Budgets is Driving the North America Maritime Information Market
Terrorist invasions, ecological disturbances, and unauthorized immigration via sea have emerged as major maritime concerns with increased trade. The number of ships traveling the oceans has increased due to the liberalization of trade. Maritime information is essential for such economic growth. Several Governments are expanding their maritime budgets due to ongoing business growth. For instance, in August 2021, the Federal Emergency Management Agency of the US Department of Homeland Security allocated over US$ 30 million from the total grant of US$ 100 million for port authorities. The money was distributed among 44 port administrations, several terminal operators, municipalities, and law enforcement agencies to improve the security of the vital port infrastructure. Thus, the surge in sea trade has increased the maritime budget which drives the North America maritime information market growth.Market Overview
The US, Canada, and Mexico are the key contributors to the North America maritime information market. In North America, the US is one of the major economies for maritime information market vendors. The maritime economy accounted for 1.7% or US$ 361.4 billion of current-dollar US gross domestic product (GDP) in 2020 and 1.7% or US$ 610.3 billion of current-dollar gross output. The US merchant navy, shipbuilding and repair facilities, port system, and supporting industries (collectively, the US maritime industry) integrate the economy into one vast global system, transferring more than 90% of the world's trade tonnage, including energy, consumer goods, agricultural products, and raw materials. As a result, the maritime information systems are highly serviceable across the region, anticipating lucrative opportunities for the North America maritime information market vendors over the forecast period. Furthermore, according to the TSB report, in 2020, 18 deaths at sea were reported, up from 17 deaths reported in 2019 and above the annual average of 15.4 from 2010 to 2019. Of the 18 deaths in 2020, 12 resulted from four marine accidents, while the remaining six resulted from five accidents on board. In context, 12 marine accident deaths in 2020 involved commercial fishing vessels, and four out of six shipboard accident deaths occurred on commercial fishing vessels. Since maritime information solutions play an important role in ensuring the security of the marine industry, they are widely used by government agencies across the region. These solutions help countries reduce maritime threats such as human trafficking, terrorist attacks, environmental destruction, and illegal immigration by sea. Therefore, with the rising marine incidents, coupled with growing awareness of the benefits of maritime information solutions, the region's maritime information market is anticipated to boom over the forecast period. Furthermore, the growing collaboration between marine industry players and software vendors is propelling the market growth. For instance, in February 2021, Spire Global partnered with Zero North, ship optimization software vendor. Spire Global captures precise temperature, humidity, and pressure information for the entire planet, including the vast oceans, and integrates it with optimization software to derive optimization results. The weather forecasting data benefit the global shipping industry and global forecasting models, leading to market growth.North America Maritime Information Market Segmentation
The North America maritime information market is segmented into platform, application, end-user, and country.- Based on platform, the North America maritime information market is bifurcated into on-shore and vessel. The vessel segment registered the larger market share in 2022.
- Based on application, the North America maritime information market is segmented into fleet management, vessel tracking, and maritime security. The fleet management segment held the largest market share in 2022.
- Based on end user, the North America maritime information market is bifurcated into commercial and government. The commercial segment held the larger market share in 2022.
- Based on country, the North America maritime information market is segmented into the US, Canada, and Mexico. The US dominated the market share in 2022.
