Marine Communication Market Analysis and Global Forecast 2021-2034

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Marine Communication Market Research Report: Information By Service (Tracking and monitoring, Voice, Video, Data), By Component (Solutions, Services), By End User (Merchant Shipping, Fishing, Passenger Ships, Others), and by Region — Forecast till 2033

Page: 123

Report Published on: October 17, 2024
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Description

Marine Communication Market Overview

The Marine Communication Market Size is expected to reach USD 10.65 Billion by 2033. The Marine Communication Market industry size accounted for USD 0.94 Billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 5.24% from 2023 to 2033. The Marine Communication Market refers to the industry focused on technologies, systems, and solutions that enable communication in maritime environments. This market encompasses a range of communication devices and systems designed to ensure safety, navigation, and efficient operation for vessels at sea, in coastal areas, and at ports.

The marine communication market serves a wide range of vessels, including commercial ships, military vessels, recreational boats, and offshore offering. It is influenced by regulatory requirements, technological advancements, safety demands, and the need for efficient communication to support navigation, logistics, and fleet management.

Global Marine Communication Market Synopsis

Marine Communication MarketMarine Communication Market Dynamics

The major factors that have impacted the growth of Marine Communication Market are as follows:

Drivers:

Ø  Technological Advancements

Innovations in communication technologies, including satellite systems, digital radio, and integrated maritime communication solutions, are propelling the market. These advancements offer enhanced data transmission, real-time monitoring, and improved navigation support. Rising concerns about maritime security, including piracy, illegal fishing, and smuggling, drive the need for advanced communication systems to improve situational awareness, vessel monitoring, and emergency response. The shift toward smart shipping, digital fleets, and automation of vessel operations is creating demand for more sophisticated communication tools, such as satellite communication and IoT-enabled devices, to enhance operational efficiency.

Restraint:

  • Perception of High Installation and Maintenance Costs

Advanced marine communication systems, especially satellite-based and integrated solutions, can be expensive to install, maintain, and upgrade. This is particularly challenging for smaller vessels and companies with limited budgets. There is a significant technological gap between modern and older vessels. Retrofitting older vessels with advanced communication technologies can be costly and time-consuming, acting as a deterrent for some operators.

Opportunity

⮚   Growth in Autonomous Vessels

The rise of autonomous and semi-autonomous vessels creates a demand for advanced communication systems that can ensure seamless connectivity and data transfer for remote monitoring and control. The expansion of offshore wind farms, tidal, and wave energy projects requires robust communication solutions for remote monitoring, control, and data collection, offering opportunities for specialized communication systems tailored to renewable energy applications.

Marine Communication Market Segment Overview

By Service

Marine Communication Market Services AnalysisBased on Service, the market is segmented based on Tracking and monitoring, Voice, Video and Data. The Tracking and monitoring segment dominant the market. The tracking and monitoring segment dominated the global maritime satellite market (by service) in, since maritime satellites provide constant, worldwide coverage, which is required for real-time vessel tracking and marine environmental monitoring. This capacity improves ship safety and security in international seas, allowing for more quick responses to crises and pirate concerns.

By Component

Based on Component, the market has been divided into Solutions and Services. The Services segment dominant the market.

By End user

Based on End User, the market has been divided into Merchant Shipping, Fishing, Passenger Ships and Others. The merchant shipping segment dominant the market. This is because they enable dependable global communication and data transmission capabilities across enormous expanses of the ocean. These technologies keep vessels in continual touch with shore-based operations, which improves navigational safety, operational efficiency, and regulatory compliance.

Global Marine Communication Market Regional Analysis

Based on region, the global Marine Communication Market has been divided into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. North America is projected to dominate the use of the Marine Communication Market followed by the Asia-Pacific and Europe regions.

