Marine Management Software Market Research Report—Global Forecast till 2028

Marine Management Software Market Research Report: Information by Component (Software (Tracking and Monitoring, Supply Chain and Logistics, Navigation and Routing, System Testing, Finance and Accounting, Other), Services (Professional Services, Managed Services)), Deployment Mode (On-Premise, Cloud), Location (Onboard, Onshore), Organization Size (SME, Large enterprises), Application (Crew Management, Harbor Management, Port Management, Cruise and Yacht Management, Reservation Management), End User (Defense, Commercial) and Region (Nort...

ID: MRFR/ICT/9285-HCR | March 2022 | Region: Global | 141 pages

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Marine Management Software Market Overview:


The global marine management software market size is predicted to register a significant CAGR of ~10.6% during the forecast period 2018 to 2028 and was valued at USD 1.5 Billion in 2020.


Global Marine Management Software Market, 2018–2028 (USD Billion)
Global Marine Management Software Market USD Billion
Source: MRFR Analysis


The marine management software helps the boatyards, marinas and boat dealers to manage complex supply chain operations efficiently and result in boosting the performance. The software provides ship management data to the ship owners and managers and help them make the operations leaner and more efficient. Further, the rising transportation services through waterways has made it essential for the marine industry to make use of digital technologies for collecting, processing, storing, distributing and presenting data to the participants. The marine management software offers better trade services, enhance safety, and helps to improve the warehouse management system. This software provides the cargo information about the ships departing from various ports, and help to identify the schedules of these ships for better communication and trade. The well-connection information exchange between the ships helps to achieve better coordination, and reduce maritime accidents at bay. Moreover, integration with the enterprise resource planning software allows supply chain visibility, reduce freight delivery cost and results in improved business decisions.


COVID-19 Analysis


The outbreak of the COVID-19 pandemic has had a negative impact on the global economy as it has impacted various sectors, such as BFSI and IT & telecom, significantly. The pandemic has resulted in the implementation of lockdown restrictions and travel limitations in many countries across the globe, resulting in the disruption of the supply chain of goods and materials and the market demand. Moreover, the limitations on trades, shutting down manufacturing sites, decline in the production rate, cash flow constraints, and unavailability of workers have led to the fall in the cash flow margins of the stakeholders in the global market. The virus mostly affected SMEs, but large organizations also had significant impacts. The COVID-19 has also impacted the marine management software market across the globe. The pandemic has caused the maritime industry to face the most unpleasant period due to the halt in transportation of all types of cargo through waterways, as there could have been the chances of carrying of the virus through the shipment of these goods from one port to another thereby affecting a large number of employees working in the industry. This widespread pandemic has largely impacted the shipping industry globally by affecting the trade chains, which mainly include the international import and export trade. Moreover, a ban has been imposed on most of the vessels and containers transported from China by various countries thereby hampering the operations of these industries.


Market Dynamics


The major factors driving the growth of the marine management software market are the rising need for managing complex supply chain operations and database management solutions and increasing demand for waterway transportation activities. However, issues related with cyber threats is hindering the market growth. Although, growing adoption of cloud-based marine management solutions is creating an opportunity in the market.


DRIVERS



  • Rising need for managing complex supply chain operations and database management solutions


The marine and shipping industry involves a number of complex processes and has to deal with dynamic market conditions. The implementation of digital technologies in marine industry emerges an opportunity to modernize operations, and create smarter ships and fleets. The increase in consumer demand for various goods has resulted in the growth of the global supply chain.  This has eventually  surged  the demand to implement new methods for efficiently managing the operations and achieving optimized productivity. The use of marine management software helps in data collection, storage, process, presentation and distribution across different participants in the maritime industry. This software is integrated with advanced technologies such as AI, Analytics, and Big Data, which allows the end users to digitally organize their inventory data, monitor and manage shipping and tracking details and generate electronic invoices with ease. The marine management software helps to minimise time and money spent on shipping, tracking, and compiling data, thereby forming huge demand in the industry.


