Global Maritime Analytics Market Size

Statistics for the 2023 & 2024 Global Maritime Analytics market size, created by Mordor Intelligence™ Industry Reports. Global Maritime Analytics size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Global Maritime Analytics Industry

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Maritime Analytics Market
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Study Period 2019 - 2029
Market Size (2024) USD 1.34 Billion
Market Size (2029) USD 2.17 Billion
CAGR (2024 - 2029) 10.01 %
Fastest Growing Market Asia-Pacific
Largest Market North America

Major Players

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*Disclaimer: Major Players sorted in no particular order

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Maritime Analytics Market Analysis

The Global Maritime Analytics Market size is estimated at USD 1.34 billion in 2024, and is expected to reach USD 2.17 billion by 2029, growing at a CAGR of 10.01% during the forecast period (2024-2029).

With the rise of Big Data and the increasing need to make critical business decisions within a compressed timeframe, business intelligence, and analytics tools have gained a substantial market share in the past years. This trend is expected to increase steadily, along with the advancement of technology and rising investments, during the forecast period.

  • The market size reflects the spending on maritime analytics solutions across studied end-users (government and commercial) and is computed realistically. Maritime Analytics is used in predictive maintenance, voyage operations, and fleet management applications.
  • By enhancing overall shipping operations, enhancing ship safety, and safeguarding the environment, predictive analytics technologies have the potential to revolutionize the maritime sector. The significant degree of customization that these solutions provide, depending on the requirements of any port or shipping firm, is also anticipated to support demand over the projected period. Furthermore, This fleet management solution is crucial in saving costs and resource expenditure while ensuring that the fleet complies with the prevailing standards. Hence, these fleet management solutions are increasingly becoming essential to fleet operations. The overall efficiency of a business can be significantly enhanced by eliminating services that offer marginal value.
  • The market is driven by the development of the latest analytical tools. Several BI tools on the market claim to be self-service. Modern self-service BI solutions mainly possess user-friendly graphical interfaces. With enough trial and error, users can often get the answers they want without calling IT for help or learning advanced database language skills. These systems can also handle millions and billions of rows drawn from multiple data sources: in-house databases, cloud storage, apps, Excel spreadsheets, and more. Also, non-technical users can generally choose and manipulate data sources and get them ready for analysis, speeding up time to insights and eliminating the IT bottleneck.
  • However, the software licensing, data sources, and hours of research and assistance will affect how much the maritime analytic solutions cost. Companies who want to make data-driven decisions and are large enough to cover the cost and think about long-term growth and ROI stand to gain the most from maritime data analytics. However, knowing the price of maritime Analytics alone won't convince users to start spending money on the initiative. When it comes to data analytics, users must be fully aware of all possibilities. After all, there are other software options outside maritime analytics.
  • The rising adoption of big data in the marine sector during the pandemic is thriving in the market. Big data analytics is likely to be one of the most significant growth factors for the shipping industry over the next decade. It stated that the shipping industry considers the development of automated processes and functions onboard vessels to be the biggest driver of efficiency in shipping.

Maritime Analytics Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)