Marine Electronics Market to Grow by USD 1.82 Billion from 2025-2029, Driven by Rising GPS Adoption, Report on How AI is Redefining Market Landscape - Technavio

NEW YORK, Feb. 11, 2025 /PRNewswire/ -- Report with market evolution powered by AI - The marine electronics market and it is set to grow by USD 1.82 billion from 2025 to 2029. However, the growth momentum will progressing at a CAGR of over 5.3% during the forecast period, according to Technavio. The marine electronics market is fragmented, and the vendors are seeking strong partnerships with automotive, industrial, and commercial companies to compete in the market.  Adrie Marine Electronics Solutions Pvt. Ltd., Elcome International LLC, Furuno Electric Co. Ltd., Garmin Ltd., Icom America Inc., Japan Radio Co. Ltd., Johnson Outdoors Inc., Kongsberg Gruppen ASA, Kraken Robotics Inc., Marine Electronics, Navico, Neptune Sonar Ltd., Northrop Grumman Corp., R2SONIC Inc., Raymarine, Sound Metrics Corp., SRT Marine Systems Plc, Teledyne Technologies Inc., thyssenkrupp AG, and Ultra Electronics Holdings Plc are some of the major market participants -. To know about the vendor offerings - Request a sample report

Marine Electronics Market 2025-2029: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The marine electronics market report covers the following areas:

• Marine Electronics Market Size
• Marine Electronics Market Trends
• Marine Electronics Market Industry Analysis
• Porter's Five Forces Analysis
• Customer Landscape

The marine electronics market is fragmented, and the degree of fragmentation will accelerate. The increase in adoption of gps systems will offer immense growth opportunities. However, the High cost associated with sonar systems will hamper the market growth

Marine Electronics Market 2025-2029: Drivers & Challenges

The Marine Electronics Market is experiencing significant growth due to the increasing demand for advanced technologies in various applications. Radar displays and navigation applications are key drivers, ensuring safe navigation and vessel control in extreme weather conditions and environmental condensation. VHF radio systems enable effective communication, while power generation and fire alarm systems ensure safety and efficiency. Vessel control applications, underwater drones, and fishing industry applications are also fueling market growth. Ocean surveillance, ice navigation, and ice management systems are essential for military and naval vessels, as well as work boats. Multi-functional control and monitoring systems, including GPS systems, are vital for ships and rescue operations. Satellite transmission and ship tracking systems facilitate real-time information and communication. SONAR systems, cold storage systems, and sensors are essential components of marine electronics, catering to the needs of naval forces, luxury yachts, and commercial vessels. Overall, the Marine Electronics Market is a dynamic and growing industry, driven by the demand for advanced technologies and innovative solutions.

The Marine Electronics Market encompasses various segments, including recreational boats, merchant vessels, and fishing vessels. Recreational boats require electronics for navigation, automation, and entertainment, such as TVs, VHF radios, autopilots, depth sounders, GPS devices, chart plotters, and fish finders. Commercial shipping relies on advanced electronics for navigation, vessel management systems, real-time data, and satellite communication systems. Fishing vessels utilize fishing software and sonar technology. Challenges include wiring, calibration, and waterproofing for saltwater and brackish water environments. Power consumption, emission control systems, and water corrosion resistance are also critical factors. The leisure boating sector, tourism, and outdoor recreational activities drive market growth. Irregular waves and natural gas, minerals, and international trade are additional applications. Marine electronics must meet stringent requirements for diesel engines, engines, and container ships. Video displays, radars, and satellite communication systems are essential for enhancing safety and efficiency.

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Segment Overview 

This marine electronics market report extensively covers market segmentation by  

• Component
• Hardware
• Software
• Product
• Sonar Systems
• Radars
• GPS Tracking Devices
• Geography
• North America
• APAC
• Europe
• South America
• Middle East And Africa

1.1 Hardware- The marine electronics market encompasses various hardware components, including marine electrical scanners, fish finders/SONAR modules, thermal and visible cameras, marine VHF communication devices, audio/video equipment, marine autopilots, autonomous identification systems, analog and digital communication displays, and satellite TVs. The largest component segment is expected to remain hardware, driven by the increasing adoption of GPS systems in marine vessels and advanced electronic hardware applications. The market's growth is fueled by the armed forces' expanding naval presence due to new ship and submarine purchases and upgrades. Additionally, marine trade, oil and gas development, dredging, and fishing activities contribute to the market's expansion. Countries relying on conventional fish finders are projected to significantly boost their demand for advanced sonar systems during the forecast period. Technological advancements are expected to encourage nations to invest in state-of-the-art sonar systems for their naval fleets, further driving the growth of the hardware component segment in the marine electronics market.

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Marine Electronics Market 2025-2029: Key Highlights

• CAGR of the market during the forecast period 2025-2029
• Detailed information on factors that will assist marine electronics market growth during the next five years
• Estimation of the marine electronics market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the marine electronics market across North America, APAC, Europe, South America, and Middle East and Africa
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of marine electronics market vendors

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio