Connected Ship Global Market Report 2024

Description

“Connected Ship Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on connected ship market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
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Where is the largest and fastest growing market for connected ship? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The connected ship market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Type: Commercial; Defense; Other Types
2) By Fit: Linefit; Retrofit
3) By Installation Type: Onboard; Onshore
4) By Application: Vessel Traffic Management; Fleet Operations; Fleet Health Monitoring; Other Applications
Companies Mentioned: ABB Corporation; General Electric Company; Emerson Electric Co.; Schneider Electric SE; Hyundai Heavy Industries Co. Ltd.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

The connected ship refers to ships in which technology is installed and connected and managed via satellite. The connected ships are used within the shipping and marine industry to improve safety, security, and navigational efficiency through technology integration. They are used in a variety of operations, such as ship traffic management, fleet operations, and fleet health operations.

The main types of connected ships are commercial, defense, and others. The connected ships commercial market consists of sales of connected ship solutions that are used by individuals or corporations for transporting goods from the manufacturer or producer to a market, customer or final point of distribution. The various types of fits are linefit and retrofit, which are installed either onboard or onshore. They are used in various applications such as vessel traffic management, fleet operations, fleet health monitoring, and others.

The connected ship market research report is one of a series of new reports from The Business Research Company that provides connected ship market statistics, including global market size, regional shares, competitors with a connected ship market share, detailed connected ship market segments, market trends and opportunities, and any further data you may need to thrive in the connected ship industry. This connected ship market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The connected ship market size has grown strongly in recent years. It will grow from $6. 95 billion in 2023 to $7. 41 billion in 2024 at a compound annual growth rate (CAGR) of 6. 5%. The growth in the historic period can be attributed to globalization of trade, navigation and communication advancements, maritime safety regulations, development of satellite communication, integration of automated systems in shipping.

The connected ship market size is expected to see strong growth in the next few years. It will grow to $9. 64 billion in 2028 at a compound annual growth rate (CAGR) of 6. 8%. The growth in the forecast period can be attributed to increased automation and digitalization of ships, growing demand for eco-friendly and sustainable shipping, adoption of alternative fuels and propulsion systems, expansion of the global shipping network, development of autonomous ships. Major trends in the forecast period include smart shipping solutions, integration of blockchain in maritime operations, remote monitoring and diagnostics, autonomous and unmanned vessels, environmental monitoring and compliance systems.

The rise in the seaborne trade is expected to propel the growth of the connected ship market going forward. Seaborne trade refers to the cargo that is carried on a boat for trade. Connected ships are used for the transportation and trade of food, technology, medicine, and other items. Growth and sustainable development depend heavily on affordable and effective maritime transportation. For instance, in 2022, according to a report published by Ship Technology, a US-based procurement and reference resource provider, there's a 43% increase in supply chain and logistics reported in Q3 of 2021 to boost the maritime industry. Therefore, the rise in seaborne trade is driving the growth of the connected ship market.

Growing marine traffic is expected to propel the growth of the connected ships market going forward. Marine traffic refers to the movement of ships and other vessels on the sea or inland waterways. As marine traffic increases, connected ships leverage advanced communication systems to improve navigation, allowing vessels to communicate with each other and with onshore facilities. This helps in preventing collisions, optimizing routes, and ensuring smoother traffic management. For instance, in January 2023, according to BigOceanData, a pioneer of the ship tracking industry, Global marine traffic has increased with container ships spending 13. 7% longer in port. Therefore, growing marine traffic is driving the growth of the connected ships market.

Digital transformation in marine has emerged as the key trend gaining popularity in the connected ship market. The purpose of the connected ships is to use technology and other platforms to demonstrate a digitalization platform on board a ship. Major companies operating in the connected ship market are focused on new digital transformation technology to meet consumer demand and strengthen their position. For instance, in March 2022, MSC, an Italy-based shipping company, launched hybrid network solutions and advanced secure IT management. Cyber detection services fully protect this hybrid network solution. The service scans outbound and inbound network traffic to detect targeted cyber threats in real-time and takes immediate steps to correct incidents.

