Press release
Key Artificial Intelligence (AI) In Maritime Transport Market Trend for 2025-2034: Advancements in AI for Risk Assessment in Maritime Transport
Artificial Intelligence (AI) In Maritime Transport Market Size
The market size of artificial intelligence (AI) in maritime transport has seen robust growth recently. It is projected to expand from $5.83 billion in 2024 to $6.24 billion in 2025, boasting a compound annual growth rate (CAGR) of 7.0%. Factors contributing to this growth during the historical period include the rising demand for operational efficiency, enhanced security and safety measures, an increase in global trading and shipping volumes, a greater emphasis on environmental sustainability, and the development of autonomous vessels and navigation systems.
The market size for artificial intelligence (AI) in maritime transport is projected to experience significant growth in the coming years, reaching an estimated $8.09 billion in 2029, with a compound annual growth rate (CAGR) of 6.7%. Factors contributing to this predicted growth in the forecast period include the escalating demand for autonomous vessels, heightened safety and security protocols, the increasing imperative for fuel efficiency, a surge in the adoption of AI-driven logistics optimization, rising regulatory support for digital transformation, and escalating investments in intelligent port technologies. Key trends projected for the forecast period encompass the adoption of autonomous vessels, the incorporation of improved predictive maintenance systems, the initiation of AI-realized port automation, advancement in real-navigational and routing systems, acceptance of AI-operated environmental monitoring, fusion of AI with IoT for intelligent shipping, and utilization of AI-enhanced cybersecurity measures.
What Is Stimulating Growth in the Artificial Intelligence (AI) In Maritime Transport Market?
The surge in worldwide trade volumes is predicted to boost the expansion of the artificial intelligence (AI) in maritime transport sector. The term "global trade volumes" means the total volume of goods and services traded between nations around the globe. The continual technological progress and development in logistics have cut the costs of transportation and communication, thereby making international trading more feasible for businesses. Furthermore, globalization has resulted in more interconnected supply chains and trade deals that promote cross-border business. The use of AI in maritime transport escalates worldwide trade volume by augmenting efficiency, cutting costs, and streamlining logistics. It foresees maintenance needs for ships thereby decreasing downtime and improving the reliability of the fleet. For example, data from the International Trade Administration shows that in 2022, US exports of goods and services to the UK rose to $157.1 billion, a 21.5% increase from 2021, as stated in November 2023. Consequently, the rising global trade volumes are driving the growth of the artificial intelligence (AI) in maritime transport market.
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Which Key Market Leaders Are Driving Artificial Intelligence (AI) In Maritime Transport Industry Growth?
Major companies operating in the artificial intelligence (AI) in maritime transport market are Siemens AG, International Business Machines Corporation, HD Hyundai Co Ltd., Northrop Grumman Corporation, Schneider Electric SE, Mitsubishi Heavy Industries Ltd., ABB Ltd., Thales S.A., L3Harris Technologies Inc., Rolls-Royce Holdings plc, Emerson Electric Co., Singapore Technologies Engineering Ltd., Wärtsilä Corporation, Garmin Ltd., Cargotec Corporation, Saab AB, Kongsberg Gruppen ASA, Fugro NV, Furuno Electric Co. Ltd., BMT Group Ltd., Tokyo Keiki Inc., Spire Global Inc., Napa Oy, MarineTraffic, Windward Ltd.
What Are the Emerging Trends in the Artificial Intelligence (AI) In Maritime Transport Industry?
Top firms in the artificial intelligence (AI) for maritime transport market are integrating AI to augment vessel navigation, boost predictive maintenance, increase fuel efficiency, and automate port and freight operations. The application of AI in maritime allows the breakthrough technology to scrutinize data from vessels, weather, and geopolitical situations to foresee and control possible hazards in maritime operations. For example, in June 2024, the Israel-based software company, Windward Ltd., introduced the MAI Expert, a maritime artificial intelligence virtual representative. This AI-driven expert, educated on Windward's maritime risk insights, applies Amazon Bedrock's foundational models elevated with exclusive maritime logistics data to increase efficiency, decrease vessel screening durations, and mechanize operations. It provides profound knowledge in maritime operations, sanctions laws, and Windward's data, facilitating quick and all-inclusive vessel risk evaluations.
What Are the Main Segments in the Artificial Intelligence (AI) In Maritime Transport Market?
The artificial intelligence (AI) in maritime transport market covered in this report is segmented -
1) By Component: Solution, Services
2) By Deployment: On-Premise, Cloud- Based
3) By Application: Route Optimization, Predictive Maintenance, Fleet Management, Safety And Security, Other Applications
Subsegments:
1) By Solution: AI-based Navigation Systems, Predictive Maintenance Solutions, Cargo Optimization Tools, Autonomous Vessel Technology, Fleet Management Software
2) By Services: Consulting Services, Implementation Services, Training and Support Services, Data Analytics and Reporting Services
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Which Geographic Area Leads the Artificial Intelligence (AI) In Maritime Transport Market?
North America was the largest region in the artificial intelligence (AI) in maritime transport market in 2024. The regions covered in the artificial intelligence (AI) in maritime transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Artificial Intelligence (AI) In Maritime Transport Global Market Report?
- Market Size Analysis: Analyze the Artificial Intelligence (AI) In Maritime Transport Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Artificial Intelligence (AI) In Maritime Transport Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Artificial Intelligence (AI) In Maritime Transport Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Artificial Intelligence (AI) In Maritime Transport Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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