Table of Contents
1. Introduction1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Maritime Information Market Landscape
4.1 Market Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America Maritime Information Market - Key Industry Dynamics
5.1 Market Drivers
5.1.1 Need for Efficient Management of Complex Supply Chain Operations
5.1.2 Surge in Sea Trade and Increasing Maritime Budgets
5.1.3 Growing Adoption of Automatic Identification Systems
5.2 Market Restraints
5.2.1 Interoperability Issues and Cyber Threats
5.3 Market Opportunities
5.3.1 Development of Integrated Solutions to Lower Maritime Terrorism and Piracy
5.3.2 Rising Digitalization in Shipping Industry
5.4 Future Trends
5.4.1 Emergence of Big Data Analytics and IoT
5.4.2 Adoption of Cloud-Based Marine Information Solutions
5.5 Impact Analysis of Drivers and Restraints
6. Maritime Information Market - North America Market Analysis
6.1 North America Maritime Information Market Overview
6.2 North America Maritime Information Market Forecast and Analysis
7. North America Maritime Information Market Analysis - By Platform
7.1 Overview
7.2 North America Maritime Information Market, By Platform (2021 And 2028)
7.3 On-Shore
7.3.1 Overview
7.3.2 On-Shore: North America Maritime Information Market Revenue and Forecast To 2028 (US$ Million)
7.4 Vessel
7.4.1 Overview
7.4.2 Vessel: North America Maritime Information Market Revenue and Forecast To 2028 (US$ Million)
8. North America Maritime Information Market Revenue and Forecast to 2028 - By Application
8.1 Overview
8.2 North America Maritime Information Market, By Application (2021 And 2028)
8.3 Fleet Management
8.3.1 Overview
8.3.2 Fleet Management: North America Maritime Information Market Revenue and Forecast To 2028 (US$ Million)
8.4 Vessel Tracking
8.4.1 Overview
8.4.2 Vessel Tracking: North America Maritime Information Market Revenue and Forecast To 2028 (US$ Million)
8.5 Maritime Security
8.5.1 Overview
8.5.2 Maritime Security: North America Maritime Information Market Revenue and Forecast To 2028 (US$ Million)
9. North America Maritime Information Market Revenue and Forecast to 2028 - End-User
9.1 Overview
9.2 North America Maritime Information Market, By End-User (2021 And 2028)
9.3 Commercial
9.3.1 Overview
9.3.2 Commercial: North America Maritime Information Market Revenue and Forecast To 2028 (US$ Million)
9.4 Government
9.4.1 Overview
9.4.2 Government: North America Maritime Information Market Revenue and Forecast To 2028 (US$ Million)
10. North America Maritime Information Market - Country Analysis
10.1 Overview
10.1.1 North America: Maritime Information Market, By Key Country
10.1.1.1 US: Maritime Information Market - Revenue and Forecast to 2028 (US$ Million)
10.1.1.1.1 US: Maritime Information Market, By Platform
10.1.1.1.2 US: Maritime Information Market, By Application
10.1.1.1.3 US: Maritime Information Market, By End-User
10.1.1.2 Canada: Maritime Information Market - Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 Canada: Maritime Information Market, By Platform
10.1.1.2.2 Canada: Maritime Information Market, By Application
10.1.1.2.3 Canada: Maritime Information Market, By End-User
10.1.1.3 Mexico: Maritime Information Market - Revenue and Forecast to 2028 (US$ Million)
10.1.1.3.1 Mexico: Maritime Information Market, By Platform
10.1.1.3.2 Mexico: Maritime Information Market, By Application
10.1.1.3.3 Mexico: Maritime Information Market, By End-User
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
11.4 Merger and Acquisition
12. Company Profiles
12.1 BAE Systems Plc
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Spire Global
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Iridium Communications Inc.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 L3Harris Technologies Inc
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Lockheed Martin Corp
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 ORBCOMM Inc.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Saab AB
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Thales Group
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Windward Ltd
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Northrop Grumman Corp
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
12.11 Polestar
12.11.1 Key Facts
12.11.2 Business Description
12.11.3 Products and Services
12.11.4 Financial Overview
12.11.5 SWOT Analysis
12.11.6 Key Developments
12.12 ONEOCEAN
12.12.1 Key Facts
12.12.2 Business Description
