Connected Ship Market Size, Share, Forecast Report, 2020-2027

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The report provides rational insights along with historical and forecast data to aid in better understanding of the Global Connected Ship Market. The report provides a comprehensive analysis of key factors that are expected to drive the growth of the Connected Ship market. This study also provides a detailed overview of the opportunities along with the current trends observed in the target market.

The global connected ship market size was valued at USD 6.0 billion in 2019 and is expected to witness a CAGR of 5.4% over the forecast period. Increasing requirement to monitor the operations, functioning, and the voyage path of ships on a centralized platform is a prominent factor anticipated to drive the market for connected ships over the forecast period. The integrated systems used in the connected ships offer numerous benefits such as ship health monitoring, vessel traffic management, and control over the critical ship operations, which can be accessed from a single system. Furthermore, traffic congestions at major canals and need to efficiently manage the port traffic are anticipated to fuel the demand for connected ships over the forecast period.

Transport of goods and materials through sea has traditionally been one of the most affordable means of transit. Ships are designed to carry bulk quantities to distant places at minimum risk and in optimum time period. With ever improving trade relations between countries and increasing export activities, the supply always seems to be less as compared to the demand. To meet these ever-increasing requirements, more vessels are being built and are used as a primary mean of transport.



Increase in number of ships globally has strained the existing traffic management and monitoring and control infrastructure considerably. Furthermore, increasing complexity of ship operations has added up to the problem. To overcome the void, ships are connected to a network that allows easy access to the monitoring and controlling activities to the officials onshore as well as to the crew onboard. Connected ships ensure smooth traffic movement at some of the most congested trade routes, which, in turn, is anticipated to boost market growth over the forecast period.



Increasing number of connected ships and development of new and existing ports in numerous countries is driving the market. Countries such as China have undertaken expansion of port facilities widely across its coastline as well has started constructing ports in the South China Sea. Such newly developed ports need sophisticated infrastructure to manage and monitor the connected ship traffic. As a result, increasing number of ports across each region is further anticipated to fuel the demand for connected ships over the forecast period.

The report covers major players operating in the market along with the key strategies implemented to achieve a competitive edge against a majority of the vendors which provides a competitive outlook of the industry. The competitive landscape further includes details about different players and their position on a global and a local level is also explained in detail in this compiled study. These insights were prepared through mapping business strategies and products that offer high revenue generation capacities. Key players of the global Connected Ship market are included as given below:

The major players included in the study are General Electric, Emerson, Warstila Corporation, Kongsberg, and Schneider Electric. In order to capture/secure a larger market share, key market incumbents are undertaking initiatives and adopting strategies such as entering into partnerships, making investments, engaging in mergers and acquisitions, launching new products and services, and maintaining competitive prices for their products and services.

The global Connected Ship market has been segmented as below:

� Ship Type Outlook (Revenue, USD Million, 2016 - 2027)

� Commercial

� Defense

� Installation Type Outlook (Revenue, USD Million, 2016 - 2027)

� Onboard

� Onshore

� Application Outlook (Revenue, USD Million, 2016 - 2027)

� Vessel traffic management

� Fleet operations

� Fleet health operations

� Regional Outlook (Revenue, USD Million, 2016 - 2027)

� North America

o U.S.

o Canada

� Europe

o U.K.

o Germany

o France

� Asia Pacific

o China

o India

o Japan

� Latin America

o Brazil

o Mexico

� Middle East & Africa

Reasons to Purchase this Report:

Estimates Connected Ship development trends with SWOT analysis

� Detailed business profiles including product offerings, recent developments, key financial information, and strategies employed by main market players

� Analysis of various regions and countries that includes the demand and supply based actions, which consequently have a major influence on the market's expansion

� Market dynamics scenario, along with growth opportunities for players in the years to come

� Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the mentioned forecast period

� Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects