Maritime Information Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)
The “Maritime Information Market” report offers qualitative and quantitative insights and a detailed analysis of market size & growth rate for all possible segments in the market. The Global Maritime Information Industry presents a market overview, product details, classification, and market concentration. The report also provides an in-depth survey of key players in the market which is based on various competitive intelligence parameters like company profiles, product picture and specification, capacity, production, price, cost, revenue, and contact information. The Maritime Information Market report provides an in-depth study of SWOT analysis i.e. Strength, Weakness, Opportunities, and Threat to the organization. Market Insights Report analysed the impact of COVID-19 (Corona Virus) on the product industry chain based on the upstream and downstream markets, on various regions and major countries and on the future development of the industry are pointed out.
The Maritime Information Market was valued at USD 1005.7 million in 2020 and expected to reach USD 1553.33 million by 2026 and grow at a CAGR of 6.65% over the forecast period (2021-2026).
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.
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– July 2019 – To improve maritime security, Saudi Border Guards established the Jeddah Maritime Information Sharing Center (JMISC), a regional hub for the collection, exchange and analysis of data.
– June 2019 – The Indian Navy hosted a two day maritime information sharing workshop under the aegis of the Information Fusion Centre Indian Ocean Region (IFC-IOR) at Gurugram. The workshop aimed to acquaint participants about IFC-IOR and its information sharing mechanisms and promote sharing of best practices in this field.
Key Market Trends
Automated Identification Systems to Dominate the Market
– The concerned government authorities across the world have made considerable investments to integrate the AIS (Automatic Identification Systems) into the ships, to reduce the marine accidents and enhance marine traffic management.
– The International Maritime Organization’s International Convention for the Safety of Life at Sea requires automatic identification systems to be fitted in international voyaging ships with 300 or more GT ( Gross Tonnage) and passenger ships, regardless of size. This is leading to a rapid increase in the installation of AIS, thereby boosting the growth of the market.
– The rise in global trade routes through sea is increasing the ship traffic in the world’s oceans. According to the study, there are four times as many ships at sea now than 20 years ago. Factors like these are helping in AIS demand.
Asia-Pacific to Witness the Highest Growth
– According to a survey conducted by Allianz Global Corporate & Specialty (AGCS), a unit of the Allianz Group, the number of reported shipping incidents overall in Asia actually increased by 22% in the past four years. This calls for an increased use of maritime information system.
– APAC waters witness higher levels of trade globally, thus more ships pass through this region.
– In many cases port infrastructure in Asia is new and there are many new or expanding ports in China, Korea, Japan and Malaysia. This calls for an improved maritime information system to address future challenges.
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Maritime Information Market report studies the market in-depth and provides an all-inclusive analysis of the key growth factors, Maritime Information market share, latest trends, key players, and their projections for the future. Also, Maritime Information Market report provides growth rate, market demand, and supply, the market potential for each geographical region. The analysis provides an exhaustive investigation of the market along with the future projections to assess the investment feasibility. Furthermore, the report includes both quantitative and qualitative analyses of the Maritime Information Market throughout the forecast period. This report analyses the impact of the COVID-19 on the Maritime Information market share in the short and long term.
At the beginning of 2021, COVID-19 disease began to spread around the world, millions of people worldwide were infected with COVID-19 disease, and major countries around the world have implemented foot prohibitions and work stoppage orders. Except for the medical supplies and life support products industries, most industries have been greatly impacted, and Maritime Information industries have also been greatly affected. With the slowdown in world economic growth, the Maritime Information industry has also suffered a certain impact, but still maintained a relatively optimistic growth, the past four years, Maritime Information market size to maintain the average annual growth rate of 15 from 2015 to 2021, in the next few years, Maritime Information market size will be further expanded, we expect that by 2027.
The Study Objectives of Maritime Information Market Report Are:
- Focuses on the key Maritime Information manufacturers, to study the sales, value, market share, and development plans in the future.
- Focuses on the global key manufacturers, to define, describe and analyze the market competition landscape, SWOT analysis.
- To define, describe and forecast the market by type, application, and region.
- To analyze the opportunities in the market for stakeholders by identifying the high-growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To identify significant market trends and factors driving or inhibiting the market growth.
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The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, and recent developments in both historic and present contexts. The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information, and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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