Frequently Asked Questions
The global boat monitoring market was valued at USD 435.1 Million in 2022.
The boat monitoring market is anticipated to grow at a CAGR of 12.9% between 2023 and 2030, reaching USD 1017.29 Million in 2030.
Position & tracking is the leading segment by the monitoring system, holding over 40% share in terms of value in 2022.
The yachts segment governs the demand for boat monitoring worldwide, holding a massive share of over 52% in 2022.
The control system segment will post the highest CAGR in the projected period.
Asia Pacific is fuelling the rapid growth of the boat monitoring industry, with an over one-third share in 2022.
The top players include Azimut-Benetti Group, Groupe Beneteau, GEM Elettronica, and Barnacle Systems. Other major players include Brunswick Corporation, Yamaha, Navis Elektronika, and Yacht Sentinel.
The major market drivers of the boat monitoring industry include increasing maritime safety regulations, growing concerns about vessel security, and the need for effective fleet management and operational efficiency.
The major market restraints of the boat monitoring industry include high implementation and maintenance costs, limited adoption among small-scale boat operators, and privacy concerns related to data monitoring and tracking.
The major market opportunities in the boat monitoring industry are the growing demand for advanced vessel tracking and safety solutions, increasing focus on environmental sustainability in the maritime sector, and the emergence of integrated IoT and AI technologies for enhanced monitoring and operational efficiency.