Global Marine Communication Market Regional AnalysisGlobal Marine Communication North America Market

North America holds a dominant position in the Marine Communication Market. North America, particularly the United States and Canada, has a well-established marine communication market driven by a strong maritime industry and advanced technological infrastructure. High adoption of advanced technologies like satellite communication, AIS, and GMDSS due to the region’s focus on safety, security, and operational efficiency and the North American marine communication market is characterized by stable growth, driven by the region’s robust maritime industry and the need for reliable communication systems for offshore operations.

Global Marine Communication Asia-Pacific Market

The Asia-Pacific region has indeed emerged as the fastest-growing market for the Marine Communication Market industry. The Asia-Pacific region is witnessing the fastest growth in the marine communication market due to its booming maritime industry, expanding trade routes, and increasing investments in infrastructure development. China and India are major contributors to the regional market growth, with a strong focus on modernizing their maritime fleets and enhancing communication capabilities and significant investments in port infrastructure and naval modernization in the region are enhancing market opportunities.

Competitive Landscape

The global Marine Communication Market is highly competitive, with numerous players offering a wide range of software solutions. The competitive landscape is characterized by the presence of established companies, as well as emerging startups and niche players. To

Prominent Players:

  • Inmarsat
  • Iridium Communications
  • Thuraya
  • Hughes Network Systems
  • KVH Industries
  • Viasat
  • Speedcast
  • NSSLGlobal
  • Marlink
  • Navarino

Key Development

In January 2024, Singtel added Starlink’s LEO satellite broadband connectivity service to assist its maritime customers. This would promote the adoption of digital solutions by vessel owners and commercial ship operators to adopt such technologies and would help the company introduce more technologies such as artificial intelligence (AI), 5G, and edge computing for their end users.

In March 2024, Iceye, a company that manufactures and manages a constellation of microsatellites equipped with synthetic aperture radar (SAR) sensors, introduced Ocean Vision, a new marine surveillance product. The service is intended to offer extensive monitoring of the world’s seas.

Scope of the Report

Global Marine Communication Market, by Service
  • Tracking and monitoring
  • Voice
  • Video
  • Data
Global Marine Communication Market, by Component
  • Solution
  • Services
Global Marine Communication Market, by End User
  • Merchant Shipping
  • Fishing
  • Passenger Ships
  • Others
Global Marine Communication Market, by Region
  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Benelux
    • Nordic
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • Indonesia
    • Austalia
    • Malaysia
    • India
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of Middle East & Africa

 

Parameters Indicators
Market Size 2033: $10.65 Billion
CAGR 5.24% CAGR (2023-2033)
Base year 2022
Forecast Period 2023-2033
Historical Data 2021
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Key Segmentations Service, Component, End User
Geographies Covered North America, Europe, Asia-Pacific, Latin America, Middle East, Africa
Key Vendors Inmarsat, Iridium Communications, Thuraya, Hughes Network Systems, KVH Industries, Viasat, Speedcast, NSSLGlobal, Marlink and Navarino
Key Market Opportunities • Growth in Autonomous Vessels
• Marine Renewable Energy Projects
Key Market Drivers • Technological Advancements
• Increased Focus on Maritime Security

 

REPORT CONTENT BRIEF:

  • High-level analysis of the current and future Marine Communication Market trends and opportunities
  • Detailed analysis of current market drivers, restraining factors, and opportunities in the future
  • Marine Communication Market historical market size for the year 2021, and forecast from 2023 to 2033
  • Marine Communication Market share analysis at each product level
  • Competitor analysis with detailed insight into its product segment, Government & Defense strength, and strategies adopted.
  • Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.
  • To identify and understand the various factors involved in the global Marine Communication Market affected by the pandemic
  • To provide a detailed insight into the major companies operating in the market. The profiling will include the Government & Defense health of the company’s past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

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Frequently Asked Questions (FAQ)

The global Marine Communication Market is growing at a CAGR of 5.24% over the next 10 years

Asia Pacific is expected to register the highest CAGR during 2021-2034

North America holds the largest share in 2022

Inmarsat, Iridium Communications, Thuraya, Hughes Network Systems, KVH Industries, Viasat, Speedcast, NSSLGlobal, Marlink and Navarino are the major companies operating in the market.

