Research on Connected Ship Market “Estimated to Reach US$ 7.19 Billion by 2023”
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  • Research on Connected Ship Market “Estimated to Reach US$ 7.19 Billion by 2023”

    (Transportation-News.com, December 12, 2018 ) Connected Ship Market is projected to grow from US$ 5.92 Billion in 2018 to US$ 7.19 Billion by 2023, at a CAGR of 3.95% from 2018 to 2023. The key factors fueling the growth of the connected ship market are the incorporation of the Information and Communication Technology (ICT) in the global marine industry, increased budgets of shipping companies for digitalization of their vessels.

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    Top Key Players in the “Connected Ship Market”
    • Northrop Grumman (US)
    • General Electric (US)
    • Wartsila (Finland)
    • Kongsberg Grumman (Norway)
    • Marlink (Norway)

    The connected ship market has been segmented into fleet operations, fleet health monitoring, and vessel traffic management. The fleet health monitoring segment is projected to grow at the highest CAGR from 2018 to 2023.

    The European region is projected to lead the connected ship market from 2018 to 2023. The Europe connected ship market is also projected to grow at the highest CAGR during the forecast period. Although the shipbuilding industry in the region is going through a rough patch at present, the increased demand for autonomous ships and cruises from the region is expected to fuel the growth of the Europe connected ship market.

    Break-up of profiles of primary participants in this report:
    • By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
    • By Designation: C Level – 35%, Director Level – 25%, and Others – 40%
    • By Region: North America –50%, Europe – 30%, Asia Pacific – 15%, and Rest of the World(RoW) – 5%

    The onboard segment of the connected ship market is projected to grow at the highest CAGR from 2018 to 2023. The onboard segment of the market has been further classified into navigation positioning and tracking, automation, communication management systems, and ship information management systems.

    Target Audience
    1 Manufacturers of Navigation Systems
    2 Naval Forces
    3 Suppliers of Ship Systems
    4 Shipbuilders
    5 Technology Support Providers
    6 Solution Providers
    7 Component Suppliers
    8 Maritime Shipping Companies
    9 Research Organizations
    10 Original Equipment Manufacturers (OEMs)

    This research report focuses on various levels of analyses —industry analysis (industry trends), market ranking analysis of the top players, supply chain analysis, and company profiles. These insights together comprise and discuss basic views on the competitive landscape, emerging and high-growth segments of the connected ship market, high-growth regions, and drivers, restraints, opportunities, for the connected ship market.

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    The report provides insights on the following pointers:
    • Market Penetration: Comprehensive information on various connected ship systems offered by the top players of the market
    • Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and new product launches in the connected ship market
    • Market Development: Comprehensive information about lucrative markets – the report analyzes the markets for connected ships across various regions
    • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the connected ship market
    • Competitive Assessment: In-depth assessment of the market shares, strategies, products, and manufacturing capabilities of leading players in the connected ship market


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