PUBLISHER: The Business Research Company | PRODUCT CODE: 1730942
PUBLISHER: The Business Research Company | PRODUCT CODE: 1730942
Marine Internet of Things (IoT) involves the application of IoT technologies-such as sensors, communication networks, and data analytics-into maritime operations to improve efficiency, safety, and decision-making. It allows for real-time monitoring, predictive maintenance, fleet management, and automation across ships, ports, and offshore structures by linking vessels, cargo, and maritime infrastructure to digital systems.
The key elements of marine IoT include sensing devices, network connectivity, IoT platforms, and IT solutions and services. Sensing devices in marine IoT are tools that capture, measure, and send real-time data to enhance vessel operations and cargo tracking. Marine IoT is employed across various types of ships, from commercial to defense vessels, and serves multiple purposes, including vessel tracking, predictive maintenance, cargo monitoring, navigation and route optimization, and environmental monitoring.
The marine internet of things market research report is one of a series of new reports from The Business Research Company that provides marine internet of things market statistics, including the marine internet of things industry global market size, regional shares, competitors with the marine internet of things market share, detailed marine internet of things market segments, market trends, and opportunities, and any further data you may need to thrive in the marine internet of things industry. This marine internet of things market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The marine internet of things market size has grown rapidly in recent years. It will grow from $6.56 billion in 2024 to $7.65 billion in 2025 at a compound annual growth rate (CAGR) of 16.6%. The growth observed during the historical period can be credited to the surge in maritime digitization, the growing adoption of smart shipping, the rise in vessel automation, the expansion of satellite connectivity, and the widespread use of IoT sensors.
The marine Internet of Things market size is expected to see rapid growth in the next few years. It will grow to $13.96 billion in 2029 at a compound annual growth rate (CAGR) of 16.2%. The growth projected for the forecast period can be driven by the increasing demand for smart ports, the expansion of global trade, greater adoption of AI, higher defense spending, and the ongoing digitalization. Key trends during this period include technological innovations in IoT, a shift toward autonomous shipping, progress in smart port solutions, advancements in hybrid propulsion technologies, and the incorporation of quantum computing.
The growth of seaborne trade is expected to drive the expansion of the marine internet of things (IoT) market. Seaborne trade involves transporting goods and commodities by ships across international waters. This method is increasingly preferred due to the cost-effectiveness of maritime transport, which allows large quantities to be moved at a lower cost compared to air or land transportation. Marine IoT plays a key role in optimizing vessel operations, improving cargo tracking, and providing real-time data analytics, which leads to greater efficiency, reduced costs, and enhanced safety in maritime logistics. For example, in July 2024, the United Nations Trade and Development, a Switzerland-based intergovernmental organization, reported that global maritime trade grew by 2.4%, reaching 12.3 billion tonnes in 2023, compared to the previous year. Therefore, the rise in seaborne trade is helping fuel the growth of the marine IoT market.
Companies in the marine IoT market are focusing on developing innovative solutions such as cloud-based technologies to improve vessel connectivity, optimize operations, and enhance maritime safety. Cloud-based solutions are services or platforms that run on remote servers and are accessed via the internet, allowing for real-time data processing, storage, and analytics without the need for on-premises infrastructure. For instance, in November 2023, Eco Marine Power Co. Ltd., a Japan-based technology company, collaborated with Surfwave Inc., a US-based logistics company, to introduce the SurfGate IoT gateway. This cloud-based communication and power-saving gateway is designed for maritime applications, enabling seamless integration of sensors and actuators and supporting various connectivity options such as ethernet, RS485/232, wireless LAN, enocean, and Bluetooth low energy (NLE) to ensure efficient data transfer and automation.
In January 2022, Yamaha Motor Corporation, a Japanese mobility manufacturer, acquired Siren Marine, a US-based marine technology company. The acquisition, whose financial details were not disclosed, strengthens Yamaha's marine technology capabilities by incorporating Siren Marine's connected boat solutions. This integration enhances remote monitoring, tracking, and security while expanding Yamaha's presence in the marine telematics market. Siren Marine specializes in marine IoT technology, offering smart boat monitoring and tracking solutions.
Major players in the marine internet of things market are Nippon Telegraph and Telephone Corporation, Siemens AG, Accenture plc, International Business Machines Corporation, Vodafone Group Plc, Cisco Systems Inc., Oracle Corporation, SAP SE, Hewlett Packard Enterprise Company, Telefonaktiebolaget LM Ericsson, Orange Business Services, Wartsila Corporation, Wilh. Wilhelmsen Holding ASA, Inmarsat Group Holdings Limited, ST Engineering iDirect Inc., Sigfox SAS, ThinkPalm Technologies Private Limited, Futurism Technologies Inc., Dualog AS, DROAM B.V.
North America was the largest region in the marine internet of things market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in marine internet of things (IoT) report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the marine internet of things (IoT) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The marine internet of things (IoT) market consists of revenues earned by entities providing services such as real-time vessel monitoring, port and fleet management, maritime security and surveillance. The market value includes the value of related goods sold by the service provider or included within the service offering. The marine internet of things (IoT) market also includes sales of fuel consumption monitors, automated cargo handling systems and satellite communication devices. 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.
Marine Internet Of Things Global Market Report 2025 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 marine internet of things 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.
Where is the largest and fastest growing market for marine internet of things ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The marine internet of things 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.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.