The global maritime information market is expected to grow at a significant CAGR during the forecast period (2024-2031). The major factors propelling the growth of the global maritime information market include the benefits offered by maritime information such as reduction in terrorist attacks, human trafficking, environmental destruction, and illegal seaborne immigration. Additionally, the stringent government regulations regarding maritime safety will propel the growth of the market. The International Maritime Organization (IMO) has issued strict regulations requiring all ships to be equipped with an Automatic Identification System (AIS) to monitor maritime activity and minimize collisions with other boats.
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By monitoring multiple aspects, maritime information solutions aid ships in adjusting to changing sea conditions, allowing users and organizations to make better operational and strategic choices. However, they’re linked to benefits like increasing overall productivity and safety, as well as assuring efficiency in marine operations. As a result, these solutions are being used to collect information regarding naval vessel ownership, movements, specifications, and commercial operations.
The major players contributing to the growth of the global maritime information market by adopting various strategies such as product launches & developments, mergers and acquisitions, partnerships, and agreements, include Windward Limited, exactEarth Ltd., SAAB Group, Thales Group, ORBCOMM Inc., among others. For instance, in July 2019, Jeddah Maritime Information Sharing Center (JMISC) was established by Saudi Border Guards to enhance maritime security. JMISC is a regional centre for the collection, exchange, and analysis of data.
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Market Coverage
- Segment Covered-
o By Platform
o By Application
o By End-User
- Competitive Landscape- Windward Limited, exactEarth Ltd., SAAB Group, Thales Group, ORBCOMM Inc., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Maritime Information Market by Segments
By Platform
- On-shore
- Vessel
By Application
- Fleet Management
- Vessel Tracking
- Maritime Security
By End-User
- Government
- Defense
- Commercial
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