Marine Onboard Communication and Control Systems Market Share, Growth and Forecast Report, 2030

NEW YORK - April 1, 2024 - PRLog -- In 2023, the marine onboard communication and control systems market was USD 8,733.2 million, and it will rise to USD 14,496.2 million, advancing at a 7.7% compound annual growth rate, by 2030.

This can be because of the rising focus on fleet modernization, increasing global trade, and technological improvement in control solutions and marine communication.

Moreover, the mounting need for higher automation & greater connectivity in maritime vessels, for enhanced efficiency and safety, and the rising need for satellite communication systems further boost the industry expansion.

In addition, there is a great worry for fuel efficiency as well as the environment. The acceptance of new control systems is rising to decrease emissions and improve fuel effectiveness.

APAC was the largest contributor to the industry in 2023, with a 50% share. This can be mainly because of the developing shipping activities, defense modernization efforts, advancing technologies, and growing economies. In addition, the major reason for the dominance of this region is the rising marine fleet size for many seaborne trades.

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It is because of the surging focus on fleet upgrading coupled with technological improvement, the marine onboard communication and control systems industry will continuously grow in the coming years.