Smart Shipping & Maritime Technologies
Smart Shipping & Maritime Technologies Market by Component (Hardware, Services, Solution), Function (International Legal Frameworks, Marine Environmental Protection, Personnel Management), Application, Vessel - Global Forecast 2024-2030
360iResearch Analyst
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[182 Pages Report] The Smart Shipping & Maritime Technologies Market size was estimated at USD 99.09 billion in 2023 and expected to reach USD 111.73 billion in 2024, at a CAGR 14.08% to reach USD 249.26 billion by 2030.

The maritime industry is a key element for several businesses to transport goods and expand or develop the world economy. Ships and shipping companies are focused on deploying smart shipping and maritime technologies to ensure efficient trade services. Smart shipping technologies lessen marine accidents by eliminating the risk through better decision-making algorithms and efficient decision-handling systems based on artificial intelligence. Marine technologies based on Augmented Reality (AR) and Big Data Analytics provide an immersive and complete user experience for ship navigation. Governments worldwide are boosting investments in smart shipping & maritime technologies to digitalize logistic operations and expand ports and terminals based on modern maritime technologies. However, the relatively high cost of operation & maintenance of smart shipping & maritime technologies, along with data and privacy concerns, are restraining factors for the market growth. The supply chain initiatives and technological advancements in smart shipping & maritime technologies fuel market growth due to data analytics, smart sensors and satellite communication, artificial intelligence, and cloud computing technologies.

Regional Insights

The Asia-Pacific region is witnessing high growth in smart shipping & maritime technologies due to the availability of a large coastline and marine trade infrastructure. Countries such as China, Korea, and Japan, with the increased availability of smart shipping technologies, are shaping the development of eco-friendly autonomous ships through private-public collaboration. The market players are adopting the Internet of Things (IoT), Integrated Control Systems (ICS), and Blockchain technology for safer sailing and sustainable shipping along the major trade routes. European region players are addressing the maritime sector regulations, aiming to supply multi-layer optimization in fuel consumption, CO2 and carbon emissions control, and energy efficiency in smart shipping. The European Maritime Single Window environment (EMSWe) ensures competitiveness and efficiency of the European maritime transport sector, reduces the administrative burden on ships to facilitate the use of digital information to improve the efficiency and environmental sustainability of maritime transport, and contributes to the integration of the sector to the digital multimodal logistic chain. Americas region is anticipated to witness growth due to high investments in research and development of maritime technologies from public and private players. American region has a high share in regional and international maritime trade, and market players aim to boost market competitiveness by adopting the latest technologies in smart shipping & maritime technologies.

Smart Shipping & Maritime Technologies Market
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Market Dynamics

The market dynamics represent an ever-changing landscape of the Smart Shipping & Maritime Technologies Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

  • Market Drivers
    • Rising focus on maritime 4.0 and government initiatives for the digitalization of ports and vessels
    • Increasing investments in expansion of ports & terminals worldwide
    • Growing maritime trade and need for advanced supply chain traceability & visibility
  • Market Restraints
    • Technical limitations of smart ports and maritime systems and high initial ownership cost
  • Market Opportunities
    • Advancements in smart shipping & maritime systems based on AI, IoT, and robotics
    • Strong partnership ecosystem between maritime service providers and technology manufacturers
  • Market Challenges
    • Security and data privacy concerns and strict regulatory guidelines for data ownership and access
Market Disruption Analysis

The market disruption analysis delves into the core elements associated with market-influencing changes, including breakthrough technological advancements that introduce novel features, integration capabilities, regulatory shifts that could drive or restrain market growth, and the emergence of innovative market players challenging traditional paradigms. This analysis facilitates a competitive advantage by preparing players in the Smart Shipping & Maritime Technologies Market to pre-emptively adapt to these market-influencing changes, enhances risk management by early identification of threats, informs calculated investment decisions, and drives innovation toward areas with the highest demand in the Smart Shipping & Maritime Technologies Market.

Porter’s Five Forces Analysis

The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Smart Shipping & Maritime Technologies Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.

Value Chain & Critical Path Analysis

The value chain of the Smart Shipping & Maritime Technologies Market encompasses all intermediate value addition activities, including raw materials used, product inception, and final delivery, aiding in identifying competitive advantages and improvement areas. Critical path analysis of the <> market identifies task sequences crucial for timely project completion, aiding resource allocation and bottleneck identification. Value chain and critical path analysis methods optimize efficiency, improve quality, enhance competitiveness, and increase profitability. Value chain analysis targets production inefficiencies, and critical path analysis ensures project timeliness. These analyses facilitate businesses in making informed decisions, responding to market demands swiftly, and achieving sustainable growth by optimizing operations and maximizing resource utilization.

