Market Size of Boat and Ship Telematics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | > 20.00 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Boat & Ship Telematics Market Analysis
The boat and ship telematics market is expected to exhibit a growth rate of over 20% during the forecast period 2020-2025.
With the rapid increase in international sea trade, new opportunities are not only arising for ship and vessel operators but also brings new challenges such as maintaining return on investment. Therefore, fleet management and logistic management is becoming really necessary to develop cost-effective supply chains. Telematics helps in collecting, analyzing and visualizing the data that is generated from various marine operations and owing to this factor, the boat and ship telematics market is on the rise.
Safety and security concerns are on the rise due to an increase in valuable goods shipment, rise in ocean traffic, VIP transport, piracy activities, etc. as these can lead to a conscious and probabilistic hazard. The telematics systems have the ability to identify and mitigate the oncoming hazard and this factor is propelling the market growth.
In order to curb the increase in cargo and human life losses, collision and other mishaps at sea caused by human error, companies such as Rolls Royce, etc. are working on remotely controlled autonomous ships that are expected to be in waters by 2025 and fully autonomous ships are expected to arrive by 2035. However, fully autonomous cargo and passenger ships are many years away, companies have started implementing telematics technology in ships for short travel applications. In December 2018, Rolls Royce and Finferries of Finland demonstrated the use of fully autonomous ferry ship Falco which performed automatic berthing using newly developed autonomous navigation system. This factor is expected to fuel the market growth for marine telematics Industry.
Boat & Ship Telematics Industry Segmentation
The boat and ship telematics market covers the latest trends and technological development in the boat and ship telematics, demand for various segments f the market such as application, function and component types across geographies, along with the market shares of the major boat and ship telematics manufacturers and service providers across the world.
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| Navigation | |
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| Monitoring | |
| Data Collection |
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| Software |
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Boat and Ship Telematics Market Size Summary
The boat and ship telematics market is experiencing significant growth, driven by the increasing complexity of global supply chains and the need for efficient fleet and logistics management. As international sea trade expands, telematics systems are becoming essential for collecting, analyzing, and visualizing data from marine operations, thereby enhancing cost-effectiveness and supply chain efficiency. Safety and security concerns, such as piracy and the transport of valuable goods, are also propelling market growth, as telematics systems can identify and mitigate potential hazards. The development of remotely controlled and autonomous ships by companies like Rolls Royce is further fueling the market, as these technologies rely heavily on advanced telematics for navigation and operation.
In the Asia Pacific region, the telematics market is poised for substantial growth due to the area's rapid economic development and its pivotal role in global trade. The region's strategic importance is underscored by initiatives like China's Gwadar Port development and India's Chabahar port project, which enhance inter-regional trade and maritime defense. Despite challenges such as high shipping losses and increased traffic, the demand for telematics is rising, driven by the need for improved safety and efficiency. The market is characterized by consolidation, with key players like Sentinel, Boat Command, and Traxens leading the way. Partnerships, such as Traxens' collaboration with TKS in Indonesia, highlight the industry's focus on integrating tracking telematics into shipping containers, further advancing the market's growth trajectory.
Boat and Ship Telematics Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porters Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Application
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2.1.1 Commercial
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2.1.2 Private
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2.1.3 Defense
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2.2 Function
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2.2.1 Navigation
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2.2.2 Communication
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2.2.3 Monitoring
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2.2.4 Data Collection
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2.3 Component
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2.3.1 Hardware
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2.3.2 Software
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2.4 Geography
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2.4.1 Asia Pacific
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2.4.1.1 India
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2.4.1.2 China
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2.4.1.3 Japan
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2.4.1.4 Rest of Asia Pacific
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2.4.2 North America
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2.4.2.1 United States Of America
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2.4.2.2 Canada
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2.4.3 Europe
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2.4.3.1 France
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2.4.3.2 United Kingdom
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2.4.3.3 Germany
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2.4.3.4 Russia
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2.4.3.5 Spain
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2.4.4 Rest of the World
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2.4.4.1 Brazil
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2.4.4.2 Argentina
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2.4.4.3 UAE
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2.4.4.4 Other Countries
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Boat and Ship Telematics Market Size FAQs
What is the current Boat and Ship Telematics Market size?
The Boat and Ship Telematics Market is projected to register a CAGR of greater than 20% during the forecast period (2024-2029)
Who are the key players in Boat and Ship Telematics Market?
Technoton JV, AST MSL, Boatcommand, Sentinel Marine Solutions and Navis Technologies are the major companies operating in the Boat and Ship Telematics Market.
