Maritime information market to reach US$ 3.2 billion by 2028

The global maritime information market has experienced substantial growth, reaching a size of US$ 1.8 billion in 2022. The market is poised for significant expansion, with a projected reach of US$ 3.2 billion by 2028, demonstrating an impressive compound annual growth rate (CAGR) of 19% during the period 2023-2028, according to Research and Markets

Maritime navigation, a practice dating back centuries for trade, travel, and security, has undergone a digital transformation. This transformation has ushered in the era of maritime information solutions, enabling users to gather crucial data about port and water body activities.

These solutions aid vessels in adapting to dynamic sea conditions by monitoring various parameters, empowering users and organizations to make informed operational and strategic decisions. They enhance overall productivity, safety, and efficiency in marine operations. Consequently, they are employed to acquire data on naval vessel ownership, movements, specifications, and commercial activities.

Maritime information solutions play a pivotal role in ensuring the security of nations, making them widely used by governing authorities worldwide. These solutions help countries mitigate maritime threats, including human trafficking, terrorist attacks, environmental damage, and illegal seaborne immigration. The liberalization of global trade has led to a significant increase in the number of ships traversing the oceans, further bolstering the demand for these solutions. Additionally, the International Maritime Organization (IMO) has implemented strict regulations, mandating the deployment of Automatic Identification Systems (AIS) on all vessels to monitor maritime traffic and prevent collisions. Manufacturers are investing in research and development to achieve accurate signal detection from naval vessels.

The publisher’s latest report offers an in-depth insight into the global maritime information market, covering macro and micro aspects, recent trends, key drivers, challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, and more. This report is essential reading for entrepreneurs, investors, researchers, consultants, business strategists, and anyone with an interest or stake in the maritime information market. Research and Markets