The global integrated marine automation systems market was valued at USD 3.4 billion in 2019 and is estimated to reach USD 4.7 billion by 2026, expanding at a CAGR of around 4 % during the forecast period, 2020 – 2026.New opportunities are expected to be created by the growing development of new port cities. Rising seaborne trade, growing awareness about maritime safety rules, and growing maritime tourism industry are some of the factors which are driving the global integrated marine automation systems market. A monitoring system and an automation system distribution is known as integrated marine automation system. It is a system that provides necessary information to shipyards and ship owners, configures from 16 to 2000 channels. Integrated marine automation system helps to manage risks, improve overall performance of vehicles, and identify threats and neutralize them. Reduction of training expense, vessel safety, vessel control, and operational efficiency are various applications including in integrated marine automation system.
Market Trends, Drivers, Restraints, and Opportunities:
- Major factor for the growth of the market is the rising international seaborne trade around the globe.
- Commercial ships are using integrated marine automation system to save operational efficiency is another factor driving the market growth.
- Growing awareness about maritime safety and rising maritime tourism is expected to fuel the growth of the market.
- New opportunities are created by the growth of maritime operations at both coastal and sea regions, fuelling the growth of the market during the forecast period.
- Increasing number of city ports and advancements in vessel construction are some other factor driving the market growth.
- Lack of skilled workforce in maritime industry act as a restrain to this market.
- Rising concerns of cyber threats may hamper the growth of the market.
Scope of the Report
The report on the global integrated marine automation systems market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report. AttributesDetailsBase Year2019Historic Data2015–2018Forecast Period2020–2026Regional ScopeAsia Pacific, Europe, North America, the Middle East & Africa, and Latin AmericaReport CoverageCompany Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Global Integrated Marine Automation Systems Market Segment Insights:
Based on types, the global integrated marine automation systems market is segmented into products and services. The products segment consisted of the majority of the market share and is expected to grow at high CAGR. The installation of connectivity, hardware, software, and datalinks are contributing to the growth of this segment. In terms of types, the market is divided into defence ships and commercial ships. Commercial ships segment comprises of the majority of the market share. The reason for the dominance is the increasing maritime trade, tourism, and globalization. On the basis of solutions, the market is segregated into process control, vessel management control, safety systems, and power distribution management. The vessel management system is anticipated to witness high growth during the forecast period. Systems such as alarm, dynamic positioning systems, machinery management, and others are witnessing huge demand which is contributing to the growth of the market. Based on End-users, the market is divided into aftermarket and original equipment manufacturer. The original equipment manufacturer segment is expected to dominate the market during the forecast period. New shipbuilding orders due to growing trade is the important factor influencing the market growth. On the basis of regions, the market is segmented into Asia Pacific, Europe, North America, Middle East & Africa, and Latin America. Europe is the most dominant segment and is expected to be dominant during the forecast period. The main reason for the dominance of Europe is due to the increasing number of cruise ships and autonomous ships which are growing in operation across Europe.
Major companies in the global integrated marine automation systems market include Siemens AG, Thales Group, Consilium, Wartsila Corporation, Praxis Automation Technology, Marine Technologies, Northrop Grumman, Tokyo Keiki Inc., MTU Friedrichshafen, Kongsberg Gruppen ASA, API Marine Inc., and Honeywell International Inc. Companies in the global integrated marine automation systems market are engaging in strategies such as R&D, agreements, and collaborations to gain market share. The competition in this market is highly fragmented and the companies present worldwide are making continuous innovations to gain market share. Kraken Robotics received an order of USD 3 million, for their Katfish 180 system by Thayer Mahan. Katfish 180, provides extensive survey of seafloor area with variety of other features. Katfish 180 with synthetic aperture sonar is a stabilized towfish system. To upgrade power management, improve vehicle positioning system, and enhance energy efficiency Tidewater Marine Offshore Supply Vessel has made contract with Konsberg in September 2019.
The global integrated marine automation systems market has been segmented on the basis of
- Defence Ships
- Commercial Ships
- Process Control
- Vessel Management Control
- Safety Systems
- Power Distribution Management
- Original Equipment Manufacturer
- Asia Pacific
- North America
- Middle East & Africa
- Latin America