The Global Maritime Digitization Market size is expected to reach $266.5 billion by 2028, rising at a market growth of 9.4% CAGR during the forecast period.
The application of digital technology in the maritime sector to enhance operations, boost productivity, and cut costs is known as maritime digitization. Using technologies likeartificial intelligence (AI),the Internet of Things (IoT),blockchain, cloud computing, and big data analyticsare all part of this. The purpose of marine digitization is to develop a maritime business that is more intelligent, connected, and safe.
Digital technology adoption in the maritime sector can also result in increased operational effectiveness, increased safety, as well as cost savings. Also, it can lessen the negative effects of shipping operations on the environment. The maritime sector is moving more quickly towards digitalization and automation. In order to boost operational efficiency and boost competitiveness, digital technologies, as well as solutions, are being deployed.
They are also being used to push the sector towards decarbonization so that there will be no emissions from international shipping. It is possible to improve monitoring, control, quality assurance, and verification by using data streams from devices like sensors and other sources of information. Therefore, the marine industry's stakeholders need to reconsider and adjust their current strategies to ensure sustainable operations and efficiency and increase short- and long-term competitiveness.
Digital transformation refers to digital attachment with complete operations and automating corresponding areas. There is a requirement for understanding and a shift in maritime company culture. A clever manager may be able to see an increase in revenue production and cost-effectiveness with this kind of transition. So it's crucial to consider both the tactics and the concepts for digitization. The use of strategies, automation, and the maritime industry should be complemented by additional assessments.The onboarding phase of the digitization process should be handled by the maritime industry. Ocean carriers can achieve their digital objectives with the help of the maritime industry's knowledge and significant potential in business reform and workflow management.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Windward Ltd., Inmarsat Global Limited (Connect Bidco Limited), Lockheed Martin Corporation, Spire Global, Inc., Iridium Communications Inc., Orbcomm, Inc. (GI Partners L.P.), MariApps Marine Solutions Pte Ltds (Schulte Group), Marine Solutionz Ship Management Pvt. Ltd., xyzt.ai BV, and Perle Systems Inc.
The application of digital technology in the maritime sector to enhance operations, boost productivity, and cut costs is known as maritime digitization. Using technologies likeartificial intelligence (AI),the Internet of Things (IoT),blockchain, cloud computing, and big data analyticsare all part of this. The purpose of marine digitization is to develop a maritime business that is more intelligent, connected, and safe.
Digital technology adoption in the maritime sector can also result in increased operational effectiveness, increased safety, as well as cost savings. Also, it can lessen the negative effects of shipping operations on the environment. The maritime sector is moving more quickly towards digitalization and automation. In order to boost operational efficiency and boost competitiveness, digital technologies, as well as solutions, are being deployed.
They are also being used to push the sector towards decarbonization so that there will be no emissions from international shipping. It is possible to improve monitoring, control, quality assurance, and verification by using data streams from devices like sensors and other sources of information. Therefore, the marine industry's stakeholders need to reconsider and adjust their current strategies to ensure sustainable operations and efficiency and increase short- and long-term competitiveness.
Digital transformation refers to digital attachment with complete operations and automating corresponding areas. There is a requirement for understanding and a shift in maritime company culture. A clever manager may be able to see an increase in revenue production and cost-effectiveness with this kind of transition. So it's crucial to consider both the tactics and the concepts for digitization. The use of strategies, automation, and the maritime industry should be complemented by additional assessments.The onboarding phase of the digitization process should be handled by the maritime industry. Ocean carriers can achieve their digital objectives with the help of the maritime industry's knowledge and significant potential in business reform and workflow management.
COVID-19 Impact Analysis
The COVID-19 pandemic had a favorable impact on themaritime digitization market. This resulted from transportation businesses trying to increase efficiency and cut costs while dealing with supply chain interruptions. To enhance supply chain and logistics management, the pandemicled to a rise in the usage of digital technologies like automation, telematics, AI,and IoT. Additionally, the pandemicbrought to light the necessity for improved coordination and cooperation among maritime industry players, spurring a rise in the use of digital channels for data sharing and communication. Also, to improve efficiency andresilience in the event of shocks, maritime enterprises quickly implementeddigital technologies. The pandemic brought attention to the maritime sector's need for more effective and affordable solutions, spurring a rise in the use of IoT-based solutions.Market Growth Factors
An increase in the demand for cutting-edge maritime digitization solutions
The marine sector is seeing a rise in the importance of customer satisfaction due to heightened rivalry among businesses and a difficult economic climate. As a result, companies are constantly seeking methods to enhance customer satisfaction and stay competitive. Moreover, elements like travel delays, cargo tracking, dependability, and general service quality might impact customer satisfaction. By allowingbetter coordination and communication between maritime industry stakeholders, including shipping firms, ports, and logistics providers, digitization can contribute to improving these variables. This, in turn, will propel the growth of the market.Implementation of technology to achieve sustainability, efficiency, and decarbonization goals
Almost 11 billion tons of packages are transported annually bycommercial vessels, which account for over80% of all commerce volume. As a result, 3% of the world's total emissions of greenhouse gases (GHG) are released. As a result, shippers, Investors,and regulators are paying more attention to the maritime sector as it pursues ESG score anddecarbonizationdisclosures in the interest of a sustainable environment. In order to meet regulatory requirements, draw investors, and implement maritime digitization for a sustainable future, ESG reporting is particularlygaining traction in the shipping industry. As a result, the maritime digitizationmarket is projected to be driven by sustainability and decarbonization throughout the forecast period.
