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Connected Ship Market Trends

  • Report ID: GMI8640
  • Published Date: Mar 2024
  • Report Format: PDF

Connected Ship Market Trends

Optimizing connectivity for diverse maritime applications fosters lucrative growth in the connected ship industry. Enhanced connectivity enables efficient safety communications, bridge operations, crew welfare, and IoT features such as engine monitoring & remote diagnostics. This facilitates real-time data exchange and decision-making, improving operational efficiency and safety. For instance, in September 2022, Intellian Technologies introduced the Iridium Certus C200 Maritime terminal, a compact and lightweight version complementing the prominent C700. It enhances safety, bridge & crew welfare communications and connected ship IoT capabilities such as engine monitoring. The terminal facilitates situational awareness, reporting at a reduced scale, and optimizing connectivity for various maritime applications.

The increasing adoption of IoT in connected ship solutions is propelling growth in the connected ship market. IoT technology enables the integration of sensors and devices onboard vessels, facilitating real-time monitoring of critical systems and equipment. This data-driven approach enhances operational efficiency, enables predictive maintenance, and improves decision-making. As maritime companies recognize the value of IoT-enabled solutions in optimizing vessel performance and reducing downtime, the demand for connected ship technologies continues to rise, driving market expansion.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of connected ship reached USD 6.8 billion in 2023 and is set to witness over 5% CAGR from 2024 to 2032, due to increasing investments in optimizing capacity, routes, and procurement.

The onboard installation type segment accounted for over 60% of the market share in 2023 and is set to exceed USD 6 billion by 2032, led by pivotal role in enhancing operational efficiency for maritime operations.

The vessel traffic management application segment recorded 33% of the market share in 2023, driven by the increasing demand for optimizing routes and vessel speed based on real-time weather data.

Asia Pacific recorded 37% of the market share in 2023, led by the swift pace of advancements, particularly in communication technologies.

Connected Ship Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 22
  • Tables & Figures: 300
  • Countries covered: 21
  • Pages: 250
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