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Connected Ship Trends and Forecast
The future of the global connected ship market looks promising with opportunities in the vessel traffic management, fleet health monitoring, and fleet operation markets. The global connected ship market is expected to reach an estimated $13.6 billion by 2030 with a CAGR of 7.4% from 2024 to 2030. The major drivers for this market are rise in global seaborne trade, increasing adoption of digitization in the shipping industry, and significantly growing maritime tourism industry.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Connected Ship by Segment
The study includes a forecast for the global connected ship by installation, fit, platform, application, and region.
Connected Ship Market by Installation [Shipment Analysis by Value from 2018 to 2030]:
• Onboard
• Onshore
Connected Ship Market by Fit [Shipment Analysis by Value from 2018 to 2030]:
• Line Fit
• Retrofit
• Hybrid Fit
Connected Ship Market by Platform [Shipment Analysis by Value from 2018 to 2030]:
• Ship
• Port
Connected Ship Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Vessel Traffic Management
• Fleet Health Monitoring
• Fleet Operation
• Others
Connected Ship Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Connected Ship Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies connected ship companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the connected ship companies profiled in this report include-
• Abb
• Emerson Electric
• Wartsila
• Kongsberg Gruppen
• Thales
Connected Ship Market Insights
Lucintel forecasts that onboard will remain the larger market over the forecast period as it enables connectivity, data exchange, automation, and efficient operations.
Within this market, fleet operation will remain the largest segment due to growth in need in the maritime industry and increasing adoption of advanced technological solutions.
APAC is expected to witness highest growth over the forecast period due to high demand of advanced vessels and advancements in maritime in this region.
Features of the Global Connected Ship Market
Market Size Estimates: Connected ship market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Connected ship market size by various segments, such as by installation, fit, platform, application, and region in terms of value ($B).
Regional Analysis: Connected ship market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different installation, fit, platforms, applications, and regions for the connected ship market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the connected ship market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the connected ship market size?
Answer: The global connected ship market is expected to reach an estimated $13.6 billion by 2030.
Q2. What is the growth forecast for connected ship market?
Answer: The global connected ship market is expected to grow with a CAGR of 7.4% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the connected ship market?
Answer: The major drivers for this market are rise in global seaborne trade, increasing adoption of digitization in the shipping industry, and significantly growing maritime tourism industry.
Q4. What are the major segments for connected ship market?
Answer: The future of the connected ship market looks promising with opportunities in the vessel traffic management, fleet health monitoring, and fleet operation markets.
Q5. Who are the key connected ship market companies?
Answer: Some of the key connected ship companies are as follows:
• Abb
• Emerson Electric
• Wartsila
• Kongsberg Gruppen
• Thales
Q6. Which connected ship market segment will be the largest in future?
Answer: Lucintel forecasts that onboard will remain the larger market over the forecast period as it enables connectivity, data exchange, automation, and efficient operations.
Q7. In connected ship market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period due to high demand of advanced vessels and advancements in maritime in this region.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the connected ship market by installation (onboard and onshore), fit (line fit, retrofit, and hybrid fit), platform (ship and port), application (vessel traffic management, fleet health monitoring, fleet operation, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Connected Ship Market, Connected Ship Market Size, Connected Ship Market Growth, Connected Ship Market Analysis, Connected Ship Market Report, Connected Ship Market Share, Connected Ship Market Trends, Connected Ship Market Forecast, Connected Ship Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Connected Ship Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Connected Ship Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Connected Ship Market by Installation
3.3.1: Onboard
3.3.2: Onshore
3.4: Global Connected Ship Market by Fit
3.4.1: Line fit
3.4.2: Retrofit
3.4.3: Hybrid fit
3.5: Global Connected Ship Market by Platform
3.5.1: Ship
3.5.2: Port
3.6: Global Connected Ship Market by Application
3.6.1: Vessel Traffic Management
3.6.2: Fleet Health Monitoring
3.6.3: Fleet Operation
3.6.4: Others
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Connected Ship Market by Region
4.2: North American Connected Ship Market
4.2.2: North American Connected Ship Market by Application: Vessel Traffic Management, Fleet Health Monitoring, Fleet Operation, and Others
4.3: European Connected Ship Market
4.3.1: European Connected Ship Market by Installation: Onboard and Onshore
4.3.2: European Connected Ship Market by Application: Vessel Traffic Management, Fleet Health Monitoring, Fleet Operation, and Others
4.4: APAC Connected Ship Market
4.4.1: APAC Connected Ship Market by Installation: Onboard and Onshore
4.4.2: APAC Connected Ship Market by Application: Vessel Traffic Management, Fleet Health Monitoring, Fleet Operation, and Others
4.5: ROW Connected Ship Market
4.5.1: ROW Connected Ship Market by Installation: Onboard and Onshore
4.5.2: ROW Connected Ship Market by Application: Vessel Traffic Management, Fleet Health Monitoring, Fleet Operation, and Others
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Connected Ship Market by Installation
6.1.2: Growth Opportunities for the Global Connected Ship Market by Fit
6.1.3: Growth Opportunities for the Global Connected Ship Market by Platform
6.1.4: Growth Opportunities for the Global Connected Ship Market by Application
6.1.5: Growth Opportunities for the Global Connected Ship Market by Region
6.2: Emerging Trends in the Global Connected Ship Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Connected Ship Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Connected Ship Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: ABB
7.2: Emerson Electric
7.3: Wartsila
7.4: Kongsberg Gruppen
7.5: Thales
.
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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