Global Integrated Marine Automation System Market, By Autonomy (Autonomous, Remotely-Operated, Partial Automation), Ship Type (Commercial Ship, Defense), Component (Product, Services), End- User (OEM, Aftermarket), Solution (Power Management System, Vessel Management System, Process Control, Safety System), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029
Market Analysis and Insights Global Integrated Marine Automation System Market
Data Bridge Market Research analyses the integrated marine automation system market will exhibit a CAGR of 2.47% for the forecast period of 2022-2029 and is likely to reach the USD 4.67 billion by 2029.
A distributed monitoring and control system is the maritime automation system. Because of its versatile architecture, this system may be used for a wide range of jobs in the offshore business. Power management, auxiliary machinery control, cargo monitoring and control, and ballast/bunker monitoring and control are among the key roles of these systems. Furthermore, the solutions aid in improving overall vessel safety, saving space, enhancing operational efficiency, and lowering training costs.
The upsurge in the adoption rate of internet of things (IoT) for real-time decision making will act as a key element driving market expansion. The integrated marine automation system market is also being driven by factors such as rapid urbanization as well as industrialization and increase in technological development. In addition to this, the rise in software development and growing demand for situational awareness in vessels will expand the integrated marine automation system market. Furthermore, growing demand for product from various end-use industries and increased budgets of shipping companies for the incorporation of ICT in vessels will act as major factors influencing the growth of integrated marine automation system market. Another significant factor that will cushion the integrated marine automation system market’s growth rate is the rising utilization of automated systems to reduce human errors and risks. Also, development of propulsion systems will further propel the market’s growth rate during the forecast period of 2022-2029.
Moreover, development of new port cities in emerging economies and rising number of initiatives for the development of autonomous ships will create beneficial opportunities for the growth of the market. Additionally, development of sensor technologies for enhanced navigation systems in vessels and revision as well as formulation of marine safety regulations in various countries will act as market driver and further boost new opportunities in the forecast period mentioned above.
However, the high cost associated with system and vulnerability linked with cyber threats will hamper the market’s growth rate. Also, cost-expensive customization of marine automation systems will further pose a challenge to the market. Other factors such as the dearth of skilled workforce to handle and operate marine automation systems and scarcity of common standards for data generated from different subsystems in a ship will obstruct the market’s growth.
This integrated marine automation system market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on integrated marine automation system market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Integrated Marine Automation System Market Scope and Market Size
The integrated marine automation system market is segmented on the basis of autonomy, ship type, component end- users and solution. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of autonomy, the integrated marine automation system market is segmented into autonomous, remotely-operated, and partial automation.
- Based on protection mechanism, the integrated marine automation system market is segmented into feeder protection, motor protection, transmission line, generator protection, busbar protection, capacitor bank, and breaker.
- On the basis of ship type, the integrated marine automation system market is segmented into commercial ship and defense. Commercial ship segment is divided into bulk carrier, gas tanker, tankers, passenger cruise, dry cargo, and others such as specialized vessels and offshore vessels. Defense segment is divided into aircraft carrier, corvettes, amphibious warfare, destroyers, frigates, other surface ships and submarine and Uuvs.
- The component segment of the integrated marine automation system market is segmented into product and services. Product is further segmented into hardware, software and data link and connectivity. Hardware is sub-segmented into displays, control units, data storage devices, sensors, alarms, and others. Software is sub-segmented into analytical software, and monitoring software.
- End-user segment of the integrated marine automation system market is segmented into OEM and aftermarket.
- Solution segment of the integrated marine automation system market is segmented into power management system, vessel management system, process control and safety system. Power management system is further segmented into engine monitoring and control system, power distribution management and diesel generator monitoring. Vessel management system is segmented into machinery management system, alarm monitoring system, ballast water management system, propulsion control system, remote monitoring system, dynamic positioning system, security management system, thrust control system and information management system. Process control segment is segmented into HVAC control and drilling driver control system. Safety system of the market is segmented into fire protection system and emergency shutdown system.
Integrated Marine Automation System Market Country Level Analysis
The integrated marine automation system market is segmented on the basis of autonomy, ship type, component end- users and solution.
The countries covered in the integrated marine automation system market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Europe dominates the integrated marine automation system market and will continue to flourish its trend of dominance due to the rising demand for autonomous ships and cruise ships and growth in shipbuilding industry in this region.
The country section of the integrated marine automation system market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Integrated Marine Automation System Market Share Analysis
The integrated marine automation system market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to integrated marine automation system market.
Some of the major players operating in the integrated marine automation system market are Consilium Safety Group, ABB, Siemens, Kongsberg Maritime, Thales Group, Marine Technologies, LLC, Honeywell International Inc., Rolls-Royce plc, Praxis Automation Technology B.V., Wärtsilä, Rockwell Automation, Inc., Hyundai Heavy Industries Co., Ltd., General Electric, TOKYO KEIKI., FINCANTIERI S.p.A., Northrop Grumman., Jason Marine Group, Emerson Electric Co, and API Marine Inc., among others.
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