The global maritime analytics market is expected to grow from US$ 993.39 million in 2021 to US$ 2,150.88 million by 2028; it is estimated to grow at a CAGR of 11.7% from 2021 to 2028.
In today's digital age, the competition in the maritime industry is high and companies are continuously investing in solutions that could help them in enhancing operational productivity while reducing overall costs. As a result, the demand for advanced solutions, such as maritime data analytics, has been increasing rapidly among commercial shippers and other end users. Big data is being utilized in the shipping industry to monitor sensors on ships and perform predictive analysis to avoid delays and boost productivity. The big data insights predict costly issues across the ship's lifecycle, from design to operation to decommissioning. Hamburg Port (Germany), Port of Cartagena (Columbia), Port of Rotterdam (The Netherlands), and several ports in Southeast Asia are actively using big data analytics solutions for their ports and terminal operations. For instance, in September 2021, DTN a leading data, analytics, and technology firm partnered with OrbitMI, a global provider of marine software and data products, to change weather analytics and improve results for the shipping sector with integrated operational information. The partnership gives shipping customers a single site for vessel and fleet management with actionable visualizations for confident decisions.
Further, in May 2021, Danelec Marine partnered with ioCurrents to analyze operational data and improve fleet operations. By partnering with ioCurrents a pioneer in real-time remote vessel analytics and artificial intelligence the maritime industry is poised to take advantage of the latest technological innovations to improve fleet operations. Predictive analytics technologies can alter the shipping sector by improving overall shipping operations, increasing ship safety, and protecting the environment. Additionally, the high level of customization offered by these solutions depending on the specific needs of any port or shipping company is expected to fuel the maritime analytics market during the forecast period. The need for goods transportation would increase significantly in the future as globalization rises. As a result, maritime enterprises would demand advanced data processing techniques and predictive analytics to maximize time efficiency and cost savings. These factors are propelling the global demand for maritime analytics market.
North America is a crucial region for the demand for maritime analytics market owing to the presence of key markets, such as the US and Canada. Logistics and transportation are essential for the smooth operations of most of the industries, such as FMCG, healthcare, retail, and automotive, where shipping contributes a substantial share in the global logistics and transportation sector. Countries, such as the US, are major markets for the growth of the maritime analytics market. Thus, the interruptions in supply chains and logistics operations due to the COVID-19 outbreak are negatively affecting the growth of the key shipping industry players operating in North America. Additionally, the US-China trade war affected the maritime analytics market in 2019. A substantial freight in the US comes by shipping and the restrictions posed by various states on the movement of people are causing a shortage of labor and manpower required for proper functioning of shipping transportation network in the country. The inter-country maritime trade among the US, Canada, and Mexico is also getting affected due to restrictions imposed by various governments to contain the SAR-CoV-2 spread. Presently, the US is the world’s worst-affected country due to the COVID-19 outbreak, as per the World Health Organization (WHO) statistics. Hence, the region’s economy has seen a decline in the past few months, which is negatively impacting the growth of various industries, such as the maritime analytics industry. However, maritime analytics market offers several benefits that can help shipping companies efficiently manage operations and achieve cost reduction. The solutions are anticipated to help companies in regaining their profits.
Maritech Holdings Limited; RightShip Pty Limited; ShipNet; Windward Ltd; Kpler; Kayrros; OrbitMI, Inc.; Q88 LLC; Signal Group; eeSea ApS; Shipfix Technologies S.A.S.; Shipamax Ltd.; Veson Nautical; Siglar Carbon; ZeroNorth A/S; Pole Star Space Applications; Dataloy Systems AS; NINETY PERCENT OF EVERYTHING LIMITED; SEDNA Communications Ltd; Nordic IT; LgMAR; and Trigonal Ltd. are a few key companies operating in the maritime analytics market. The report comprises secondary research work on other companies that hold a significant market share.
The maritime analytics market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the maritime analytics market. The process also serves the purpose of obtaining an overview and forecast for the maritime analytics market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights into the maritime analytics market. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the maritime analytics market.
Reasons to Buy
In today's digital age, the competition in the maritime industry is high and companies are continuously investing in solutions that could help them in enhancing operational productivity while reducing overall costs. As a result, the demand for advanced solutions, such as maritime data analytics, has been increasing rapidly among commercial shippers and other end users. Big data is being utilized in the shipping industry to monitor sensors on ships and perform predictive analysis to avoid delays and boost productivity. The big data insights predict costly issues across the ship's lifecycle, from design to operation to decommissioning. Hamburg Port (Germany), Port of Cartagena (Columbia), Port of Rotterdam (The Netherlands), and several ports in Southeast Asia are actively using big data analytics solutions for their ports and terminal operations. For instance, in September 2021, DTN a leading data, analytics, and technology firm partnered with OrbitMI, a global provider of marine software and data products, to change weather analytics and improve results for the shipping sector with integrated operational information. The partnership gives shipping customers a single site for vessel and fleet management with actionable visualizations for confident decisions.