RESTRAINTS



  • Issues related with cyber threats


The threat of cyber-based attacks targeting marine management software is a key concern in the global market. Cyber threats are an important concern for the effective functioning of the marine management software. Cyber threat refers to a malicious act, which leads to damage and disruption of software, and data theft, hindering system effectiveness. Data breach, unauthorized command, and Denial of Service (DoS) are some of the types of cyberattacks. Cyberattacks cause system failure, which leads to improper functioning of the software. Henceforth, the marine management software must be designed to prevent cyber-attacks and mitigate their risks. Cybersecurity plays an important role in ensuring safety of transporting, tracking and managing database in the marine management software.


Value chain analysis


The global marine management software market has witnessed significant growth in the past decade due to technological changes and is expected to grow at a steady rate in the upcoming years. The value chain analysis of the marine management software market comprises four major levels: hardware/software providers, cloud vendors/service providers, system integrators, and end users


Segmentation


The global marine management software market has been segmented based on component, deployment mode, location, organization size, application, end user and region.


By component, the global marine management software market has been divided into software and services. The software segment is further bifurcated into tracking and monitoring, supply chain and logistics, navigation and routing, system testing, finance and accounting and other. The services segment is further divided into professional services and managed services.


Based on deployment mode, the global marine management software market has been segmented into on-premise and cloud.


Based on location, the global marine management software market has been segmented into onboard and onshore.


Based on organization size, the global marine management software market has been segmented into SME and large enterprises.


Based on application, the global marine management software market has been segmented into crew management, harbor management, port management, cruise and yacht management, and reservation management.


Based on end user, the global marine management software market has been segmented into defense and commercial.


The marine management software market has been analyzed for five regions—North America, Europe, Asia-Pacific, Middle East & Africa and South America.


Regional Analysis


Geographically, the global marine management software market has been categorized as North America, Europe, the Asia-Pacific, the Middle East & Africa, and South America.  North America is likely to be the dominant regional market due to the faster adoption of advanced technologies in developed countries in the region—the US, Canada, and Mexico. This is mainly due to the region is one of the most technologically advanced regions with the presence of a large number of market players such as Oracle (US), DockMaster (US), Scribble Software (US), and  MarineCFO (US). The Asia-Pacific is expected to advance at the highest CAGR during the forecast period due to the growing utilization of technologies. The growth of the marine management software market in Asia-Pacific is expected to be influenced by a growing adoption of modern technologies, as well as the increasing numbers of small and medium enterprises (SMEs). The increasing technological adoption, focus on innovations obtained from R&D and technology, more IT organizations, and ongoing projects will boost the market in the Asia-Pacific region.


Competitive Analysis


The global marine management software market is witnessing high growth mainly due to the growing need for managing complex supply chain operations and database management solutions and increasing demand for waterway transportation activities. Major players have opted for partnerships, acquisitions, and product developments as their key organic growth strategies to enhance their positions in the market and cater to the demands of organizations across end-use verticals. Additionally, the industry players are working towards advancing their product offerings to cater to the rising needs of end-use organizations to provide robust services intended towards achieving accuracy and sustaining the clients for longer relationships.


Key Players



  • Oracle (US)

  • ABB (Switzerland)

  • DockMaster (US)

  • Marina Master (Slovenia)

  • Lloyd's Register (UK)

  • Marinacloud (Croatia)


The key players in the global marine management software market are identified based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. These include Oracle (US), DockMaster (US), ABB (Switzerland), Marinacloud (Croatia), Lloyd's Register (UK), Marina Master (Slovenia), MarineCFO (US), Chetu (US), TIMEZERO (France), Scribble Software (US), Harba (Denmark), MESPAS (Switzerland), Dockwa (US), Swell Advantage (Canada), Marina Ahoy (Estonia). The key strategies adopted by most market players are partnerships, acquisitions, agreements/collaborations, and product developments, among others.


