Maritime Information Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market can be segmented by Platform (On-Shore, Vessel), Application (Fleet Management, Vessel Tracking, Maritime Security), End Users (Government, Defense, Commercial), and Geography.

Market Snapshot

Picture1
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 6.65 %

Need a report that reflects how COVID-19 has impacted this market and its growth?

Market Overview

The Maritime Information Market was valued at USD 1005.7 million in 2020 and expected to reach USD 1553.33 million by 2026 and grow at a CAGR of 6.65% over the forecast period (2021-2026). The marine industry has been on a prosperous path over the recent five-year period registering considerable growth across the various sectors within the industry, with ocean shipping, in particular, being the most prominent contributor towards this growth.

  • Better coordination between ships is of critical importance irrespective of their purpose of being on the water. The capabilities of the system can assist in planning transit through a narrow path to avoiding piracy attacks, which are of elementary need. However, it saves an immense amount of monetary and human resource over the course of a single trip.
  • Cyber threats capable of misusing information is a challenging factor which is restraining the market growth. Data like that of vessel and radar details can be altered to affect the ship's functioning.

Scope of the Report

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

By Platform
On-shore
Vessel
By Application
Fleet Management
Vessel Tracking
Maritime Security
By End User
Government
Defense
Commercial
Geography
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa

Report scope can be customized per your requirements. Click here.

Key Market Trends

Automated Identification Systems to Dominate the Market

  • The concerned government authorities across the world have made considerable investments to integrate the AIS (Automatic Identification Systems) into the ships, to reduce the marine accidents and enhance marine traffic management.
  • The International Maritime Organization's International Convention for the Safety of Life at Sea requires automatic identification systems to be fitted in international voyaging ships with 300 or more GT ( Gross Tonnage) and passenger ships, regardless of size. This is leading to a rapid increase in the installation of AIS, thereby boosting the growth of the market.
  • The rise in global trade routes through sea is increasing the ship traffic in the world's 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. 
Picture1

Asia-Pacific to Witness the Highest 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 actually increased by 22% in the past four years. This calls for an increased use of maritime information system.
  • APAC waters witness higher levels of trade globally, thus more ships pass through this region. 
  • 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.
Picture1

Competitive Landscape

The market is fragmented where companies have been proactively investing in the development of effective management systems, which can lead to better coordination between the involved stakeholders.

  • July 2019 - To improve maritime security, Saudi Border Guards established the Jeddah Maritime Information Sharing Center (JMISC), a regional hub for the collection, exchange and analysis of data.
  • June 2019 - The Indian Navy hosted a two day maritime information sharing workshop under the aegis of the Information Fusion Centre — Indian Ocean Region (IFC-IOR) at Gurugram. The workshop aimed to acquaint participants about IFC-IOR and its information sharing mechanisms and promote sharing of best practices in this field.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

      1. 4.3.1 On-board Safety Enhancement and Compliance Conditions is Driving the Market Growth

    4. 4.4 Market Restraints

      1. 4.4.1 Cyber Threats Capable of Misusing Information is Discouraging the Market Growth

    5. 4.5 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.5.1 Threat of New Entrants

      2. 4.5.2 Bargaining Power of Buyers/Consumers

      3. 4.5.3 Bargaining Power of Suppliers

      4. 4.5.4 Threat of Substitute Products

      5. 4.5.5 Intensity of Competitive Rivalry

    6. 4.6 Technology Snapshot

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Platform

      1. 5.1.1 On-shore

      2. 5.1.2 Vessel

    2. 5.2 By Application

      1. 5.2.1 Fleet Management

      2. 5.2.2 Vessel Tracking

      3. 5.2.3 Maritime Security

    3. 5.3 By End User

      1. 5.3.1 Government

      2. 5.3.2 Defense

      3. 5.3.3 Commercial

    4. 5.4 Geography

      1. 5.4.1 North America

      2. 5.4.2 Europe

      3. 5.4.3 Asia-Pacific

      4. 5.4.4 Latin America

      5. 5.4.5 Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Windward Limited

      2. 6.1.2 exactEarth Limited

      3. 6.1.3 SAAB group

      4. 6.1.4 Thales Group

      5. 6.1.5 ORBCOMM Inc.

      6. 6.1.6 Iridium Communications Inc.

      7. 6.1.7 Lockheed Martin Corporation

      8. 6.1.8 Northop Grumman Corporation

      9. 6.1.9 BAE Systems

      10. 6.1.10 L-3 Communications Holdings Inc.

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

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

You can also purchase parts of this report. Do you want to check out a section wise price list?

Frequently Asked Questions

The Maritime Information Market market is studied from 2018 - 2026.

The Maritime Information Market is growing at a CAGR of 6.65% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Windward Limited, exactEarth Ltd., SAAB Group, Thales Group, ORBCOMM Inc. are the major companies operating in Maritime Information Market.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!