PUBLISHER: The Insight Partners | PRODUCT CODE: 1738011
PUBLISHER: The Insight Partners | PRODUCT CODE: 1738011
Maritime Analytics Market Forecast (2021-2031), Global and Regional Share, Trends, and Growth Opportunity Analysis - by Component (Software and Services), Deployment (Cloud and On Premises), Application (Predictive and Prescriptive Analytics, Optimal Route Mapping, Pricing Insights, Vessel Safety and Security and Others), End User (Commercial and Military), and Geography
The Maritime analytics market size was valued at US$ 1.27 billion in 2024 and is expected to reach US$ 2.56 billion by 2031; it is estimated to record a CAGR of 10.6% from 2025 to 2031.
The maritime analytics market is segmented into five major regions-North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Asia Pacific dominated the market in 2023, followed by Europe and North America, respectively. The maritime analytics market in APAC is segmented into China, India, Japan, Australia, South Korea, and the Rest of APAC. China's gross ocean product (GOP) saw a 5.8% year-on-year increase, reaching US$ 1 trillion (7.2 trillion yuan) in the first three quarters of 2023, reflecting the positive recovery of the country's marine economy. Traditional marine industries in China have shown robust growth. During this period, China maintained its position as the global leader in seagoing vessel market share, with a notable increase in new orders for seacraft and a steady rebound in the economic performance of shipbuilding companies. According to Cui Xiaojian, Deputy Director of the National Marine Data and Information Service, China's marine resource supply capacity has steadily strengthened. 1,219 sea area and island use projects were approved in the first three quarters of 2023, marking a 4.6% increase from the previous year, with total investments exceeding US$ 826 billion (600 billion yuan). This positive growth in China's marine economy highlights the expanding demand for advanced maritime analytics solutions. As the marine industries continue to thrive, leveraging data analytics to optimize fleet management, resource allocation, and project oversight will be essential for improving operational efficiencies and supporting the country's maritime growth
Based on end user the global maritime analytics market is segmented into commercial, and military. The commercial segment held the largest maritime analytics market share. Commercial marine includes offshore, inshore, coastal zone, and short-sea commercial marine businesses. The growing demand for digitalization and optimized cost-efficiency propels the swift adoption of analytics in commercial maritime operations. The global maritime trade is growing. According to the UN Trade and Development (UNCTAD), global maritime trade expanded by 2.4% in 2023, recovering from a decline in 2022, though the recovery remains fragile. Critical chokepoints such as the Suez and Panama Canal are becoming more susceptible to geopolitical tensions, conflicts, and the impacts of climate change. Owing to advantages offered, such as enhanced performance, productivity, safety, and commercial benefits, which include optimal route mapping in case of extreme weather, are fueling the adoption of maritime analytics in the commercial industry. The commercial sector has benefitted from the growing applications and developments of innovative analytics technology, which helps efficient data generation associated with fuel, engine, traffic, cargo, and weather.
Maritime analytics manages a ship's sensors, and predictive analytics help avoid delays and surge the industry's overall operational efficiency. In the marine industry, accurately tracking cargo is essential to maintain security and privacy. In the commercial sector, marine analytics can be used to predict future problems and create more reliable cargo delivery options. Various entities are partnering for the development of maritime analytics solutions. In April 2023, Laskaridis Shipping Company Ltd., the Athens-based shipowner, announced a partnership with maritime technology provider ShipIn Systems to implement the world's first FleetVision Platform. As a result, the company will deploy ShipIn's FleetVision analytics solution across its fleet in the upcoming months.
ABB; ZeroNorth A/S; Solitwork; Windward Ltd; Kpler; OrbitMI, Inc; Shipnet; Hexagon AB; Inmarsat GHL; and Maritech are among the key Maritime analytics market players that are profiled in this market study.
The overall maritime analytics market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the Maritime analytics market size. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Maritime analytics market.