Technology & Media
Home » Marine Internet Of Things (IoT) Market

Marine Internet Of Things (IoT) Market Growth, Future Prospects & Competitive Analysis, 2018 – 2026

Price: $4999

Published: | Report ID: 8346 | Category: Technology & Media

Market Insights

With the Internet of Things (IoT) gaining rapid traction across the residential, industrial, and healthcare sectors, the maritime industry is set to emerge as the next big application of the concept. According to Ericsson AB, more than 2 billion objects (excluding smartphones) are expected to be connected using cellular technology by 2023. This includes connected vehicles, robotics, agricultural fields and equipment, and shipping containers. IoT in the marine industry is believed to dramatically improve overall transport and logistics, enhance onboard safety, and significantly reduce operational costs. The marine sector is capable of generating a huge amount of data, including weather, voyages, maintenance, the location of assets and machinery, and the status of cargo. Similar to other verticals, marine IoT is based on a network of sensors and connected devices communicating via a satellite network or an onboard 3G/4G LTE network.

Design Element 2

Access crucial information at unmatched prices!

Request your free sample report today & start making informed decisions powered by Credence Research!

CTA Design Element 3

One of the most prominent factors expected to drive the marine IoT market’s growth is the rapidly growing adoption of IoT across different verticals. Various industry verticals (including industrial manufacturing, healthcare, and transportation), as well as companies, are inclined towards adopting IoT solutions with the aim of boosting their productivity and convenience. For instance, in September 2017, NYK Group announced it would enter into a partnership with Norway-based digital platform vendor Dualog SA to develop an IoT platform for ships. The two companies, in collaboration with NTT Group, are focused on collecting data from a network of sensors and monitoring equipment onboard vessels for further enhancing operations. Similarly, in October 2017, a consortium of companies, including ExactEarth Europe Ltd., Pole Star Space Applications, U.K. Satellite Applications Catapult, OceanWise, and TeamSurv, completed the demonstration of a new maritime IoT platform. The consortium was led by ExactEarth Europe Ltd.

Another prominent factor contributing to market growth is the significant fuel savings offered by using IoT solutions for route optimization. Marine IoT enables live tracking of a ship with minimal errors as compared to conventional high-frequency radio communication and transmits the same to other ships as well as offshore offices. This helps optimize speed and reduce unnecessary longer routes, thereby achieving optimum fuel efficiency. As fuel contributes to the largest share of a ship’s total operating costs (over 2/3 of them), marine IoT is expected to witness robust adoption for route optimization applications.

Shape Your Report to Specific Countries or Regions & Enjoy 30% Off!

The global marine IoT market is segmented on the following basis:

Component:

  • Sensing Devices
  • Network Connectivity
  • I.T. Solutions & Services
  • IoT Platforms

Applications:

  • Asset Tracking
  • Route and Operation Optimization
  • Equipment Monitoring

Vessel Type:

  • Cargo Vessels
  • Passenger Vessels
  • Naval Vessels
  • Vessels for Special Purpose

Geography:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • Italy
    • U.K.
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • India
    • China
    • Japan
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East and Africa

Key players identified in the marine IoT market include but are not limited to:

Cisco Systems, Inc., NTT Group, Accenture Plc., Ericsson AB, Vodafone Group Plc. (in partnership with Siren Marine, LLC), Wartsila Oyj Abp., Dualog AS, Wilhelmsen Holding ASA, Orange Business Services, and several others. One of the major strategies observed in the market is focusing on providing customized IoT solutions to shipping companies. This is primarily due to the varied requirements of operation management and asset tracking across cargo ships, passenger ships, naval vessels, and special-purpose vessels.

Frequently Asked Questions

What is the size of Marine Internet Of Things (IoT) Market?

The market for Marine Internet Of Things (IoT) Market is expected to reach Us$ XX Bn By 2026.

What is the Marine Internet Of Things (IoT) Market CAGR?

The Marine Internet Of Things (IoT) Market is expected to see significant CAGR growth over the coming years, at XX%.

What is the Forecast period considered for Marine Internet Of Things (IoT) Market?

The report is forecasted from 2018-2026.

What is the base year considered for Marine Internet Of Things (IoT) Market?

The base year of this report is 2017.

Who are the major players in this market?

Cisco Systems, Inc., NTT Group, Accenture Plc., Ericsson AB, Vodafone Group Plc. (in partnership with Siren Marine, LLC), Wartsila Oyj Abp., Dualog AS, Wilhelmsen Holding ASA, are some of the major players in the global market.

Technology & Media

Electronic Bill Presentment and Payment (EBPP) Market

Published:
Report ID: 12302

Technology & Media

Vietnam Augmented Reality and Virtual Reality Market

Published:
Report ID: 30535

Technology & Media

Commercial Drone Market

Published:
Report ID: 23404

Technology & Media

Ballast Water Treatment Systems Market

Published:
Report ID: 22886

Technology & Media

Container Fleet Market

Published:
Report ID: 4261

Technology & Media

Multichannel Order Management (M.O.M) Market

Published:
Report ID: 22759

Technology & Media

Spine Surgery Robots Market

Published:
Report ID: 22650

Technology & Media

Micro Irrigation Systems Market

Published:
Report ID: 8177

Technology & Media

Drip Irrigation Systems Market

Published:
Report ID: 5511

Technology & Media

Indian Mobile Components Manufacturing and Assembly Market

Published:
Report ID: 21807

Technology & Media

Electrical Conduit Systems Market

Published:
Report ID: 5641

Technology & Media

Machine Vision And Inspection System Market

Published:
Report ID: 7834

Purchase Options

Buy With Trust, Competitive Pricing - In-depth Analysis

$2999

Delivery Format: Excel.

$4999

Designed for the individual purchaser.

$6999

Users located at a single corporate site or regional office.

$9999

Allowed for unlimited sharing globally within one company.


Still Not Sure?

Have a question?

User Profile

Don’t settle for less – trust Mitul to help you find the best solution.

Report delivery within 24 to 48 hours

– Other Info –

What people say?-

User Review

I am very impressed with the information in this report. The author clearly did their research when they came up with this product and it has already given me a lot of ideas.

Jana Schmidt
CEDAR CX Technologies

– Connect with us –

Phone

+91 6232 49 3207


support

24/7 Research Support


sales@credenceresearch.com

– Research Methodology –

Going beyond the basics: advanced techniques in research methodology

– Trusted By –

Pepshi, LG, Nestle
Motorola, Honeywell, Johnson and johnson
LG Chem, SIEMENS, Pfizer
Unilever, Samsonite, QIAGEN
WhatsApp Now