Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Marine Internet of Things Market size was USD 6.9 billion in 2024 and is estimated to reach USD 28.5 billion by the end of 2037, expanding at a CAGR of 18.2% during the forecast period, i.e., 2025-2037. In 2025, The industry size of the marine internet of things is assessed at USD 8.3 billion by the end of 2025.
The production and commercialization of marine Internet of Things (IoT) technologies are expected to be influenced by the supply chain of electronic sensors, embedded systems, and connectivity solutions. The technologically advanced countries, such as Japan, South Korea, the U.S., and Germany, are leading the exports of main marine IoT components such as ruggedized processors and marine-grade antennas. The U.S. Census Bureau projects that in 2023, the imports of navigational instruments and related marine electronics crossed USD 3.7 billion. According to the same source, the majority of imports, around 47.5% were originated from Asia Pacific.
The U.S. Bureau of Labor Statistics (BLS) reveals that in 2024, the producer price index of navigational, measuring, electromedical, and control instruments grew by 4.4% YoY. Continuous technological innovations in raw materials are poised to boost the introduction of advanced marine IoT final products in the coming years. The U.S. Department of Defense in FY2025 allocated around USD 2.5 billion for the expansion of advanced technologies. The growth in marine budgets is also backing the sales of advanced IoT solutions.
Marine Internet of Things (IoT) Market: Growth Drivers and Restraints
Growth Drivers
- Smart port infrastructure: The digitalization trends are focused on enhancing the operations of the marine sector through the installation of advanced IoT solutions. The Research Nester’s study estimates that the port digitalization initiatives are anticipated to register a CAGR of 19.6% through 2030. This growth is mainly set to be led by Singapore, Rotterdam, and Busan, owing to high government funding. The developing regions are also expected to witness a robust development in their marine sector. In March 2022, the Ministry of Ports, Shipping, and Waterways, India, revealed the allocation of around USD 13.5 billion for port modernization. Such a huge capital expenditure in the marine sector is estimated to offer fruitful earning opportunities for key marine internet of things market players.
- Maritime connectivity expansion: Manufacturers are continuously investing in robust connectivity networks to enhance real-time IoT data streaming in international waters. Various marine satellite programs, including EU Galileo and Starlink Maritime, are aiding the end users in expanding their connectivity networks. The marine internet of things market players are also leveraging these programs to expand their satellite broadband to cargo fleets. The government-based programs, such as CASSINI Space Initiative and Japan’s Quasi-Zenith Satellite System (QZSS), are also contributing to the enhancement of marine connectivity.
Technological Innovations in the Marine Internet of Things Industry
Many end users are investing heavily in technologically advanced IoT solutions to boost their marine operations. Favorable government policies and funding programs are expected to promote the sales of advanced marine IoT solutions during the foreseeable period. The table below highlights the integration and outcome of innovative IoT solutions in the marine fleets.
|
Technology |
Industry |
Company/Example |
Adoption Rate/Outcome |
|
AI for Predictive Maintenance |
Offshore Manufacturing |
Rolls-Royce Marine |
22.5% cut in unscheduled downtime |
|
Satellite IoT Connectivity |
Telecom/Shipping |
Maersk + Starlink |
Deployed across 331 vessels in 2024 for real-time telemetry |
|
Blockchain for Cargo Provenance |
Finance/Trade |
IBM + Pacific International Lines |
Decreased document fraud cases by 30.4% via TradeLens blockchain |
AI and ML Introduction in the Marine Internet of Things Sector
The artificial intelligence and machine learning technologies are set to enhance the capabilities of maritime IoT solutions. The digitalization trends are set to increase the use of AI and ML in the production of marine solutions. Follow the table below for the results of AI and ML integration in marine technologies.