Yes, we offer 16 hours of analyst support to solve the queries

Yes, we provide regional as well as country-level reports. Other than this we also provide a sectional report. Please get in contact with our sales representatives

Table of Content

Table of Content

Chapter 1.   Executive Summary

Chapter 2.   Scope Of The Study

                     2.1.   Market Definition

                     2.2.   Scope Of The Study

                               2.2.1.   Objectives of Report

Chapter 3.   Evolve BI Methodology

Chapter 4.   Market Insights and Trends

                     4.1.   Supply/ Value Chain Analysis

                     4.2.   Porter’s Five Forces Analysis

                               4.2.1.   Threat Of New Entrants

                               4.2.2.   Bargaining Power Of Buyers

                               4.2.3.   Bargaining Power Of Suppliers

                               4.2.4.   Threat Of Substitutes

                               4.2.5.   Industry Rivalry

                     4.3.   Impact of COVID-19 on Marine Communication Market

                               4.3.1.   Impact on Market Size

                               4.3.2.   End User Trend, Preferences and Budget Impact

                               4.3.3.   Regulatory Framework/Government Policies

                               4.3.4.   Key Players Strategy to Tackle Negative Impact

                               4.3.5.   Opportunity Window

Chapter 5.   Market Dynamics

                     5.1.   Introduction

                     5.2.   DRO Analysis

                               5.2.1.   Drivers

                               5.2.2.   Restraints

                               5.2.3.   Opportunities

Chapter 6.   Global Marine Communication Market, By Service

                     6.1.   Introduction

                     6.2.   Tracking and monitoring

                     6.3.   Voice

                     6.4.   Video

                     6.5.   Data

Chapter 7.   Global Marine Communication Market, By Component

                     7.1.   Introduction

                     7.2.   Solutions

                     7.3.   Services

Chapter 8.   Global Marine Communication Market, By End User

                     8.1.   Introduction

                     8.2.   Merchant Shipping

                     8.3.   Fishing

                     8.4.   Passenger Ships

                     8.5.   Others

Chapter 9.   Global Marine Communication Market, By Region

                     9.1.   Introduction

                     9.2.   North America

                               9.2.1.   Introduction

                               9.2.2.   Driving Factors, Opportunity Analyzed and Key Trends

                               9.2.3.   Market Size and Forecast, By Country, 2020 - 2028

                               9.2.4.   Market Size and Forecast, By Service, 2020 - 2028

                               9.2.5.   Market Size and Forecast, By Component, 2020 – 2028

                               9.2.6.   Market Size and Forecast, By End User, 2020 – 2028

                               9.2.7.   US

                                              9.2.7.1.   Introduction

                                              9.2.7.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              9.2.7.3.   Market Size and Forecast, By Service, 2020 - 2028

                                              9.2.7.4.   Market Size and Forecast, By Component, 2020 – 2028

                                              9.2.7.5.   Market Size and Forecast, By End User, 2020 - 2028

                               9.2.8.   Canada

                                              9.2.8.1.   Introduction

                                              9.2.8.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              9.2.8.4.   Market Size and Forecast, By Service, 2020 - 2028

                                              9.2.8.5.   Market Size and Forecast, By Component, 2020 – 2028

                                              9.2.8.6.   Market Size and Forecast, By End User, 2020 - 2028

                     9.3.   Europe

                               9.3.1.   Introduction

                               9.3.2.   Driving Factors, Opportunity Analyzed and Key Trends

                               9.3.3.   Market Size and Forecast, By Country, 2020 - 2028

                               9.3.4.   Market Size and Forecast, By Service, 2020 - 2028

                               9.3.5.   Market Size and Forecast, By Component, 2020 – 2028

                               9.3.6.   Market Size and Forecast, By End User, 2020 – 2028

                               9.3.7.   Germany

                                              9.3.7.1.   Introduction

                                              9.3.7.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              9.3.7.3.   Market Size and Forecast, By Service, 2020 - 2028

