The Global Marine Communication Market size is expected to register significant growth during the forecast period of 2023 to 2033. According to Future Market Insights, the global market is projected to surpass a valuation of USD 4,699.2 million in 2023. It is projected to surpass a valuation of USD 10,082.5 million by 2033.The market is expected to showcase a substantial CAGR of 7.9% from 2023 to 2033.
Marine communication is a solution for ship-to-ship and ship-to-shore communication. This is essential for ship navigation tasks such as ship operation and cargo handling. Growing need for high-quality, secure, and reliable marine communication products to attain improved connectivity between land and sea operations.
Such as marine radio devices, Marine Multifunction Displays (MFDs), Automatic Identification Systems (AIS), Vessel Monitoring System (VMS) terminals, marine radars, VHF Data Exchange Systems (VDES), maritime sat phone & internet devices. This may fuel demand in the marine communications market.
The global marine communication market is estimated to experience an increase due to increasing demand for broadband connections, mobile satellite services, mobile satellite communications, and very small-aperture terminal (VSAT) connectivity.
Marine communication solutions are specialized in various applications such as fishing boats/vessels, merchant ships, recreational vessels, working vessels, and others. The increasing need for improved marine data communication to develop operation efficiency, and employee/passenger welfare in the maritime industry.
Moreover, onboard security and surveillance are expected to propel demand over the coming years.
| Attributes | Details |
|---|---|
| Marine Communication Market Share (2022) | USD 4,420.7 million |
| Marine Communication Market Share (2023) | USD 4,699.2 million |
| Marine Communication Market Share (2033) | USD 10,082.5 million |
| Marine Communication Market Share (2023 to 2033) | 7.9% |
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In 2018, the global marine communication market size stood at USD 3,251.5 million. From 2018 to 2022, the market experienced substantial development amplification, accounting for USD 4,420.7 million in 2022. The marine communication market expanded at a considerable CAGR of 5.8% from 2018 to 2022.
Satellite communication plays a critical role in managing the integration of modern satellite communication into existing communications and reconnaissance architectures. The development of satellite communication infrastructure helps in providing new terrestrial communication networks to increase operational agility.
Various technology vendors are developing advanced satellite systems to reduce the time gaps and cover more geographical locations. For instance, Inmarsat a global satellite communication provider, offers a geostationary system that has four operational satellites. One each is mounted over the Pacific and Indian Oceans and a further two cover the Atlantic Ocean for faster and reliable land and marine communication.
The VHF-based Data Exchange System (VDES) provides a robust and globally standard communication system for e-navigation. It supports the safety and efficiency of ship and shore operations. The reduced cost of deployment and improved communication is creating demand in various countries around the globe.
Moreover, marine electronic vendors are also focusing on offering cost-effective satellite-based communication. For instance, EGNOS, a European Satellite-Based Augmentation Service (SBAS), corrects GPS signals to increase the accuracy of position information. Thus, the demand for satellite-based communication systems is driving the demand and is fueling the global marine communication market.
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Maritime Satellite Developments to Drive Sat Phones and Internet Devices Demand
The Maritime sat phones and internet devices are expected to show significant growth in the coming years. This is attributable to the increasing maritime satellite developments and adoption of new-generation broadband satellite services. Globalization has opened the doors for trade across the world and it has thus become necessary for ships to be equipped with the latest forms of communication and technology.
Maintaining strong communication is perhaps the most important part of ensuring the safety of vessels in the maritime industry. To ensure the smooth facilitation of trade and other services, all the ships and vessels on the water need to maintain proper maritime communication.
Satellite communication enables the crew onboard ships to be able to connect with other ships and teams to keep them updated with the current situations on-board in real-time, which helps reduce errors and thereby increase efficiency.
Marine radio services are predicted to garner swift growth during the forecast period. In 2022, the marine radio devices segment captured a 25.1% market share. Marine radio devices can operate over long distances using Very High Frequency (VHF) or High Frequency (HF) bands.
They can provide reliable communication in different maritime environments, overcoming rough weather, interferences, and others. This reliability makes marine radio devices indispensable for maintaining effective communication in adverse conditions and remote areas.
Integration of Advanced Technologies Improving Scope for Marine Communication Application in Recreational Vessels
Based on application, the marine communication market is segmented as fishing boats/vessels, merchant ships, recreational vessels, working vessels, and others. The recreational vessels application segment is set to witness a relatively higher CAGR during the forecast period. The merchant ships segment accounted for a large market share in 2022. New technologies are continuously getting developed related to communication and navigation.
The integration of IT in communication has paved the way for the usage of electronic devices in several applications, thereby greatly enhancing its utility. For instance, the use of big data analytics on AIS helps vessels and shipping companies to predict and detect anti-national activities with the support of domain awareness and maritime intelligence.
Demand for Satellite Communication Technology to Grow in the Shipping Sector
Merchant shipping is mainly used for carrying passengers or cargo for commercial purposes. To stay updated with the changing communication trends, shipping companies are accordingly designing and manufacturing ships and passenger vessels to ensure crew and passenger loyalty and satisfaction.
In recent years, satellite communication technology has been adopted by several shipping companies for the development of advanced ships and vessels. This technological advancement helps merchants gain higher profit through reliable communication services that maintain operational efficiency.
