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Maritime Analytics Market Global Size Overview with $1,833.50 Million of Industry Revenue by 2027 - Shipnet, Sparkcognition, Spire Global, Sinay SAS
According to our latest market study on "Global Maritime Analytics Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Application (Optimal Route Mapping, Predictive and Prescriptive Analytics, Pricing Insights, Vessel Safety and Security, and Others) and End User (Commercial and Military), and Geography," the global maritime analytics market was valued at US$ 894.28million in 2019 and is expected to reach US$ 1,833.50 million by 2027; it is estimated to grow at a CAGR of 10.0% during 2020–2027.The report highlights key factors driving the market growth, and prominent players and their developments in the market.
Published 27 November 2020
In today’s digital age, the competition in various industries including maritime industry is very high and companies are continuously investing in solutions that could help them enhance operational productivity while reducing the overall costs. Hence, the demand for advanced solutions such as maritime data analytics has been growing at an impressive pace among commercial shippers and other end users. In shipping industry, big data issued to manage sensors on the ship and to perform predictive analysis to avoid any delays and to increase efficiency. Enhanced decision making owing to insights obtained by big data is actively being implemented to avoid and predict additional cost and it can be utilized across the ship’s lifecycle.
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COVID–19 Impact on Maritime Analytics Market
According to the World Health Organization (WHO), the US, Turkey, Brazil, Spain, Germany, Italy, France, the UK, Russia, Iran, India, and China are some of the worst affected countries due to the COVID-19 outbreak. The
COVID-19 pandemic is affecting the industries worldwide, and the global economy is anticipated to take the worst hit in 2020,which is likely to continue in 2021 as well. The outbreak has created significant disruptions in various industries, such as logistics, marine, and e-commerce. Logistics and transportation is an essential element for the smooth operations of any industry including FMCG, healthcare, retail, and automotive, among others, where shipping contributes a substantial share in the global logistics and transportation sector. The interruption in supply chains and logistics operations due to COVID-19 outbreak is affecting the growth of key shipping industry players operating globally.
Hamburg Port (Germany), Port of Cartagena (Columbia), Port of Rotterdam (The Netherlands), and several ports in South East Asia are actively using big data analytics solutions for their port and terminal operations. In June 2020, Windward, a maritime analytics company announced a new partnership with BP Shipping. Under this partnership, the company will deliver behavioral analytics data and other related insights to help BP Shipping in digitizing its trade practices related to sanctions compliance.
Strategic Insights
The players operating in the maritime analyticsmarket focus on strategies,such as mergers and acquisitions, product development, and market initiatives,to maintain their positions in the market. A few developmentsby key players are listed below:
In 2020,SparkCognition declared the expansion of their relationship with BP, to install AI predictive analytics in service of enhancingreliability and reducing carbon footprint in their operations.
In 2020, ABB Ltd. and DNV GL signed a new MOU to accelerate digitalization in the maritime industry. The MOU is expected to see ABB and DNV GL work together on a “Digitalization Roadmap”, for examining how the maritime industry can get benefited from the interconnectivity of systems, greater availability of data, data analysis, and new technologies such as AI and machine learning.
Buy Complete Report at https://www.theinsightpartners.com/buy/TIPRE00003041
Get Sample Brochure at https://www.theinsightpartners.com/sample/TIPRE00003041
COVID–19 Impact on Maritime Analytics Market
According to the World Health Organization (WHO), the US, Turkey, Brazil, Spain, Germany, Italy, France, the UK, Russia, Iran, India, and China are some of the worst affected countries due to the COVID-19 outbreak. The
COVID-19 pandemic is affecting the industries worldwide, and the global economy is anticipated to take the worst hit in 2020,which is likely to continue in 2021 as well. The outbreak has created significant disruptions in various industries, such as logistics, marine, and e-commerce. Logistics and transportation is an essential element for the smooth operations of any industry including FMCG, healthcare, retail, and automotive, among others, where shipping contributes a substantial share in the global logistics and transportation sector. The interruption in supply chains and logistics operations due to COVID-19 outbreak is affecting the growth of key shipping industry players operating globally.
Hamburg Port (Germany), Port of Cartagena (Columbia), Port of Rotterdam (The Netherlands), and several ports in South East Asia are actively using big data analytics solutions for their port and terminal operations. In June 2020, Windward, a maritime analytics company announced a new partnership with BP Shipping. Under this partnership, the company will deliver behavioral analytics data and other related insights to help BP Shipping in digitizing its trade practices related to sanctions compliance.
Strategic Insights
The players operating in the maritime analyticsmarket focus on strategies,such as mergers and acquisitions, product development, and market initiatives,to maintain their positions in the market. A few developmentsby key players are listed below:
In 2020,SparkCognition declared the expansion of their relationship with BP, to install AI predictive analytics in service of enhancingreliability and reducing carbon footprint in their operations.
In 2020, ABB Ltd. and DNV GL signed a new MOU to accelerate digitalization in the maritime industry. The MOU is expected to see ABB and DNV GL work together on a “Digitalization Roadmap”, for examining how the maritime industry can get benefited from the interconnectivity of systems, greater availability of data, data analysis, and new technologies such as AI and machine learning.
Buy Complete Report at https://www.theinsightpartners.com/buy/TIPRE00003041
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