Global Marine Internet of Things Market to Reach USD 27,265.69 Million by 2032 | CAGR of 17.2%
Category : IT And Telecommunications | Published Date : Jan 2025 | Type : Press Release
Marine Internet of Things Market Scope & Overview:
As per the Consegic Business Intelligence newly published report, the Marine Internet of Things Market size was valued at USD 7,680.35 million in 2024 and is projected to grow at a CAGR of 17.2%, reaching USD 27,265.69 million by 2032. The Marine IoT ecosystem integrates sensors, devices, and systems on ships, ports, and offshore platforms, enabling real-time monitoring, data collection, and analytics. This connectivity enhances efficiency, safety, and operational performance across various maritime applications such as vessel tracking, predictive maintenance, and cargo monitoring.
The report comprises the Marine Internet of Things Market Share, Size & Industry Analysis, based on Component (Hardware, Software, Services), Application (Vessel Tracking, Predictive Maintenance, Cargo Monitoring, Navigation & Route Optimization, Environmental Monitoring), Ship Type (Commercial, Defense), and Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2025-2032.
The report contains detailed information on Marine Internet of Things Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profiles, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
The increasing adoption of smart port technologies and advancements in autonomous shipping systems are propelling the market's growth.
Segmental Analysis :
Based on component, the market is segmented into Hardware, Software, and Services.
- The hardware segment accounted for the largest revenue share of 43.7% in 2024, driven by the demand for advanced sensors, GPS devices, and communication systems for efficient maritime operations.
- The services segment is projected to grow at the fastest rate, supported by increasing reliance on installation, maintenance, and predictive analytics services for seamless IoT integration.
Based on application, the market is segmented into Vessel Tracking, Predictive Maintenance, Cargo Monitoring, Navigation & Route Optimization, and Environmental Monitoring.
- The vessel tracking segment held the largest market share in 2024, attributed to its critical role in fleet management and compliance with maritime safety regulations.
- The predictive maintenance segment is expected to grow at the fastest CAGR, driven by the adoption of IoT solutions that optimize vessel reliability and reduce operational costs.
Based on ship type, the market is bifurcated into Commercial and Defense.
- The commercial segment dominated the market in 2024, driven by the adoption of IoT in cargo ships and tankers for real-time monitoring and operational efficiency.
- The defense segment is anticipated to grow significantly, fueled by increasing demand for IoT-enabled solutions in naval vessels for enhanced surveillance and mission-critical operations.
Based on regions, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
- Asia-Pacific: Accounted for the largest market share in 2024, led by the proliferation of international trade and smart port initiatives in China, Japan, and South Korea.
- North America: Expected to grow significantly, driven by advancements in IoT applications across commercial shipping and defense sectors.
| Report Attributes | Report Details |
| Study Timeline | 2019-2032 |
| Market Size in 2032 | USD 27,265.69 Million |
| CAGR (2025-2032) | 17.2% |
| Component | Hardware, Software, Services |
| Application | Vessel Tracking, Predictive Maintenance, Cargo Monitoring, Navigation & Route Optimization, Environmental Monitoring |
| Ship Type | Commercial, Defense |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Marine Internet of Things Industry:
- Cisco Systems, Inc. (USA)
- NTT Group (Japan)
- Accenture Plc. (Ireland)
- Ericsson AB (Sweden)
- Vodafone Group Plc (UK)
- Wärtsilä Oyj Abp (Finland)
- Dualog AS (Norway)
- Wilhelmsen Holding ASA (Norway)
- Orange Business Services (France)
- Marine Digital GmbH (Germany)
Recent Industry Developments :
- October 2024: Siren Marine, in collaboration with Yamaha, launched Siren 3, an IoT-enabled solution for small to mid-sized boats, offering real-time monitoring and control capabilities.
- December 2024: Vaisala introduced the WM80 ultrasonic wind sensor, designed for maritime applications to enhance safety and operational efficiency in extreme weather conditions.
