According to our latest market study on, "Maritime Information Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Platform, Application, and End-User," the market is expected to grow from US$ 1,882.01 million in 2021 to US$ 2,808.87 million by 2028; it is expected to grow at a CAGR of 6.2% from 2022 to 2028.

Rise in Sea Trade and Increasing Maritime Budgets Fuels Maritime Information Market Growth
With the liberalization of global trade, there has been significant growth in the number of ships sailing the world's oceans. However, this has led to a rise in maritime concerns such as terrorist invasions, ecological disturbances, and unauthorized immigration via sea. It is noteworthy that maritime trade contributes to approximately 80% of the world's total trade volume and more than 70% of the total trade value, which falls under the jurisdiction of ports across the globe. By 2030, the Organization for Economic Co-operation and Development (OECD) predicts that global world trade via water will surpass 180 billion metric tonnes. This has prompted governments worldwide to expand their maritime budgets to cater to the ongoing business growth, positively impacting the maritime information market share. For example, in August 2021, the Federal Emergency Management Agency of the US Department of Homeland Security allocated more than US$30 million from a grant of US$100 million to 44 port administrations, municipalities, several terminal operators, and law enforcement agencies to enhance the security of the vital port infrastructure. Therefore, the upsurge in global sea trade has led to an increase in the maritime budget, which is driving the growth of the maritime information market.

The increase in international maritime trade routes has led to a rise in ship traffic on the oceans, driving the growth of the maritime information market. Government authorities are investing heavily in integrating Automatic Identification Systems (AIS) into ships to reduce maritime accidents and improve marine traffic management. AIS helps fleet staff make informed decisions about ship navigation, collision avoidance, ship grounding, and vessel rescue, thus aiding in vessel traffic management. Governments such as Canada receive information from AIS for ship tracking and other navigational and safety activities to monitor domestic and international maritime activity. The International Maritime Organization (IMO) has adopted a convention requiring ships to be equipped with AIS transponders to increase maritime safety. Additionally, due to stringent regulatory restrictions focused on the environment, sea freight and oceanic boat monitoring systems are expected to develop in the coming years. Thus, the growing adoption of automatic identification systems is driving the growth of the maritime information market.

Key Findings of Study:
The market for maritime information is categorized by platform, application, and end-user. The platform segment is divided into onshore and vessel, with the vessel segment holding the largest market share in 2021. The applications segment is categorized into fleet management, vessel tracking, and maritime security, with fleet management leading the market in 2021. The market size is also divided by end-user, with commercial and government segments, where the commercial segment held the largest market share in 2021.

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