Marine Internet of Things Market Segmentation:
Vessel Type Segment Analysis
Based on the vessel type, the commercial vessels segment in the marine internet of things market is anticipated to garner the largest share of 88.5% by the end of 2035. The segment’s upliftment is highly driven by the aspect of direct economic imperative and the function of scale. In addition, the international container ships fleet, commercial vessels, and bulk carriers tend to display the majority of maritime assets, wherein IoT solutions readily deliver a clear and instant return on investment. For these particular operators, the usual drivers are strictly economic and witness administrative pressures, suitable enough for bolstering the overall segment.
End user Segment Analysis
Based on the end user, the aftermarket segment in the marine internet of things market is expected to cater to the second-largest share during the projected timeline. The segment’s growth is highly propelled by the increasing demand to retrofit the present international fleet, which readily comprises huge commercial vessels, along with digitalized capabilities. Besides, unlike OEM-based solutions, aftermarket installations experience significant challenges pertaining to system integration. Meanwhile, this segment ensures the largest market that is addressable since shipowners are effectively compelled to upgrade old assets to meet strict new efficiencies.
Component Segment Analysis
Based on the component, the software segment in the marine internet of things market is predicted to account for the third-largest share by the end of the forecast duration. The segment’s development is driven by the aspect of hardware merely collecting data and transforming this into actionable intelligence and measurable ROI. The segment also comprises fleet management platforms, AI-specific performance optimization tools, and predictive analytics suites. According to an article published by Heliyon in March 2024, a clinical study was conducted to evaluate software implementation on marine ships, wherein 51% of sector professionals stated that Industrial Control Systems (ICS) are devoid of suitable protection. Additionally, 55% were readily concerned about cyberattacks associated with, which can cause a hindrance in the segment.
Our in-depth analysis of the marine IoT market includes the following segments:
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Vessel Type |
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End user |
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Component |
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Application |
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Technology |
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Deployment Model |
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