Dublin, Feb. 13, 2025 (GLOBE NEWSWIRE) — The “Connected Ship Market Report 2025” has been added to ResearchAndMarkets.com’s offering.
The connected ship market size has grown strongly in recent years. It will grow from $7.3 billion in 2024 to $7.74 billion in 2025 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to globalization of trade, navigation and communication advancements, maritime safety regulations, development of satellite communication, integration of automated systems in shipping. Asia-Pacific was the largest region in the connected ship market in 2024.
The connected ship market size is expected to see strong growth in the next few years. It will grow to $10.28 billion in 2029 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to increased automation and digitalization of ships, growing demand for eco-friendly and sustainable shipping, adoption of alternative fuels and propulsion systems, expansion of the global shipping network, development of autonomous ships. Major trends in the forecast period include smart shipping solutions, integration of blockchain in maritime operations, remote monitoring and diagnostics, autonomous and unmanned vessels, environmental monitoring and compliance systems.
The increase in seaborne trade is anticipated to drive the growth of the connected ship market in the coming years. For example, in July 2024, the International Energy Agency, a Paris-based autonomous intergovernmental organization, reported that seaborne trade reached approximately 1.38 billion tonnes in 2023, with total trade slightly exceeding 1.5 billion tonnes, marking historical highs. As a result, the surge in seaborne trade is propelling the expansion of the connected ship market.
Growing marine traffic is expected to propel the growth of the connected ships market going forward. For instance, in January 2023, according to BigOceanData, a pioneer of the ship tracking industry, Global marine traffic has increased with container ships spending 13.7% longer in port. Therefore, growing marine traffic is driving the growth of the connected ships market.
Digital transformation in marine has emerged as the key trend gaining popularity in the connected ship market. For instance, in March 2022, MSC, an Italy-based shipping company, launched hybrid network solutions and advanced secure IT management. Cyber detection services fully protect this hybrid network solution. The service scans outbound and inbound network traffic to detect targeted cyber threats in real-time and takes immediate steps to correct incidents.
Major companies operating in the connected ship market are focusing on strategic investments to strengthen their position in the market. For instance, in October 2023, PSA Marine, a Singapore-based leader in the maritime sector, has built a fleet monitoring centre in Singapore, Fleet Data-To-Knowledge (D2K) Centre, to monitor its harbour tug fleet and uses simulators to train its marine crew there. Using digitalisation technologies and wall-length screens, PSA Marine observes harbour tug positioning, operations, fuel consumption and machinery health while managing the scheduling and deployment of its tugs inhouse. It can visualise the location of the fleet around Singapore port waters using Automatic Identification System (AIS) data, and monitors transit times, speed and fuel consumption on the modern tugs to help tug masters to optimise operations and improve efficiency.
In December 2023, Wilh. Wilhelmsen Holding ASA, a Norway-based shipping company, acquired ZEABORN Ship Management GmbH & Cie. KG for an undisclosed amount. This acquisition aims to strategically enhance the market presence of Wilhelmsen and MPC Capital’s ship management by significantly expanding their operational capacity and client base, allowing them to provide high-quality services to a fleet of over 150 vessels. ZEABORN Ship Management GmbH & Cie. KG is a Germany-based third-party ship management company that manages vessels for its clients and offers connected ship services.
Research Scope
Markets Covered:
1) By Type: Commercial; Defense; Other Types
2) By Fit: Linefit; Retrofit
3) By Installation Type: Onboard; Onshore
4) By Application: Vessel Traffic Management; Fleet Operations; Fleet Health Monitoring; Other Applications
Subsegments:
1) By Commercial: Cargo Ships; Tankers; Passenger Ships; Fishing Vessels
2) By Defense: Naval Ships; Submarines; Coast Guard Vessels
3) By Other Types: Research Vessels; Leisure Boats; Tugs And Barges
Key Companies Profiled: ABB Corporation; General Electric Company; Emerson Electric Co.; Schneider Electric SE; Hyundai Heavy Industries Co. Ltd.
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2025-2029 |
| Estimated Market Value (USD) in 2025 | $7.74 Billion |
| Forecasted Market Value (USD) by 2029 | $10.28 Billion |
| Compound Annual Growth Rate | 7.4% |
| Regions Covered | Global |
Companies Featured in this Connected Ship Market Report
- ABB Corporation
- General Electric Company
- Emerson Electric Co.
- Schneider Electric SE
- Hyundai Heavy Industries Co. Ltd.
- Kongsberg Gruppen ASA
- Rockwell Automation Inc.
- Valmet Corporation
- Wartsila Oyj Abp
- Marlink AS
- Northrop Grumman Corporation
- RH Marine Group
- Siemens Aktiengesellschaft
- Ulstein Group ASA
- Thales Group
- Furuno Electric Co. Ltd.
- Navico Holding AS
- Inmarsat plc
- Telefonaktiebolaget LM Ericsson
- Intelsat Corporation
- Harris Corporation
- Iridium Communications Inc.
- KVH Industries Inc.
- Raytheon Anschutz GmbH
- Sperry Marine BV
- Transas Marine International AB
- Cobham Satcom A/S
- GNS GmbH
For more information about this report visit https://www.researchandmarkets.com/r/ut99ca
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