Marine Internet Of Things Market Projected To Grow At A CAGR...| MENAFN.COM

Friday, 01 July 2022 02:00 GMT

Marine Internet Of Things Market Projected To Grow At A CAGR Of ~6% During 2022 2030


(MENAFN- America News Hour)

Research Nester published a report titled Marine Internet of Things Market : Global Demand Analysis & Opportunity Outlook 2030 which delivers detailed overview of theglobalmarine internet of things market in terms of market segmentation by product type, application, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global marine internet of things market is estimated to occupy a large amount of revenue by recording a CAGR of ~6% during the forecast period, i.e., 2022 – 2030, owing to the growing seaborne trade and maritime tourism across the globe, and rise in defense budgets, especially in developed countries. Apart from these, increasing demand for onboard IoT vessels, and surging deployment of onboard broadband are another crucial factor expected to accelerate market growth in the coming years.

The market is segmented by product type and application. Based on product type, the network connectivity segment is anticipated to hold the largest share during the forecast period on the back of growing adoption of satellite connectivity solutions by marine vessel operators globally. Additionally, by application, the asset tracking segment is projected to gather the observe the highest growth rate over the forecast period ascribing to the high operational efficiency offered by IoT tracking tools, and their ability to provide effective fleet monitoring and detection of environmental changes.

Geographically, the global marine internet of things market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America is evaluated to grab the largest share in the market during the forecast period attributing to the growing advancements in the robotics industry in the region. Moreover, Asia Pacific is predicted to register noteworthy market growth over the forecast period in view of the escalating military spending, and rising international seaborne trade in the region.

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players' competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

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Rising Maritime Tourism and Seaborne Trade Globally to Boost Market Growth

The world is witnessing an upsurge in maritime tourism and seaborne trade since the last decade. In addition, maritime transport is considered to be the backbone of global trade and economy, and the rise in these activities are predicted to raise the demand for technologically advanced marine solutions. This in turn is predicted to drive market growth in the near future.

However, vulnerability of IoT solutions to cyber threats is expected to operate as key restraint to the growth of the global marine internet of things market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global marine internet of things market which includes company profiling of Cisco Systems, Inc., Vodafone Group Plc, Ericsson AB, Orange Business Services, Wartsila Oyj Abp, Marine Digital GmbH, Accenture Plc, Dualog AS, Wilhelmsen Holding ASA, NTT Group, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global marine internet of things market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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