|
Company |
Integration of AI & Machine Learning |
Outcome |
|
Wärtsilä |
AI-powered digital twin simulations for marine engine design |
25.5% fall in product development time |
|
Rolls-Royce Marine |
AI-driven optimization for autonomous ship control systems |
15.4% cost savings in system design and integration |
|
Kongsberg Maritime |
ML-based condition monitoring and predictive maintenance |
20.3% rise in operational uptime |
Challenges
- High cybersecurity costs: The increasing cybersecurity concerns are increasing the compliance costs of end users. The majority of small- and mid-sized marine fleet owners are deterring from investing in the advanced cybersecurity solutions owing to their high costs. The U.S. Government Accountability Office (GAO) states that in 2023, more than 46.5% of small marine tech companies noted that cybersecurity costs are acting as major barriers for IoT solution employment.
- Infrastructure gaps: The infrastructure gaps in the price-sensitive marine internet of things markets are hampering the adoption of marine IoT solutions. The low budgets for marine and port infrastructure development are also limiting the entry of market players in poor regions. The African Union states that less than 40.5% of coastal connectivity readiness is limiting the adoption of IoT solutions in the region. Investing in the budget constraint marine internet of things markets is expected to offer negative profit margins.
Marine Internet of Things Market: Key Insights
| Report Attribute | Details |
|---|---|
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
18.2% |
|
Base Year Market Size (2024) |
USD 6.9 billion |
|
Forecast Year Market Size (2037) |
USD 28.5 billion |
|
Regional Scope |
|
Marine Internet of Things Segmentation
Application (Asset Tracking & Monitoring, Predictive Maintenance, Fleet Management, Environmental Monitoring, Navigation & Route Optimization, Safety & Emergency Systems)
The asset tracking & monitoring segment is poised to account for 32.5% of the global marine IoT market share throughout the study period. The growing need for precise cargo tracking and fuel monitoring systems is accelerating the segmental growth. The real-time environmental compliance requirements in commercial shipping are propelling a high demand for marine asset tracking & monitoring solutions. The ongoing improvements in shipping sustainability and port safety are pushing the adoption of next-gen asset tracking & monitoring technologies.
Connectivity (Satellite-based Communication, Cellular, Wi-Fi, VHF & HF Radio)
The satellite-based communication segment is projected to capture 35.8% of the marine internet of things market share by 2037. The governments' increasing investments in uplifting their satellite constellation deployment are expected to enhance the connectivity networks of the marine sector. The National Oceanic and Atmospheric Administration (NOAA) states that the U.S. government allocated around USD 1.6 billion in satellite modernization in 2023. This investment was particularly focused on the enhancement of coastal and maritime observation systems. Furthermore, continuous technological innovations backed by favorable government policies are set to boost the introduction of advanced marine satellite-based communication systems.
Our in-depth analysis of the global marine IoT market includes the following segments:
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Platform |
|
|
Connectivity |
|
|
Application |
|
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Customize this ReportMarine Internet of Things Industry - Regional Scope
North America Market Forecast
The North America marine internet of things market is estimated to hold 36.8% of the global revenue share through 2037. The high budgets for ICT developments are opening profitable doors for marine IoT companies. Canada’s Innovation, Science and Economic Development (ISED) states that in 2024, around USD 876.5 million was allocated for ICT infrastructure growth and marine digitization. The automation and digital shift are set to increase the sales of innovative marine IoT solutions in the coming years.
The supportive government spending in smart port infrastructure, maritime cybersecurity, and robust connectivity networks is estimated to boost the U.S. marine internet of things market growth during the foreseeable period. The Broadband Equity, Access, and Deployment (BEAD) program of the National Telecommunications and Information Administration (NTIA) has allocated funds of around USD 42.5 billion for the development of IoT infrastructure at coastal ports and shipping corridors. The public initiatives and policies are projected to help the marine IoT companies expand their operations in the country.
The digital modernization initiatives and sustainable maritime infrastructure growth are estimated to propel the sales of IoT solutions in Canada. In 2023, Transport Canada piloted real-time cargo tracking using IoT sensors across Atlantic ports, which enhanced operational efficiency by 17.5%. Furthermore, the public-private collaborations in marine 5G integration are projected to offer robust connectivity networks. Also, the increasing public-private investment strategies are contributing to the sales of marine IoT technologies.
