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Integrated Marine Automation System Global Market Report 2022: Market is Expected to Reach $ 5.73 Billion in 2026 at a CAGR of 7.4% - Long-term Forecast to 2031

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Global Integrated Marine Automation System Market

Global Integrated Marine Automation System Market
Global Integrated Marine Automation System Market

Dublin, Jan. 17, 2023 (GLOBE NEWSWIRE) -- The "Integrated Marine Automation System Global Market Report 2022: Ukraine-Russia War Impact" report has been added to ResearchAndMarkets.com's offering.

The global integrated marine automation system market is expected to grow from $ 3.91 billion in 2021 to $ 4.30 billion in 2022 at a compound annual growth rate (CAGR) of 9.8%. The integrated marine automation system market is expected to reach $ 5.73 billion in 2026 at a CAGR of 7.4%.

The integrated marine automation system market includes revenues earned by entities by power management systems, vessel management systems, process control, and safety systems. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

An integrated marine automation system entails a variety of control systems, from small stand-alone alarm systems to fully integrated alarm and control systems. These systems are composed of various hardware and software components that capture, process, store, transmit, and present information about the vessel's system. The system's essential quality is its ability to continuously provide trusted information to control personnel, allowing for quick and appropriate responses. The integrated marine automation system is used to monitor and control operations on a ship.

Europe was the largest region in the integrated marine automation system market in 2021. The regions covered in the integrated marine automation system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($ ) unless otherwise specified).

The revenues for a specified geography are consumption values - that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

The main types of autonomy in integrated marine automation are partial automation, remotely-operated, and autonomous. Partial automation refers to propulsion systems, power management systems, alarm and management systems, and others that are being demanded by ship operators that take over longitudinal and lateral control, but the driver must permanently monitor the system and be prepared to take over control at any time.

The different systems include power management systems, vessel management systems, process control systems, and safety systems. The various ship types include commercial, defense, and unmanned that are used by the end users, such as original equipment manufacturers (OEM), and aftermarket.

Increasing marine accidents are expected to propel the growth of the integrated marine automation system market going forward. Ocean economic activities consist of multiple activities, from transporting goods from one place to another, running cruise ships, or carrying passengers.

Due to critical ocean weather conditions, there is a possibility that a mishap might occur with the ships, resulting in an accident or casualties. The most common causes of marine disasters are collisions, grounding, stranding, heavy weather, explosions, or fire. These disasters can be avoided with the assistance of an integrated marine automation system, which provides critical information on the system for the safe and efficient operation of ship machinery and auxiliary systems. Therefore, the rising number of marine accidents is driving the demand for an integrated marine automation system market.

Technological advancements are the key trend gaining popularity in the integrated marine automation system market. The market is witnes

sing an increase in control system software developed on AI-based technologies. The control systems provide seamless control integration through mathematical modeling and design of various marine operations. For instance, in October 2021, ABB, a Finland-based automation company, launched a C-CAM automation solution for merchant marine vessels.

This C-CAM is a user-friendly and handy solution that automates and integrates control, alarm, and monitoring of critical systems on board, offering access to system data through mobile devices. The automation solution is based on artificial intelligence and is applicable to vessel systems, power management, cargo control, and tank gauging. It improves efficiency and safety by allowing faster troubleshooting and maintenance and improving situational awareness.

Key Metrics

Report Attribute

Details

No. of Pages

175

Forecast Period

2022 - 2026

Estimated Market Value (USD) in 2022

$4.3 billion

Forecasted Market Value (USD) by 2026

$5.73 billion

Compound Annual Growth Rate

7.4%

Regions Covered

Global

Major players in the integrated marine automation system market are

  • ABB Ltd.

  • Consilium AB

  • Honeywell International Inc.

  • Kongsberg Gruppen ASA

  • Marine Technologies LLC

  • Northrop Grumman Corporation

  • Siemens AG

  • Thales Group

  • Tokyo Keiki Inc.

  • Wartsila Corporation

  • Rolls-Royce Power Systems AG

  • MTU Friedrichshafen

  • Transas Marine Ltd.

  • Praxis Automation Technology

  • Ulstein Group

  • API Marine Inc.

  • Rockwell Automation Inc.

  • Jason Marine Group.

Key Topics Covered:

1. Executive Summary

2. Integrated Marine Automation System Market Characteristics

3. Integrated Marine Automation System Market Trends And Strategies

4. Integrated Marine Automation System Market - Macro Economic Scenario
4.1. COVID-19 Impact On Integrated Marine Automation System Market
4.2. Ukraine-Russia War Impact On Integrated Marine Automation System Market
4.3. Impact Of High Inflation On Integrated Marine Automation System Market

5. Integrated Marine Automation System Market Size And Growth
5.1. Global Integrated Marine Automation System Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Integrated Marine Automation System Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Integrated Marine Automation System Market Segmentation
6.1. Global Integrated Marine Automation System Market, Segmentation By Ship Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

  • Commercial

  • Defense

  • Unmanned

6.2. Global Integrated Marine Automation System Market, Segmentation By System, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

  • Power Management System

  • Vessel Management System

  • Process Control System

  • Safety System

6.3. Global Integrated Marine Automation System Market, Segmentation By Autonomy, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

  • Partial Automation

  • Remotely-Operated

  • Autonomous

6.4. Global Integrated Marine Automation System Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

  • Original Equipment Manufacturer (OEM)

  • Aftermarket

7. Integrated Marine Automation System Market Regional And Country Analysis
7.1. Global Integrated Marine Automation System Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Integrated Marine Automation System Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/34e62c

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