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Maritime Safety System Market worth $47.8 billion by 2029 – Exclusive Report by MarketsandMarkets™

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CHICAGO, May 29, 2024 /PRNewswire/ — The market for maritime safety systems is expected to expand in the future due to the growing usage of autonomous vessels, improved cybersecurity protocols, and cutting-edge technologies like artificial intelligence, the Internet of Things, and big data analytics. Combined, environmental monitoring, enhanced communication, integration with smart ports, and regulatory compliance will increase maritime operations’ sustainability, efficiency, and safety.

The Maritime Safety System Market is estimated to grow from USD 30.2 billion in 2024 to USD 47.8 billion in 2029, at a CAGR of 9.6% during the forecast period, according to a new report by MarketsandMarkets™. The Maritime Safety System Market is driven by the rising need to manage complex supply chain operations and enhance sustainability across the marine industry. Increasing awareness about maritime safety, adherence to regulatory compliances and standards, and the growth in marine trade and freight transport activities further fuel the demand for advanced safety systems. These factors collectively contribute to the robust expansion and innovation within the Maritime Safety System Market.

Browse in-depth TOC on “Maritime Safety System Market”

280 – Tables
70 – Figures
300 – Pages

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Scope of the Report

Report Metrics

Details

Market size available for years

2019–2029

Base year considered

2023

Forecast period

2024–2029

Forecast units

USD Billion

Segments Covered

Offering (Solutions & Services [Professional Services {Training & Consulting, Risk Assessment & Investigation, Support & Maintenance} and Managed Services]), Security type (Port & Critical infrastructure Security, Coastal Security, Vessel Security, Crew Security, Cargoes & Containers Safety, Ship System & Equipment (SSE) Safety, Other Security Types), System (Ship Security Reporting System, Automatic Identification System (AIS), Global Maritime Distress Safety System (GMDSS), Long Range Tracking & Identification (LRIT) System, Vessel Monitoring & Management System, Other Systems) Application (Loss Prevention & Detection, Security & Safety Management, Counter Piracy, Monitoring & Tracking, Environment Protection,  Search & Rescue, Communication Management and Other Applications), End User (Government & Defense, Marine & Construction, Oil & Gas, Shipping & Transportation [Shipping Companies, Ship Crews Passengers & Cargo Owners] and Other End Users).

Geographies covered

North America, Europe, Asia Pacific, Middle East & Africa, Latin America

Companies covered

are Honeywell (US), Thales Group (France), Smiths Group (UK), Elbit Systems (Israel), Northrop Grumman (US), Westminster Group (UK), Raytheon Anschutz (Germany), Saab Group (Sweden), OSI Maritime Systems (Canada), BAE Systems (UK), L3Harris Technologies (US), KONGSBERG (Norway), Leonardo (Italy), ATLAS ELEKTRONIK (Germany), Airbus (Netherlands), Terma Group (Denmark), Nuctech (China), ARES Security (US), Rolta (India), HALO Maritime Defense Systems ( US), HudsonAnalytix (US), Consilium ( Sweden), Maindeck (Norway), Captain’s Eye (Israel), ioCurrents (US), Harbor Lab (Greece), Smart Ship Hub (Singapore), SailRouter (Netherlands), Orca AI (England), Anduril Industries (US), PierSight (India) and EyeROV (India).

By offering, the services segment to account for higher CAGR during the forecast period.

Marine managers and vendors rely on technical support and consulting services to effectively deploy technology solutions. These services facilitate quicker and more efficient implementation, leading to optimized operations across various sectors. Managed by solution and service providers, these services are crucial for ensuring access to shared information and resources among dispersed parties within the maritime industry. Cloud platforms are particularly targeted towards ship management tasks like procurement, bunkering, crewing, training, and performance enhancement. With the maritime sector increasingly adopting digital solutions, cloud services are becoming increasingly vital in supporting these advancements.

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By System, Ship Security Reporting System is expected to hold the largest market size for the year 2024.

A ship security reporting system is a crucial alerting mechanism designed to send distress signals to the maritime security center located at the Horn of Africa (MSCHOA) and UK Maritime Trade Operations (UKMTO). This system was implemented to address the rising threat of pirate attacks in the Gulf of Aden and off the coast of Somalia. When a distress signal is activated, it is transmitted to the naval forces responsible for ensuring maritime security in these regions. The ship security reporting system provides a significant, multifaceted advantage to vessels by offering continuous monitoring within a designated range. Upon receiving a distress signal, MSCHOA or UKMTO verifies its authenticity. If confirmed as genuine, critical vessel information, including the vessel’s name, IMO number, MMSI, and location, is promptly retrieved and relayed to the appropriate task forces. The transmission of signals from the SSRS center to the task forces via the mercury system takes less than five minutes. This efficient process enhances maritime security, allowing ships to navigate the most vulnerable waters with greater confidence and protection.

By End User, oil & gas is projected to grow at the highest CAGR during the forecast period.

In the oil & gas sector within the Maritime Safety System Market, maritime transportation stands out as a secure and efficient mode of conveyance. Over the years, there has been a remarkable 98% reduction in oil spills from tankers globally since 1970, a testament to the safety protocols implemented in vessels and the rigorous training of crew members. Oil ranks as the largest commodity transported via water, known for its cost-effectiveness and efficiency compared to other forms of transportation. With increasing exploration and production activities in deep-water and ultra-deep-water regions, there is a heightened demand for advanced safety systems to mitigate risks and ensure operational integrity. Investments in real-time monitoring, emergency response solutions, and regulatory compliance are paramount, fueling growth in this critical sector of the maritime industry.

Middle East & Africa is expected to grow at the second-highest CAGR during the forecast period.

The waterways within the Middle East & Africa (MEA region) hold immense global significance, facilitating the substantial export of oil and natural gas and serving as vital links between Eastern and Western traders through key passages like the Red Sea and Suez Canal. However, political tensions in this region have amplified the vulnerabilities of these waterways, exacerbated by challenges such as the lack of internal stability in bordering governments, inadequate maritime security capabilities, and potential naval threats from entities like the government of Iran. To remain competitive and aligned with global advancements, governments across the MEA are prioritizing a shift towards information and innovation-driven societies.

Top Companies in Maritime Safety System Market:

The major maritime safety system solutions and service providers Honeywell (US), Thales Group (France), Smiths Group (UK), Elbit Systems (Israel), Northrop Grumman (US), Westminster Group (UK), Raytheon Anschutz (Germany), Saab Group (Sweden), OSI Maritime Systems (Canada), BAE Systems (UK), L3Harris Technologies (US), KONGSBERG (Norway), Leonardo (Italy), ATLAS ELEKTRONIK (Germany), Airbus (Netherlands), Terma Group (Denmark), Nuctech (China), ARES Security (US), Rolta (India), HALO Maritime Defense Systems ( US), HudsonAnalytix (US), Consilium ( Sweden), Maindeck (Norway), Captain’s Eye (Israel), ioCurrents (US), Harbor Lab (Greece), Smart Ship Hub (Singapore), SailRouter (Netherlands), Orca AI (England), Anduril Industries (US), PierSight (India) and EyeROV (India). These companies have used both organic and inorganic growth strategies such as product launches, acquisitions, and partnerships to strengthen their position in the Maritime Safety System Market.

