Connected Ship Market Report

Joey Moore03 Sep, 2024Technology

Connected ship market size reached US$ 6.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 9.1 Billion by 2032, exhibiting a growth rate (CAGR) of 4.59% during 2024-2032. The expanding volume of global trade and the continued growth of the shipping industry are significant contributors to the connected ship market. As trade routes become more complex and the demand for efficient logistics solutions increases, connected ship technologies enable better fleet management and coordination between vessels, ports, and onshore operations. The rise of e-commerce and global supply chains has further intensified the need for efficient shipping processes, driving the adoption of connected systems that streamline operations and enhance overall productivity. As the maritime sector evolves to meet these challenges, the connected ship market is poised for continued growth.