CHICAGO, Aug. 16, 2023 /PRNewswire/ — The Connected Ship Market 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.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=177031595
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 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.
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=177031595
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 are ABB (Switzerland), Emerson Electric Co. (US), Wartsila (Finland), Kongsberg Gruppen ASA (Norway), and Thales Group (France).
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=177031595
Browse Adjacent Market: Aerospace and Defence Market Research Reports &Consulting
Related Reports:
Autonomous Ships Market 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 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 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 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 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™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/PressReleases/connected-ship.asp
Content Source: https://www.marketsandmarkets.com/ResearchInsight/connected-ship-market.asp
Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
SOURCE MarketsandMarkets
