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Global Connected Ship Market to reach USD XX billion by the end of 2029.

Global Connected Ship Market Size study & Forecast, by Ship Type (Commercial, Defense) by Application Type(Vessel Traffic Management, Fleet Operations, Fleet Health Monitoring), by Fit(Line Fit, Retrofit), and Regional Analysis, 2022-2029

Product Code: ICTICTI-43132684
Publish Date: 25-01-2023
Page: 200

Global Connected Ship Market is valued approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Commercial and defense cargo ships are equipped with connected ship technology to transport cargo to moving or stationary seagoing ships. The connected ship market is expanding because of factors such as rising incorporation of ICT in the global marine industry, increased budgets of shipping companies for digitalization of vessels and increase in seaborne trade across the globe. However, digitalization renders connected ships vulnerable to cyber threats may halt market growth

The International Maritime Organization (IMO), a UN agency, pledged in March 2022 to reduce global shipping’s annual greenhouse gas emissions by at least 50% from 2008 levels by 2050. Also, according to the European Commission, European seaborn external freight makes up more than 90%. Additionally, the UK intends to spend USD 5.3 billion on shipbuilding, including purchases of zero-emission boats. In addition, the UK government is signaling significant marine industry expansion in order to restructure its trade links with nations around the world as it prepares to leave the European Union. As a result, increasing investment in Maritime sector, and rising seaborne trade is catering the growth of market. In addition, initiatives for the Development of Connected Autonomous Ships and Adoption of Vessel Traffic Services (VTS) By Shipping Companies is creating a lucrative growth to the market. However, the high cost of Connected Ship and high costs of marine broadband connectivity stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Connected Ship Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe dominated the market share, owing to the rising shipbuilding industry, and the increased demand for autonomous ships and cruises from the region is expected to fuel the growth of the Europe market during the forecast period.

Major market player included in this report are:
Northrop Grumman Corporation
General Electric Co.
Wartsila Corporation
Kongsberg Gruppen ASA
Marlink AS
Synectics Global
Atos SE
Inmarsat plc
Schneider Electric

Recent Developments in the Market:
 In February 2022, Mitsubishi Shipbuilding announced the construction of the World’s first demonstration test ship for the liquefied CO2 transportation. For the long-distance, high-volume LCO2 transport requirements of the future, the ship would incorporate the company’s liquefied gas handling technology.
 In July 2021, , Wärtsilä Voyage announced the completion of an extensive upgrade of Croatian National Vessel Traffic Management & Information System (VTMIS) with a new function called, Sea Traffic Management (STM).
Global Connected Ship Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Ship Type, Application Type, Fit , Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Ship Typeofferings of key players. The detailed segments and sub-segment of the market are explained below:
By Ship Type:
By Application Type:
Vessel Traffic Management
Fleet Operations
Fleet Health Monitoring
By Fit:
Line Fit

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Connected Ship Market, by Region, 2019-2029 (USD Billion)
1.2.2. Connected Ship Market, by Ship Type, 2019-2029 (USD Billion)
1.2.3. Connected Ship Market, by Application Type, 2019-2029 (USD Billion)
1.2.4. Connected Ship Market, by Fit, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Connected Ship Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Connected Ship Market Dynamics
3.1. Connected Ship Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Increasing Incorporation of ICT in Global Marine Industry Increased Budgets of Shipping Companies for Digitalization Of Vessels
3.1.2. Market Challenges High Cost of Connected Ship Digitalization Renders Connected Ships Vulnerable to Cyber Threats
3.1.3. Market Opportunities Increase in seaborne trade across the globe Increasing investment in Maritime sector
Chapter 4. Global Connected Ship Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Investment Adoption Model
4.5. Analyst Recommendation & Conclusion
4.6. Top investment opportunity
4.7. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Connected Ship Market, by Ship Type
6.1. Market Snapshot
6.2. Global Connected Ship Market by Ship Type, Performance – Potential Analysis
6.3. Global Connected Ship Market Estimates & Forecasts by Ship Type 2019-2029 (USD Billion)
6.4. Connected Ship Market, Sub Segment Analysis
6.4.1. Commercial
6.4.2. Defense
Chapter 7. Global Connected Ship Market, by Application Type
7.1. Market Snapshot
7.2. Global Connected Ship Market by Application Type, Performance – Potential Analysis
7.3. Global Connected Ship Market Estimates & Forecasts by Application Type 2019-2029 (USD Billion)
7.4. Connected Ship Market, Sub Segment Analysis
7.4.1. Vessel Traffic Management
7.4.2. Fleet Operations
7.4.3. Fleet Health Monitoring
Chapter 8. Global Connected Ship Market, by Fit
8.1. Market Snapshot
8.2. Global Connected Ship Market by Fit, Performance – Potential Analysis
8.3. Global Connected Ship Market Estimates & Forecasts by Fit 2019-2029 (USD Billion)
8.4. Connected Ship Market, Sub Segment Analysis
8.4.1. Line Fit
8.4.2. Retrofit
Chapter 9. Global Connected Ship Market, Regional Analysis
9.1. Connected Ship Market, Regional Market Snapshot
9.2. North America Connected Ship Market
9.2.1. U.S. Connected Ship Market Ship Type breakdown estimates & forecasts, 2019-2029 Application Type breakdown estimates & forecasts, 2019-2029 Fit breakdown estimates & forecasts, 2019-2029
9.2.2. Canada Connected Ship Market
9.3. Europe Connected Ship Market Snapshot
9.3.1. U.K. Connected Ship Market
9.3.2. Germany Connected Ship Market
9.3.3. France Connected Ship Market
9.3.4. Spain Connected Ship Market
9.3.5. Italy Connected Ship Market
9.3.6. Rest of Europe Connected Ship Market
9.4. Asia-Pacific Connected Ship Market Snapshot
9.4.1. China Connected Ship Market
9.4.2. India Connected Ship Market
9.4.3. Japan Connected Ship Market
9.4.4. Australia Connected Ship Market
9.4.5. South Korea Connected Ship Market
9.4.6. Rest of Asia Pacific Connected Ship Market
9.5. Latin America Connected Ship Market Snapshot
9.5.1. Brazil Connected Ship Market
9.5.2. Mexico Connected Ship Market
9.6. Rest of The World Connected Ship Market

Chapter 10. Competitive Intelligence
10.1. Top Market Strategies
10.2. Company Profiles
10.2.1. Northrop Grumman Corporation Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
10.2.2. General Electric Co.
10.2.3. Wartsila Corporation
10.2.4. Kongsberg Gruppen ASA
10.2.5. Marlink AS
10.2.6. Synectics Global
10.2.7. Atos SE
10.2.8. Inmarsat plc
10.2.9. Siemens
10.2.10. Schneider Electric
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

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Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
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Technological advancements and projected developments in the market
Consumer spending trends and dynamics
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