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

The Report Covers Maritime Information Technology Market Overview and It is Segmented by Application (Automatic Identification Systems, Synthetic Aperture Radar, Vessel Identification and Tracking, Satellite Imaging), by End-User (Government, Commercial), and Geography (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Maritime Information Market Size

Maritime Information Market Summary
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Study Period 2019 - 2029
Market Size (2024) USD 2.79 Billion
Market Size (2029) USD 3.97 Billion
CAGR (2024 - 2029) 7.31 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Maritime Information Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Maritime Information Market Analysis

The Maritime Information Market size is estimated at USD 2.79 billion in 2024, and is expected to reach USD 3.97 billion by 2029, growing at a CAGR of 7.31% during the forecast period (2024-2029).

The users of maritime information gather data to ensure safety at sea, efficiency in marine operations, and productivity. Maritime information offers regulatory compliance, enhances awareness, provides scientific and survey data, and monitors the environment for suspicious or illegal actions.

  • With ship traffic increasing, it has become essential to improve the security and safety of ships and safeguard their environment. According to the IBEF report, in India, approximately 70% of India's trading by value and 95% by volume is done through maritime transport. From April to October 2022, the cargo traffic at the major ports of India was reported to be 446.50 million metric tons, an increase of 40% as compared to the previous year.
  • Additionally, information exchange forms the basis for different segments within the maritime industry to coordinate with each other to enable smooth functioning. Systems integrated with maritime traffic monitoring capabilities and effective tracking systems, such as automatic identification systems (AIS), synthetic aperture radar (SAR), etc., have emerged as fundamental needs for vessels.
  • The maritime industry has long traditions of continuously adopting and adapting to new technology. With the help of maritime information technology or system, cargo owners can easily track their shipments and automate and streamline the flow of information between the different parties in the maritime transport chain, and improve their operations.
  • The rise in trade activities has also given rise to maritime threats, such as terrorist attacks, environmental destruction, and illegal seaborne immigration. Moreover, owing to the liberalization of world trade, there has been an increase in the number of ships that traverse the oceans, which, in turn, is impacting the demand for such solutions.
  • Safety at sea is gaining importance, and the governments of various countries are investing in tracking technologies. The governments of countries like China and the United States play a vital role in promoting maritime security since the maritime industry adds to the economic growth of these regions.
  • Maritime information plays a vital role in economic development, as most of the global trade is conducted by sea and is estimated to reach 180 billion metric tons in volume by 2030, per the OECD. As this continuous business growth has driven up the number of illegal activities, governments worldwide are increasing their maritime budget, likely to provide market growth opportunities.
  • For instance, in October 2022, the U.S. Department of Transportation announced to invest approximately USD 703 million to fund 41 projects across the 21 states and one territory to improve port facilities through the Maritime Administration's Port Infrastructure Development Program. Through this investment, the government aims to modernize ports of all sizes and improve supply chain reliability and more efficient operations.

Maritime Information Market Trends

Automated Identification Systems to Dominate the Market

  • An automatic identification system is a computerized tracking system that shows other nearby vessels. It is installed on ships to identify ships and nautical signs. In coastal waters, coastal authorities use AIS as a monitoring tool for land-to-ship communications to broadcast information about tides, NTMs, and local weather conditions. In addition, AIS helps monitor dangerous cargo movements and manage commercial fishing activities in the area.
  • The concerned government authorities worldwide have made considerable investments to integrate AIS (Automatic Identification Systems) into ships to reduce marine accidents and enhance marine traffic management. The global maritime sector is increasingly adopting Automatic Identification Systems (AIS). Maritime activities such as vessel traffic management employ AIS by helping fleet staff make well-informed decisions pertaining to collision avoidance, vessel navigation, grounding of ships, and vessel rescue.
  • The International Maritime Organization's "International Convention on the Safety of Life at Sea" requires all international passenger ships and passenger ships of 300 GT (gross tonnage) or more to install an automatic identification system regardless of their size. This is leading to a rapid increase in the installation of automatic identification systems, thereby boosting the market's growth. The rise in global trade routes through the sea is increasing ship traffic in the oceans. According to the study, there are four times as many ships at sea now than 20 years ago. Factors like these are helping in AIS demand.
  • Surveillance of sea freight and oceanic vessels has significantly increased as stringent environmental regulations such as marine protected areas (MPAs) require more comprehensive surveillance to reduce traffic restrictions risks and detect illegal traffic. The increasing spending on marine products and services by various governments worldwide, increasing security threats, and the growing number of waterborne transportation and trade are the main factors driving the market's growth.
  • Moreover, several leading players are focusing on developing new products to gain a competitive advantage in the market. For instance, in May 2022, ACR Electronics and Ocean Signal announced introducing integrated AIS (Automatic Identification System) within its EPIRBs to offer commercial and recreational users extra reassurance that other nearby vessels will be notified in an emergency.
Maritime Information Market: Number of Ships in the World Merchant Fleet as of January 1, 2022, by Type