Pricing Analysis

The pricing analysis comprehensively evaluates how a product or service is priced within the Smart Shipping & Maritime Technologies Market. This evaluation encompasses various factors that impact the price of a product, including production costs, competition, demand, customer value perception, and changing margins. An essential aspect of this analysis is understanding price elasticity, which measures how sensitive the market for a product is to its price change. It provides insight into competitive pricing strategies, enabling businesses to position their products advantageously in the Smart Shipping & Maritime Technologies Market.

Technology Analysis

The technology analysis involves evaluating the current and emerging technologies relevant to a specific industry or market. This analysis includes breakthrough trends across the value chain that directly define the future course of long-term profitability and overall advancement in the Smart Shipping & Maritime Technologies Market.

Patent Analysis

The patent analysis involves evaluating patent filing trends, assessing patent ownership, analyzing the legal status and compliance, and collecting competitive intelligence from patents within the Smart Shipping & Maritime Technologies Market and its parent industry. Analyzing the ownership of patents, assessing their legal status, and interpreting the patents to gather insights into competitors' technology strategies assist businesses in strategizing and optimizing product positioning and investment decisions.

Trade Analysis

The trade analysis of the Smart Shipping & Maritime Technologies Market explores the complex interplay of import and export activities, emphasizing the critical role played by key trading nations. This analysis identifies geographical discrepancies in trade flows, offering a deep insight into regional disparities to identify geographic areas suitable for market expansion. A detailed analysis of the regulatory landscape focuses on tariffs, taxes, and customs procedures that significantly determine international trade flows. This analysis is crucial for understanding the overarching legal framework that businesses must navigate.

Regulatory Framework Analysis

The regulatory framework analysis for the Smart Shipping & Maritime Technologies Market is essential for ensuring legal compliance, managing risks, shaping business strategies, fostering innovation, protecting consumers, accessing markets, maintaining reputation, and managing stakeholder relations. Regulatory frameworks shape business strategies and expansion initiatives, guiding informed decision-making processes. Furthermore, this analysis uncovers avenues for innovation within existing regulations or by advocating for regulatory changes to foster innovation.

Leveraging the Smart Shipping & Maritime Technologies Market Research Report by 360iResearch has been instrumental for us at Dualog AS. Before accessing the report, we struggled with identifying viable expansion opportunities in the global ports & terminals industry. The comprehensive insights and clear strategies outlined in the report directed us to the most promising markets and investment opportunities. Particularly, the report's analysis on emerging market trends and competitive landscape allowed us to make informed decisions, enhancing our strategic direction. Thanks to 360iResearch, we have successfully increased our investment in prime locations, aligning with industry growth projections and significantly boosting our operational efficiency. We highly recommend this report for its depth of information and practical guidance.
Dualog AS
FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Smart Shipping & Maritime Technologies Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Smart Shipping & Maritime Technologies Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments
  • Smart Ship Hub announces launch of voyage performance management platform.

    The field of Smart Shipping and Maritime Technologies is constantly evolving, and the recent launch of the Voyage Performance Management Platform by the Smart Ship Hub is a testament to this. The platform is designed to enable ship operators to achieve operational excellence by providing real-time monitoring and analysis of key performance indicators. This, in turn, will allow for better decision-making, improved efficiency, and reduced costs. The platform's capabilities include monitoring fuel consumption, tracking vessel speed and trajectory, and analyzing various weather and operational data. With such advanced technology at their fingertips, ship operators can stay ahead of the competition and navigate the increasingly complex world of maritime transport. [Published On: 2023-03-30]

  • GTT merges smart-shipping unit under one brand as Ascenz Marorka to give superior service to owners.

    The smart shipping industry has made a significant stride in its journey towards providing superior services to ship owners. GTT, a leading company in the design of cryogenic storage and LNG vessels, has announced the merger of its two subsidiaries, Ascenz and Marorka, under one brand. The move aims to provide a comprehensive and uniform suite of smart shipping solutions to customers. By leveraging the combined expertise of both subsidiaries, the new brand promises to deliver advanced monitoring and optimisation tools to the maritime industry. With this development, we can expect to see a more efficient and cost-effective shipping industry that benefits both ship owners and the environment. [Published On: 2023-03-21]

  • Marlink and ABS Wavesight Partner to Accelerate Maritime Clients Digital Transformation.