Further, in May 2021, Danelec Marine partnered with ioCurrents to analyze operational data and improve fleet operations. By partnering with ioCurrents a pioneer in real-time remote vessel analytics and artificial intelligence the maritime industry is poised to take advantage of the latest technological innovations to improve fleet operations. Predictive analytics technologies can alter the shipping sector by improving overall shipping operations, increasing ship safety, and protecting the environment. Additionally, the high level of customization offered by these solutions depending on the specific needs of any port or shipping company is expected to fuel the maritime analytics market during the forecast period. The need for goods transportation would increase significantly in the future as globalization rises. As a result, maritime enterprises would demand advanced data processing techniques and predictive analytics to maximize time efficiency and cost savings. These factors are propelling the global demand for maritime analytics market.
North America is a crucial region for the demand for maritime analytics market owing to the presence of key markets, such as the US and Canada. Logistics and transportation are essential for the smooth operations of most of the industries, such as FMCG, healthcare, retail, and automotive, where shipping contributes a substantial share in the global logistics and transportation sector. Countries, such as the US, are major markets for the growth of the maritime analytics market. Thus, the interruptions in supply chains and logistics operations due to the COVID-19 outbreak are negatively affecting the growth of the key shipping industry players operating in North America. Additionally, the US-China trade war affected the maritime analytics market in 2019. A substantial freight in the US comes by shipping and the restrictions posed by various states on the movement of people are causing a shortage of labor and manpower required for proper functioning of shipping transportation network in the country. The inter-country maritime trade among the US, Canada, and Mexico is also getting affected due to restrictions imposed by various governments to contain the SAR-CoV-2 spread. Presently, the US is the world’s worst-affected country due to the COVID-19 outbreak, as per the World Health Organization (WHO) statistics. Hence, the region’s economy has seen a decline in the past few months, which is negatively impacting the growth of various industries, such as the maritime analytics industry. However, maritime analytics market offers several benefits that can help shipping companies efficiently manage operations and achieve cost reduction. The solutions are anticipated to help companies in regaining their profits.
Maritech Holdings Limited; RightShip Pty Limited; ShipNet; Windward Ltd; Kpler; Kayrros; OrbitMI, Inc.; Q88 LLC; Signal Group; eeSea ApS; Shipfix Technologies S.A.S.; Shipamax Ltd.; Veson Nautical; Siglar Carbon; ZeroNorth A/S; Pole Star Space Applications; Dataloy Systems AS; NINETY PERCENT OF EVERYTHING LIMITED; SEDNA Communications Ltd; Nordic IT; LgMAR; and Trigonal Ltd. are a few key companies operating in the maritime analytics market. The report comprises secondary research work on other companies that hold a significant market share.
The maritime analytics market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the maritime analytics market. The process also serves the purpose of obtaining an overview and forecast for the maritime analytics market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights into the maritime analytics market. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the maritime analytics market.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global maritime analytics market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the global maritime analytics market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
Frequently Asked Questions about the Global Maritime Analytics Market
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| Report Attribute | Details |
|---|---|
| No. of Pages | 161 |
| Published | December 2021 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value ( USD | $ 993.39 million |
| Forecasted Market Value ( USD | $ 2150.88 million |
| Compound Annual Growth Rate | 11.7% |
| Regions Covered | Global |
Table of Contents
1. Introduction
3. Research Methodology
4. Maritime Analytics Market Landscape
5. Maritime Analytics -Market Dynamics
6. Maritime Analytics Market - Global Analysis
7. Maritime Analytics Market Analysis - By Application
8. Maritime Analytics Market Analysis - By End User
9. Maritime Analytics Market - Geographic Analysis
10. Impact of COVID-19 Pandemic
11. Maritime Analytics Market-Industry Landscape
12. Company Profiles
13. Appendix
List of Tables
List of Figures
Companies Mentioned
A selection of companies mentioned in this report includes:
- Maritech Holdings Limited
- RightShip Pty Limited
- ShipNet
- Windward Ltd
- Kpler
- Kayrros
- OrbitMI, Inc.
- Q88 LLC
- Signal Group
- eeSea ApS
- Shipfix Technologies S.A.S.
- Shipamax Ltd.
- Veson Nautical
- Siglar Carbon
- ZeroNorth A/S
- Pole Star Space Applications
- Dataloy Systems AS
- NINETY PERCENT OF EVERYTHING LIMITED
- SEDNA Communications Ltd
- Nordic IT
- LgMAR
- Trigonal Ltd.