Recent Developments:

In December 2023, Honeywell announced the acquisition of SCADAfence, a prominent provider of cybersecurity solutions for monitoring large-scale OT and IoT networks. SCADAfence’s expertise lies in asset discovery, threat detection, and security governance, all vital for bolstering cybersecurity in industrial and building management programs.In October 2023, Smith’s Detection unveiled the HI-SCAN 7555 DV, a dual-view X-ray scanner featuring enhanced capabilities. This scanner offers superior image quality, automatic explosives detection, and a compact footprint, making it ideal for efficient screening in high-threat applications.In September 2023, OSI Maritime Systems (OSI) announced the finalization of a Long-Term Partnership Agreement (LTPA) with PGZ Stocznia Wojenna Shipyard (PGZ SW). Under this agreement, OSI will be PGZ SW’s preferred partner for all new-build and retrofit WECDIS-based navigation systems in the Polish Navy.In August 2023, Anschütz enhanced the capabilities of its Electronic Chart Display and Information System (ECDIS) with customized functions to support safe and efficient operations for offshore and research vessels, as well as for blue and grey forces.In March 2023, The partnership between Anschütz and StormGeo, a prominent provider of weather intelligence and decision-support solutions in the shipping industry and part of Alfa Laval, signifies a move toward fully paperless ship governance.In January 2023, Anschütz launched the NautoPilot 5000NX, a new autopilot for ships featuring a 7-inch graphical touchscreen that clearly displays all navigational information. With intuitive operation, crews can access heading, course, and track control steering modes easily.

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Maritime Safety System Market Advantages:

Advanced monitoring and detection capabilities offered by maritime safety systems raise the standard of safety and security in maritime operations. These technologies aid in the prevention of mishaps, crashes, and illegal entry into ports and vessels.These technologies allow for the timely detection of potential hazards and incidents by providing real-time surveillance of maritime operations. To maintain safe navigation, this entails monitoring ships, the weather, and other important factors.By giving precise and current information on vessel movements, maritime safety systems help improve navigation and traffic management. This aids in route optimisation, traffic reduction, and accident avoidance in crowded ports and shipping lanes.Maritime safety systems facilitate prompt and well-coordinated response actions in the event of emergencies or accidents. They offer vital information and communication resources that support the management of rescue efforts and the reduction of event impact.These systems aid ensure the adherence of maritime operators to global maritime safety norms and regulations, including those established by the International Maritime Organisation (IMO). In addition to preventing fines and other consequences, compliance guarantees safer operations.Through the detection of oil spills, monitoring and control of pollutants, and enforcement of environmental standards, maritime safety systems help to safeguard the environment. This lessens the negative effects of maritime activity on the ecosystem.Operational efficiency is increased when automation technologies are integrated into maritime safety systems. The accuracy and dependability of safety measures are increased and the necessity for personal intervention is decreased through automated monitoring, reporting, and alerting.

Report Objectives

To define, describe, and predict the Maritime Safety System Market, by offering (solutions and services), security type, system, application, end user, and region.To describe and forecast the Maritime Safety System Market, in terms of value,by region—North America, Europe, Asia Pacific, Middle East & Africa and Latin AmericaTo provide detailed information regarding major factors influencing the market growth (drivers, restraints, opportunities, and challenges)To strategically analyze micromarkets with respect to individual growth trends, prospects, and contribution to the overall Maritime Safety System Market.To profile key players and comprehensively analyze their market positions in terms of ranking and core competencies, along with detailing the competitive landscape for market leaders.To analyze competitive developments such as joint ventures, mergers and acquisitions, product developments, and ongoing research and development (R&D) in the Maritime Safety System MarketTo provide the illustrative segmentation, analysis, and projection of the main regional markets.

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Get access to the latest updates on Maritime Safety System Companies and Maritime Safety System Industry 

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Chaos Agents Private Alpha launches along with crowdfunding campaign on Republic, oversubscribed within 6 hours

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Popularium’s first game sees more than 20,000 players applying for 1,000 Alpha spots, closes $50,000 equity crowdfunding target in less than 6 hours

LOS ANGELES, Dec. 26, 2024 /PRNewswire/ — Chaos Agents, the world’s first autobattler-royale, designed by Richard Garfield and the first game developed by Popularium, launched its private Alpha today. Since the announcement of the private Alpha at Gen Con 2024 in Indianapolis, more than 20,000 players have signed up for 1,000 seats. To meet the demand, Popularium will increase the number of Alpha seats to 5,000 for the initial launch of the Alpha, and plans to expand the Alpha beyond 10,000 players in early 2025.