Key Developments



  • On 13th July 2021, ABB launched a new digital solution- Ability Marine Fleet Intelligence Advisory, which helps to optimize ship performance across fleets. This combines the power of cloud-based analytics and reporting along with user-friendly visualizations to guide the managers, shipowners, and charterers and help them bring greater effeciency and sustainability.

  • On 10th June 2021, Yaringa Boat Harbour, located at south east of Melbourne on the waterways of the northern arm of Westernport Bay, partnered with Marina Master to improve their marina management system and customer experience.

  • On 28th April 2021, Lloyd’s Register and Falkonry, a innovation leader in Operational AI, to combine Operational AI Digital Twins into Asset Performance and Risk Management solution for chemical, oil & gas and heavy industries. This partnership will help to generate a holistic plan for ongoing maintenance activity based on optimising productivity, new operatinal conditions and profit by reducing unscheduled downtime.

  • On 17th February 2021, ABB Marine & Ports expands its business in Turkey and Saudi Arabia to grow its presence with these regions and support existing customers. This has strengthen the company’s ability to work closely with its increasing client base in every country and collectively boost the effeciency and sustainability in ports, shipping and offshore sectors in these regions. 


Report Overview


This study estimates revenue growth at the global, regional, and country levels and offers an overview of the latest developments in each of the sub-sectors from 2018 to 2028. For this analysis, MRFR segmented the marine management software market has based on component, deployment mode, location, organization size, application, end user, and region/country.


Based on Component


  • Software

    • Tracking and Monitoring

    • Supply Chain and Logistics

    • Navigation and Routing

    • System Testing

    • Finance and Accounting

    • Other



  • Services

    • Professional Services

    • Managed Services




Based on Deployment Mode


  • On-Premise

  • Cloud


Based on Location


  • Onboard

  • Onshore


Based on Organization Size


  • SME

  • Large enterprises


Based on Application


  • Crew Management

  • Harbor Management

  • Port Management

  • Cruise and Yacht Management

  • Reservation Management


Based on End User


  • Defense

  • Commercial


Based on Region


  • North America

  • Europe

  • Asia-Pacific

  • Middle East & Africa

  • South America



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 1.5 billion 2020
  CAGR   10.6%
  Base Year   2020
  Forecast Period   2021–2028
  Historical Data   2018 & 2019
  Forecast Units   Value (USD Billion)
  Report Coverage   
  Segments Covered   â€¢ Component (Software (Tracking and Monitoring, Supply Chain and Logistics, Navigation and Routing, System Testing, Finance and Accounting, Other), Services (Professional Services, Managed Services)) • Deployment Mode (On-Premise, Cloud) • Location (Onboard, Onshore) • Organization Size (SME, Large enterprises) • Application (Crew Management, Harbor Management, Port Management, Cruise and Yacht Management, Reservation Management) • End User (Defense, Commercial)
  Geographies Covered   â€¢ North America (US, Canada, and Mexico) • Europe (UK, Germany, France, and Rest of Europe) • Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific) • Middle East & Africa • South America
  Key Vendors   
  Key Market Opportunities   
  Key Market Drivers   â€¢ Drivers • Rising need for managing complex supply chain operations and database management solutions • Increasing demand for waterway transportation activities • Opportunities • Growing adoption of cloud-based marine managment solutions • Restraint • Issues related with cyber threats • Impact of COVID-19 • Impact on the IT Industry • Impact on IT Expenditure • Impact on overall market y-o-y from 2020-2028


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Frequently Asked Questions (FAQ) :

The global marine management software market was valued at USD 1.5 billion in 2021.

The global marine management software market is expected to exhibit an ~10.6% CAGR rate by 2028.

The North American region currently dominates the market and is expected to retain its dominance throughout the forecast period.

Crew Management segment is the most lucrative application in the global marine management software market.