The latest report by IMARC Group, titled “Marine Telematics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. The global marine telematics market size reached US$ 13.71 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 41.76 Million by 2028, exhibiting a growth rate (CAGR) of 20.60% during 2023-2028.
Marine telematics refers to advanced systems used in water vessels to record, process, store, and transmit data through telecommunication devices. It includes software solutions and hardware devices installed on ships to control and track marine vessels. The technology relies on wireless communication systems for functions like vessel tracking, emergency aid notifications, system monitoring, and stolen vehicle recovery. It provides real-time data, such as GPS position, speed, and fuel consumption, which is processed at the data center. Marine telematics also communicates updated information like water temperature, pollutants, fuel levels, and equipment status to authorities. This data can be accessed through mobile applications or internet tracking software, making it valuable in boating, shipping, recreational fishing, and commercial fishing industries.
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Marine Telematics Market Trends and Drivers:
The market for marine telematics is driven by the increasing number of container ship transportation and international sea trade activities, which require tracking features for operational safety. Strict marine safety regulations imposed by governing authorities further boost demand. Additionally, the need for vessel monitoring, fuel management, and vehicle diagnoses contributes to the adoption of marine telematics. Automation in the maritime transportation sector and a focus on driver and vessel safety are also driving market growth. Fleet safety and security in commercial vessel transportation, along with the ability to send SOS messages with vessel coordinates during accidents, are critical factors. Innovative marine telematics systems integrated with technologies like AI, IoT, advanced navigation systems, and GPS enhance ship operations and find applications in entertainment, automatic crash notification, and navigation. Connectivity solutions, developments in the maritime industry, increased digitization in transportation, improved internet connectivity, and technological advancements further propel market growth.
Report Segmentation:
The report has segmented the market into the following categories:
Component Insights:
- Hardware
- Software
- Service
- Safety and Security
- Information and Navigation
- Entertainment
- Diagnostics
Application Insights:
- Commercial
- Passenger Ships
- Defense
Market Breakup by Region:
- North America (United States, Canada)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Applied Satellite Technology Ltd
- Cybernetica AS
- Ki2 Infotech
- Metocean Telematics
- Navis (Accel-KKR)
- Sentinel Marine
- Technoton
- Traxens
- Verizon
- Viatrax Automation Corporation
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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