The global Marine Management Software Market is anticipated to grow at a CAGR of 7.8% during the forecast period. Automation enables the logistic organizations to cut the overall product handling cost and also reduces the errors by eliminating human mistakes. Thus, the logistic organizations of oceans are rapidly adopting marine management systems to enhance their efficiency. The growing number of small and medium-sized enterprises are boosting the growth of the Marine Management Software Market. According to the SME Finance Forum, there were around 322.4 million MSMEs registered globally in 2019.

However, the rising maritime accidents are a major challenging factor for the market growth. According to the Allianz SE, a total of 2,185 shipping accidents were recorded in 2019, in which 41 large ships were completely lost. The six days blockage of the Suez Canal in March 2021 is another major instance that had cost a loss of $9.6 billion per day as Ever Given container ship got stuck. Due to this factor, various organizations are preferring air logistic services as it also takes lesser time for transportation as compared to sea transportation.

Impact of COVID-19 Pandemic on Global Marine Management System Market

The lockdown restrictions during the COVID-19 pandemic had halted the ship and boat production facilities. This drastically reduced the demand for marine management systems. As the COVID-19 restrictions eased, the market of marine management systems is expected to show recovery. During the pandemic, the market served the logistics operators to manage their work with a reduced workforce. This had enabled the logistics operators to reduce their shipment time.

Segmental Outlook 

The global Marine Management Software Market is segmented based on component, deployment mode, and end-user. Based on the component, the market is segmented into software and service. Based on deployment type, the market is sub-segmented into cloud and on-premise. Based on end-user, the market is sub-segmented into commercial and defense.

Global Marine Management System Market Share by Component, 2020 (%)

The Software Segment Holds the Major Share in the Global Marine Management Software Market.

The software segment holds a major share in the global Marine Management Software Market. It has become an essential element in the shipping industry as it enables shipping companies to automate and track vessel performance and enhance their overall productivity. The marine software enables ship administrators to track orders, generate shipping manifests, gain insights into performance reports, and identify new business opportunities on a centralized dashboard.

Based on the deployment model, the cloud-based deployment model is projected to exhibit considerable growth in the global Marine Management Software Market. The demand is majorly driven by navigation needs during the voyage. The on-premise marine management systems are used for harbor management.

Regional Outlooks

The global Marine Management Software Market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Rest of Europe), Asia-Pacific (India, China, Japan, and the Rest of Asia-Pacific), and the Rest of the World.  

Global Marine Management Software Market Growth by Region, 2021-2027

Asia-Pacific to Exhibit Considerable Growth in the Global Marine Management Software Market

Asia-Pacific is expected to grow at a considerable CAGR in the Marine Management Software Market. India and China are the major contributors to this growth. India has a 7,516 km long coastline and 1,382 islands which generates immense opportunities for cruise tourism as well as for marine transportation. Additionally, the governments of this region are supporting all the marine-based industries which provide strength to the growth of the Marine Management Software Market. The Middle East region is growing considerably in the Marine Management Software Market as the region serves the maximum oil requirement of the globe.  

Market Players Outlook

Some of the major companies operating in the global Marine Management Software Market include ABB Ltd., Oracle Corp., DockMaster Software, Inc., International Container Terminal Services Inc., Seaspeed Marine Services, and others. The market players are considerably contributing to the market growth by adopting various strategies including mergers and acquisitions, collaborations, and new product launches, to stay competitive in the market. For instance, Lloyd's Register had partnered with STC Global in September 2020, to unlock the huge amount of incident data gathered through HSE functions. This partnership had integrated NLP and root cause analysis technologies through AI solutions.

The Report Covers

    • Market value data analysis of 2020 and forecast to 2027.

    • Annualized market revenues ($ million) for each market segment.

    • Country-wise analysis of major geographical regions.

    • Key companies operating in the global Marine Management Software Market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

    • Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

    • Analysis of market-entry and market expansion strategies.

    • Competitive strategies by identifying who-stands-where in the market.