Connected Ship Market worth $17.2 billion by 2028 – Exclusive …
CHICAGO, Aug. 16, 2023 /PRNewswire/ — The Connected Ship Market[1] is estimated at USD 11.3 billion in 2023 and is projected to reach USD 17.2 billion by 2028, at a CAGR of 7.7 % from 2023 to 2028 according to a new report by MarketsandMarkets™. The growth can be attributed to the increasing need for connected ship for commercial applications and navy missions.
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Browse in-depth TOC on “Connected Ship Market”
125 – Tables
80 – Figures
300 – Pages
Connected Ship Market Report Scope:
Report Coverage
Details
Market Revenue in 2023
$11.3 billion
Estimated Value by 2028
$17.2 billion
Growth Rate
Poised to grow at a CAGR of 7.7%
Market Size Available for
2019–2028
Forecast Period
2023–2028
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Application, Installation, Platform, Fit and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Limited Internet facilities in connected ships
Key Market Opportunities
Adoption of Vessel Traffic Services (VTS) by shipping companies
Key Market Drivers
Increase in global seaborne trade
The Fleet Operation segment held the largest growth rate in the Connected Ship market by application.
By Application, the Connected Ship market has been segmented into Vessel Traffic Management, Fleet operation, Fleet Health Monitoring and Other Applications.
Fleet Operation Segment to hold the highest growth rate during the forecast period. These are widely adopted technological applications to provide real time data access and fleet optimization. Additionally, they can be easily employed on commercial and defense ship. Easy deployment and enhanced efficiency to drive the market for the segment.
The Connected Ship Line fit segment is expected to account for the largest share of Connected Ship by Fit in 2023.
By Fit, the Connected Ship industry[3] is segmented into Line fit, Retrofit and Hybrid fit. The line fit offer the installation of connected ship technology in new ship during its construction. Linefit provides more cost-effective installation process and is more seamlessly integrated into the ship systems, as the technology is designed to work with the ship existing architecture.
The Onboard segment of the Connected ship market by installation is projected to dominate the market.
The Connected ship market based on the installation is segmented into Onboard and Onshore. Onboard segment to hold the highest market and Onshore segment to hold the highest growth rate during the forecast period. The rapid development in the connected ship of maritime to enhanced safety and security is driving the growth of the market.
The Ships segment held the largest growth rate in the Connected Ship market by Platform.
By Platform, the ships segment to hold the largest growth rate during forecast period. The Connected ship market based on platform is segmented into Ships and Ports. Ships offers variety of types from different cargo vessels like Tankers, Bulk carriers, Gas Tankers, Dry Cargo vessels, Container vessels and others for commercial to Destroyer, Frigates, Amphibious ships, Submarine and many other defence ship type. The rise in demand for commercial and defence ships drives the growth of market.
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Asia Pacific is to hold the highest growth rate in 2023.
The Connected Ship market industry has been studied in North America, Europe, Asia Pacific, Rest of the World. The Asia Pacific region accounts for the highest growth rate during the forecast period due to the presence of major Ship Building companies in the region to enhance the growth of the market. China is expected to show the highest growth rate and highest market share of Asia Pacific Region for Connected Ship market. Increase in rise of demand for Connected ship for commercial and defense drives the Connected Ship market in Asia Pacific Region
Major players operating in the Connected Ship Companies[5] are ABB (Switzerland), Emerson Electric Co. (US), Wartsila (Finland), Kongsberg Gruppen ASA (Norway), and Thales Group (France).
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Browse Adjacent Market: Aerospace and Defence Market[7] Research Reports &Consulting
Related Reports:
Autonomous Ships Market[8] by Autonomy (Fully Autonomous, Remotely Operated, Partially Autonomous), Ship Type (Military, Commercial), Solution, End User, Propulsion and Region (North America, Europe, APAC and Rest of the World) – Forecast to 2030
Sonar Systems Market[9] by Application, Platform (Commercial vessels, Defence vessels, Unmanned Underwater Vehicles, Aircrafts, and Ports), Type, Material, and Region (North America, Europe, APAC, Middle East, & RoW) (2021-2026)
Marine Engine Monitoring System Market[10] by Engine Type (Propulsion Engine, Auxiliary Engine), End Use (OEM, Aftermarket), Component (Hardware, Software), Ship Type (Commercial, Naval), Deployment (On-Board, Remote), and Region – Global Forecast to 2025
Vessel Traffic Management Market[11] by End User (Commercial, Defense), Component (Equipment, Solution, Service), Investment (Brownfield, Greenfield), System, Onboard Components (Equipment, Solution), and Region (2022-2027)
Integrated Bridge Systems Market[12] by Ship Type, End User (Oem And Aftermarket), Sub-System (Ins, Automatic Weather Observation System, Voyage Data Recorder and Automatic Identification Systems), Component, Region – Global Forecast to 2027
About MarketsandMarkets™
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References
- ^ Connected Ship Market (www.marketsandmarkets.com)
- ^ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=177031595 (www.marketsandmarkets.com)
- ^ Connected Ship industry (www.marketsandmarkets.com)
- ^ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=177031595 (www.marketsandmarkets.com)
- ^ Connected Ship Companies (www.marketsandmarkets.com)
- ^ https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=177031595 (www.marketsandmarkets.com)
- ^ Aerospace and Defence Market (www.marketsandmarkets.com)
- ^ Autonomous Ships Market (www.marketsandmarkets.com)
- ^ Sonar Systems Market (www.marketsandmarkets.com)
- ^ Marine Engine Monitoring System Market (www.marketsandmarkets.com)
- ^ Vessel Traffic Management Market (www.marketsandmarkets.com)
- ^ Integrated Bridge Systems Market (www.marketsandmarkets.com)
- ^ www.MarketsandMarkets™.com (www.marketsandmarkets.com)
- ^ Twitter (twitter.com)
- ^ LinkedIn (www.linkedin.com)
- ^ Facebook (www.facebook.com)
- ^ [email protected] (www.prnewswire.co.uk)
- ^ https://www.marketsandmarkets.com/ (www.marketsandmarkets.com)
- ^ https://www.marketsandmarkets.com/PressReleases/connected-ship.asp (www.marketsandmarkets.com)
- ^ https://www.marketsandmarkets.com/ResearchInsight/connected-ship-market.asp (www.marketsandmarkets.com)
- ^ https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg (mma.prnewswire.com)