The North America Maritime Digitization Market would witness market growth of 8.7% CAGR during the forecast period (2022-2028).
Digital technology provides the benefit of reducing the requirement for human interaction, which could help shield the industry against shocks like the COVID-19 pandemic. Beyond the maritime industry, digitalization would have a significant impact. Given the strategic importance of the maritime sector, digital transformation can have a positive economic impact on a wide range of industries and help drive a more robust and long-lasting recovery, particularly in low- and middle-income nations. The maritime sector is network-centric, with several independent actors participating in a door-to-door or port-to-port excursion, sometimes up to 40.
As a result, longer transit times, delays, poor reliability, and an increase in the price of marine logistics services are caused by manual operations and a lack of efficient coordination among various maritime logistics actors. In support of this, a Maersk study revealed that in some niche markets, management and order paperwork account for almost half of the transport expenses, primarily due to data processing along with customs procedures. Significant opportunities exist to enhance the environmental and financial performance of actors engaged in maritime logistics through digital transformation (DT).
North America has long been a key region for marine trade, both as a source of goods and a final destination. There are more than 50 main ports in the US, and they alone handle more than 2300 million MT of cargo. The ports of Houston, Savannah, and Los Angeles are among the major ports in the US that have used smart port technologies. The Automated Terminal Asset Management System (ATAMS), built by the Port of Savannah, has been integrated into its operations. Trucks can now be instantly located and identified due to ATAMS, which has simplified the container hand-off routine between street trucks and yard cranes. Improved worker safety, better crane output, and quicker turnaround times were the main advantages of ATAMS. Therefore, such factors are supporting the growth of the regional maritime digitization market in the coming years.
The US market dominated the North America Maritime Digitization Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $70,237.2 Million by 2028. The Canada market is poised to grow at a CAGR of 11.1% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 10.2% during (2022 - 2028).
Based on Application, the market is segmented into Fleet Management, Vessel Management, Inventory Management, Energy Management, and Predictive Maintenance. Based on End User, the market is segmented into Ports & Terminals, Shipping Companies, and Maritime Freight Forwarders. Based on Technology, the market is segmented into IoT, AI, Blockchain, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Maritime Digitization Market is Estimated to reach $266.5 Billion by 2028, at a CAGR of 9.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Windward Ltd., Inmarsat Global Limited (Connect Bidco Limited), Lockheed Martin Corporation, Spire Global, Inc., Iridium Communications Inc., Orbcomm, Inc. (GI Partners L.P.), MariApps Marine Solutions Pte Ltds (Schulte Group), Marine Solutionz Ship Management Pvt. Ltd., xyzt.ai BV, and Perle Systems Inc.
By Application
By End User
By Technology
By Country
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