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Global Marine Telematics Market to reach USD 53.45 Million by the end of 2029.

Global Marine Telematics Market Size study & Forecast, by Component [Hardware, Software), by Service (Safety & security, Information & navigation, Entertainment, and Diagnostics) and by Application (Commercial, Passenger, and Defense) and Regional Analysis, 2022-2029

Product Code: ALTAWT-45857044
Publish Date: 13-05-2023
Page: 200

Global Marine Telematics Market is valued at approximately USD 11.40 million in 2021 and is anticipated to grow with a healthy growth rate of more than 21.3 % over the forecast period 2022-2029. The primary purpose of marine telematics systems is to record data about vessels and transmit, process, and store the information using telecommunications equipment to enhance operations. Ships can be monitored and controlled with this technology. The boating, shipping, recreational, and commercial fishing industries all make use of marine telematics solutions. Utilizing wireless voice and data communication systems, which offer capabilities such as vessel tracking, emergency help warning notification, system monitoring, stolen vehicle recovery, and others, is a key component of this process. The increasing demand for specialized ships and boats and the growing expansion of cross-border trade in post-pandemic era are key factors driving the market growth.

The increasing demand for specialized ships and boats is contributing towards the growth of the Global Marine Telematics Market, as these telematics devices are being used in marine transportation for gathering information on a vessel’s position, real fuel consumption, and engine operation hours in different work modes. For instance – as per the United Nations Conference on Trade and Development (UNCTAD)’s Review of Maritime Transport 2021 report – in 2020, the worldwide vessel fleet carrying capacity was estimated at 2071638 thousand dead-weight tons, which further reached to 2134640 thousand dead-weight tons in 2021, witnessing the change of over 3.04 percentage. Additionally, the global fleet’s carrying capacity increased by 63 million dwt to 2.2 billion dwt in January 2022. Also, growing automation in marine transportation and stringent maritime safety norms would create a lucrative growth prospectus for the market over the forecast period. However, high deployment cost and lack of uninterrupted & seamless internet connectivity hinder the market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Marine Telematics Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the dominance of the shipbuilding industry as well as the increasing number of container ship transportation in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as the rising expansion of inland waterways as well as the growing number of cross-border free trade agreements being signed between countries in the region.

Major market player included in this report are:
AST Marine Sciences Limited
Boat Command
Sentinel Marine Solutions
ki2 Infotech
Navis Technologies

Recent Developments in the Market:
Ø In September 2020, Ericsson received a contract from Taiwan-based bulk carrier, U-Ming Marine Transport Corporation (U-MING), for the digitalization of the latter’s marine transportation fleet through intelligent Internet of Things (IoT) connectivity. Moreover, Professionals at the U-MING Activities Center will be able to keep an eye on the fleet’s operations while it is at sea in almost real-time due to the new fleet performance management platform (FPM). This will make it possible to move more quickly to increase fleet efficiency and hit key performance indicator goals, such as lowering carbon footprints.

Ø In September 2021, At the International Boat Builders Exhibition & Conference (IBEX), Honda Marine unveils HondaLink® Marine. HondaLink® Marine is a new, integrated smartphone application that uses long-term evolution (LTE) and satellite data to give owners full, remote monitoring capability and ownership information for boats whenever and wherever they are.

Global Marine Telematics 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 Component, Service, Application, 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 product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Component
By Service
Safety & security
information & navigation
By Application

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 Million)
1.2.1. Marine Telematics Market, by Region, 2019-2029 (USD Million)
1.2.2. Marine Telematics Market, by Component, 2019-2029 (USD Million)
1.2.3. Marine Telematics Market, by Service, 2019-2029 (USD Million)
1.2.4. Marine Telematics Market, by Application, 2019-2029 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Marine Telematics 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 Marine Telematics Market Dynamics
3.1. Marine Telematics Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Increasing demand for specialized ships and boats Growing expansion of cross border trade in post pandemic era
3.1.2. Market Challenges High deployment cost and lack of uninterrupted & seamless internet connectivity
3.1.3. Market Opportunities Growing automation in marine transportation Stringent maritime safety norms
Chapter 4. Global Marine Telematics 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. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
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 Marine Telematics Market, by Component
6.1. Market Snapshot
6.2. Global Marine Telematics Market by Component, Performance – Potential Analysis
6.3. Global Marine Telematics Market Estimates & Forecasts by Component 2019-2029 (USD Million)
6.4. Marine Telematics Market, Sub Segment Analysis
6.4.1. Hardware
6.4.2. Software
Chapter 7. Global Marine Telematics Market, by Service
7.1. Market Snapshot
7.2. Global Marine Telematics Market by Service, Performance – Potential Analysis
7.3. Global Marine Telematics Market Estimates & Forecasts by Service 2019-2029 (USD Million)
7.4. Marine Telematics Market, Sub Segment Analysis
7.4.1. Safety & security
7.4.2. Information & navigation
7.4.3. Entertainment
7.4.4. diagnostics
Chapter 8. Global Marine Telematics Market, by Application
8.1. Market Snapshot
8.2. Global Marine Telematics Market by Application, Performance – Potential Analysis
8.3. Global Marine Telematics Market Estimates & Forecasts by Application 2019-2029 (USD Million)
8.4. Marine Telematics Market, Sub Segment Analysis
8.4.1. Commercial
8.4.2. Passenger
8.4.3. Defense
Chapter 9. Global Marine Telematics Market, Regional Analysis
9.1. Marine Telematics Market, Regional Market Snapshot
9.2. North America Marine Telematics Market
9.2.1. U.S. Marine Telematics Market Component breakdown estimates & forecasts, 2019-2029 Service breakdown estimates & forecasts, 2019-2029 Application breakdown estimates & forecasts, 2019-2029
9.2.2. Canada Marine Telematics Market
9.3. Europe Marine Telematics Market Snapshot
9.3.1. U.K. Marine Telematics Market
9.3.2. Germany Marine Telematics Market
9.3.3. France Marine Telematics Market
9.3.4. Spain Marine Telematics Market
9.3.5. Italy Marine Telematics Market
9.3.6. Rest of Europe Marine Telematics Market
9.4. Asia-Pacific Marine Telematics Market Snapshot
9.4.1. China Marine Telematics Market
9.4.2. India Marine Telematics Market
9.4.3. Japan Marine Telematics Market
9.4.4. Australia Marine Telematics Market
9.4.5. South Korea Marine Telematics Market
9.4.6. Rest of Asia Pacific Marine Telematics Market
9.5. Latin America Marine Telematics Market Snapshot
9.5.1. Brazil Marine Telematics Market
9.5.2. Mexico Marine Telematics Market
9.5.3. Rest of Latin America Marine Telematics Market
9.6. Rest of The World Marine Telematics Market

Chapter 10. Competitive Intelligence
10.1. Top Market Strategies
10.2. Company Profiles
10.2.1. Technoton Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
10.2.2. AST Marine Sciences Limited
10.2.3. Boat Command
10.2.4. Sentinel Marine solutions
10.2.5. Navis
10.2.6. Cybernetica
10.2.7. ki2 Infotech
10.2.8. Navis Technologies
10.2.9. Traxens
10.2.10. Metocean
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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