The Business Research Company’s report on the Marine Chartplotter Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the marine chartplotter market further?
The growth in maritime trade is expected to drive the marine chartplotter market going forward. Maritime trade is transporting goods and commodities across international waters using ships and vessels, facilitating global commerce efficiently and cost-effectively. The growth in maritime trade is driven by global economic growth and the expansion of e-commerce, which increases the demand for goods and raw materials to be transported across international waters. Marine chartplotter enhances maritime trade by providing precise navigation, real-time route optimization, and seamless integration with GPS and AIS, ensuring safer, more efficient, and cost-effective shipping operations. For instance, in July 2024, according to the United Nations Conference on Trade and Development (UNCTAD), a Switzerland-based intergovernmental organization, maritime trade volumes totaled 12,292 million tons in 2023, reflecting a 2.4% increase compared to 2022. Therefore, the growth in maritime trade is driving the growth of the marine chartplotter market.
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What are the key factors influencing the forecasted market size of the marine chartplotter industry?
The marine chartplotter market size has grown strongly in recent years. It will grow from $0.68 billion in 2024 to $0.73 billion in 2025 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to an increase in recreational boating activities, increasing use of GPS, increasing procurement of yachts in tourism, rising focus on boating safety innovations, and increased emphasis on maritime safety and navigation accuracy.
The marine chartplotter market size is expected to see strong growth in the next few years. It will grow to $0.96 billion in 2029 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to the adoption of commercial shipping fuels, rising demand for real-time data, increasing adoption of advanced navigation systems, growing need for high-precision depth and sonar mapping, and rise in marine tourism. Major trends in the forecast period include technological advancements, integration with autonomous systems, high-resolution and 3D mapping, augmented reality (AR) integration, and integration of artificial intelligence and machine learning.
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Who are the leading competitors in the marine chartplotter market?
Major companies operating in the marine chartplotter market are Furuno Electric Co. Ltd., Garmin Ltd., Kongsberg Maritime AS, Onwa Marine Electronics Co. Ltd., Navico Group Inc., Humminbird Inc., Raymarine Limited, Koden Electronics Co. Ltd., Simrad Yachting AS, Japan Radio Co. Ltd., Digital Yacht Ltd., Honda Electronics Co. Ltd., ComNav Marine Ltd., Si-Tex Marine Electronics Inc., Alphatron Marine B.V., Maptech Inc., Brookes And Gatehouse, SI-TEX Marine Electronics, NKE Marine Electronics, Northstar Technology Inc.
Which emerging trends are set to transform the marine chartplotter market landscape?
Major companies operating in the marine chartplotter market are focusing on developing innovative technologies, such as enhanced navigation systems, to enhance user experience and ensure safer, more efficient maritime operations. Enhanced navigation systems are advanced technologies that improve the accuracy, efficiency, and safety of route planning and vessel movement using real-time data, GPS, and integrated digital mapping. For instance, in February 2022, Simrad Yachting AS, a Norway-based marine electronics company, launched its latest NSX chartplotter and fishfinder, designed for experienced and novice boaters. This innovative device features a user-friendly touchscreen interface and offers advanced navigation and sonar capabilities, including real-time fish tracking. The NSX integrates seamlessly with marine technologies and provides charts and weather information access. With its functionality and ease of use, the NSX aims to enhance the boating experience.
How do different geographies compare in terms of market share and growth potential in the marine chartplotter market?
North America was the largest region in the marine chartplotter market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the marine chartplotter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Which major segments of the marine chartplotter market are experiencing the fastest growth?
The marine chartplotter market covered in this report is segmented –
1) By Component: Hardware, Software
2) By Type: Standalone Chartplotters, Integrated Chartplotters, Networked Chartplotters
3) By Application: Navigation, Safety And Rescue, Fishing, Recreational Boating
4) By End Use: Commercial Vessels, Recreational Boats, Naval Vessels
Subsegments:
1) By Hardware: Display Units, GPS Receivers, Sonar Modules, Radar Sensors, Transducers
2) By Software: Navigation And Route Planning Software, Real-Time Mapping Software, Fish-Finding And Sonar Imaging Software, Weather And Tidal Data Integration Software, Fleet Management Software
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What defines the structure and scope of the marine chartplotter market?
A marine chartplotter is an electronic device used on boats and ships to display navigational charts, providing real-time information about a vessel’s position, course, and speed. It combines data from various sources to represent the vessel’s location on digital maps visually. Marine chartplotters are essential tools for navigating safely, avoiding hazards, and planning routes in real-time on both inland and offshore waters.
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