“We have been overwhelmed by the response to the Alpha announcement,” said Arka Ray, President and CTO at Popularium. “The number of players who want to join the Alpha and experience Richard’s vision has been over 20 times more than we anticipated. And we continue to get hundreds of new applications each week. We’re expecting more than 30 thousand applicants by year end. The team is working through the holidays to accommodate as many players as possible at this early stage of the Alpha. We want every applicant to have an opportunity to experience Chaos Agents as soon as possible.”

To prepare for this rapid expansion, Popularium launched an equity crowdfunding campaign on the Republic platform. The campaign was fully committed and then oversubscribed within six hours of launching publicly. The Popularium campaign on Republic enables members of the public to invest in Popularium. Ray attributed the rapid close of the campaign to players and fans of Popularium co-founders Richard Garfield (Magic: the Gathering) and Jonathan Bankard (Hearthstone, World of Warcraft, Diablo, Command and Conquer) wanting to directly support the development of their next original game.

“This is an exciting time for Chaos Agents,” said Garfield in a community Q&A on the occasion of launch of the Chaos Agents Alpha and crowdfunding campaign on Republic. “The game is being really well received by players, much more so than I expected at this early stage. There are so many different types of play modes that we want to build into Chaos Agents, and thanks to the community and the technology we have built, it’s becoming clear what we can and should be building. There’s no more exciting time for a game’s development when players are clearly enjoying it, but at the same time the opportunities for improvements seem endless.”

The Alpha Launch follows the announcement that Popularium has committed to the “forever multiplayer game” model for Chaos Agents. Through the use of dedicated servers and its proprietary Chaos Cloud Gaming Engine, Popularium plans to ensure that Chaos Agents will be a multiplayer game that “can’t be killed” or taken offline. Players are expected to always have a way to play the game with the globally unique superheroes they have recruited to their team. Garfield and Ray attributed the positive response from this announcement as having helped generate additional interest in the Chaos Agents Alpha and crowdfunding campaign.

In Chaos Agents, the first game of the “autobattler-royale” genre, players coach and guide a globally unique superhero – their Chaos Agent – to victory in a grand battle royale against dozens of other Agents. The player coaches and powers their hero up through deep, strategic card play similar to Garfield’s legendary games, such as Magic and Keyforge, and then sits back and watches as their Agent goes to battle, preparing for the next round of upgrades. Each Agent is globally unique – which means that only one player in the world will be able to play with an Agent at a time and become the global expert on that Agent.

“Evolving and creating new genres is just so much fun,” said Jonathan Bankard, Game Director for Chaos Agents. “All of us at Popularium have worked on projects like Magic and Hearthstone that started as small dreams that ended up impacting many more players than we initially hoped. We are trying something similar with Chaos Agents–to bring the autobattler genre of games to many more people through the proven format of battle royales. The advantage we now have is the early involvement of our community in helping us polish this uncut gem into a brilliant, shining diamond through their play and now investments that let them own a piece of Popularium.”

Chaos Agents plans to expand its Alpha in late January together with the Second Chaos World Championship, and plans to expand the Alpha capacity each month before entering Early Access in late 2025. Players can sign up for the Alpha at popularium.com and request priority access by joining the Chaos Agents Discord server.

About Popularium: Popularium was founded by an all-star team of gaming industry veterans behind the largest multiplayer games and platforms in history, such as Magic: The Gathering, Hearthstone, World of Warcraft, and Xbox Live, to innovate and create gaming experiences. Popularium started from a simple idea: What would games look like if they involved the community from an early stage? What if this community had the tools to impact the narrative and economy by playing games the way they want to, rather than the way games wanted them to play? Chaos Agents, designed by Popularium co-founder Richard Garfield, is Popularium’s first effort to bring this vision to life.