Market Restraining Factors
Concerns about software's data privacy and high initial cost
The expensive software offers the cutting-edge capability and cutting-edge applications. Unfortunately, this cost can be too high for some customers, making it impossible to get the maritime digitization they need. However, many websites offer cutting-edge capabilities at the exorbitant cost of maritime digitization technologies. Therefore, a major barrier to adopting maritime digitization techniques is their high initial cost. Moreover, many of theseprograms arevulnerable to malware attacks and data leaks.Technology Outlook
Based on technology, the maritime digitization market is categorized into IoT, blockchain, AI, and others. The Internet of Things (IoT) segment garnered the highest revenue share in the maritime digitization market in 2021. This is due to the increased usage of IoT technology, which has been shown to enhance ship as well as fleet operations in a variety of ways, including improved cargo handling,maintenance, and route planning. As a result, the maritime sector is undergoing a revolution because of the Internet of Things (IoT). The Internet of Things (IoT) benefits smart-linked vessels in several ways, including reducing fuel usage and maintenance expenses.Application Outlook
On the basis of application, the maritime digitization market is divided into fleet management, vessel management, energy management, inventory management, and predictive management. The fleet management segment acquired the largest revenue share in the maritime digitization market in 2021. One of the most significant modes of shipping and transportation in the world is maritime transport, which makes fleet management in the maritime industrya crucial solution. Data-savvy maritime fleet management software is necessary to effectively manage a contemporary fleet, whether it has a few or hundreds of ships.End-user Outlook
Based on end user, the maritime digitization market is segmented into ports & terminals, shipping companies, and maritime freight forwarders. The shipping companies segment procured a remarkable growth rate in the maritime digitization market in 2021. Shipping enterprises create cutting-edge digital solutions tailored to their particular industries and businesses and incorporate them into their current (inter) organizational and technological systems. This procedure encompasses sourcing, organizational and technical adaptation,digital infrastructure management, and deployment of technology.Regional Outlook
On the basis of region, the maritime digitization market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment acquired the highest revenue share in the maritime digitization market in 2021. This growth is connected to the concentration of important actors in the region and developments in maritime technology. In addition, the use of technologies like advanced analytics,asset management,IoT, surveillance,and vessel tracking to raise public knowledge of the advantages of digitization in the maritime sector is beneficial for the industry. These aids the sector in operating better in the current technological age so that it can live up to the expectations of customers.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Windward Ltd., Inmarsat Global Limited (Connect Bidco Limited), Lockheed Martin Corporation, Spire Global, Inc., Iridium Communications Inc., Orbcomm, Inc. (GI Partners L.P.), MariApps Marine Solutions Pte Ltds (Schulte Group), Marine Solutionz Ship Management Pvt. Ltd., xyzt.ai BV, and Perle Systems Inc.
Scope of the Study
By Application
- Fleet Management
- Vessel Management
- Inventory Management
- Energy Management
- Predictive Maintenance
By End-user
- Ports & Terminals
- Shipping Companies
- Maritime Freight Forwarders
By Technology
- IoT
- AI
- Blockchain
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Australia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Windward Ltd.
- Inmarsat Global Limited (Connect Bidco Limited)
- Lockheed Martin Corporation
- Spire Global, Inc.
- Iridium Communications Inc.
- Orbcomm, Inc. (GI Partners L.P.)
- MariApps Marine Solutions Pte Ltds (Schulte Group)
- Marine Solutionz Ship Management Pvt. Ltd.
- xyzt.ai BV
- Perle Systems Inc.