APAC Market Statistics
The Asia Pacific marine IoT market is anticipated to increase at a CAGR of 14.3% from 2025 to 2037. The robust digital transformation is expected to fuel the introduction of advanced technologies in the marine sector. The supportive government policies and funding are backing the production and commercialization of marine IoT solutions. China and India are expected to be investment-worthy marine internet of things (IoT) markets producers. The know-how strategies aiming at the production of advanced marine IoT solutions are uplifting the position of Japan and South Korea in the competitive landscape.
The China marine internet of things market is particularly led by the government-backed investments in port and ICT infrastructure growth. The Research Nester’s study states that the USD 3.7 billion public initiatives for digital infrastructure are expected to increase the production and sales of innovative marine IoT solutions through 2037. The expansion of 5G and satellite-based navigation systems is also estimated to promote the adoption of next-gen marine IoT solutions.
The sales of marine IoT technologies in India are estimated to increase at the fastest pace during the projected period. The government-backed initiatives, such as Digital Bharat and Sagarmala Port Development, are attracting key marine IoT investors. The Ministry of Electronics and Information Technology’s (MeitY) Digital Infrastructure Plan allocates USD 500.5 million annually for port automation. Considering such developments, India is expected to be the hub for marine IoT innovations in the years ahead.
Companies Dominating the Marine Internet of Things Landscape
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
The key players in the marine internet of things market are adopting various organic and inorganic tactics such as new product launches, technological innovations, partnerships & collaborations, mergers & acquisitions, and global expansions to uplift their position in the crowd. Industry giants are introducing innovative marine IoT solutions integrated with cloud computing and AI. SME are partnering with other big players to increase their market reach and profits. Leading companies are also targeting emerging marine internet of things (IoT) markets to earn high profits from untapped opportunities. The organic sales are expected to offer double-digit percent revenue growth opportunities for key players in the coming years.
|
Company Name |
Country of Origin |
Revenue Share 2024 |
|
Cisco Systems, Inc. |
USA |
8.7% |
|
IBM Corporation |
USA |
8.0% |
|
Siemens AG |
Germany (Europe) |
7.5% |
|
Samsung Electronics Co., Ltd. |
South Korea |
7.2% |
|
Nokia Corporation |
Finland (Europe) |
6.9% |
|
Ericsson AB |
Sweden (Europe) |
XX% |
|
General Electric (GE Digital) |
USA |
XX% |
|
Honeywell International Inc. |
USA |
XX% |
|
Wärtsilä Corporation |
Finland (Europe) |
XX% |
|
ABB Group |
Switzerland (Europe) |
XX% |
|
Telstra Corporation Limited |
Australia |
XX% |
|
HCL Technologies Limited |
India |
XX% |
|
Asea Brown Boveri Ltd. (ABB Malaysia) |
Malaysia |
XX% |
|
Kongsberg Gruppen ASA |
Norway (Europe) |
XX% |
|
Infosys Limited |
India |
XX% |
Below are the areas covered for each company in the marine IoT market:
In the News
- In May 2025, Onomondo entered into a strategic partnership with A.P. Moller – Maersk A/S for the development of the biggest private IoT LTE network at sea. This new network contributed to a 12.3% growth in Maersk’s digital technologies revenue in the second quarter of 2025.
- In March 2025, ZTE Corporation and Türk Telekom introduced the first millimeter-wave supported 5G-Advanced Integrated Sensing and Communication (ISAC) maritime management solution in Europe. The product launch move contributed to a 9.4% revenue growth for ZTE’s maritime IoT division in the first quarter of 2025.
Author Credits: Abhishek Verma
- Report ID: 3692
- Published Date: May 16, 2025
- Report Format: PDF, PPT