                                              9.3.7.4.   Market Size and Forecast, By Component, 2020 – 2028

                                              9.3.7.5.   Market Size and Forecast, By End User, 2020 - 2028

                               9.3.8.   France

                                              9.3.8.1.   Introduction

                                              9.3.8.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              9.3.8.3.   Market Size and Forecast, By Service, 2020 - 2028

                                              9.3.8.4.   Market Size and Forecast, By Component, 2020 – 2028

                                              9.3.8.5.   Market Size and Forecast, By End User, 2020 - 2028

                               9.3.9.   UK

                                              9.3.9.1.   Introduction

                                              9.3.9.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              9.3.9.3.   Market Size and Forecast, By Service, 2020 - 2028

                                              9.3.9.4.   Market Size and Forecast, By Component, 2020 – 2028

                                              9.3.9.5.   Market Size and Forecast, By End User, 2020 - 2028

                               9.3.10.   Italy

                                              9.3.10.1.   Introduction

                                              9.3.10.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              9.3.10.3.   Market Size and Forecast, By Service, 2020 - 2028

                                              9.3.10.4.   Market Size and Forecast, By Component, 2020 – 2028

                                              9.3.10.5.   Market Size and Forecast, By End User, 2020 - 2028

                               9.3.11.   Rest Of Europe

                                              9.3.11.1.   Introduction

                                              9.3.11.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              9.3.11.3.   Market Size and Forecast, By Service, 2020 - 2028

                                              9.3.11.4.   Market Size and Forecast, By Component, 2020 – 2028

                                              9.3.11.5.   Market Size and Forecast, By End User, 2020 - 2028

                     9.4.   Asia-Pacific

                               9.4.1.   Introduction

                               9.4.2.   Driving Factors, Opportunity Analyzed and Key Trends

                               9.4.3.   Market Size and Forecast, By Country, 2020 - 2028

                               9.4.4.   Market Size and Forecast, By Service, 2020 - 2028

                               9.4.5.   Market Size and Forecast, By Component, 2020 – 2028

                               9.4.7.   Market Size and Forecast, By End User, 2020 - 2028

                               9.4.8.   China

                                              9.4.8.1.   Introduction

                                              9.4.8.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              9.4.8.3.   Market Size and Forecast, By Service, 2020 - 2028

                                              9.4.8.4.   Market Size and Forecast, By Component, 2020 – 2028

                                              9.4.8.5.   Market Size and Forecast, By End User, 2020 - 2028

                               9.4.9.   India

                                              9.4.9.1.   Introduction

                                              9.4.9.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              9.4.9.3.   Market Size and Forecast, By Service, 2020 - 2028

                                              9.4.9.4.   Market Size and Forecast, By Component, 2020 – 2028

                                              9.4.9.5.   Market Size and Forecast, By End User, 2020 - 2028

                               9.4.10.   Japan

                                              9.4.10.1.   Introduction

                                              9.4.10.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              9.4.10.3.   Market Size and Forecast, By Service, 2020 - 2028

                                              9.4.10.4.   Market Size and Forecast, By Component, 2020 – 2028

                                              9.4.10.5.   Market Size and Forecast, By End User, 2020 - 2028

                               9.4.11.   South Korea

                                              9.4.11.1.   Introduction

                                              9.4.11.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              9.4.11.3.   Market Size and Forecast, By Service, 2020 - 2028

                                              9.4.11.4.   Market Size and Forecast, By Component, 2020 – 2028

                                              9.4.11.5.   Market Size and Forecast, By End User, 2020 - 2028

                               9.4.12.   Rest Of Asia-Pacific

                                              9.4.11.1.   Introduction

                                              9.4.12.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              9.4.12.3.   Market Size and Forecast, By Service, 2020 - 2028

