February 19, 2025
Maritime Analytics Market

Maritime Analytics Market Is Driven By Advancement In Big Data Analytics

Maritime analytics refers to the process of analysing maritime data generated from vessels, ports, and other maritime assets and infrastructure for predictive, prescriptive and real-time decision making. Maritime organizations utilize analytics to optimize operations by improving vessel performance, route optimization, port and terminal operations, supply chain management, safety and security. The growing digitalization in maritime operations along with regulations around emission control and safety standards have increased the need for analytics. Maritime operators now leverage analytics to increase fuel efficiency, reduce emissions, optimize maintenance schedules, monitor asset health, detect anomalies and ensure safe operations.

The global Maritime Analytics Market is estimated to be valued at US$ 1275.91 Bn in 2023 and is expected to exhibit a CAGR of 13 % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Advancement in big data analytics and Internet of Things (IoT) have opened up opportunities for maritime organizations to generate insights for decision making. Analytics tools now leverage insights from a wide range of maritime data sources including sensor data from vessels, AIS data, weather data, engine parameters, cargo details etc. to provide a comprehensive view of operations. Applications of machine learning and artificial intelligence are also growing with algorithms being used for predictive maintenance, route optimization, predictive performance optimization and anomaly detection. Advancement in edge and fog computing is also enabling real-time analytics capabilities which will drive higher fleet optimization and safety.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate due to high capital requirement for technological infrastructure and gaining customer trust.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of alternative solutions but technology differentiation gives advantage to few vendors.
Bargaining power of suppliers: Suppliers have low bargaining power due to availability of substitute components and dominance of few technology giants in the market.
Threat of new substitutes: Threat of substitutes is low as maritime analytics solutions provide optimized operations, safety and compliance which is difficult to replace.
Competitive rivalry: The competition is high among key players to gain higher market share through product innovation, mergers and acquisitions.

Key Takeaways

The global Maritime Analytics Market Growth is expected to witness high growth. North America is expected to dominate the Maritime Analytics Market owing to presence of major players and technological advancements in the region.

Regional analysis

North America is holding the major market share in the Maritime Analytics Market owing to continuous technology innovation, increased demand for maritime data analytics and presence of key market players in the region. Asia Pacific is expected to grow at fastest pace during the forecast period driven by increasing trade activities through sea routes and government initiatives for digitization of ports and vessels in developing countries such as China and India.

Key players

Key players operating in the Maritime Analytics Market are Inmarsat GHL (Connect Bidco Limited), Windward Limited, Amplify Mindware Private Limited, Spire Global, Inc., ProGen Business Solutions Private Limited, Spark Cognition Inc., Wartsila Oyj Abp, Prisma Electronics SA (Laros), U-Ming Marine Transport Corporation, and ABB Ltd. Windward Limited captured highest market share in 2021 through product innovations and geographical expansions. Prisma Electronics SA (Laros) is focusing on strategic acquisitions to strengthen its solutions portfolio.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Money Singh
+ posts

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. 

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. 

View all posts by Money Singh →