Telematics is the methodology used to monitor the location and movement of a ship through a hardware and software assembly. It also has a combination of Global Positioning System (GPS) and on-board diagnostics systems. With the help of GPS and diagnostics system, it is possible to record the speed and internal behavior of a ship. Telematics systems are mainly adopted by automobile insurance companies, fleet management companies, and others to monitor the location and behavior of fleets.
The global marine telematics market refers to the services and solutions that are adopted for monitoring and controlling ships through a telecommunication device. GPS tracking devices and vehicle diagnostics systems help transmit information to and from the ship computer system. Moreover, a Fleet Telematics System (FTS) allows the exchange of information between a ship fleet and the central authority, which enables them to keep a track of vessel diagnostics and location.
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These systems normally consist of a user interface, satellite antenna, and a communication link with the vessels electronic systems. This technology can be vital to the user as it provides a satellite link to the outside world when other mode of communications are unavailable.
The marine telematics system is enabled by a hardware and software device that gets installed into the ships. A SIM card and modem in the device enables communication via cellular network. Telematics derive the data like vessel’s GPS position, accelerometer and speed etc.to be later processed at the data center.
These components accesses and communicates the updated facts such as water temperature, pollutants, level of fuel in the tanker, equipment functioning, and several ship related information to the concerned authorities. This ultimately forms a cornerstone for vehicle tracking and stolen vehicle recovery.
The market is segmented on the basis of component type, applications, and region. By component, it is categorized into hardware, software, and service. By service type, it divided into safety & security, information & navigation, entertainment, and diagnostics. By application, it is classified into commercial, passenger, and defense. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players analyzed in the marine telematics Market include Technoton, AST MSL., Boat Command, Sentinel Marine solutions, Navis, Cybernetica, ki2 Infotech, Market Spectrum, Traxens, and Metocean.
KEY BENEFITS FOR STAKEHOLDERS
• This study presents the analytical depiction of the marine telematics market along with the current trends and future estimations to depict the imminent investment pockets.
• The overall market potential is determined to understand the profitable trends to enable stakeholders gain a stronger foothold in the market.
• The report presents information related to key drivers, restraints, and opportunities with detailed impact analysis.
• The current market is quantitatively analyzed from 2018 to 2026 to highlight the financial competency of the market.
• Porter’s five forces analysis illustrates the potency of the buyers and suppliers.
KEY MARKET SEGMENTS
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o North America
§ Rest of Europe
§ South Korea
§ Rest of Asia-Pacific
§ Latin America
§ Middle East
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