The connected ship market size has witnessed strong growth in recent years, rising from $7.3 billion in 2024 to an estimated $7.74 billion in 2025 with a compound annual growth rate (CAGR) of 5.9%. This robust growth can be attributed to factors such as the globalization of trade, advancements in navigation and communication, maritime safety regulations, the development of satellite communication, and the integration of automated systems in shipping.
By 2029, the connected ship market is projected to reach $10.28 billion, growing at a CAGR of 7.4%. The future growth is expected to be driven by widespread automation and digitalization of ships, surging demand for eco-friendly and sustainable shipping methods, adoption of alternative fuels and propulsion systems, expansion of the global shipping network, and the development of autonomous ships.
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What Are The Key Growth Drivers For The Connected Ship Market?
A significant increase in seaborne trade is expected to drive the growth of the connected ship market. Connected ships play a vital role in the transportation and trade of goods including food, technology and medicine. The surge in seaborne trade, which reached about 1.38 Bt in 2023 and surpassed 1.5 Bt in July 2024, underscores the expansion of the connected ship market.
Which Key Segments Define The Connected Ship Market?
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
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Who Are The Major Players In The Connected Ship Market?
Key companies operating in the connected ship market include ABB Corporation, General Electric Company, Emerson Electric Co., Schneider Electric SE, Hyundai Heavy Industries Co. Ltd., Kongsberg Gruppen ASA, Rockwell Automation Inc., Valmet Corporation, Wartsila Oyj Abp, Marlink AS, Northrop Grumman Corporation, RH Marine Group, Siemens Aktiengesellschaft, Ulstein Group ASA, 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 Anschütz GmbH, Sperry Marine BV, Transas Marine International AB and Cobham Satcom A/S.
What Are The Emerging Trends In The Connected Ship Market?
The advent of digital transformation in the marine industry has emerged as a significant trend in the connected ship market. Major players are now leveraging digital transformation technology to meet consumer demands and solidify their market positions. For instance, in March 2022, MSC, an Italy-based shipping company, launched hybrid network solutions and advanced secure IT management.
Which Region Dominates The Connected Ship Market?
In 2024, Asia-Pacific was the largest market for connected ships. The report also covers regions such as Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Does The Connected Ship Market Report 2025 Offer?
Connected ship refers to a ship in which technology is installed, connected, and managed via satellite. Used widely in the shipping and marine industry, connected ships improve safety, security, and navigational efficiency through integrated technology. The Connected Ship Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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