Asia-Pacific to Witness the Significant Growth

  • According to a survey conducted by Allianz Global Corporate & Specialty (AGCS), a unit of the Allianz Group, the number of reported shipping incidents overall in Asia increased by 22% in the past four years. This calls for increased use of maritime information systems.
  • Many ports, mainly Indian ports, are now deploying new technologies where automatic identification systems play a significant role, driving the market's growth. This is expected to solve the inefficiency of Indian ports in cargo handling, owing to constraints such as long dwell time.
  • Maritime information plays a vital role in economic development, as most of the global trade is conducted by sea and is estimated to reach 180 billion metric tons in volume by 2030, per the OECD. As this continuous business growth has driven up the number of illegal activities, governments of counties including China, Japan, and India are increasing the maritime budget, which will likely provide market growth opportunities.
  • The government in the region is also supporting the growth of the maritime industry, further fuelling the market growth. For instance, in May 2023, the government of India announced five initiatives to make the country a global leader in the maritime sector. The five initiative, also called "Panch Karma Sankalp," includes 30% financial support from the government to promote green shipping and digitization of ports.
  • In many cases, port infrastructure in Asia is new, and there are many new or expanding ports in China, Korea, Japan, and Malaysia. This calls for an improved maritime information system to address future challenges. Safety at sea is gaining importance, and the governments of various countries are investing in tracking technologies. The governments of countries like China play a vital role in promoting maritime security since the maritime industry adds to the economic growth of these regions.
  • Further, countries like India, China, Japan, and South Korea continuously increase their defense budgets yearly to strengthen national security. The government of India is planning to handle threats by implementing a national automatic identification system to ensure the safety and security of its coastline.
Global Maritime Information Market - Growth Rate by Region

Maritime Information Industry Overview

The Global Maritime Information Market is very competitive. The market is highly concentrated due to various small and large players. All the major players account for a large market share and focus on expanding their consumer base worldwide. Some of the significant players in the market are Windward Limited, SAAB Group, Thales Group, ORBCOMM Inc., Spire Global, Iridium Communications Inc., and many more. The companies are increasing the market share by forming multiple partnerships and introducing new solutions to earn a competitive edge during the forecast period.

  • October 2023 -ORBCOMM Inc. provider of supply chain IoT technology, announced that its new dry container telematics solution is commercially available through its global distribution network. ORBCOMM's dry container solution helps shipping lines and their customers gain visibility and traceability to turn real-time data into decisions about their maritime operations. The solution provides end-to-end monitoring for dry marine containers moving through complex supply chains worldwide to make operations more transparent, secure, and profitable.
  • May 2023- Spire Global, Inc. announced to launch of its new Deep Navigation Analytics (DNA) Platform to deliver essential information to maritime stakeholders through three layers: actionable intelligence APIs, maritime weather data APIs, and decision support solutions and visualizations. The platform utilizes radio occultation (RO) data collected from the company's fully deployed constellation of satellites and a proprietary weather forecast model that processes the RO data to generate a 15-day global weather forecast that users can use and provides access to the latest weather forecasts.