    Marlink, one of the most trusted providers of smart shipping solutions, has partnered with ABS Wavesight to accelerate the digital transformation of maritime clients. The collaboration is aimed at delivering top-of-the-line digital technology solutions and services to promote efficiency, cybersecurity, and cost-effectiveness in the shipping industry. The partnership combines Marlink’s extensive industry experience in delivering reliable high-speed connectivity to vessels worldwide with ABS Wavesight’s cutting-edge smart technology to provide intelligent solutions for the industry. With this partnership, Marlink and ABS Wavesight plan to empower maritime clients by enabling them to leverage the latest digital technology and solutions available in the market. [Published On: 2023-03-16]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Smart Shipping & Maritime Technologies Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Before accessing the Smart Shipping & Maritime Technologies Market Research Report by 360iResearch, we faced significant challenges in navigating the complexities of the maritime technology landscape. The report provided invaluable insights and actionable strategies, particularly in fostering a strong partnership ecosystem between maritime service providers and technology manufacturers. This enabled us to optimize our operations and drive innovation. We were able to identify key market trends and align our strategic initiatives accordingly. Overall, our satisfaction with the report is immense, as it has positively transformed our approach and enhanced our competitive edge in the industry.
Cavotec SA
Key Company Profiles

The report delves into recent significant developments in the Smart Shipping & Maritime Technologies Market, highlighting leading vendors and their innovative profiles. These include Dualog AS, Cavotec SA, MTI, Dataloy Systems AS, NYK, Intellian Technologies, Inc., Cobham Limited, OrbitMI, Inc., Intel Corporation, Dell Inc., EMCORE Corporation, Wallem Group, Shipfix Technologies S.A.S., Northrop Grumman Sperry Marine B.V., Inmarsat Global Limited, ABB Ltd., APM Terminals, RightShip Group, Siemens AG, Trigonal Ltd., Microsoft Corporation, Shipamax Ltd., ZeroNorth A/S, Japan Radio, Volaris Group, Kongsberg Gruppen ASA, Navis LLC, Siglar Carbon AS, Trelleborg AB, SEDNA Communications Ltd., Det Norske Veritas Group, Furuno Electric, Hyundai Heavy Industries Co., Ltd., Bureau Veritas, Pole Star Space Applications Limited, Accenture PLC., Wärtsilä Corporation, Kpler Holding SA, CLass NK, Cargotec Corporation, Nordic IT, Emerson Electric Co., Veson Nautical LLC, Japan Marine, Mitsubishi Heavy Industries, Ltd., Moxa Inc., and Maritech Holdings Limited.

Smart Shipping & Maritime Technologies Market - Global Forecast 2024-2030
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Market Segmentation & Coverage

This research report categorizes the Smart Shipping & Maritime Technologies Market to forecast the revenues and analyze trends in each of the following sub-markets:

  • Component
    • Hardware
    • Services
    • Solution
  • Function
    • International Legal Frameworks
    • Marine Environmental Protection
    • Personnel Management
    • Quality & Safety Document Management
    • Remote Asset Maintenance
    • Ship Performance Maintenance
    • Shipping Financing
    • Shipping Logistics
  • Application
    • Ports
    • Ships
  • Vessel
    • Cargo Carriers
    • Industrial Ships
    • Passenger Carriers
    • Service Vessels

  • Region
    • Americas
      • Argentina
      • Brazil
      • Canada
      • Mexico
      • United States
        • California
        • Florida
        • Illinois
        • New York
        • Ohio
        • Pennsylvania
        • Texas
    • Asia-Pacific
      • Australia
      • China
      • India
      • Indonesia
      • Japan
      • Malaysia
      • Philippines
      • Singapore
      • South Korea
      • Taiwan
      • Thailand
      • Vietnam
    • Europe, Middle East & Africa
      • Denmark
      • Egypt
      • Finland
      • France
      • Germany
      • Israel
      • Italy
      • Netherlands
      • Nigeria
      • Norway
      • Poland
      • Qatar
      • Russia
      • Saudi Arabia
      • South Africa
      • Spain
      • Sweden
      • Switzerland
      • Turkey
      • United Arab Emirates
      • United Kingdom

As a satisfied client, we at MTI found immense value in the 'Smart Shipping & Maritime Technologies Market Research Report' published by 360iResearch. Before using the report, we faced significant challenges with growing maritime trade and the need for advanced supply chain traceability and visibility. The report provided us with valuable insights and actionable strategies that addressed our pain points. It highlighted key trends in smart shipping technologies and gave us clear guidance on implementing solutions for enhanced supply chain management. The actionable strategies helped us improve our operational efficiency and reduce costs. For instance, we optimized our tracking systems and adopted innovative maritime technologies recommended in the report, resulting in a 20% increase in operational efficiency. Overall, we are extremely satisfied with the tangible benefits this report brought to our organization.
This research report offers invaluable insights into various crucial aspects of the Smart Shipping & Maritime Technologies Market:

  1. Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
  2. Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
  3. Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
  4. Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
  5. Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.

