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The integrated marine automation system market is estimated to be USD 4.9 billion in 2020 and is projected to reach USD 7.8 billion by 2025, at a CAGR of 10.0% from 2020 to 2025

ReportLinker
·5-min read

The demand for new ships and the retrofitting of existing ships with advanced technologies is expected to grow with the increase in trade activities. New defense and commercial vessels are equipped with advanced systems for improved safety and efficiency.

New York, March 10, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Integrated Marine Automation System Market by Autonomy, Ship Type, End User, Solution, System and Region-Global Forecast to 2025" - https://www.reportlinker.com/p05532151/?utm_source=GNW
The implementation of advanced systems acts as an important driver for the integrated marine automation system market. Integrated marine automation system is one of the variants of automated vessels. These ships involve integrating various systems and subsystems, enabling effective decision-making based on sensor fusion technology and Artificial Intelligence (AI) for processing the data, hence reducing or eliminating human intervention.

Based on autonomy, remotely-operated segment projected to lead integrated marine automation system market during the forecast period
Based on autonomy, the integrated marine automation system market is segmented into fully autonomous, remotely-operated and partial automation. The growth of the remotely-operated segment of the integrated marine automation system market can be attributed to the increased investments in developing unmanned and remotely-controlled vessel operations.

Based on ship type, commercial segment projected to dominate integrated marine automation system market during the forecast period
Based on ship type, the integrated marine automation system market is segmented into commercial and defense. The commercial segment is expected to dominate the market, owing to the rising seaborne trade and tourism across the globe.

Based on end user, the OEM segment accounts for the largest market size during the forecast period
Based on end user, the integrated marine automation system market is segmented into OEM and aftermarket.The OEM segment is estimated to account for a largest share in 2020 as compared to the aftermarket segment.

The growth of the OEM segment can be attributed to the increased investments in naval defense by various countries and rise in seaborne trade activities across the globe.

Asia Pacific is expected to account for the largest share in 2020
The integrated marine automation system market has been studied for North America, Europe, Asia Pacific, Middle East & Africa and Latin America.Asia Pacific is estimated to account for the largest share of the global market in 2020.

Shipbuilding companies from Japan, South Korea, and China, are also among the largest players in each of the four major segments, namely, tankers, bulk carriers, container ships, and offshore vessels.Asia Pacific has witnessed rapid economic development over the years, increasing maritime trade.

This rise in sea trade has subsequently led to an increasing demand for ships to transport manufactured goods worldwide. Thus, the rising number of ships has increased the demand for integrated marine automation system in the Asia Pacific region.

Break-up of profile of primary participants in the Integrated marine automation system Market:
• By Company Type: Tier 1 – 20%, Tier 2 – 55%, and Tier 3 – 25%
• By Designation: Others – 25%, C Level – 50%, and Director Level – 25%
• By Region: North America – 60%, Europe – 20%, Asia Pacific – 10%, North America – 5%, Middle East – 5%

Key Players in the integrated marine automation system market ABB (Switzerland), Honeywell International, Inc. (US), Rolls-Royce PLC (UK), Wartsila (Finland), and Kongsberg (Norway) are industry majors and have largely benefitted from their well-recognized brands, a wide range of products, and strong distribution capabilities in the integrated marine automation system market.

Research Coverage:
The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the integrated marine automation system market.A detailed analysis of the key industry players has been done to provide insights into their business overviews; solutions and services; key strategies; new product launches; mergers; and partnerships, agreements, and collaborations; and recent developments associated with the integrated marine automation system market.

Competitive analysis of upcoming startups in integrated marine automation system market ecosystem is covered in this report.

Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall integrated marine automation system market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.

The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on integrated marine automation system market offered by top players in the market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the integrated marine automation system market
• Market Development: Comprehensive information about lucrative markets – the report analyzes the integrated marine automation system market across varied regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the integrated marine automation system market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in integrated marine automation system market

Read the full report: https://www.reportlinker.com/p05532151/?utm_source=GNW

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