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Table of Contents
Chapter 1. Market Scope & Methodology1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Maritime Digitization Market, by Application
1.4.2 Global Maritime Digitization Market, by End User
1.4.3 Global Maritime Digitization Market, by Technology
1.4.4 Global Maritime Digitization Market, by Geography
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Global Maritime Digitization Market by Application
3.1 Global Fleet Management Market by Region
3.2 Global Vessel Management Market by Region
3.3 Global Inventory Management Market by Region
3.4 Global Energy Management Market by Region
3.5 Global Predictive Maintenance Market by Region
Chapter 4. Global Maritime Digitization Market by End User
4.1 Global Ports & Terminals Market by Region
4.2 Global Shipping Companies Market by Region
4.3 Global Maritime Freight Forwarders Market by Region
Chapter 5. Global Maritime Digitization Market by Technology
5.1 Global IoT Market by Region
5.2 Global AI Market by Region
5.3 Global Blockchain Market by Region
5.4 Global Others Market by Region
Chapter 6. Global Maritime Digitization Market by Region
6.1 North America Maritime Digitization Market
6.1.1 North America Maritime Digitization Market by Application
6.1.1.1 North America Fleet Management Market by Country
6.1.1.2 North America Vessel Management Market by Country
6.1.1.3 North America Inventory Management Market by Country
6.1.1.4 North America Energy Management Market by Country
6.1.1.5 North America Predictive Maintenance Market by Country
6.1.2 North America Maritime Digitization Market by End User
6.1.2.1 North America Ports & Terminals Market by Country
6.1.2.2 North America Shipping Companies Market by Country
6.1.2.3 North America Maritime Freight Forwarders Market by Country
6.1.3 North America Maritime Digitization Market by Technology
6.1.3.1 North America IoT Market by Country
6.1.3.2 North America AI Market by Country
6.1.3.3 North America Blockchain Market by Country
6.1.3.4 North America Others Market by Country
6.1.4 North America Maritime Digitization Market by Country
6.1.4.1 US Maritime Digitization Market
6.1.4.1.1 US Maritime Digitization Market by Application
6.1.4.1.2 US Maritime Digitization Market by End User
6.1.4.1.3 US Maritime Digitization Market by Technology
6.1.4.2 Canada Maritime Digitization Market
6.1.4.2.1 Canada Maritime Digitization Market by Application
6.1.4.2.2 Canada Maritime Digitization Market by End User
6.1.4.2.3 Canada Maritime Digitization Market by Technology
6.1.4.3 Mexico Maritime Digitization Market
6.1.4.3.1 Mexico Maritime Digitization Market by Application
6.1.4.3.2 Mexico Maritime Digitization Market by End User
6.1.4.3.3 Mexico Maritime Digitization Market by Technology
6.1.4.4 Rest of North America Maritime Digitization Market
6.1.4.4.1 Rest of North America Maritime Digitization Market by Application
6.1.4.4.2 Rest of North America Maritime Digitization Market by End User
6.1.4.4.3 Rest of North America Maritime Digitization Market by Technology
6.2 Europe Maritime Digitization Market
6.2.1 Europe Maritime Digitization Market by Application
6.2.1.1 Europe Fleet Management Market by Country
6.2.1.2 Europe Vessel Management Market by Country
6.2.1.3 Europe Inventory Management Market by Country
6.2.1.4 Europe Energy Management Market by Country
6.2.1.5 Europe Predictive Maintenance Market by Country
6.2.2 Europe Maritime Digitization Market by End User
6.2.2.1 Europe Ports & Terminals Market by Country
6.2.2.2 Europe Shipping Companies Market by Country
6.2.2.3 Europe Maritime Freight Forwarders Market by Country
6.2.3 Europe Maritime Digitization Market by Technology
6.2.3.1 Europe IoT Market by Country
6.2.3.2 Europe AI Market by Country
6.2.3.3 Europe Blockchain Market by Country
6.2.3.4 Europe Others Market by Country
6.2.4 Europe Maritime Digitization Market by Country
6.2.4.1 Germany Maritime Digitization Market
6.2.4.1.1 Germany Maritime Digitization Market by Application
6.2.4.1.2 Germany Maritime Digitization Market by End User
6.2.4.1.3 Germany Maritime Digitization Market by Technology