12.12.3 Products and Services
12.12.4 Financial Overview
12.12.5 SWOT Analysis
12.12.6 Key Developments
12.13 Fujitsu Limited
12.13.1 Key Facts
12.13.2 Business Description
12.13.3 Products and Services
12.13.4 Financial Overview
12.13.5 SWOT Analysis
12.13.6 Key Developments
12.14 Siemens AG
12.14.1 Key Facts
12.14.2 Business Description
12.14.3 Products and Services
12.14.4 Financial Overview
12.14.5 SWOT Analysis
12.14.6 Key Developments
13. Appendix
13.1 About the Publisher
13.2 Word Index
Table 1. North America Maritime Information Market - Revenue and Forecast to 2028 (US$ Million)
Table 2. US: Maritime Information Market, By Platform -Revenue and Forecast to 2028 (US$ Million)
Table 3. US: Maritime Information Market, By Application -Revenue and Forecast to 2028 (US$ Million)
Table 4. US: Maritime Information Market, By End-User -Revenue and Forecast to 2028 (US$ Million)
Table 5. Canada: Maritime Information Market, By Platform -Revenue and Forecast to 2028 (US$ Million)
Table 6. Canada: Maritime Information Market, By Application -Revenue and Forecast to 2028 (US$ Million)
Table 7. Canada: Maritime Information Market, By End-User -Revenue and Forecast to 2028 (US$ Million)
Table 8. Mexico: Maritime Information Market, By Platform -Revenue and Forecast to 2028 (US$ Million)
Table 9. Mexico: Maritime Information Market, By Application -Revenue and Forecast to 2028 (US$ Million)
Table 10. Mexico: Maritime Information Market, By End-User -Revenue and Forecast to 2028 (US$ Million)
Table 11. List of Abbreviation
Figure 1. North America Maritime Information Market Segmentation
Figure 2. North America Maritime Information Market Segmentation - By Country
Figure 3. North America Maritime Information Market Overview
Figure 4. Vessel Segment held the Largest Share of North America Maritime Information Market
Figure 5. Fleet Management Segment held the Largest Share of North America Maritime Information Market
Figure 6. Commercial Segment held the Largest Share of North America Maritime Information Market
Figure 7. US to Show Great Traction During Forecast Period
Figure 8. North America- PEST Analysis
Figure 9. Ecosystem Analysis: North America Maritime Information Market
Figure 10. Expert Opinion
Figure 11. North America Maritime Information Market: Impact Analysis of Drivers and Restraints
Figure 12. North America Maritime Information Market Forecast and Analysis (US$ Million)
Figure 13. North America Maritime Information Market, By Platform (2021 and 2028)
Figure 14. On-Shore: North America Maritime Information Market Revenue and Forecast to 2028 (US$ Million)
Figure 15. Vessel: North America Maritime Information Market Revenue and Forecast to 2028 (US$ Million)
Figure 16. North America Maritime Information Market, By Application (2021 and 2028)
Figure 17. Fleet Management: North America Maritime Information Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. Vessel Tracking: North America Maritime Information Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. Maritime Security: North America Maritime Information Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. North America Maritime Information Market, By End-User (2021 and 2028)
Figure 21. Commercial: North America Maritime Information Market Revenue and Forecast to 2028 (US$ Million)
Figure 22. Government: North America Maritime Information Market Revenue and Forecast to 2028 (US$ Million)
Figure 23. North America: Maritime Information Market, By Key Country- Revenue (2021) (US$ Million)
Figure 24. North America: Maritime Information Market Revenue Share, By Key Country (2021 and 2028)
Figure 25. US: Maritime Information Market - Revenue and Forecast to 2028 (US$ Million)
Figure 26. Canada: Maritime Information Market - Revenue and Forecast to 2028 (US$ Million)
Figure 27. Mexico: Maritime Information Market - Revenue and Forecast to 2028 (US$ Million)
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- BAE Systems Plc
- Fujitsu Limited
- Iridium Communications Inc.
- L3Harris Technologies Inc.
- Lockheed Martin Corp
- Northrop Grumman Corp
- ONEOCEAN
- ORBCOMM Inc.
- Polestar
- Saab AB
- Siemens AG
- Spire Global
- Thales Group
- Windward Ltd.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 149 |
| Published | January 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 640.54 Million |
| Forecasted Market Value ( USD | $ 881.98 Million |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | North America |
