Connected Ships Market: Overview

Traditionally, once a ship has left the port its communication with shore was severed. This was until the introduction of radios on ships at the beginning of the 20th century. However, the shipping industry is now experiencing a step change in this field, with digital signals that can be transferred from ship to shore, and in the reverse direction, at significant rates, independent of the ship’s location. The connected ships deals with a drive, within the shipping and marine industry to enhance safety, security, and navigational efficiency through technology integration. This helps the on-ship system to increase control and awareness.

The operational team receives intense levels of situational awareness by combining visual and numerical data from various ship systems such as cameras, radars, electronic chart display and information system (ECDIS) and automatic identification system (AIS). This is advantageous for on-ship safety and off-ship surveillance. The connected ships helps in voyage management, vessel monitoring, economic voyage, fuel management, and predictive diagnosis & assessment.

Connected Ships Market: Drivers & Restraints

The connected ships, help in welfare, entertainment, and operational applications. The welfare and entertainment for passengers and crew is a key driver of the connected ships market.  Operational applications such as route planning, cargo logistic, application monitoring, and administration communication between the vessels have become handy with the application of connected ships.

 The connected ships comprises long-range identification & tracking (LRIT) system and automatic identification system. The long-range identification & tracking system requires vessels to report their ID position to their flag administration four times a day, which is typically done via satellite. The automatic identification system transmits details such as vessel ID, position, course, and speed, on dedicated channels in the very-high frequency (VHF) band to avoidance collisions.

Connected Ships Market: Key Segments

The global connected ships market can be segmented based on application, installation type, ship type, fit, and region. In terms of application, the market can be classified into vessel traffic services (VTSs), fleet operations, and fleet health operations. The VTS is a marine traffic monitoring system established by port or harbor authorities. It is similar to air traffic control for aircrafts. Fleet operations consists of services such as ship building, marine insurance, technical management, and crew member management. Fleet health operations deals with health of the overall crew on the ship. Based on installation type, the connected ships market can be bifurcated into onboard and offshore. In terms of ship type, the market can be segregated into commercial and defense. Based on fit, the connected ships market can be divided into line fit and retro fit.

Connected Ships Market: Regional Outlook

In terms of region, the global connected ships market can be categorized into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. North America is projected to lead the global market during the forecast period, followed by Europe. The market in Asia Pacific is projected to expand at a significant pace during the forecast period. Latin America and Middle East & Africa are expected to account for a small share of the global market during the forecast period.

Connected Ships Market: Key Players

Key players operating in the global connected ships market include Northrop Grumman Corporation, General Electric, Wärtsilä, Kongsberg Maritime, Marlink, ABB, Emerson Electric Co., Hyundai Heavy Industries Co., Ltd., JASON INC., Rockwell Automation, Inc., Schneider Electric, Ulstein Group ASA, and Valmet.

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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

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2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

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6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

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