Dublin, Feb. 16, 2024 (GLOBE NEWSWIRE) -- The "Global Maritime Analytics Market: Analysis By Application, By End User, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2028" report has been added to ResearchAndMarkets.com's offering.
The recent analytical study on the Global Maritime Analytics Market offers a detailed examination of market dynamics, growth drivers, and emerging trends shaping the industry's trajectory through 2028. This analysis delves into the profound impact of technological advancements and COVID-19, providing an indispensable resource for stakeholders within the maritime sector.
According to the report, the maritime analytics market has achieved a valuation of US$1.20 billion in 2022 and is forecasted to climb to an impressive US$2.44 billion by 2028. With a compound annual growth rate (CAGR) of 13.6%, the sector's growth is fueled by factors such as increased seaborne trade, demand for vessel efficiency, and environmental sustainability concerns.
In an in-depth segmentation analysis, the report highlights that predictive and prescriptive analytics hold a dominant position in the application segment, revolutionizing the industry with advanced forecasting capabilities and operational enhancements. Furthermore, the research shows that the commercial shipping segment is propelling market dynamics, driven by a necessity for data-driven optimization in maritime logistics and operations.
Regional Insights and Competitive Analysis
- North America remains a leading force in the maritime analytics domain, boasting technological innovation and extensive maritime activity.
- Meanwhile, the Asia Pacific region emerges as the fastest-growing segment, with countries like China, Japan, South Korea, and India contributing to an accelerated growth pace due to strategic initiatives and an emphasis on operational efficiency.
The research report offers a comprehensive overview of the challenges and opportunities present in the market, including the escalated risk of cyber threats and the shortage of skilled professionals that could potentially hinder market progress. However, the integration of Internet of Things (IoT), artificial intelligence, and cloud-based solutions stands out as major trends bolstering the market's future.
The global pandemic's effects on maritime analytics were substantial, but the market has shown resilience. Digital transformation, spurred by the crisis, has encouraged a shift towards analytics-based solutions to manage uncertainty and foster recovery and growth in the post-pandemic era.
The landscape of the global maritime analytics market is fragmented and competitive, with key players such as Wärtsilä Oyj Abp, ABB Limited, and Spire Global innovating and forging strategic partnerships to enhance their market presence and address the complex needs of the maritime industry.
This comprehensive analysis underscores the immense potential and strategic importance of maritime analytics as a lynchpin for informed decision-making across the globe, facilitating a more efficient, safe, and sustainable maritime industry in the years to come.
Companies Profiled in the Report:
- Wartsila
- ABB
- Spire Global.
- Windward
- SparkCognition
- RightShip
- Prisma Electronics
- ShipNet
- Veson Nautical
- Kpler
- OrbitMI
- Amplify Mindware
For more information about this report visit https://www.researchandmarkets.com/r/j7wrhc
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