PUBLISHER: The Business Research Company | PRODUCT CODE: 1648638
PUBLISHER: The Business Research Company | PRODUCT CODE: 1648638
The connected ship refers to ships in which technology is installed and connected and managed via satellite. The connected ships are used within the shipping and marine industry to improve safety, security, and navigational efficiency through technology integration. They are used in a variety of operations, such as ship traffic management, fleet operations, and fleet health operations.
The main types of connected ships are commercial, defense, and others. The connected ships commercial market consists of sales of connected ship solutions that are used by individuals or corporations for transporting goods from the manufacturer or producer to a market, customer or final point of distribution. The various types of fits are linefit and retrofit, which are installed either onboard or onshore. They are used in various applications such as vessel traffic management, fleet operations, fleet health monitoring, and others.
The connected ship market research report is one of a series of new reports from the business research company that provides connected ship market statistics, including global market size, regional shares, competitors with a connected ship market share, detailed connected ship market segments, market trends and opportunities, and any further data you may need to thrive in the connected ship industry. This connected ship market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The connected ship market size has grown strongly in recent years. It will grow from $7.3 billion in 2024 to $7.74 billion in 2025 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to globalization of trade, navigation and communication advancements, maritime safety regulations, development of satellite communication, integration of automated systems in shipping.
The connected ship market size is expected to see strong growth in the next few years. It will grow to $10.28 billion in 2029 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to increased automation and digitalization of ships, growing demand for eco-friendly and sustainable shipping, adoption of alternative fuels and propulsion systems, expansion of the global shipping network, development of autonomous ships. Major trends in the forecast period include smart shipping solutions, integration of blockchain in maritime operations, remote monitoring and diagnostics, autonomous and unmanned vessels, environmental monitoring and compliance systems.
The increase in seaborne trade is anticipated to drive the growth of the connected ship market in the coming years. Seaborne trade involves the transportation of cargo by ship, which is essential for trading goods such as food, technology, medicine, and other products. Affordable and efficient maritime transportation is crucial for sustainable development and economic growth. For example, in July 2024, the International Energy Agency, a Paris-based autonomous intergovernmental organization, reported that seaborne trade reached approximately 1.38 billion tonnes in 2023, with total trade slightly exceeding 1.5 billion tonnes, marking historical highs. As a result, the surge in seaborne trade is propelling the expansion of the connected ship market.
Growing marine traffic is expected to propel the growth of the connected ships market going forward. Marine traffic refers to the movement of ships and other vessels on the sea or inland waterways. As marine traffic increases, connected ships leverage advanced communication systems to improve navigation, allowing vessels to communicate with each other and with onshore facilities. This helps in preventing collisions, optimizing routes, and ensuring smoother traffic management. For instance, in January 2023, according to BigOceanData, a pioneer of the ship tracking industry, Global marine traffic has increased with container ships spending 13. 7% longer in port. Therefore, growing marine traffic is driving the growth of the connected ships market.
Digital transformation in marine has emerged as the key trend gaining popularity in the connected ship market. The purpose of the connected ships is to use technology and other platforms to demonstrate a digitalization platform on board a ship. Major companies operating in the connected ship market are focused on new digital transformation technology to meet consumer demand and strengthen their position. For instance, in March 2022, MSC, an Italy-based shipping company, launched hybrid network solutions and advanced secure IT management. Cyber detection services fully protect this hybrid network solution. The service scans outbound and inbound network traffic to detect targeted cyber threats in real-time and takes immediate steps to correct incidents.
Major companies operating in the connected ship market are focusing on strategic investments to strengthen their position in the market. Strategic investments are made with a long-term perspective, aiming to create value or achieve specific objectives over an extended period, rather than for short-term gains. Funds allocated to research and invest in advanced technologies that facilitate the development of connected ship systems. This might involve IoT, data analytics, AI, automation, and remote monitoring systems for ships. For instance, in October 2023, PSA Marine, a Singapore-based leader in the maritime sector, has built a fleet monitoring centre in Singapore, Fleet Data-To-Knowledge (D2K) Centre, to monitor its harbour tug fleet and uses simulators to train its marine crew there. Using digitalisation technologies and wall-length screens, PSA Marine observes harbour tug positioning, operations, fuel consumption and machinery health while managing the scheduling and deployment of its tugs inhouse. It can visualise the location of the fleet around Singapore port waters using Automatic Identification System (AIS) data, and monitors transit times, speed and fuel consumption on the modern tugs to help tug masters to optimise operations and improve efficiency.
In December 2023, Wilh. Wilhelmsen Holding ASA, a Norway-based shipping company, acquired ZEABORN Ship Management GmbH & Cie. KG for an undisclosed amount. This acquisition aims to strategically enhance the market presence of Wilhelmsen and MPC Capital's ship management by significantly expanding their operational capacity and client base, allowing them to provide high-quality services to a fleet of over 150 vessels. ZEABORN Ship Management GmbH & Cie. KG is a Germany-based third-party ship management company that manages vessels for its clients and offers connected ship services.
Major companies operating in the connected ship market include ABB Corporation, General Electric Company, Emerson Electric Co., Schneider Electric SE, Hyundai Heavy Industries Co. Ltd., Kongsberg Gruppen ASA, Rockwell Automation Inc., Valmet Corporation, Wartsila Oyj Abp, Marlink AS, Northrop Grumman Corporation, RH Marine Group, Siemens Aktiengesellschaft, Ulstein Group ASA, Thales Group, Furuno Electric Co. Ltd., Navico Holding AS, Inmarsat plc, Telefonaktiebolaget LM Ericsson, Intelsat Corporation, Harris Corporation, Iridium Communications Inc., KVH Industries Inc., Raytheon Anschutz GmbH, Sperry Marine BV, Transas Marine International AB, Cobham Satcom A/S, GNS GmbH
Asia-Pacific was the largest region in the connected ship market in 2024. The regions covered in the connected ship market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the connected ship market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The connected ship market consists of sales of container ships, bulk carrier, tanker ships, passenger ships and naval ships. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Connected Ship Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on connected ship market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for connected ship ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The connected ship market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.