Marine Management Software Market Growing at a CAGR 11.2% | Key Player Oracle, ABB, DockMaster, Marina Master, Marinacloud

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Marine Management Software Market Growing at a CAGR 11.2% | Key Player Oracle, ABB, DockMaster, Marina Master, Marinacloud

July 11
11:10 2022
Marine Management Software Market Growing at a CAGR 11.2% | Key Player Oracle, ABB, DockMaster, Marina Master, Marinacloud
Oracle (US), ABB (Switzerland), DockMaster (US), Marina Master (Slovenia), Marinacloud (Croatia), Lloyd’s Register (UK), TIMEZERO (France), Scribble Software (US), MarineCFO (US), Chetu (US), MESPAS (Switzerland), Dockwa (US), Swell Advantage (Canada), Marina Ahoy (Estonia), Harba (Denmark), Harbour Assist (UK), Havenstar (England).
Marine and Marine Management Software Market by Component (Software and Services), Location (Onboard and Onshore), Application (Crew Management, Port Management, and Reservation Management), Deployment Mode, End User, and Region – Global Forecast to 2026

The global Marine and Marine Management Software Market size to grow from USD 1.7 billion in 2021 to USD 2.9 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 11.2% during the forecast period. Factors such as rising need to efficiently manage complex supply chain operations, increase sustainability across marine industry, and increasing demand for centralized administrative of data to reduce overall shipment costs and enhance shipyard productivity are driving the adoption of the marine software market across the globe.

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COVID-19 is disrupting the world, businesses, and economies, thus impacting on the livelihood of people live, their interaction, and the way they manage their businesses. The ability to sustain has become the new normal for enterprises as they shift their focus from growth opportunities and concentrate on implementing drastic measures to mitigate the impact of the COVID-19 pandemic. The competition among major marine software companies is expected to be furious as most upcoming projects are kept on hold due to the pandemic. Hence, several companies will fight to gain a single project. Businesses have already started their efforts to return back to normal and are facing multiple challenges on the customer as well as operational side. In a short time, the COVID-19 outbreak has caused the shipping and maritime industry to face the nastiest circumstances as the workforce in these sectors has been shut down for the safety and prevention of the increase of the pandemic. This impediment has also been affected due to the standstill of all kinds of cargos via water or air during this isolation period as the transportation of such cargos in ships or through the air can be possibly carrying with it the virus from one port to another. All the trade chains, including the major import and export trade, is in the face with a breakdown. Moreover, a ban has also been imposed by various countries on the entry of containers and vessels that are being operated from other ports, especially those that are transported from China. Such obstructed operations have hampered with the logistics and operations of the maritime industry. The maritime, transport and shipping industry is coated with foremost challenges during these pandemic times.

The services segment to hold higher CAGR during the forecast period

Based on components, the marine and marine management software market is segmented into solutions and services. The services segment has been further divided into professional and managed services. These services play a vital role in the functioning of marine software, as well as ensure faster and smoother implementation that maximizes the value of the enterprise investments. The growing adoption of marina software is expected to boost the adoption of professional and managed services. Professional service providers have deep knowledge related to the products and enable customers to focus on the core business, while MSPs help customers improve business operations and reduce overall expenses.

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According to Havenstar, marine software is a multilingual system that supports multi-currency transactions and facilitates secure information sharing between marinas. It is easy for staff to use so that they can keep their customer relations running smooth. It is a marina software tool that supports staff to manage the resources, employees, customers, finances, and security of their marina and boatyards in the most effective way possible.

Some of the key players operating in the marine and marine management software market include Oracle (US), ABB (Switzerland), DockMaster (US), Marina Master (Slovenia), Marinacloud (Croatia), Lloyd’s Register (UK), TIMEZERO (France), Scribble Software (US), MarineCFO (US), Chetu (US), MESPAS (Switzerland), Dockwa (US), Swell Advantage (Canada), Marina Ahoy (Estonia), Harba (Denmark), Harbour Assist (UK), Havenstar (England), Gestalt Systems (Germany), Seahub (US), BlueShell (Switzerland), Raymarine (UK), Ayden Marine (Turkey), OceanManager (US), Innovez One (Singapore), RMS (Australia), Nautical Software (US), CorVant (US). These marine and marine management software vendors have adopted various organic and inorganic strategies to sustain their positions and increase their market shares in the global marine and marine management software market.

Oracle was incorporated in 1977 and is headquartered in California, US. The company is a global leader in delivering a broad spectrum of products, solutions, and services designed to meet the requirements of corporate IT environments, such as platforms, applications, and infrastructure. Oracle’s customers include businesses of various sizes, government agencies, educational institutions, and resellers. The company, directly and indirectly, sells its products and services through a worldwide sales force and Oracle Partner Network, respectively. It specializes in developing, manufacturing, and marketing hardware systems, databases, middleware software, and application software. It provides SaaS offerings that are designed to incorporate emerging technologies, such as IoT, AI, ML, and blockchain. It operates through three business segments: cloud and license, hardware, and services, in more than 175 countries and caters to 4,30,000 customers across banking, telecommunications, engineering and construction, financial services, healthcare, insurance, public sector, retail, and utilities verticals. In the marine software market, Oracle offers the cruise ship technology solution designed specifically to optimize operations on a cruise ship for port management and crew management applications. Oracle offers Shipboard Property Management System (SPMS), Fleet Management System (FMS), Fine Dining System (FDS), and integration facility as well.

ABB was founded in 1988 and is headquartered in Zurich, Switzerland. It is a leading global technology company that strengthens the transformation of society and industry to achieve a more productive, sustainable future. ABB is a technology-driven company that helps raise the performance of the business. It is present in the industry for more than 130 years now. ABB delivers its services in 100 countries and has an employee base of more than 90,000 till 2021. The company operates in the robotics industry, motors and generators, drives, smart buildings, eMobility, marine vessels; turbocharging; data centers; renewable energy; technology; energy; utilities; transport; and oil, gas, and chemicals. And semiconductors industry verticals. ABB assists marine and ports to drive the evolution of sustainable shipping with electrical propulsion, data-driven decision support, and integrated solutions for ship and shore for port management and crew management applications. ABB is paving the way to a zero-emission marine industry by providing greater efficiency and reliability to ship and vessel owners.

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