Integrated Marine Automation System Market
Integrated Marine Automation System Market include ABB, Honeywell International, Inc., Rolls-Royce PLC, Wartsila, Kongsberg, Siemens, and General Electric
— Exactitude Consultancy
LUTON, BEDFORDSHIRE, UNITED KINGDOM, November 13, 2023 /EINPresswire.com/ — According to a Comprehensive Research Report by Exactitude Consultancy, “Integrated Marine Automation System Market by Autonomy (Autonomous, Remotely-operated, Partial Automation), Ship Type (Commercial, Defense, Unmanned), End User (OEM, Aftermarket), Solution (Products, Services) and by Region, Global trends and forecast from 2022 to 2028”, The market for Integrated Marine Automation System to anticipate a rise from USD 4.40 billion in 2021 to USD 10.38 billion by 2028, at 10% CAGR over the appraisal period (from 2022 to 2028).
Because Integrated Marine Automation Systems increase a vessel’s overall safety and operational efficiency, the market for these systems is growing. The automation system is becoming more and more common in the marine vessel industry because it drastically lowers the need for space and training expenses. The market has benefited from an increase in maritime trade. The market is comprehensively evaluated in the Global Integrated Marine Automation System Market report. The study provides a thorough examination of the market’s major segments, trends, drivers, constraints, competitive environment, and other elements that are significantly influencing it.
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• Exactitude Consultancy Research methodology
Recent Developments
• Rolls-Royce has acquired the UK-based integrated marine automation solutions specialist Servowatch Systems from India’s Larsen & Toubro. The new subsidiary’s open automation systems will be fully integrated into MTU’s product range.
• Wartsila signed an agreement to convert a vessel from CBO’s fleet to operate with hybrid propulsion. The ‘CBO Flamengo’ will be the first vessel in Latin America to be fitted with a battery pack for hybrid propulsion, which will improve the vessel’s energy consumption and reduce its carbon footprint.
• Praxis Automation Technology received an order from the dredging company Jan De Nul Group to install a complete new Vessel management system as part of a midlife upgrade package for this vessel.
Integrated Marine Automation System Market Competitive Landscape:
The major vendors in the Integrated Marine Automation System industry are
• ABB
• Honeywell International, Inc.
• Rolls-Royce PLC
• Wartsila
• Kongsberg
• Siemens
• General Electric
• Marine Technologies LLC
• Mitsui E&S Holdings Co., Ltd
• DNV GL, HHI Group.
Some Points On How the Report Benefits Stakeholders:
• The Integrated Marine Automation System Market reports include historical (2018–2020) and forecast (2022–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
• The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
• Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
• The Integrated Marine Automation System Industry report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
• The report contains company profiles of the top companies operating in the Integrated Marine Automation System market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
• Integrated Marine Automation System Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
Browse Full Premium Report | Integrated Marine Automation System Market Analysis with Strategic Developments
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Global Integrated Marine Automation System Market Overview
Software plays a major role in ships. It guarantees the efficient operation of ships, timely health monitoring, and efficient vessel traffic management. Therefore, it is anticipated that the rise in AI-based software development will support the expansion of Integrated Marine Automation Systems. In addition, the growing awareness among ship manufacturers to adhere to maritime safety regulations and the expansion of global seaborne trade are significant factors propelling the growth of the Integrated Marine Automation System Market.
Furthermore, in the near future, the Integrated Marine Automation System Market is anticipated to witness substantial growth prospects due to the establishment of new port cities in emerging economies. Because automated ships travel via satellite routes, there is an increased risk of cyber-attacks due to their widespread use. It is anticipated that the development of smart ships will increase the operational safety and efficiency of the vessels through the use of big data analytics.
It is anticipated that this automation will leave the ships open to hacker attacks. The rise in global threats and potential attacks could hinder the growth of the global market. However, the high cost of training and a shortage of qualified workers to manage and run marine automation systems are impeding the market’s expansion. Furthermore, it is anticipated that rising urbanization and population growth in developing nations like China and India will boost the need for maritime trade in these regions, opening up massive growth prospects.
Asia Pacific is expected to account for the largest share in 2022
The markets for integrated marine automation systems in North America, Europe, Asia Pacific, and the Middle East and Africa have all been researched. According to estimates, Asia Pacific will hold the biggest market share worldwide in 2020. Over the years, Asia Pacific has experienced rapid economic development, which has increased maritime trade. Due to the increase in maritime trade, there is a growing need for ships to carry manufactured goods across international borders. As a result, the need for integrated marine automation systems has grown in this area due to the growing number of ships.
Key Market Segments:
Global Integrated Marine Automation System Market by Autonomy, 2019-2028, (In USD Million)
• Autonomous
• Remote Operations
• Partial Automation
Global Integrated Marine Automation System Market by Ship Type, 2019-2028, (In USD Million)
• Commercial
• Defense
• Unmanned
Global Integrated Marine Automation System Market by End Use, 2019-2028, (In USD Million)
• Oem
• Aftermarket
Global Integrated Marine Automation System Market by Solution, 2019-2028, (In USD Million)
• Product
• Services
Global Integrated Marine Automation System Market by Region, 2019-2028, (In USD Million)
• North America
• Europe
• Asia Pacific
• South America
• Middle East And Africa
Frequently Asked Questions
• What was the impact of covid-19 on Integrated Marine Automation System Market?
• What was the market value in 2022?
• Which region is a high share of the Integrated Marine Automation System Market?
• What are the opportunities in Integrated Marine Automation System Market?
• What is the forecast period of the Integrated Marine Automation System Market?
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