The report forecasts the global maritime information market to grow at a CAGR of 9.39% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: A trend boosting market growth is the adoption of smart vessels in the maritime sector. Smart vessels have been progressively adopted by the maritime sector. These vessels contain sophisticated remote controlled equipment. Smart vessels increase maritime market revenue levels by delivering high operational efficiency through a remote control room that has access to maritime support services (MSS) and thus, it helps reduce the number of on-board crew members.
According to the report, a key growth driver is the growing demand for M2M communications. The global M2M services revenues are estimated to reach around $70 billion by 2020. Almost all businesses are focusing mainly on the latest M2M systems that enhance operational effectiveness and efficiency. Incorporating M2M systems into business operations would help achieve real-time monitoring of remote vessels.
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?