The Business Research Company’s report on the Marine Internet Of Things Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the key drivers behind the marine internet of things market’s growth in recent years?
The increase in seaborne trade is expected to propel the growth of the marine internet of things market going forward. Seaborne trade refers to the transportation of goods and commodities via ships across international waters. The increase in seaborne trade is due to cost effectiveness of maritime transport, as it allows large volumes to be transported at lower costs compared to air or land transport. Marine internet of things (IoT) enhances seaborne trade by optimizing vessel operations, improving cargo tracking, and enabling real-time data analytics, leading to better efficiency, reduced costs, and enhanced safety in maritime logistics. For instance, in July 2024, according to the United Nations Trade and Development, a Switzerland-based intergovernmental organization, global maritime trade grew by 2.4% to 12.3 billion tonnes in 2023 compared to previous year. Therefore, the increase in seaborne trade is driving the growth of the marine internet of things market.
Access Your Free Sample of the Global Marine Internet Of Things Market Report – Get Insights Now!
https://www.thebusinessresearchcompany.com/sample.aspx?id=22050&type=smp
How does the future projection of the marine internet of things market size compare to its historical growth?
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 in the historic period can be attributed to the rising maritime digitization, increasing smart shipping adoption, growth in vessel automation, expansion of satellite connectivity, and proliferation 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 in the forecast period can be attributed to rising demand for smart ports, expansion of global trade, growing implementation of AI, increasing defense expenditure, and rising digitalization. Major trends in the forecast period include technological advancements in IoT, a shift towards autonomous shipping, advancements in smart port solutions, advancements in hybrid propulsion technology, and the integration of quantum computing.
Gain Exclusive Market Insights—Customize Your Research Report Today For Fast Delivery!
https://www.thebusinessresearchcompany.com/customise?id=22050&type=smp
Which key players are shaping the future of the marine internet of things market?
Major companies operating 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, Wärtsilä 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.
What trends will propel the growth and evolution of the marine internet of things market?
Major companies operating in the marine internet of things market are focusing on developing innovative solutions such as cloud-based solutions to enhance vessel connectivity, optimize operations, and improve maritime safety. Cloud-based solutions are services, applications, or platforms that operate on remote servers and are accessed via the internet. These solutions enable real-time data processing, storage, and analytics without requiring on-premises infrastructure. For instance, in November 2023, Eco Marine Power Co. Ltd., a Japan-based technology company, in partnership with Surfwave Inc., a US-based logistics company introduced SurfGate IoT gateway, a cloud communication and power-saving IoT gateway. This is designed for maritime applications, enabling seamless sensor and actuator integration that supports multiple connectivity options, including ethernet, RS485/232, wireless LAN, enocean, and bluetooth low energy (NLE), ensuring efficient data transfer and automation.
Which regions are expected to become dominant players in the marine internet of things market?
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 the marine internet of things market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Order Your Report Now For Swift Delivery
https://www.thebusinessresearchcompany.com/report/marine-internet-of-things-global-market-report
What are the emerging key segments in the marine internet of things market, and how are they evolving?
The marine internet of things market covered in this report is segmented –
1) By Component: Sensing Devices, Network Connectivity, Internet Of Things Platforms, Information Technology (IT) Solutions And Services
2) By Ship Type: Commercial, Defence
3) By Application: Vessel Tracking, Predictive Maintenance, Cargo Monitoring, Navigation And Route Optimization, Environmental Monitoring
Subsegments:
1) By Sensing Devices: Environmental Sensors, Structural Monitoring Sensors, Navigation Sensors, Safety And Security Sensors
2) By Network Connectivity: Satellite Communication (GEO, LEO), Cellular Networks (4G Or 5G), Radio Frequency (RF) Communication (VHF Or HF), Underwater Acoustic Communication
3) By Internet Of Things Platforms: Device Management Platforms, Data Analytics Platforms, Cloud-Based IoT Platforms, Edge Computing Platforms,
4) By Information Technology (IT) Solutions And Services: System Integration And Consulting Services, Managed IT And Connectivity Services, Cybersecurity And Data Protection Services, Software Solutions And Application Development
Purchase The Exclusive Report Now To Unlock Valuable Market Insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=22050
How is the marine internet of things market defined?
Marine internet of things (IoT) refers to the integration of IoT technologies, such as sensors, communication networks, and data analytics, into maritime operations to enhance efficiency, safety, and decision-making. It enables real-time monitoring, predictive maintenance, fleet management, and automation in ships, ports, and offshore structures by connecting vessels, cargo, and maritime infrastructure to digital platforms.
About The Business Research Company:
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
https://thebusinessresearchcompany.com/
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
