Connected Ship Market Size To Reach $11.25 Billion By 2030

January 2025 | Report Format: Electronic (PDF)

Connected Ship Market Growth & Trends

The global connected ship market size is expected to reach USD 11.25 billion by 2030, registering a CAGR of 6.7% from 2025 to 2030, according to a new report by Grand View Research, Inc. The market is expected to witness significant growth owing to the increasing penetration of internet across the shipping and logistics industry across the globe.

The market is largely influenced by the rapid rise in cross border shipping, which in turn has generated a high demand for connected ships. Emphasis of major economies towards globalization to strengthen free trade agreements like NAFTA (North American Free Trade Agreement), TPSEP (Trans-Pacific Strategic Economic Partnership), Southeast Asian Nations Free Trade Area (AFTA) will drive the market.

The growth and progress in trading and logistics is expected to drive the market. Also, the factors such as shale gas evolution, rising export and import of chemicals, recovering petrochemical industry are positively influencing market growth. Also, container transportation is increasingly adopted globally to transport goods. It acts as a major driver for the cargo shipping market in the both - developed and developing countries.

The volume of international seaborne trade in 2016 was recorded at 10289.0 Mn tons and increased to 10702.0 Mn tons in the year 2017. This year on year rise in seaborne trade is also expected to significantly impact the market of connected ships in the upcoming years. The rising sea borne transport has compelled the manufacturers to invest in research and development on technology enhancement such as connected vessel technology, while enabling the exchange of information through a single network to make it more secure and safe. The adoption of connected ship solution allows stack owners to obtain real time position of shipment, operation control of the ship, and vessel traffic management. The applications of industrial IoT are using an enormous amount of available data, cloud services, as well as business analytics and enterprise mobility capabilities to analyze and optimize the shipping operations.

Government initiatives especially in emerging economies such as China and India, are focused towards digitalization of the vessel to achieve tracking as well for security purposes. Also, growing chemical industry in these countries is expected to positively impact market growth. Also, to attract more business the governments have been observed to be restructuring trade policies and infrastructure which is anticipated to boost the market over the forecast period.

Europe captured a significant share in the market owing to presence of key manufacturers in the region. U.K., Germany, and France are among the top five countries with the highest volume of parcel shipments in the region. However, Asia Pacific is expected to witness highest CAGR over the forecast period, owing to remarkable growth in the e-commerce sector and increasing internet penetration.

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Connected Ship Market Report Highlights

The commercial segment accounted for the largest revenue share of 64.0% in the connected ship market in 2024, aided by the increasing presence of commercial fleets worldwide.
The onboard segment accounted for a leading revenue share in the global market for connected ships in 2024.
The vessel traffic management segment accounted for a leading revenue share in the global connected ship industry in 2024 and is further expected to grow at the fastest CAGR during the forecast period.
The Asia Pacific connected ship market accounted for a leading revenue share of 34.2% globally in 2024.