Connected Ship Market Expansion in Asia Pacific Region

The global connected ship market size is estimated to grow from US$ 7,759.9 Mn in 2025 to US$ 13,385.5 Mn by 2032. The market is projected to record a CAGR of 8.10% during the forecast period from 2025 to 2032.

According to Persistence Market Research, the market is experiencing considerable growth driven by the rising demand for integration of automation and Internet of Things (IoT) in the maritime industry, growing focus on safety and security, and government support to develop advanced ships. Prominent companies such as ABB, Kongsberg Gruppen, Wartsila Corporation, and Northrop Grumman Corporation are focusing on adopting strategies such as partnerships, merger and acquisitions, and product innovation to increase their revenue. For instance, in 2024, Wärtsilä, Finland-based manufacturing company achieved record economic and commercial results, with net sales hitting approximately US$ 7.15 billion. The operating profit was around US$ 793.09 million, marking a 78% increase, and net profit was around US$561.36 million, up by 89%. In the entire figures of the company, the marine technologies segment contributed significantly, showcasing exciting growth opportunities for the players present in the market.