According to the latest report by IMARC Group, titled “Maritime Information Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global maritime information market size exhibited moderate growth during 2015-2020. Looking forward, the market is expected to grow at a CAGR of around 6% during 2021-2026. Maritime navigation is the process of safely and efficiently planning, managing, and directing the movement of a vessel at sea. It is used across the globe for trade, travel, and security purposes. The digital transformation of marine navigation is helping users gather crucial information regarding the activities in ports and water bodies and assisting vessels in adapting to the dynamic sea conditions by monitoring several parameters for improved operational and strategic decisions. Consequently, maritime information solutions are extensively employed to acquire data about the ownership, movements, specifications, commercial activities, etc., of naval vessels across countries.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Market Trends and Drivers:
The rising utilization of these solutions by government bodies to safeguard national security and combat human trafficking, terrorist attacks, illegal seaborne immigration, environmental destruction, etc., is primarily driving the maritime information market. Additionally, the expanding liberalization of world trade is leading to an increasing number of ships that are traversing the oceans. This, in turn, is further catalyzing the market growth. Besides this, the implementation of stringent laws by the International Maritime Organization (IMO), such as the regulations that make it compulsory for all vessels to be deployed with Automatic Identification System (AIS), for monitoring maritime traffic and avoiding collision with other ships, is augmenting the global market. Moreover, the escalating investments in research and development (R&D) activities by manufacturers to attain accurate signal detection from naval vessels are anticipated to stimulate the maritime information market over the forecasted period.
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Key Market Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- L3 Technologies
- Raytheon Company
- Thales Group
- Iridium Communications
Breakup by Application:
- Maritime Information Analytics
- Maritime Information Provision
- Vessel Tracking
- AIS (Automatic Identification System)
Breakup by End-User:
- Intelligence and Security
- Search and Rescue
- Government Agency
- Port Management
- Business Intelligence
- Commercial Fishing
- Commercial Shipping
- Hydrographic and Charting
- Commercial Offshore
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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