Major companies operating in the connected ship market are focusing on strategic investments to strengthen their position in the market. Strategic investments are made with a long-term perspective, aiming to create value or achieve specific objectives over an extended period, rather than for short-term gains. Funds allocated to research and invest in advanced technologies that facilitate the development of connected ship systems. This might involve IoT, data analytics, AI, automation, and remote monitoring systems for ships. For instance, in October 2023, PSA Marine, a Singapore-based leader in the maritime sector, has built a fleet monitoring centre in Singapore, Fleet Data-To-Knowledge (D2K) Centre, to monitor its harbour tug fleet and uses simulators to train its marine crew there. Using digitalisation technologies and wall-length screens, PSA Marine observes harbour tug positioning, operations, fuel consumption and machinery health while managing the scheduling and deployment of its tugs inhouse. It can visualise the location of the fleet around Singapore port waters using Automatic Identification System (AIS) data, and monitors transit times, speed and fuel consumption on the modern tugs to help tug masters to optimise operations and improve efficiency.

In April 2021, Inmarsat, a UK-based satellite communications solutions provider, entered into a partnership deal with OneOcean for an undisclosed amount. Through this agreement, Inmarsat would be able to advance in the digitalization of navigation and compliance in the maritime sector. OneOcean is a UK-based provider of digital marine solutions that specializes in voyage compliance and digital navigation.

Major companies operating in the in the connected ship market report are ABB Corporation, General Electric Company, Emerson Electric Co., Schneider Electric SE, Hyundai Heavy Industries Co. Ltd., Jason Industries Inc., Kongsberg Gruppen ASA, Rockwell Automation Inc., Valmet Corporation, Wartsila Oyj Abp, Marlink AS, Northrop Grumman Corporation, RH Marine Group, Siemens Aktiengesellschaft, Ulstein Group ASA, Smith & Nephew plc, Thales Group, Furuno Electric Co. Ltd., Navico Holding AS, Inmarsat plc, Telefonaktiebolaget LM Ericsson, Intelsat Corporation, Harris Corporation, Iridium Communications Inc., KVH Industries Inc., Raytheon Anschutz GmbH, Sperry Marine BV, Transas Marine International AB, Cobham Satcom A/S, GNS GmbH

Asia-Pacific was the largest region in the connected ship market in 2023. The regions covered in the connected ship market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the connected ship market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The connected ship market consists of sales of container ships, bulk carrier, tanker ships, passenger ships and naval ships. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r10261

1. Executive Summary

2. Connected Ship Market Characteristics

3. Connected Ship Market Trends And Strategies

4. Connected Ship Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Connected Ship Market Size and Growth

5.1. Global Connected Ship Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Connected Ship Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Connected Ship Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Connected Ship Market Segmentation

6.1. Global Connected Ship Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Commercial
Defense
Other Types
6.2. Global Connected Ship Market, Segmentation By Fit, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Linefit
Retrofit
6.3. Global Connected Ship Market, Segmentation By Installation Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Onboard
Onshore
6. 4. Global Connected Ship Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Vessel Traffic Management
Fleet Operations
Fleet Health Monitoring
Other Applications

7. Connected Ship Market Regional And Country Analysis

7.1. Global Connected Ship Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Connected Ship Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Connected Ship Market

8.1. Asia-Pacific Connected Ship Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Connected Ship Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Connected Ship Market, Segmentation By Installation Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8. 4. Asia-Pacific Connected Ship Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Connected Ship Market

9.1. China Connected Ship Market Overview
9.2. China Connected Ship Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Connected Ship Market, Segmentation By Installation Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9. 4. China Connected Ship Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Connected Ship Market

10.1. India Connected Ship Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Connected Ship Market, Segmentation By Installation Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Connected Ship Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Connected Ship Market

11.1. Japan Connected Ship Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.2. Japan Connected Ship Market, Segmentation By Installation Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Connected Ship Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Connected Ship Market

12.1. Australia Connected Ship Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Connected Ship Market, Segmentation By Installation Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Connected Ship Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Connected Ship Market