Press Contact: Chris Gale, Chris@GaleStrategies.com 

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MoonFox Analysis | “ACGN Merch Economy” Surge and the Breakthrough of the “Dimension Wall” in ACGN Consumption

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About us: Aurora Mobile (NASDAQ: JG) established in 2011, is a leading customer engagement and marketing technology service provider in China. Its business includes notification services, marketing growth, development tools, and data products. As its sub-brand, MoonFox Data is a leading expert in data insights and analysis services across all scenarios, aiming to help companies gain market insights and empower precise decision-making.

SHENZHEN, China, Dec. 26, 2024 /PRNewswire/ — In today’s cultural consumption landscape, the “ACGN Merch Economy” (Anime, Comics, Games, Novels) is rapidly gaining momentum. The consumption of “ACGN Merch” has emerged as a hot topic in the market. This concept originates from ACGN culture and refers to an economic model centered around virtual content, including anime, games, and novels. It generates commercial value through various means, such as derivatives, copyright operations, and offline activities. With the widespread dissemination of ACGN culture and the continuous expansion of its audience, the influence of the “ACGN Merch Economy” has transcended traditional boundaries, permeating mainstream culture and the real economy. This phenomenon blurs the lines between the previously separate worlds of ACGN and the real world. As the “ACGN Merch Economy” continues to extend its influence across multiple dimensions, its market impact and commercial value are becoming increasingly evident.

I. User Expansion: “ACGN Merch” Becomes the New Social Currency for the Younger Generation

Historically, ACGN culture has been viewed as a niche subculture, but it is now trending toward wider popularity and mainstream acceptance. According to public data, the size of China’s ACGN industry reached RMB 221.9 billion in 2023, with projections estimating it will grow to RMB 270 billion by 2024. By 2029, the market value is expected to double, exceeding RMB 590 billion. The industry is primarily divided into content markets and peripheral derivative markets. In 2023, the peripheral derivative market accounted for 46.1% of the industry, reflecting a significant increase of 18.1% since 2016. This notable growth underscores the rise of the peripheral derivative market as a key driver in the ongoing expansion of the ACGN industry.

Chinese ACGN Industry Market Size

Year

 

Industry Size (Billion RMB)

 

Annual Growth Rate

2023

2219

2024E

2750

Annual Growth 16.6%

2029E

5900+

Data Source: Zero Power Industrial Research Institute

ACGN Industry Market Distribution

2016

2023

ACGN Content Market

72.0 %

53.9 %

ACGN Peripheral Derivative Market

28.0 %

46.1 %

Data Source: Zero Power Industrial Research Institute

According to public reports, China’s general ACGN user base has grown substantially, reaching approximately 460 million by 2021. As ACGN culture continues to break through the “dimension wall,” this large user base is still expanding. The younger demographic, particularly those aged 25 and under, is undoubtedly the main force driving ACGN culture. Data from MoonFox iMarketing indicates that these mobile internet users show a strong preference for ACGN communities and anime and manga-related apps. Additionally, the ACGN-related mobile internet industry exhibits a clear holiday effect. Monitoring data from MoonFox iApp reveals that both the anime and manga industry and ACGN community applications see a noticeable increase in active user numbers during the winter and summer holidays.

TGI (Target Group Index) of User Preferences of Mobile Internet Users Aged 25 and Under

Industry

TGI

ACGN Community

280

 

Couple Interaction

276

 

Higher Education

269

 

Anime & Manga

247

 

Image Sharing

244

 

Gaming Platform

231

 

Game Assistant

229

 

Card & Board Games

220

 

Music Games

216

 

Strategy & Puzzle

215

Data Source: MoonFox iMarketing, Data Cycle: October 2024

Changes in User Base for ACGN and ACGN Community Apps (Unit: 10,000)

 

Year/Month

 

Anime & Manga

ACGN Community

2024-01 (Winter Vacation)

3,893.48

350.53

2024-02 (Winter Vacation)

4,152.07

342.98

2024-03

3,651.66

354.12

2024-04

3,466.41

320.66

2024-05

3,345.23

298.43

2024-06

3,555.53

317.29

2024-07 (Summer Vacation)

