Marine Internet Of Things ( IOT) Market Is Driven By An Increase In Seaborne Trade With A Healthy CAGR Of 17.1% ,Top Key Players By 2030

Market Research Future Insights

Marine Internet of Things Market Size Valued at USD 689.1 Billion, market Grow at a CAGR Of 17.1% by 2020 -2030

The marine Internet of Things (IoT) refers to the use of IoT technologies in the marine industry, including the shipping, fishing, and offshore oil and gas industries. Marine IoT technologies are used to improve the efficiency, safety, and sustainability of marine operations, by enabling the real-time tracking and monitoring of vessels, cargo, and other assets.

The demand for marine IoT technologies has remained relatively stable during the pandemic, as they are used in a variety of applications where the tracking and monitoring of marine assets are critical. However, the pandemic has disrupted some supply chains and there have been some delays in the development and deployment of marine IoT technologies.

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Key Players

Some of the key market players are Cisco Systems, Inc., Marine Digital GmbH, Vodafone Group Plc, Ericsson AB, Orange Business Services, Wartsila Oyj Abp, Accenture Plc, Dualog AS, Wilhelmsen Holding ASA, and NTT Group.

Regional Analysis

North America, which is made up of the United States and Canada, held the largest share of global military expenditure and technological advancements. The region’s naval vessels are highly sought-after due to their advanced capabilities, and the US Navy is a major adopter of these technologies. As a result, the North American market is expected to grow significantly in the coming years.

Market Segmentation

The Global Marine Internet of Things market has been segmented into type, application, and vertical.

Based on the component, the market has been segmented into Sensing Devices, Network Connectivity, IoT Platforms, and IT Solutions & Services.

Based on the application, the market has been segmented into Route & Operation Optimization, Asset Tracking, and Equipment Monitoring.

Based on the ship type, the market has been segmented into Commercial and Defense.

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