Marine Communication Market is estimated to grow at an exceptional pace with a CAGR of 7.8% to reach ~US$ 9.3 Bn in 2032

The market for maritime communication worldwide is now estimated to be worth $4,420.7 million in 2022, and it is predicted to grow at a CAGR of 7.8% to reach $9,351.4 million in 2032. Globally, the marine communication sector accounts for around 25% of the marine electronics market. Ship-to-ship and ship-to-shore communication can be solved by marine communication. This is crucial for activities involving ship navigation, such as cargo handling and ship operation.

The demand for high-quality, secure, and dependable marine communication products, such as maritime satellite phones and internet devices, automatic identification systems (AIS), vessel monitoring system (VMS) terminals, marine radars, and marine radio devices, is expected to increase due to the need for better connectivity between land and sea operations.

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Key Takeaways: Marine Communication Market

· By product, the marine radio devices segment is anticipated to account for the leading share in the global marine communication market. However, the maritime sat phone & internet devices segment is estimated to grow at a robust CAGR of 10.9% through 2032.

· By application, the adoption of marine communication in recreational vessels segment is anticipated to increase at a CAGR of 10.5% between 2022 & 2032.

· The rise in popularity of recreational boating worldwide is expected to increase the adoption of marine communication systems.

· Among regions, South Asia & Pacific marine communication market is estimated to register high CAGR, owing to the increasing demand of maritime digital data services in the region.

· In Japan, sales are expected to increase at a CAGR of close 11.3% over the next ten years.

“With the advancement in digital data services, marine communication service vendors need to make numerous updates into their pre-existing communication technologies, in order to upgrade the industry and ensure maximum productivity,” says FMI analyst.

The marine communication market refers to the market for communication systems and services that are used in the maritime industry. This includes systems for both ship-to-ship and ship-to-shore communication, as well as satellite and other wireless communication technologies.

The market for marine communication has been growing in recent years, driven by the increasing need for reliable and efficient communication systems in the maritime industry. This is due to factors such as the growing global trade, the increasing number of shipping vessels, and the need for improved safety and security at sea.

The marine communication market is expected to continue to grow in the coming years, driven by the increasing demand for high-speed internet connectivity on ships, the increasing number of cruise ships, and the growing use of autonomous ships. Additionally, the market is expected to be driven by advancements in technology, such as the increasing use of 5G technology, which will provide faster and more reliable communication systems.

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Advent of 5G in Sea Communication and Unmanned Boat to Shape Future Outlook

Internet at sea has become a necessity for yachts with Captains and Electro Technical Officer (ETO’s) carefully considering satellite and mobile data options. With a rise in the number of marine internet service providers, the emergence of 5G in marine industry is growing with significant pace. The advent of 5G has bought major developments in satellite systems. Satellite systems is promising a completely different outlook in terms of offshore connectivity.

Many players in the sector are investing in the launching of satellite constellations into Low Earth Orbit (LEO). Located between 500 km and 2000 km above the Earth’s surface, these satellites fly in coordinated groups and, unlike their predecessors, they are moveable. Moreover, the various tech companies are introducing unmanned boats that is equipped with 5G Continuing Professional Education (CPE) terminal and 360-degree 4K camera, pushing real-time images and videos of ocean and river for monitoring water quality through fast speed 5G network. The camera could capture the water environment in areas where are inaccessible to human eyes and the small speaker installed on the hull could convey pre-recorded messages to people around.

For instance, in April 2019, ZTE Corporation and China Mobile have jointly launched “Heweitong”, a marine broadband satellite solution that seamlessly extends the mobile network to the ocean, creating a new era of marine communication.

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