Emerging Digital Transformation in the Shipping Industry to Reflect Positively on the Global Connected Ship Market

The global connected ship market is estimated to grow at a CAGR of 4.2% during the forecast period. Ship owners are increasingly implementing digital solutions to improve the safety, efficiency, and navigation of the vessel. Several contracts were reported over the decades to power ships with IoT solutions. For instance, in December 2019, ABB awarded nearly $180 million contract to deliver digital, propulsion and power solutions for Genting Hong Kong’s six ‘Universal Class’ next-generation cruise vessels. This is intended to bring global hotel brands to sea. According to the highest environmental and safety standards, the new vessels will be developed that will be driven by Azipod electric propulsion. 

Browse the full report description Global Connected Ship Market Size, Share & Trends Analysis Report, By Ship Type (Commercial and Defense), By Application (Vessel Traffic Management, Fleet Operations, and Fleet Health Monitoring), By Installation Type (Onboard and Onshore) and Forecast, 2020-2026 at https://www.omrglobal.com/industry-reports/connected-ship-market

Cruise travelling is gaining significance among travellers and tourists. As per the Cruise Lines International Association (CLIA), in 2019, 30 million passengers are anticipated to cruise the seas, which represents a 6% rise year-on-year. Combined with the increasing numbers of cruise passengers, CLIA stated that travellers are highly aware of sustainable technology onboard vessels. Its ABB Ability digital platform enables crew members to enjoy a completely integrated ship in which all equipment and systems seamlessly work together. With ABB Ability Centers Operations C, the company has supported 918 vessels globally. In 2017, the company introduced the ABB Ability Collaborative Operations concept which is a 24/7 support for remote vessel.

Further, in May 2019, Nordic Innovation declared proposals under the Nordic Smart and Mobility and Connectivity program. This is aimed to foster the setup of Nordic innovation projects, value chains and/or business models, and new Nordic partnerships, that enables to accelerate the transition to a sustainable future. The Connected Ship project funded by Nordic Innovation will establish enterprises and knowledge that can successfully make the shipping industry of Nordic countries more sustainable and develop new Nordic export business models based on the maritime digitalization. 

This project intends to show digital platforms onboard a ship with the use of platforms, technology, and experiences from smart city projects in combination with the shipping industry communication protocols, environmental prerequisites, and control systems. It will also prepare the maritime infrastructure for future interaction with the smart society including harbors, passengers, trucks, cargo, and other smart micro-systems. This shows the trend towards digital transformation in the maritime industry which is expected to drive the global connected ship market. 

Global Connected Ship Market- Segmentation

By Ship Type

• Commercial
• Defense

By Application

• Vessel Traffic Management
• Fleet Operations
• Fleet Health Monitoring

By Installation Type

• Onboard
• Onshore

Global Connected Ship Market– Segment by Region