Marine and Marine Management Software Market to Capture a CAGR of 11.0% Between 2022 and 2030 While Touching Approximately USD 4.30 Billion by 2030 - Report By Polaris Market Research (PMR)

New York, May 09, 2024 (GLOBE NEWSWIRE) -- Market Overview:

The Global Marine and Marine Management Software Market was valued at USD 1.75 billion in 2021 and is anticipated to generate an estimated revenue of USD 4.30 billion by 2030, with a CAGR of 11.0% from 2022 to 2030.

Marine and marine management software is a tool to optimize the management of business operation and financial process. Better trade services, more safety, and an enhanced warehouse management system are all provided by marine management software. Also, to facilitate better trade and communication, this software helps identify the timetables of the ships and offers cargo information about the ships leaving from different ports. The ships' excellent communication facilitates improved coordination and a decrease in maritime mishaps in the bay, expanding the marine and marine management software market demand.

Additionally, supply chain insight is made possible by integration with enterprise resource planning software, which also lowers freight delivery costs and improves company decision-making.

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Key Market Players:

• Ayden Marine
• ABB
• Chetu
• Dockmaster
• CorVant
• Lloyd’s Register
• Marina Master
• Marina Cloud
• Oceanmanager
• Raymarine
• Oracle
• Timezero
• Scribble Software

Marine and Marine Management Software Market Details:

Key Takeaways from the Report:

• The global adoption of the marine software market is being driven by factors like the growing need to effectively manage complex supply chain operations, the need to increase sustainability in the marine industry, and the growing demand for centralized data administration to lower overall shipment costs and improve shipyard productivity.
• The marine and marine management software market analysis is mainly based on the deployment mode, component, location, application, and region.
• In 2021, North America had the highest market share.

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Market Dynamics:

Growth Drivers:

• Over the past few decades, the marine and marine management software market size has experienced growth, helped in part by the increasing use of cloud-based installations for transportation operations management.
• Few vendors provide cloud-based software for managing marinas that eliminates monotonous and time-consuming administrative procedures. Therefore, in the near future, the industry's adoption of cloud computing technology is projected to be dominated by the rise of the marine management system market.

Trends:

• The increasing need for the marine managing system is fueling the industry's expansion, and leading companies are concentrating on a number of tactics like joint ventures, partnerships, and technological debuts.

Challenges:

• Due to the shutdown of their workforces for safety and to stop the spread of COVID-19, the pandemic has placed the shipping and maritime industries in an extremely precarious position. The pandemic has shocked ports, transportation networks, and supply chains, resulting in a decline in cargo volume and dashed aspirations for expansion.

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Regional Analysis:

Because of the increasing technological improvements in the region, it is expected that the marine and marine management software market in North America would increase significantly. The way the company handles new opportunities is being impacted by technological breakthroughs in propulsion, shipbuilding, novel materials, smart shipping, big data and analytics, robotics, sensors, and communications, in addition to a workforce with higher levels of competence.

Furthermore, Asia Pacific is expected to grow at a rapid rate in 2021. There are more possibilities for smaller market businesses to sell their goods to a larger variety of shipping providers. Businesses in the area are trying to enhance their shipping processes in order to become more competitive in the market and generate more income. China, India, and Singapore have demonstrated enormous potential for regional expansion.

Segmentation Overview:

By Component Outlook:

• Software
  • Tracking & Monitoring
  • Navigation & Routing
  • Supply Chain & Logistics
  • Finance & Accounting
  • System Testing
  • Other Type
    • Communication
    • Voyage & operations
• Services
  • Professional Services
  • Managed Services

By Deployment Mode Outlook:

• Cloud-based
• On-Premises

By Application Outlook:

• Crew Management
• Port Management
• Harbor Management
• Reservation Management
• Cruise and Yacht Management

By Location Outlook:

• Onshore
• Onboard

By Region Outlook:

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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About Polaris Market Research:

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.

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