Maritime Information Market Leaders

  1. Windward Limited

  2. SAAB Group

  3. Thales Group

  4. ORBCOMM Inc.

  5. Spire Global

*Disclaimer: Major Players sorted in no particular order

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Maritime Information Market News

  • June 2023 - Inmarsat Maritime announced the launch of a fleet reach service to bring seamless connectivity to ships from sea to port. The new maritime connectivity service will enable uninterrupted access to high-speed connectivity, even when docked in ports, beating the coastal capacity crunch. The company's Fleet Reach service is optimized by Fleet Xpress, which offers supercharged coastal connectivity and enables faster speeds, increased signal strength, lower latency, and more reliable connectivity when sailing near coasts or docked in-port
  • October 2023 - Prime Minister Narendra Modi launched maritime projects worth INR 23,000 crore and unveiled a long-term vision document for India's blue economy at the Global Maritime India Summit 2023.

Maritime Information Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.2.1 Bargaining Power of Suppliers

      2. 4.2.2 Bargaining Power of Consumers

      3. 4.2.3 Threat of New Entrants

      4. 4.2.4 Threat of Substitutes

      5. 4.2.5 Intensity of Competitive Rivalry

    3. 4.3 Assessment of the Impact of COVID-19 on the Market

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

      1. 5.1.1 Advantage of Enhancing On-board Safety and Compliance Conditions on Ships

    2. 5.2 Market Challenges

      1. 5.2.1 Cyber Threats Capable of Misusing Information

  6. 6. MARKET SEGMENTATION

    1. 6.1 By Application

      1. 6.1.1 Automatic Identification Systems

      2. 6.1.2 Synthetic Aperture Radar

      3. 6.1.3 Vessel Identification and Tracking

      4. 6.1.4 Satellite Imaging

      5. 6.1.5 Other Applications

    2. 6.2 By End-user

      1. 6.2.1 Government

      2. 6.2.2 Commercial

    3. 6.3 By Geography

      1. 6.3.1 North America

      2. 6.3.2 Europe

      3. 6.3.3 Asia-Pacific

      4. 6.3.4 Latin America

      5. 6.3.5 Middle East and Africa

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Company Profiles

      1. 7.1.1 Windward Limited

      2. 7.1.2 SAAB group

      3. 7.1.3 Thales Group

      4. 7.1.4 ORBCOMM Inc.

      5. 7.1.5 Spire Global

      6. 7.1.6 Iridium Communications Inc.

      7. 7.1.7 Inmarsat Global Limited

      8. 7.1.8 Northrop Grumman Corporation

      9. 7.1.9 BAE Systems

      10. 7.1.10 L3 Harris Technologies, Inc.

    2. *List Not Exhaustive
  8. 8. INVESTMENT ANALYSIS

  9. 9. FUTURE OF THE MARKET

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Maritime Information Industry Segmentation

The maritime industry has been on the cusp of evolution in response to constant changes in the economic, political, and technological trends governing the industry's growth. Information exchange forms the basis for different segments within the maritime industry to coordinate with each other to enable smooth functioning.

The maritime information market is segmented by application (automatic identification systems, synthetic aperture radar, vessel identification and tracking, satellite imaging), by end-user (government, commercial), and by geography (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.

By Application
Automatic Identification Systems
Synthetic Aperture Radar
Vessel Identification and Tracking
Satellite Imaging
Other Applications
By End-user
Government
Commercial
By Geography
North America
Europe
Asia-Pacific
Latin America
Middle East and Africa
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Maritime Information Market Research FAQs

The Maritime Information Market size is expected to reach USD 2.79 billion in 2024 and grow at a CAGR of 7.31% to reach USD 3.97 billion by 2029.

In 2024, the Maritime Information Market size is expected to reach USD 2.79 billion.

Windward Limited, SAAB Group, Thales Group, ORBCOMM Inc. and Spire Global are the major companies operating in the Maritime Information Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Maritime Information Market.

In 2023, the Maritime Information Market size was estimated at USD 2.59 billion. The report covers the Maritime Information Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Maritime Information Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Maritime Information Industry Report

Statistics for the 2024 Maritime Information market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Maritime Information analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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