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Global marine big data market to grow at over 21% CAGR through 2025 just published

IT Market Research

Marine big data can be described as large amount of data collected by aerial remote sensing, ships, stations, buoys and satellites. In recent years, the data generated and collected by various devices is growing at an overwhelming speed all over the world. In terms of marine sector, countries across the globe have launched observing projects such as Argo, NEPTUNE, GOOS etc. and number of marine observation satellites.

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According to the latest study, based on marine big data, a value of US$ 3,240.5 Mn is estimated to be achieved by the Global Marine Big Data Market by the end of 2025. The study titled “Marine Big Data Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025” submitted to the database of Market Research Reports Search Engine (MRRSE) also projects that the global marine Big Data market will grow at over 21.5% CAGR during the assessment period from 2017 to 2025.

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According to the report, the enormous volume of data generated every day in the marine sector has made it pertinent for implementation of analytics. Collecting, analyzing, and sifting valuable data is a complicated and time-consuming process, the use of Big Data in analytics has become a necessity.

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As the market is still at a nascent phase, the report expects robust growth, along with steady adoption around the globe.

The report analysis divides the global market into various segments and sub-segments which are component, application, data source and region. The component segment is further sub-segmented into    software (data analytics, data discovery, data collection, data management and visualization) and services (consulting, operation, system integration and maintenance).

On the basis of application segment, the market is bifurcated into oil and gas, renewable energy, whale watching, fishery, marine traffic, marine protected area, harbor, dredging, offshore construction and others. The data source segment is divided into environmental, geological data, oceanographic, economic and others.

Geographically, the market is analyzed on the basis of key regions which are North America, South America, Europe, Asia Pacific and Middle East and Africa.

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According to the report, Asia Pacific continues to be an important market for marine Big Data globally. The growth of the market in Asia Pacific is chiefly attributed to growing investments by Japan, China, and South Korea.

In addition to Asia Pacific, North America is another lucrative market for vendors. The report also segments the market on the basis of component into software and services.

Currently, services segment account for a higher revenue share of the market, and the status quo is likely to remain unchanged during the assessment period.

The report profiles the strategies of some of the leading companies operating in the marine Big Data market. Some of the major players are Teradata Corporation, SINAY, Intertrust Technologies Corporation, BigOceanData, Avenca Limited, Smart Ocean, Nautical Control Solutions, LP, Open OS, Data Bricks, Splunk, OceanWise, MarineFIND, Open Ocean, Ocean Networks Canada, BigDataOcean, BMT Group Ltd.

and Data Meer.

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