4,006.55

338.06

2024-08 (Summer Vacation)

3,805.50

361.99

2024-09

3,062.02

288.87

2024-10

3,126.15

331.54

Data Source: MoonFox iApp, Data Cycle: January 2024November 2024

As the data indicates, ACGN culture is no longer confined to fringe groups; it is gradually becoming part of mainstream culture, particularly among the younger generation, where its influence is profound. “ACGN Merch,” as a product of ACGN culture, have transcended mere entertainment consumption and emerged as a new medium for social interaction, acting as a form of “social currency” for youth. This shift is driven by a strong demand for personalization and community identity among young people. In their social circles, shared interests and hobbies serve as bonds connecting individuals, and “ACGN Merch”—whether in the form of anime character merchandise, in-game items, or related cultural symbols—become tools for self-expression and identity building. By sharing and exchanging these “ACGN Merch,” young people create common cultural spaces and social networks, enhancing their connections and sense of belonging.

II. Expanding Scenarios: ACGN Continues to Step Deeper into the Real World

As ACGN culture continues to permeate various aspects of life, its commercial scenarios are expanding from the virtual realm into the real world. In recent years, ACGN retail brands have emerged rapidly, serving as a vital bridge between ACGN and mainstream culture. Numerous ACGN brand retail stores are experiencing significant growth, with KAYOU opening 318 locations. This expansion of ACGN retail outlets has also spurred the development of related industries, including anime exhibitions, themed cafes, and a range of online communities and offline gatherings. As a result, ACGN culture is constructing a diverse ecosystem that integrates various facets of entertainment and social interaction.

Number of ACGN Retail Stores

 

Brand

Number of Stores

 

KAYOU

318

IPSTAR

139

BOOM COMIC

58

GOODSLOVE

50

MarchMonster

37

Kyoko ACGN MerchStore

35

GUGUGUGU

34

Mancool

34

HEYZAKKA

25

Karasumaya

23

Data Source: Lei Newspaper, Data Cycle: November 2024

This ecosystem not only enriches consumer experiences but also presents new business opportunities for traditional physical enterprises. According to the State-owned Assets Supervision and Administration Commission of Shanghai, the Bailian ZX Creative Center—the first commercial complex in China focused on ACGN culture—transformed from the former Hua Lian Shopping Mall. It has successfully gathered major overseas ACGN retail and social cultural experiences. By the end of 2023, its sales reached RMB 300 million, with daily foot traffic increasing by 3 to 8 times post-transformation.

In addition to physical stores, IP marketing has become a crucial driver for ACGN culture’s rapid integration into the mainstream. In recent years, many restaurant brands have begun targeting the ACGN market. Notable brands such as Pizza Hut, HEYTEA, and KFC have engaged in ACG IP marketing, collaborating with popular ACGN franchises like Naraka: Bladepoint, Light and Night, and Genshin Impact to release limited-edition products and events. These collaborations not only cater to the collection and experiential needs of ACGN fans but also generate buzz and enhance brand visibility, boosting the youthful appeal of these companies.

Partial Restaurant Brand Collaborations with ACGN IPs

Date

Brand

 

Co-branding IP

2024.01

Pizza Hut

Naraka: Bladepoint

2024.03

HEYTEA

Light and Night

2024.04

NAIXUE

Arknights

2024.04

ChaPanda

Honkai: Star Rail

2024.05

Auntea Jenny

Howl’s Moving Castle

2024.05

ChaPanda

Tuntunzai

2024.05

YH.TANG

The King’s Avatar

2024.07

KFC

Genshin Impact

2024.08

Luckin Coffee

Black Myth: Wukong

The commercial value of ACGN culture extends far beyond mere entertainment and consumption; it has evolved into a cultural phenomenon, societal trend, and even an economic model. The purchasing power and enthusiasm of the ACGN demographic are significant and should not be underestimated. In marketing strategies, leveraging ACGN culture provides brands with fresh perspectives and approaches. By collaborating with ACGN IPs, brands can forge deeper emotional connections with young consumers, enhancing brand awareness and loyalty through “ACGN Merch” and the “Fans Economy.” These cross-industry collaborations not only drive innovation and diversification in marketing strategies but also enrich brand performance, ultimately propelling the prosperity of the ACGN economy.

