The Business Research Company's Marine Internet Of Things Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034
What is the Expected Growth Rate of the Marine Internet Of Things Market?
The marine Internet of Things market size is on an upward trajectory for expansion. It is anticipated to escalate to $13.96 billion in 2029 at a compound annual growth rate CAGR of 16.2%. The growth propelling variables in the forecast period include rising demand for smart ports, expansion of global trade, growing implementation of AI, increasing defense expenditure, and rising digitalization. On the radar are major trends such as technological advancements in IoT, a shift towards autonomous shipping, advancements in smart port solutions, advancements in hybrid propulsion technology, and the integration of quantum computing.
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What are the Key Drivers Propelling Growth in the Marine Internet Of Things Market?
Seaborne trade expansion is the fundamental driver for the growth of the marine internet of things market. It is an economical means of transportation, facilitating shipment of large volumes at a lower rate compared to air or land transport. Marine internet of things IoT enhances seaborne trade by refining vessel operations, amplifying cargo tracking, and enabling real-time data analytics. This leads to improved efficiency, reduction in costs, and enhanced safety in maritime logistics. Notably, the United Nations Trade and Development reported that global maritime trade grew by 2.4% to 12.3 billion tonnes in 2023 compared to the previous year, implying an upsurge in seaborne trade which is propelling the growth of the marine internet of things market.
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Who are the Major Players in the Marine Internet Of Things Market?
Key industry players operating in the marine internet of things market include Nippon Telegraph and Telephone Corporation, Siemens AG, Accenture plc, International Business Machines Corporation, Vodafone Group Plc, Cisco Systems Inc., Oracle Corporation, SAP SE, Hewlett Packard Enterprise Company, Telefonaktiebolaget LM Ericsson, Orange Business Services, Wärtsilä Corporation, Wilh. Wilhelmsen Holding ASA, Inmarsat Group Holdings Limited, ST Engineering iDirect Inc., Sigfox SAS, ThinkPalm Technologies Private Limited, Futurism Technologies Inc., Dualog AS, DROAM B.V.
What are the Latest Trends in the Marine Internet Of Things Market?
Innovation is key in the marine internet of things market. Major companies are developing innovative solutions such as cloud-based solutions to enhance vessel connectivity, optimize operations, and improve maritime safety. An exhibition of this is Eco Marine Power Co. Ltd., a Japan-based technology company, in partnership with Surfwave Inc., a US-based logistics company introduced SurfGate IoT gateway, a cloud communication and power-saving IoT gateway. This innovative product is designed for maritime applications, enabling seamless sensor and actuator integration with multiple connectivity options, ensuring efficient data transfer and automation.
How is the Marine Internet Of Things Market Segmented?
The market is segmented as follows:
By Component:
- Sensing Devices
- Network Connectivity
- Internet Of Things Platforms
- Information Technology IT Solutions And Services
By Ship Type:
- Commercial
- Defence
By Application:
- Vessel Tracking
- Predictive Maintenance
- Cargo Monitoring
- Navigation and Route Optimization
- Environmental Monitoring
The subsegments include:
By Sensing Devices:
- Environmental Sensors
- Structural Monitoring Sensors
- Navigation Sensors
- Safety And Security Sensors
By Network Connectivity:
- Satellite Communication GEO, LEO
- Cellular Networks 4G Or 5G
- Radio Frequency RF Communication VHF Or HF
- Underwater Acoustic Communication
By Internet Of Things Platforms:
- Device Management Platforms
- Data Analytics Platforms
- Cloud-Based IoT Platforms
- Edge Computing Platforms
By Information Technology IT Solutions And Services:
- System Integration and Consulting Services
- Managed IT and Connectivity Services
- Cybersecurity and Data Protection Services
- Software Solutions and Application Development
What are the Regional Insights of the Marine Internet Of Things Market?
North America was the largest region in the marine internet of things market in 2024. Asia-Pacific, however, is expected to be the fastest-growing region in the forecast period. The regions covered in the marine internet of things market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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