Maritime Information Market 2023 | Size to Hit US$ 3.2 Billion at CAGR of 19% by 2028 | Report by IMARC Group

According to the latest report by IMARC Group, titled "Maritime Information Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on the global maritime information market. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The global maritime information market size reached US$ 1.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.2 Billion by 2028, exhibiting a growth rate (CAGR) of 19% during 2023-2028.

Maritime information refers to information about the sea and ships, including navigation, weather, sea conditions, tides, shipping lanes, port information, regulations, and safety information. This information is crucial for safe and efficient maritime operations and is used by shipping companies, government agencies, and other organizations involved in the marine industry. It plays a vital role in guaranteeing the protection of the economy, and the governing authorities worldwide are commonly used. Such information help countries reduce maritime threats like the trafficking of human beings, terrorist attacks, degradation of the environment, and unlawful immigration by sea.

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Market Trends and Drivers:

The global market is majorly driven by the increasing demand for digitalization and automation in the maritime sector. In line with this, the rising trade and freight transport activities by sea are significantly contributing to the market growth. Furthermore, the growing awareness and the need to maintain marine security are positively influencing the market. Apart from this, due to world trade liberalization, the number of ships crossing the oceans has ascended significantly, raising the need for these solutions.

Moreover, the escalating demand for advanced security and safety mechanisms against terrorism is offering lucrative opportunities for market expansion. Besides, the implementation of favorable rules and regulations for better integration and regulation of maritime security is creating a positive outlook for the market. Additionally, the rapid integration of innovative technologies such as AI, IoT, and blockchain into maritime operations is providing a boost to the market.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• Inmarsat
• L3 Technologies
• ORBCOMM
• Raytheon Company
• Thales Group
• exactEarth
• Iridium Communications

Key Market Segmentation:

Breakup by Application:

• Maritime Information Analytics
• Maritime Information Provision
• Vessel Tracking
• AIS (Automatic Identification System)

Breakup by End-User:

• Government
o Defense
o Intelligence and Security
o Search and Rescue
o Government Agency
o Others
• Commercial
o Port Management
o Business Intelligence
o Commercial Fishing
o Commercial Shipping
o Hydrographic and Charting
o Commercial Offshore
o Others

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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This release was published on openPR.