The global marine and marine management software market size is expected to reach USD 4.30 billion by 2030 according to a new study by Polaris Market Research. The report “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” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The key factors responsible for the market growth include the growing need to manage complex supply chain operations efficiently and increased sustainability in the maritime industry. As consumer demand grows, global supply networks are growing and getting more complex. The rising demand for products, commodities and raw materials has a direct influence on the environment. Maritime businesses must employ new techniques to streamline their supply chain and enhance productivity in today's highly competitive market.
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Additionally, end-users may easily arrange inventory data digitally, monitor and manage the shipment and tracking information, and issue electronic invoices with maritime software that incorporates cutting-edge technologies like AI, Big Data, and Analytics. Furthermore, as transporters attempt to maintain quality of service while cutting costs and maintaining operational sustainability, more stringent safety regulations continue to have an impact on the maritime transportation sector.
Based on the deployment mode, the cloud-based segment accounted for the leading share in the market in 2021. The cloud-based deployment enables organizations to analyze and report data results more quickly, improve collaboration, and provide decision-makers with faster access to business analytics, resulting in increased adoption of the market around the world.
Also, in February 2020, Oracle and Microsoft have added a new cloud interconnect center in Amsterdam to their cloud partnership. These companies were able to communicate data across Microsoft Azure, and Oracle Cloud apps due to the recent Amsterdam interconnect. The main purpose of the partnership is to make it faster and easier for businesses to migrate their on-premise workloads to the cloud that best meets the application's demands. This type of initiative is also boosting segmental growth.
In February 2021, Marina Master offered automatic contactless online payment that is faster and more convenient. A URL is used to make the payment. Marina Master is compatible with a variety of payment gateways, including FreedomPay, Merchant Warrior, and others. The integration of FreedomPay resulted in this solution.
Polaris Market Research has segmented the marine and marine management software market report based on component, deployment mode, application, location, and region:
Marine and Marine Management Software, Component Outlook (Revenue - USD Billion, 2018 - 2030)
Marine and Marine Management Software, Deployment Mode Outlook (Revenue - USD Billion, 2018 - 2030)
Marine and Marine Management Software, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Marine and Marine Management Software, Location Outlook (Revenue - USD Billion, 2018 - 2030)
Marine and Marine Management Software, Regional Outlook (Revenue - USD Billion, 2018 - 2030)