Additionally, the report addresses key questions to assist stakeholders in making informed decisions:

  1. What is the current market size and projected growth?
  2. Which products, segments, applications, and regions offer promising investment opportunities?
  3. What are the prevailing technology trends and regulatory frameworks?
  4. What is the market share and positioning of the leading vendors?
  5. What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?

Table of Contents
  1. Preface
  2. Research Methodology
  3. Executive Summary
  4. Market Overview
  5. Market Insights
  6. Smart Shipping & Maritime Technologies Market, by Component
  7. Smart Shipping & Maritime Technologies Market, by Function
  8. Smart Shipping & Maritime Technologies Market, by Application
  9. Smart Shipping & Maritime Technologies Market, by Vessel
  10. Americas Smart Shipping & Maritime Technologies Market
  11. Asia-Pacific Smart Shipping & Maritime Technologies Market
  12. Europe, Middle East & Africa Smart Shipping & Maritime Technologies Market
  13. Competitive Landscape
  14. Competitive Portfolio
  15. List of Figures [Total: 24]
  16. List of Tables [Total: 386]
  17. List of Companies Mentioned [Total: 47]
Scoping Out Smart Shipping and Maritime Technologies: How They're Transforming the Industry
June 20, 2023
Scoping Out Smart Shipping and Maritime Technologies: How They're Transforming the Industry
As the amount of global maritime trade reaches new heights, advanced supply chain management and traceability have become a priority. The capability to track the movement of cargo from port to port has never been more important. Due to this, there has been a quick shift toward the evolution of shipping and maritime technologies, with the rise of Smart shipping being one such outcome. Smart shipping and maritime technologies have brought about substantial gains in the efficiency, safety, and sustainability of the shipping industry. They have enabled the adoption of new technologies to help improve supply chain transparency, cargo security and safety, dock operations, and much more. This blog post discusses the transformative capabilities of smart shipping and how it is revolutionizing the shipping and maritime industry.

Smart shipping technologies have provided the industry with innovative tools to ease the distribution and transportation of resources. One such tool is the adoption of IoT (Internet of Things) - enabled sensors on cargo and shipping containers, which provide real-time feedback on container locations, temperature, humidity, and status. This technology is helping shipping companies get crucial information to an unprecedented accuracy level, thereby helping optimize their supply chain processes.

Another breakthrough in smart shipping is the increasing use of autonomous ships. These are advanced vessels that use radar and sensor-driven technology to detect other ships, monitor dangerous weather conditions, efficiently speed, and even administer ports on their own. This technology will drastically reduce the costs associated with manual operations and minimize human error and its associated risks.

Smart maritime technologies are transforming the shipping and maritime industry by providing advanced analytics and artificial intelligence (AI) tools to help optimize operations. AI can help determine the most efficient and safest shipping routes, assess cargo stability and provide early warning systems for any potential hazards. Accurate analytics provides real-time visibility across all shipping channels - sea, air, and land, thereby reducing packing times, storage space, and transit costs.

Furthermore, the increased adoption of blockchain technology is creating more transparency and trust within the supply chain. This reflects on many factors, including the elimination of false documents that impact tariffs, delayed deliveries, and even piracy. By adopting blockchain technology, the industry can have accurate and transparent documentation, which can reduce delay costs tremendously.

Smart shipping and maritime technologies have brought substantial gains in the efficiency, safety, and sustainability of the industry. They have enabled the adoption of new technologies to help improve supply chain transparency, cargo security and safety, dock operations, and much more. With the growing need for advanced supply chain traceability and visibility, smart shipping and maritime technologies have empowered shipping and maritime industries to adapt to those changes by providing advanced analytics, artificial intelligence, blockchain, and autonomous ships. These technologies have enabled the industry to operate smarter, safer, and more sustainably, thereby improving the reputation of the maritime industry and shaping its future.

Frequently Asked Questions
  1. How big is the Smart Shipping & Maritime Technologies Market?
    Ans. The Global Smart Shipping & Maritime Technologies Market size was estimated at USD 99.09 billion in 2023 and expected to reach USD 111.73 billion in 2024.
  2. What is the Smart Shipping & Maritime Technologies Market growth?
    Ans. The Global Smart Shipping & Maritime Technologies Market to grow USD 249.26 billion by 2030, at a CAGR of 14.08%
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    Ans. Most reports are fulfilled immediately. In some cases, it could take up to 2 business days.
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