Connected Ship Trends and Forecast
The future of the global connected ship market looks promising with opportunities in the vessel traffic management, fleet health monitoring, and fleet operation markets. The global connected ship market is expected to reach an estimated $13.6 billion by 2030 with a CAGR of 7.4% from 2024 to 2030. The major drivers for this market are rise in global seaborne trade, increasing adoption of digitization in the shipping industry, and significantly growing maritime tourism industry.Connected Ship by Segment
The study includes a forecast for the global connected ship by installation, fit, platform, application, and region.Connected Ship Market by Installation [Shipment Analysis by Value from 2018 to 2030]
- Onboard
- Onshore
Connected Ship Market by Fit [Shipment Analysis by Value from 2018 to 2030]
- Line Fit
- Retrofit
- Hybrid Fit
Connected Ship Market by Platform [Shipment Analysis by Value from 2018 to 2030]
- Ship
- Port
Connected Ship Market by Application [Shipment Analysis by Value from 2018 to 2030]
- Vessel Traffic Management
- Fleet Health Monitoring
- Fleet Operation
- Others
Connected Ship Market by Region [Shipment Analysis by Value from 2018 to 2030]
- North America
- Europe
- Asia Pacific
- The Rest of the World
List of Connected Ship Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies connected ship companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the connected ship companies profiled in this report include-- Abb
- Emerson Electric
- Wartsila
- Kongsberg Gruppen
- Thales
Connected Ship Market Insights
The publisher forecasts that onboard will remain the larger market over the forecast period as it enables connectivity, data exchange, automation, and efficient operations.Within this market, fleet operation will remain the largest segment due to growth in need in the maritime industry and increasing adoption of advanced technological solutions.
APAC is expected to witness highest growth over the forecast period due to high demand of advanced vessels and advancements in maritime in this region.
Features of the Global Connected Ship Market
- Market Size Estimates: Connected ship market size estimation in terms of value ($B).
- Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
- Segmentation Analysis: Connected ship market size by various segments, such as by installation, fit, platform, application, and region in terms of value ($B).
- Regional Analysis: Connected ship market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
- Growth Opportunities: Analysis of growth opportunities in different installation, fit, platforms, applications, and regions for the connected ship market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape of the connected ship market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the connected ship market size?Answer: The global connected ship market is expected to reach an estimated $13.6 billion by 2030.
Q2. What is the growth forecast for connected ship market?
Answer: The global connected ship market is expected to grow with a CAGR of 7.4% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the connected ship market?
Answer: The major drivers for this market are rise in global seaborne trade, increasing adoption of digitization in the shipping industry, and significantly growing maritime tourism industry.
Q4. What are the major segments for connected ship market?
Answer: The future of the connected ship market looks promising with opportunities in the vessel traffic management, fleet health monitoring, and fleet operation markets.
Q5. Who are the key connected ship market companies?
Answer: Some of the key connected ship companies are as follows:
- Abb
- Emerson Electric
- Wartsila
- Kongsberg Gruppen
- Thales
Answer: The publisher forecasts that onboard will remain the larger market over the forecast period as it enables connectivity, data exchange, automation, and efficient operations.
Q7. In connected ship market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period due to high demand of advanced vessels and advancements in maritime in this region.
Q8. Do we receive customization in this report?
Answer: Yes,the publisher provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the connected ship market by installation (onboard and onshore), fit (line fit, retrofit, and hybrid fit), platform (ship and port), application (vessel traffic management, fleet health monitoring, fleet operation, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
This product will be delivered within 1-3 business days.
Table of Contents
1. Executive Summary
2. Global Connected Ship Market: Market Dynamics
3. Market Trends and Forecast Analysis from 2018 to 2030
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
5. Competitor Analysis
6. Growth Opportunities and Strategic Analysis
7. Company Profiles of Leading Players
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Abb
- Emerson Electric
- Wartsila
- Kongsberg Gruppen
- Thales
Methodology
The analyst has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets/applications and served over 1,000 clients worldwide. Each study is a culmination of four months of full-time effort performed by the analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in the market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of professionals, who have analyzed and tracked the market over the years.
Extensive research and interviews are conducted in the supply chain of the market to estimate market share, market size, trends, drivers, challenges and forecasts.
Thus, the analyst compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. The analyst then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process.
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