Marine and Marine Management Software Market Share, Size, Trends, Industry Analysis Report, By Component (Software, Services); By Location (Onshore, Onboard), By Deployment Mode; By Application; By Region; Segment Forecast, 2022 - 2030
- Published Date:Jan-2022
- Pages: 115
- Format: PDF
- Report ID: PM2232
- Base Year: 2021
- Historical Data: 2018 - 2020
Report Outlook
The global marine and marine management software market was valued at USD 1.75 billion in 2021 and is expected to grow at a CAGR of 11.0% during the forecast period. Marine management software monitors complex logistics operations and maintains customer and product information from the database, which may be accessed before beginning export and import operations from one country to another.
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Advanced maritime fleet management software is installed on the fleet employed in export and import operations. The projected rise in sea fleets looking to expand their business globally through export and import activities is expected to boost the global marine and marine management software market. The growth in the industry is being driven by the rising demand for the maritime managing system, and major players focus on various strategies such as collaborations, partnerships, and launches with advanced technology.
For instance, in February 2021, in Turkey and Saudi Arabia, ABB announced plans to expand its ports business division. The expansion enabled ABB Marine & Ports to serve its growing client base in each country while bolstering efforts to improve productivity and sustainability in shipping, ports, and offshore sectors. ABB has targeted the local talent pipeline in both nations and ensured that substantial assistance is always available to ship-owners, shipyards, terminals, and ship agents.
Besides, in April 2021, Lloyd's Register, a financial advisory company specializing in engineering and technology solutions, has teamed up with Falkonry, a market leader in operational AI, to incorporate its forecasting digital twins with investment performance and risk management solutions for heavy industry, such as chemicals and oil & gas. Falkonry's Operational AI Digital Twin solution, Clue, was used in the technological partnership to identify effective operational and provide instantaneous alerts on the suspect and unwanted behavior. Thus, the major players' AI-based solutions and expansion of locations have boosted the growth.
However, the pandemic has put the shipping and maritime industries in the worst possible position since their workforces have been shut down for the sake of safety and preventing the spread of COVID-19. According to the European Maritime Safety Agency (EMSA), 53,035 ships were called at EU ports in January 2020, up from 49,908 in January 2021. Compared to the previous year, the number of calls dropped by 6%. The pandemic has sent shockwaves across supply chains, transportation networks, and ports, causing cargo volumes to plunge and growth hopes to be frustrated.
In response to pandemic-related interruptions, players in this sector modified their operations, budgets, hygienic and safety measures, and working methods and processes. With the rise of digitization and the ongoing pandemic, there is a rise in cybersecurity concerns, as well as disruptions in supply chains and services throughout the global maritime sector.
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Industry Dynamics
Growth Drivers
The marine and marine management software market has observed developments in the last few decades, supported by factors such as the rising adoption of cloud-based deployments to manage transportation operations. Maritime management encompasses all support services that enable marinas to operate at sea, from crewing and training to procurement and bunkering. Companies increasingly recognize the numerous advantages given by various technologies, one of which is cloud computing.
For instance, in July 2021, ABB has launched ABB Ability Marine Fleet Intelligence, Advisory, a new digital platform for optimizing vessel efficiency across fleets. To deliver user-friendly visualizations, the single platform integrates reporting with the capability of Cloud-based analytics. The platform, available as a software as a service (SaaS), may collect data from many vessel systems. It can then display a concise overview of all data acquired from onboard systems.
Additionally, workforces all across the world benefit from cloud computing technology as it simplifies operations, communications, and collaboration. The cloud-based systems provide the most recent versions, new features, and global market support. Customers may focus on their business while using cloud-based maritime management software, which allows them to address any incoming concerns quickly, automate software version changes, and guarantee rigorous security.
Few manufacturers offer cloud-based marina management software that automates time-consuming and repetitive marina administration tasks. As a result, the maritime management system market's growth of cloud computing technology is likely to dominate the adoption of the industry in the near future.
Report Segmentation
The market is primarily segmented based on component, deployment mode, application, location, and region.
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By Component |
By Deployment Mode |
By Application |
By Location |
By Region |
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Insight by Component
Based on the component, the software market segment is likely to be the most significant revenue contributor in the global marine and marine management software market in 2021 and is expected to retain its dominance in the foreseen period. The adoption of the software is becoming increasingly important for the shipping sector since it allows enterprises to automate and track vessel performance while increasing overall productivity. On a consolidated dashboard, the maritime program enables administrators to generate and track orders, shipping supply chain bottlenecks, performance statistics, and fore-seeing new business opportunity potentials to generate positive profit margins.
Geographic Overview
In terms of geography, North America had the highest share in the global market in 2021. The market for the North American region is anticipated to grow significantly as a result of the rising technological advancements in the region. Technological advancements in shipbuilding, propulsion, smart shipping, innovative materials, big data and analytics, robots, sensors, and communications, as well as an increasingly skilled workforce, are all affecting how the business approaches new prospects.
Also, the market is likely to grow further due to the increasing number of maritime management software companies across regions. For instance, in October 2021, At the Fort Lauderdale International Boat Show, ZF presents its latest developments for the pleasure craft industry (FLIBS). ZF will introduce TotalCommand, an all-new propulsion control platform with additional functions to complement ZF's industry-leading communication infrastructure, for the first time in North America at the event.
Moreover, APAC is anticipated to witness a high CAGR in the global market in 2021. Smaller market companies now have greater options to sell their products to a wider range of shipping companies. Companies in the region are working to improve their shipping operations to increase market competitiveness and revenue growth. China, India, and Singapore have shown tremendous growth potential in the region.
Competitive Insight
Some of the major players operating in the global market include ABB, Ayden Marine, Chetu, CorVant, Dockmaster, Innovez One, Lloyd’s Register, Marina Cloud, Marina Master, Mespas, Oceanmanager, Oracle, Raymarine, Scribble Software, and Timezero.
Marine and Marine Management Software Market Report Scope
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Report Attributes |
Details |
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Market size value in 2021 |
USD 1.75 billion |
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Revenue forecast in 2030 |
USD 4.30 billion |
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CAGR |
11.0% from 2022 - 2030 |
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Base year |
2021 |
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Historical data |
2018 - 2020 |
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Forecast period |
2022 - 2030 |
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Quantitative units |
Revenue in USD million/billion and CAGR from 2022 to 2030 |
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Segments covered |
By Component, By Deployment Mode, By Application, By Location, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Key companies |
ABB, Ayden Marine, Chetu, CorVant, Dockmaster, Innovez One, Lloyd’s Register, Marina Cloud, Marina Master, Mespas, Oceanmanager, Oracle, Raymarine, Scribble Software, and Timezero. |