6.2.4.2 UK Maritime Digitization Market
6.2.4.2.1 UK Maritime Digitization Market by Application
6.2.4.2.2 UK Maritime Digitization Market by End User
6.2.4.2.3 UK Maritime Digitization Market by Technology
6.2.4.3 France Maritime Digitization Market
6.2.4.3.1 France Maritime Digitization Market by Application
6.2.4.3.2 France Maritime Digitization Market by End User
6.2.4.3.3 France Maritime Digitization Market by Technology
6.2.4.4 Russia Maritime Digitization Market
6.2.4.4.1 Russia Maritime Digitization Market by Application
6.2.4.4.2 Russia Maritime Digitization Market by End User
6.2.4.4.3 Russia Maritime Digitization Market by Technology
6.2.4.5 Spain Maritime Digitization Market
6.2.4.5.1 Spain Maritime Digitization Market by Application
6.2.4.5.2 Spain Maritime Digitization Market by End User
6.2.4.5.3 Spain Maritime Digitization Market by Technology
6.2.4.6 Italy Maritime Digitization Market
6.2.4.6.1 Italy Maritime Digitization Market by Application
6.2.4.6.2 Italy Maritime Digitization Market by End User
6.2.4.6.3 Italy Maritime Digitization Market by Technology
6.2.4.7 Rest of Europe Maritime Digitization Market
6.2.4.7.1 Rest of Europe Maritime Digitization Market by Application
6.2.4.7.2 Rest of Europe Maritime Digitization Market by End User
6.2.4.7.3 Rest of Europe Maritime Digitization Market by Technology
6.3 Asia Pacific Maritime Digitization Market
6.3.1 Asia Pacific Maritime Digitization Market by Application
6.3.1.1 Asia Pacific Fleet Management Market by Country
6.3.1.2 Asia Pacific Vessel Management Market by Country
6.3.1.3 Asia Pacific Inventory Management Market by Country
6.3.1.4 Asia Pacific Energy Management Market by Country
6.3.1.5 Asia Pacific Predictive Maintenance Market by Country
6.3.2 Asia Pacific Maritime Digitization Market by End User
6.3.2.1 Asia Pacific Ports & Terminals Market by Country
6.3.2.2 Asia Pacific Shipping Companies Market by Country
6.3.2.3 Asia Pacific Maritime Freight Forwarders Market by Country
6.3.3 Asia Pacific Maritime Digitization Market by Technology
6.3.3.1 Asia Pacific IoT Market by Country
6.3.3.2 Asia Pacific AI Market by Country
6.3.3.3 Asia Pacific Blockchain Market by Country
6.3.3.4 Asia Pacific Others Market by Country
6.3.4 Asia Pacific Maritime Digitization Market by Country
6.3.4.1 China Maritime Digitization Market
6.3.4.1.1 China Maritime Digitization Market by Application
6.3.4.1.2 China Maritime Digitization Market by End User
6.3.4.1.3 China Maritime Digitization Market by Technology
6.3.4.2 Japan Maritime Digitization Market
6.3.4.2.1 Japan Maritime Digitization Market by Application
6.3.4.2.2 Japan Maritime Digitization Market by End User
6.3.4.2.3 Japan Maritime Digitization Market by Technology
6.3.4.3 India Maritime Digitization Market
6.3.4.3.1 India Maritime Digitization Market by Application
6.3.4.3.2 India Maritime Digitization Market by End User
6.3.4.3.3 India Maritime Digitization Market by Technology
6.3.4.4 South Korea Maritime Digitization Market
6.3.4.4.1 South Korea Maritime Digitization Market by Application
6.3.4.4.2 South Korea Maritime Digitization Market by End User
6.3.4.4.3 South Korea Maritime Digitization Market by Technology
6.3.4.5 Singapore Maritime Digitization Market
6.3.4.5.1 Singapore Maritime Digitization Market by Application
6.3.4.5.2 Singapore Maritime Digitization Market by End User
6.3.4.5.3 Singapore Maritime Digitization Market by Technology
6.3.4.6 Australia Maritime Digitization Market
6.3.4.6.1 Australia Maritime Digitization Market by Application
6.3.4.6.2 Australia Maritime Digitization Market by End User
6.3.4.6.3 Australia Maritime Digitization Market by Technology
6.3.4.7 Rest of Asia Pacific Maritime Digitization Market
6.3.4.7.1 Rest of Asia Pacific Maritime Digitization Market by Application
6.3.4.7.2 Rest of Asia Pacific Maritime Digitization Market by End User
6.3.4.7.3 Rest of Asia Pacific Maritime Digitization Market by Technology
6.4 LAMEA Maritime Digitization Market
6.4.1 LAMEA Maritime Digitization Market by Application
6.4.1.1 LAMEA Fleet Management Market by Country
6.4.1.2 LAMEA Vessel Management Market by Country