Integration & Installation Services to Register Swift Growth During the Forecast Period
The integration & installation services in marine communication are expected to witness unparalleled growth during the forecast period. In 2022, the integration & installation services registered a 44.8% market share. The developments in marine communication systems have increased manifold in recent years. Integration of satellite-based technologies, advanced navigation systems, and broadband connectivity has become complex.
These sophisticated systems require expertise and specialized knowledge for proper integration and installation. Ensuring seamless marine communication requires integrating these systems. Due to the growing maritime operations, the integration & installation segment is likely to flourish in the coming years.
United States to Remain Dominant Market in North America
In 2022, the United States captured 16.4% shares in the global marine communication market. The United States marine communication market is set to aggrandize at a high CAGR through 2033. FMI has projected the United States to remain a lucrative market in North America through the course of the forecast period, owing to continuous developments in satellite-based communication systems.
According to estimates, marine communication shipment in the United States is increased by 4% due to a rise in maritime tourism and an increase in United States seaborne trade. Moreover, increasing demand for enriched content from seafarers, crew, and passengers has caused a key spike in the growth of the United States marine communication market. Besides this, the demand from oil and gas vessels, merchant shipping, mining ships, and passenger shipping sectors has propelled the growth.
Government Initiatives Favoring Growth in the United Kingdom
The United Kingdom has strong international standing as a center for design, engineering, marine equipment, and research, coupled with its position as the world’s leading maritime financial, professional, and business services hub. Also, the United Kingdom has a geographical comparative advantage when it comes to Arctic shipping.
In coming years, the United Kingdom is expected to see an increase in demand for maritime communication systems and infrastructure, from the development of remotely operated vessels to the need for increased satellite coverage of remote areas like the Arctic. The government of the United Kingdom and the maritime communication tech players are collaborating to develop advanced communication systems for shipping and autonomous vessels.
The growing demand for marine communication products from shipping companies is driving the growth of the United Kingdom marine communication market. The marine communication market registered a 12.4% market share in 2022.
Telecommunication Satellites Launched in China Driving Marine Communication Demand
China is estimated to record an incremental opportunity worth more than USD 441.0 million during the forecast period. In 2022, China registered a 14.2% market share globally. China’s government is continuously focusing on the development of advanced satellite communication systems to ensure secure and reliable communication in land and maritime industries.
For instance, in July 2020, China successfully launched its APSTAR-6D telecommunication satellite. The satellite can be used for maritime communications, aviation airborne communications, land vehicle communications, and fixed satellite broadband Internet access. Moreover, the South China Sea is a prominent shipping passage with USD 5.3 trillion worth of trade cruising through its waters every year. That’s nearly one-third of all global maritime trade.
As the second-leading economy in the world with over 60 percent of its trade-in value traveling by sea. China’s economic security is closely tied to the South China Sea. Thus, to enhance communication in marine tread activities, China government is continuously focusing on investing in the construction of new marine communications systems and infrastructure, which in return, may drive the growth of China's marine communication systems market.
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Key Players Launch New Products to Capture Growth
The key players rely on multiple expansion strategies to deepen penetration across lucrative markets. These strategies include product launches, collaborations with key players, partnerships, acquisitions, and strengthening of regional and global distribution networks.
Recent Developments Observed by FMI:
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD million for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; The Middle East & Africa (MEA) |
| Key Countries Covered | United States, Canada, Germany, United Kingdom, Nordic, Russia, BENELUX, Poland, France, Spain, Italy, Czech Republic, Hungary, Rest of EMEAI, Brazil, Peru, Argentina, Mexico, South Africa, Northern Africa, GCC Countries, China, Japan, South Korea, India, ASEAN, Thailand, Malaysia, Indonesia, Australia, New Zealand |
| Key Segments Covered | Product, Service, Application, Region |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Trend Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The United States, Japan, and China dominate the global market.
The market is forecast to register a CAGR of 7.9% through 2033.
During 2018 to 2022, the market grew at a CAGR of 5.8%.
Technological advancement disrupts the current market trends.
The global market size to reach USD 10,082.5 million by 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 5.1. Marine Radio Devices 5.1.1. Fixed-mount VHF Marine Radios 5.1.2. Handheld Marine VHF Radios 5.1.3. MF/HF Radios 5.2. Marine Multifunction Displays (MFDs) 5.3. Automatic Identification Systems (AIS) 5.3.1. AIS Transponders 5.3.2. AIS Receivers 5.4. Vessel Monitoring System (VMS) Terminals 5.5. Marine Radars 5.6. VHF Data Exchange System (VDES) 5.7. Maritime Sat Phone & Internet Devices 5.8. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Service 6.1. Consulting Services 6.2. Integration & Installation Services 6.3. After-Sales Support & Maintenance Services 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Fishing Boats/Vessels 7.2. Merchant Ships 7.3. Recreational Vessels 7.4. Working Vessels 7.5. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. South Asia 8.5. East Asia 8.6. Oceania 8.7. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Icom Inc. 18.2. Inmarsat 18.3. Furuno Electric Co., Ltd. 18.4. Garmin Ltd. 18.5. FLIR Systems, Inc. 18.6. Cobham SATCOM 18.7. Navico 18.8. Jotron 18.9. Intellian Technologies 18.10. Bochi Corporation 18.11. Avatec Marine 18.12. HZH Marine Group Co., Ltd. 18.13. Matsutec 18.14. Samyung ENC 19. Assumptions & Acronyms Used 20. Research Methodology
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Marine Communication Market