13.1. Indonesia Connected Ship Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Connected Ship Market, Segmentation By Installation Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Connected Ship Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Connected Ship Market

14.1. South Korea Connected Ship Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.2. South Korea Connected Ship Market, Segmentation By Installation Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Connected Ship Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Connected Ship Market

15.1. Western Europe Connected Ship Market Overview
15.2. Western Europe Connected Ship Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Connected Ship Market, Segmentation By Installation Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15. 4. Western Europe Connected Ship Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Connected Ship Market

16.1. UK Connected Ship Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Connected Ship Market, Segmentation By Installation Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Connected Ship Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Connected Ship Market

17.1. Germany Connected Ship Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Connected Ship Market, Segmentation By Installation Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Connected Ship Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Connected Ship Market

18. 5. France Connected Ship Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. 6. France Connected Ship Market, Segmentation By Installation Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. 7. France Connected Ship Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Connected Ship Market

19. 9. Italy Connected Ship Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.10. Italy Connected Ship Market, Segmentation By Installation Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.11. Italy Connected Ship Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Connected Ship Market

20.13. Spain Connected Ship Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.14. Spain Connected Ship Market, Segmentation By Installation Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.15. Spain Connected Ship Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Connected Ship Market

21.1. Eastern Europe Connected Ship Market Overview
21.2. Eastern Europe Connected Ship Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Connected Ship Market, Segmentation By Installation Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21. 4. Eastern Europe Connected Ship Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Connected Ship Market

22.1. Russia Connected Ship Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Connected Ship Market, Segmentation By Installation Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Connected Ship Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Connected Ship Market

23.1. North America Connected Ship Market Overview
23.2. North America Connected Ship Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Connected Ship Market, Segmentation By Installation Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23. 4. North America Connected Ship Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Connected Ship Market

24.1. USA Connected Ship Market Overview
24.2. USA Connected Ship Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Connected Ship Market, Segmentation By Installation Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24. 4. USA Connected Ship Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Connected Ship Market

25.1. Canada Connected Ship Market Overview
25.2. Canada Connected Ship Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Connected Ship Market, Segmentation By Installation Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25. 4. Canada Connected Ship Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Connected Ship Market

26.1. South America Connected Ship Market Overview
26.2. South America Connected Ship Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Connected Ship Market, Segmentation By Installation Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26. 4. South America Connected Ship Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Connected Ship Market

27.1. Brazil Connected Ship Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Connected Ship Market, Segmentation By Installation Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Connected Ship Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Connected Ship Market

28.1. Middle East Connected Ship Market Overview
28.2. Middle East Connected Ship Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Connected Ship Market, Segmentation By Installation Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28. 4. Middle East Connected Ship Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Connected Ship Market

29.1. Africa Connected Ship Market Overview
29.2. Africa Connected Ship Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Connected Ship Market, Segmentation By Installation Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29. 4. Africa Connected Ship Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Connected Ship Market Competitive Landscape And Company Profiles

30.1. Connected Ship Market Competitive Landscape
30.2. Connected Ship Market Company Profiles
- 30.2.1. ABB Corporation
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1. 4. Financial Performance
- 30.2.2. General Electric Company
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2. 4. Financial Performance
- 30.2.3. Emerson Electric Co.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3. 4. Financial Performance
- 30.2. 4. Schneider Electric SE
  - 30.2. 4.1. Overview
  - 30.2. 4.2. Products and Services
  - 30.2. 4.3. Strategy
  - 30.2. 4. 4. Financial Performance
- 30.2. 5. Hyundai Heavy Industries Co. Ltd.
  - 30.2. 5.1. Overview
  - 30.2. 5.2. Products and Services
  - 30.2. 5.3. Strategy
  - 30.2. 5. 4. Financial Performance

31. Global Connected Ship Market Competitive Benchmarking

32. Global Connected Ship Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Connected Ship Market

34. Connected Ship Market Future Outlook and Potential Analysis

34.1 Connected Ship Market In 2028 - Countries Offering Most New Opportunities
34.2 Connected Ship Market In 2028 - Segments Offering Most New Opportunities
34. 3 Connected Ship Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35. 4. Research Inquiries
35. 5. The Business Research Company
35. 6. Copyright And Disclaimer