                                              9.4.12.4.   Market Size and Forecast, By Component, 2020 – 2028

                                              9.4.12.5.   Market Size and Forecast, By End User, 2020 - 2028

                     9.5.   Rest Of The World (RoW)

                               9.5.1.   Introduction

                               9.5.2.   Driving Factors, Opportunity Analyzed and Key Trends

                               9.5.3.   Market Size and Forecast, By Service, 2020 - 2028

                               9.5.4.   Market Size and Forecast, By Component, 2020 – 2028

                               9.5.5.   Market Size and Forecast, By End User, 2020 - 2028

                               9.5.6.   Market Size and Forecast, By Region, 2020 - 2028

                               9.5.7.   South America

                                              9.5.7.1.   Introduction

                                              9.5.7.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              9.5.7.3.   Market Size and Forecast, By Service, 2020 - 2028

                                              9.5.7.4.   Market Size and Forecast, By Component, 2020 – 2028

                                              9.5.7.5.   Market Size and Forecast, By End User, 2020 - 2028

                               9.5.8.   Middle East & Africa

                                              9.5.8.1.   Introduction

                                              9.5.8.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              9.5.8.3.   Market Size and Forecast, By Service, 2020 - 2028

                                              9.5.8.4.   Market Size and Forecast, By Component, 2020 – 2028

                                              9.5.8.5.   Market Size and Forecast, By End User, 2020 - 2028

Chapter 10.   Competitive Landscape

                     10.1.   Introduction

                     10.2.   Vendor Share Analysis, 2020/Key Players Positioning 2020

Chapter 11.   Company Profiles

                     11.1.   Inmarsat

                               11.1.1.   Business Overview

                               11.1.2.   Financial Analysis

                               11.1.3.   Product Portfolio

                               11.1.4.   Recent Development and Strategies Adopted

                               11.1.5.   SWOT Analysis

                     11.2.   Iridium Communications

                               11.2.1.   Business Overview

                               11.2.2.   Financial Analysis

                               11.2.3.   Product Portfolio

                               11.2.4.   Recent Development and Strategies Adopted

                               11.2.5.   SWOT Analysis

                     11.3.   Thuraya

                               11.3.1.   Business Overview

                               11.3.2.   Financial Analysis

                               11.3.3.   Product Portfolio

                               11.3.4.   Recent Development and Strategies Adopted

                               11.3.5.   SWOT Analysis

                     11.4.   Hughes Network Systems

                               11.4.1.   Business Overview

                               11.4.2.   Financial Analysis

                               11.4.3.   Product Portfolio

                               11.4.4.   Recent Development and Strategies Adopted

                               11.4.5.   SWOT Analysis

                     11.5.   KVH Industries

                               11.5.1.   Business Overview

                               11.5.2.   Financial Analysis

                               11.5.3.   Product Portfolio

                               11.5.4.   Recent Development and Strategies Adopted

                               11.5.5.   SWOT Analysis

                     11.6.   Viasat

                               11.6.1.   Business Overview

                               11.6.2.   Financial Analysis

                               11.6.3.   Product Portfolio

                               11.6.4.   Recent Development and Strategies Adopted

                               11.6.5.   SWOT Analysis

                     11.7.   Speedcast

                               11.7.1.   Business Overview

                               11.7.2.   Financial Analysis

                               11.7.3.   Product Portfolio

                               11.7.4.   Recent Development and Strategies Adopted

                               11.7.5.   SWOT Analysis

                     11.8.   NSSLGlobal

                               11.8.1.   Business Overview

                               11.8.2.   Financial Analysis

                               11.8.3.   Product Portfolio

                               11.8.4.   Recent Development and Strategies Adopted

                               11.8.5.   SWOT Analysis

                     11.9.   Marlink

                               11.9.1.   Business Overview

                               11.9.2.   Financial Analysis

                               11.9.3.   Product Portfolio

                               11.9.4.   Recent Development and Strategies Adopted

                               11.9.5.   SWOT Analysis

                     11.10.   Navarino

                               11.10.1.   Business Overview

                               11.10.2.   Financial Analysis

                               11.10.3.   Product Portfolio

                               11.9.4.   Recent Development and Strategies Adopted

                               11.9.5.   SWOT Analysis

 

Chapter 12.   Key Takeaways

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