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(CityRegions.Com, May 17, 2018 ) The maritime analytics market is expected to register a CAGR of 16.54%, during the forecast period 2018 - 2023.
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The marine industry has been on a prosperous path over the recent five-year period registering considerable growth across the various sectors within the industry, with ocean shipping in particular being the most prominent contributor towards this growth. The maritime industry has been on the cusp of evolution in response to constant changes in the economic, political, and technological trends governing the growth of the industry. The generation of huge volumes of data has laid the emphasis on analytics solutions to be deployed in the maritime industry for a host of applications, such as predictive maintenance, operational management, and optimal route mapping among others.
Analytics solutions are being deployed on a large scale in the maritime industry owing to their instant impact on identifying the optimal routes and helping marine authorities to plan their maintenance cycles and reduce the overall cost of maintenance. Data management and analytics plays a crucial role in vessel tracking and management, which has primarily created a demand for analytics solutions in the maritime safety sector.
Enhance the On-board Safety and Compliance Conditions on the Ships
Better coordination between ships is of critical importance irrespective of their purpose of being on the water. Companies have been proactively investing in the development of effective management systems, which can lead to the better coordination between the involved stakeholders. The capabilities of the system can assist in planning a transit through a narrow path to avoiding piracy attacks, which are of elementary need but have the capability to save immense amount of monetary and human resource over the course of a single trip.
Collected information further helps reduce the amount of redundancy of planning a journey, by reducing the time spent on identifying the optimal route and also by enhancing operations on a day to day basis.
Americas Emerges as a Leader in the Maritime Analytics Market
Analytics solutions are being developed across the industrial landscape to address efficiency, productivity, and safety issues. Emphasis on analytics has been a consequence of the presence of effective information systems in place, which has led to the generation of huge volumes of data for processing and gaining analytical insights. US leads the market for analytics, buoyed by the presence of a large number of companies, investing heavily to develop cutting edge solutions to enhance productivity.
Key Developments In The Market
• October 2017 - exactEarth Europe Limited, which a leading provider of Satellite AIS data services, has collaborated with leading LRIT solution providers, such as Catapult, Pole Star, and a couple of other leading firms have completed the demonstration of a new global machine to machine (M2M) and IoT platform. It uses AIS bases networking and ‘Application Specific Messaging’ (ASM) to upload sensor data from remote maritime assets in real time.
Major Players - WINDWARD LIMITED, EXACTEARTH LTD., MP MARITIME ANALYTICS CORPORATION, SPARK COGNITION INC., MARITIME INTERNATIONAL INC., LAROS INC., ERICSSON INC., ABB LTD., BIG DATA VALUE ASSOCIATION, INMARSAT PLC, ENIRAM LTD., amongst others.
Reasons to Purchase this Report
• To track innovations and emerging technologies in the analytics segment of the maritime information market
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• The segments that are expected to dominate the market
• Regions that are expected to witness fastest growth during the forecast period
• Identifying the latest developments, market shares, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in excel)
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs
Windward Limited, exactEarth Ltd., MP Maritime Analytics Corporation, Spark Cognition Inc., Maritime International inc., Laros Inc., Ericsson Inc., ABB Ltd., Big Data Value Association, Inmarsat PLC, Eniram Ltd.
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Some of Major Point From TOC
1.1 Scope of the Study
1.2 Executive Summary
2. Research Methodology
2.1 Study Deliverables
2.2 Study Assumptions
2.3 Research Methodology
2.4 Research Phases
3. Market Insights
3.1 Market Overview
3.2 Porter's five forces Analysis
3.2.1 Threat of New Entrants
3.2.2 Bargaining Power of customers
3.2.3 Bargaining Power of Suppliers
3.2.4 Threat of Substitute products
3.2.5 Intensity of Competitive Rivalry
3.3 Industry Policies
4. Market Dynamics
4.2 Factors Driving the Growth of the Market
4.2.1 Growing investments in Maritime technologies
4.3 Factors Challenging the Growth of the Market
4.3.1 Limited scope of the solutions
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