LONDON–(COMMERCIAL THREAD) – The maritime information market is expected to grow by USD 736.98 million during the period 2020-2024, according to Technavio’s latest market research report. Request a free sample report
The integration of AIS into maritime information solutions will contribute to the adoption of maritime information solutions between ports. An AIS is an on-board transponder system designed for maritime safety, in particular collision prevention. It consists of a transponder unit, comprising a very high frequency transmitter / receiver, a display / terminal and a global positioning system (GPS). This device broadcasts messages containing the position, identification, speed and destination of a vessel at specific time intervals. Using this technology, maritime information solutions can help ensure the safety of ships approaching ports. It also helps secure ports as this technology can help detect illegal ships approaching the port. Thus, the integration of AIS into maritime information solutions will boost the growth of the global maritime information market during the forecast period.
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According to Technavio, the increase in maritime trade will have a positive impact on the market and contribute to its growth significantly during the forecast period. This research report also analyzes other important trends and market drivers that will influence the market growth in 2020-2024.
Maritime information market: increase in maritime trade
Many countries are planning to expand their maritime trade. Some of the examples include the extension of the Panama Canal and Suez Canal routes and the One Belt-One Road initiative. Such initiatives will have a positive impact on maritime trade, helping to reshape the global maritime network. This is likely to introduce many business opportunities for companies around the world. The increase in maritime trade will lead to an increase in maritime traffic, which will fuel the demand for maritime information solutions. In addition, the Fourth Industrial Revolution opens up opportunities for countries and shipping. This will lead to an increase in the number of maritime business activities, which will ultimately fuel the growth of the global maritime information market.
“Factors such as the increasing application of analytics in maritime information management and the rapid development of new ports will have a positive impact on the growth in the value of the maritime information market during the period. forecasting, âsaid a senior analyst at Technavio.
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Maritime information market: segmentation analysis
This market research report segments the maritime information market by application (MIA, MIP, VT and AIS), by end user (commercial and government) and by geography (APAC, Europe, MEA, North America and South America).
The European region dominated the maritime information market in 2019, followed by North America, APAC, MEA and South America. During the forecast period, the European region is expected to register the highest incremental growth due to factors such as the need to provide security and maintain efficient operations, and the increasing demand for maritime security.
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Some of the main topics covered in the report include:
Positioning of sellers in the market
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