Digital Transformation and Security Concerns Drive Growth in the Global Maritime Information Market

DUBLIN, Oct. 17, 2023 /PRNewswire/ -- The "Maritime Information Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to  ResearchAndMarkets.com's offering.

The global maritime information market has experienced substantial growth, reaching a size of US$ 1.8 billion in 2022. The market is poised for significant expansion, with a projected reach of US$ 3.2 billion by 2028, demonstrating an impressive compound annual growth rate (CAGR) of 19% during the period 2023-2028.

Maritime navigation, a practice dating back centuries for trade, travel, and security, has undergone a digital transformation. This transformation has ushered in the era of maritime information solutions, enabling users to gather crucial data about port and water body activities.

These solutions aid vessels in adapting to dynamic sea conditions by monitoring various parameters, empowering users and organizations to make informed operational and strategic decisions. They enhance overall productivity, safety, and efficiency in marine operations. Consequently, they are employed to acquire data on naval vessel ownership, movements, specifications, and commercial activities.

Maritime information solutions play a pivotal role in ensuring the security of nations, making them widely used by governing authorities worldwide. These solutions help countries mitigate maritime threats, including human trafficking, terrorist attacks, environmental damage, and illegal seaborne immigration. The liberalization of global trade has led to a significant increase in the number of ships traversing the oceans, further bolstering the demand for these solutions. Additionally, the International Maritime Organization (IMO) has implemented strict regulations, mandating the deployment of Automatic Identification Systems (AIS) on all vessels to monitor maritime traffic and prevent collisions. Manufacturers are investing in research and development to achieve accurate signal detection from naval vessels.

The publisher's latest report offers an in-depth insight into the global maritime information market, covering macro and micro aspects, recent trends, key drivers, challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, and more. This report is essential reading for entrepreneurs, investors, researchers, consultants, business strategists, and anyone with an interest or stake in the maritime information market.

Key Market Segmentation:

The report provides an analysis of key trends in each sub-segment of the global maritime information market, along with forecasts at the global and regional levels from 2023-2028. The market is categorized based on application and end-user.

Applications:

• Maritime Information Analytics
• Maritime Information Provision
• Vessel Tracking
• AIS (Automatic Identification System)

End-Users:

Government

• Defense
• Intelligence and Security
• Search and Rescue
• Government Agency
• Others

Commercial

• Port Management
• Business Intelligence
• Commercial Fishing
• Commercial Shipping
• Hydrographic and Charting
• Commercial Offshore
• Others

Regions:

• Europe
• North America
• Asia Pacific
• Middle East and Africa
• Latin America

Competitive Landscape:

The report analyzes the competitive landscape of the market, featuring key players such as Inmarsat, L3 Technologies, ORBCOMM, Raytheon Company, Thales Group, exactEarth, Iridium Communications, among others.

Key Questions Answered:

• What was the size of the global maritime information market in 2022?
• What is the expected growth rate of the global maritime information market during 2023-2028?
• How has COVID-19 impacted the global maritime information market?
• What are the key drivers of the global maritime information market?
• What is the market breakup based on application and end-user?
• What are the key regions in the global maritime information market?
• Who are the key players in the global maritime information market?

For more information about this report visit https://www.researchandmarkets.com/r/82re5r

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SOURCE Research and Markets