Our Information:

Website: https://www.moonfox.cn/
Contact number: 400-888-0936

Contact us:

Name: Felix
Title: Director of Sales, Industry Insight Division
Tel: +86 -13366276383
Email:zhouzt@jiguang.cn
Address: 608/F, Tower B, Wintrust Center, No. 1 Xidawang Road, Chaoyang District, Beijing, China

Name: Janette Zhou
Title: Marketing Manager
Tel: +86-13928239332
Email: zhouxt@jiguang,cn
Address: 608/F, Tower B, Wintrust Center, No. 1 Xidawang Road, Chaoyang District, Beijing, China

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SOURCE Aurora Mobile Ltd

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Grupo Financiero Banorte, chaired by Carlos Hank-González, has been awarded as “Bank of the year 2024” in Mexico by The Banker

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The Banker awarded Grupo Financiero Banorte for its strength and service in digital banking, thanks to its investment in technology and innovation It was also recognized for the increase in the number of transactions from the mobile app in its programmed savings and fund investment services

MEXICO CITY, Dec. 26, 2024 /PRNewswire/ — Grupo Financiero Banorte was recognized as the “Bank of the Year 2024” in Mexico by the prestigious international publication The Banker, based on its financial results and for its innovation and strength in digital banking, its broad portfolio of services since its implementation, and for incorporating new technologies such as artificial intelligence, behavioral analytics, data science and biometric authentication.

Grupo Financiero Banorte’s strategy in innovation and technological investment allowed it to streamline operations, improve the customer experience, develop hyper-personalized offers, and remain the best bank in Mexico.

“We are very pleased to win for the fifth time the Bank of the Year Award in Mexico granted by The Banker. We are proud to have 125 years of experience operating in the Mexican market and this recognition distinguishes us as an innovative and cutting-edge financial institution, capable of maintaining its competitive position in the market,” said Carlos Hank-González, Chairman of the Board of Grupo Financiero Banorte.   

Marcos Ramírez Miguel, CEO of Grupo Financiero Banorte, stated that “in this new digital era that transforms the way people operate and all their activities, Banorte stands out for its high level of customer service, adapting quickly to the demands of users who seek a personalized and accessible service at any time and from anywhere”.

The Banker evaluated the financial strength, profitability and results of more than 5,000 banks.

Participating institutions were rated on their ability to deliver strong financial results and transform challenges into opportunities in an ever-changing business environment.

The Banker, the most important specialized publication for international banking, awards this prize annually, which is considered a standard of excellence. Banorte previously won it in 2022, 2020, 2018 and 2016.

Learn more about The Banker award: https://www.thebanker.com/The-Banker-s-Bank-of-the-Year-Awards-2024-1733356897 

About Banorte
Grupo Financiero Banorte (GFNorte) is the largest financial institution in Mexico. It provides financial services to individuals and corporations through its banking, brokerage, fund management, insurance, pension, leasing and factoring, warehousing, portfolio management and remittance businesses.
GFNorte also includes Afore XXI Banorte, the largest retirement savings fund in Mexico in terms of assets under management. GFNorte is a public company listed on the main index of the Mexican Stock Exchange and has 33,696 employees, 1,177 branches, 11,027 ATMs, 220,237 POS terminals and 17,960 correspondents.

LinkedIn: Grupo Financiero Banorte
Twitter: @GFBanorte_mx
Facebook: Grupo Financiero Banorte.
Contact the External Communications team for more media information: prensabanorte@banorte.com
Contact number: +52 (55) 8471-7481 

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SOURCE Banorte

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