6.4.1.3 LAMEA Inventory Management Market by Country
6.4.1.4 LAMEA Energy Management Market by Country
6.4.1.5 LAMEA Predictive Maintenance Market by Country
6.4.2 LAMEA Maritime Digitization Market by End User
6.4.2.1 LAMEA Ports & Terminals Market by Country
6.4.2.2 LAMEA Shipping Companies Market by Country
6.4.2.3 LAMEA Maritime Freight Forwarders Market by Country
6.4.3 LAMEA Maritime Digitization Market by Technology
6.4.3.1 LAMEA IoT Market by Country
6.4.3.2 LAMEA AI Market by Country
6.4.3.3 LAMEA Blockchain Market by Country
6.4.3.4 LAMEA Others Market by Country
6.4.4 LAMEA Maritime Digitization Market by Country
6.4.4.1 Brazil Maritime Digitization Market
6.4.4.1.1 Brazil Maritime Digitization Market by Application
6.4.4.1.2 Brazil Maritime Digitization Market by End User
6.4.4.1.3 Brazil Maritime Digitization Market by Technology
6.4.4.2 Argentina Maritime Digitization Market
6.4.4.2.1 Argentina Maritime Digitization Market by Application
6.4.4.2.2 Argentina Maritime Digitization Market by End User
6.4.4.2.3 Argentina Maritime Digitization Market by Technology
6.4.4.3 UAE Maritime Digitization Market
6.4.4.3.1 UAE Maritime Digitization Market by Application
6.4.4.3.2 UAE Maritime Digitization Market by End User
6.4.4.3.3 UAE Maritime Digitization Market by Technology
6.4.4.4 Saudi Arabia Maritime Digitization Market
6.4.4.4.1 Saudi Arabia Maritime Digitization Market by Application
6.4.4.4.2 Saudi Arabia Maritime Digitization Market by End User
6.4.4.4.3 Saudi Arabia Maritime Digitization Market by Technology
6.4.4.5 South Africa Maritime Digitization Market
6.4.4.5.1 South Africa Maritime Digitization Market by Application
6.4.4.5.2 South Africa Maritime Digitization Market by End User
6.4.4.5.3 South Africa Maritime Digitization Market by Technology
6.4.4.6 Nigeria Maritime Digitization Market
6.4.4.6.1 Nigeria Maritime Digitization Market by Application
6.4.4.6.2 Nigeria Maritime Digitization Market by End User
6.4.4.6.3 Nigeria Maritime Digitization Market by Technology
6.4.4.7 Rest of LAMEA Maritime Digitization Market
6.4.4.7.1 Rest of LAMEA Maritime Digitization Market by Application
6.4.4.7.2 Rest of LAMEA Maritime Digitization Market by End User
6.4.4.7.3 Rest of LAMEA Maritime Digitization Market by Technology
Chapter 7. Company Profiles
7.1 Windward Ltd.
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Regional Analysis
7.1.4 Research & Development Expenses
7.1.5 Recent strategies and developments:
7.1.5.1 Product Launches and Product Expansions:
7.2 Inmarsat Global Limited (Connect Bidco Limited)
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Research & Development Expenses
7.2.4 Recent strategies and developments:
7.2.4.1 Product Launches and Product Expansions:
7.3 Lockheed Martin Corporation
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research & Development Expense
7.4 Spire Global, Inc.
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Research & Development Expenses
7.4.4 Recent strategies and developments:
7.4.4.1 Acquisition and Mergers:
7.5 Iridium Communications Inc.
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Regional Analysis
7.5.4 Research & Development Expenses
7.6 Orbcomm, Inc. (GI Partners L.P.)
7.6.1 Company Overview
7.6.2 Recent strategies and developments:
7.6.2.1 Partnerships, Collaborations, and Agreements:
7.6.2.2 Product Launches and Product Expansions:
7.7 MariApps Marine Solutions Pte Ltds (Schulte Group)
7.7.1 Company Overview
7.7.2 Recent strategies and developments:
7.7.2.1 Partnerships, Collaborations, and Agreements:
7.8 Marine Solutionz Ship Management Pvt. Ltd.
7.8.1 Company Overview
7.9 xyzt.ai BV
7.9.1 Company Overview
7.10. Perle Systems Inc.
7.10.1 Company Overview
Companies Mentioned
- Windward Ltd.
- Inmarsat Global Limited (Connect Bidco Limited)
- Lockheed Martin Corporation
- Spire Global, Inc.
- Iridium Communications Inc.
- Orbcomm, Inc. (GI Partners L.P.)
- MariApps Marine Solutions Pte Ltds (Schulte Group)
- Marine Solutionz Ship Management Pvt. Ltd.
- xyzt.ai BV
- Perle Systems Inc.
Methodology
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