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Connected Ship Market Expansion Outlook: What Revenue Opportunities Are Ahead?
The connected ship market size has grown strongly in recent years. It will grow from $7.63 billion in 2025 to $8.14 billion in 2026 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to global maritime trade growth, adoption of satellite communications, fleet digitization initiatives, safety compliance requirements, naval modernization programs.
The connected ship market size is expected to see strong growth in the next few years. It will grow to $10.65 billion in 2030 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to smart shipping adoption, autonomous vessel development, cybersecurity investments, demand for real-time fleet visibility, decarbonization monitoring. Major trends in the forecast period include growth of satellite-based ship connectivity, adoption of fleet health monitoring, expansion of vessel traffic management, integration of predictive analytics, focus on maritime safety and security.
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Connected Ship Market Expansion Drivers: What’s Shaping Future Growth?
The rise in the seaborne trade is expected to propel the growth of the connected ship market going forward. Seaborne trade refers to the cargo that is carried on a boat for trade. Connected ships are used for the transportation and trade of food, technology, medicine, and other items. Growth and sustainable development depend heavily on affordable and effective maritime transportation. For instance, in July 2024, according to the International Energy Agency, a Paris-based autonomous intergovernmental organisation, bseaborne trade stood at about 1.38 Bt in 2023 and total trade, slightly surpassing the 1.5 Bt, reported historical highs. Therefore, the seaborne trade surge drives growth in the connected ship market.
Connected Ship Market Breakdown By Product Type And Application
The connected ship market covered in this report is segmented –
1) By Type: Commercial, Defense, Other Types
2) By Fit: Linefit, Retrofit
3) By Installation Type: Onboard, Onshore
4) By Application: Vessel Traffic Management, Fleet Operations, Fleet Health Monitoring, Other Applications
Subsegments:
1) By Commercial: Cargo Ships, Tankers, Passenger Ships, Fishing Vessels
2) By Defense: Naval Ships, Submarines, Coast Guard Vessels
3) By Other Types: Research Vessels, Leisure Boats, Tugs And Barges
Connected Ship Market Strategic Trends: What Defines The Next Growth Phase?
Major companies operating in the connected ship market are focusing on strategic investments to strengthen their position in the market. Strategic investments are made with a long-term perspective, aiming to create value or achieve specific objectives over an extended period, rather than for short-term gains. Funds allocated to research and invested in advanced technologies that facilitate the development of connected ship systems. This might involve IoT, data analytics, AI, automation, and remote monitoring systems for ships. For instance, in October 2023, PSA Marine, a Singapore-based leader in the maritime sector, has built a fleet monitoring center in Singapore, Fleet Data-To-Knowledge (D2K) Centre, to monitor its harbor tug fleet and uses simulators to train its marine crew there. Using digitalization technologies and wall-length screens, PSA Marine observes harbor tug positioning, operations, fuel consumption and machinery health while managing the scheduling and deployment of its tugs in-house. It can visualize the location of the fleet around Singapore port waters using Automatic Identification System (AIS) data, and monitors transit times, speed and fuel consumption on the modern tugs to help tug master’s to optimize operations and improve efficiency.
Connected Ship Market Company Landscape And Competitive Strategy
Major companies operating in the connected ship market report include ABB Corporation, General Electric Company, Emerson Electric Co., Schneider Electric SE, Hyundai Heavy Industries Co. Ltd., Kongsberg Gruppen ASA, Rockwell Automation Inc., Valmet Corporation, Wartsila Oyj Abp, Marlink AS, Northrop Grumman Corporation, RH Marine Group, Siemens Aktiengesellschaft, Ulstein Group ASA, Thales Group, Furuno Electric Co. Ltd., Navico Holding AS, Inmarsat plc, Telefonaktiebolaget LM Ericsson, Intelsat Corporation, Harris Corporation, Iridium Communications Inc., KVH Industries Inc., Raytheon Anschütz GmbH, Sperry Marine BV, Transas Marine International AB, Cobham Satcom A/S, GNS GmbH
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Connected Ship Market Regional Split: Which Areas Are Fueling Growth?
Asia-Pacific was the largest region in the connected ship market in 2025. The regions covered in the connected ship market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.
