According to Stratistics MRC, the Global Integrated Marine Automation System Market is accounted for $3.38 billion in 2017 and is expected to reach $4.68 billion by 2026 growing at a CAGR of 3.7% during the forecast period.
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Some of the key factors driving the market growth include high growth in emerging economies, growing compliance focus towards maritime safety norms, rising seaborne trade, growing global seaborne trade, and growing maritime tourism. However, factors such as digitalization to render ships vulnerable to cyber threats and a shortage of qualified specialists in the marine industry are hampering the market growth.
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The Integrated Marine Automation System is a disseminated monitoring and control system. Where it’s lithe, the design lets it be used for the extensive range of jobs within the offshore industry and safety and vessel control systems. It is based on dispersed handling where the numerous processes are organized by input/output (I/O) modules situated close to the handling units. Incorporating all jobs for monitoring and control provides both technically and economically advantaged. These Functions are integrated to decrease the requirement for hardware and software purposes and to decrease interface necessities.
On the basis of ship type, the commercial ships segment is projected to grow at the steady rate during the forecast period due to rising seaborne trade in demand for automation systems in commercial ships or vessels. By Geography, Europe is projected to grow at a significant rate during the forecast period. The growth for this region is due to growing number of cruise ships and autonomous ship constantly enlarging their operation across the diverse part of Europe. Further, cumulative importance on R&D activities by marine automation system product constructors is also acting as a major reason in the growth for the market in Europe.
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Some of the key players in the market are Thales Group, Siemens, ABB, Kongsberg Gruppen ASA, Honeywell International Inc., Northrop Grumman, Wartsila Corporation, Tokyo Keiki Inc., Praxis Automation Technology, Transas, Consilium Ab, Marine Technologies, Llc, Api Marine Inc., and MTU Friedrichshafen.
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Components Covered:
• Product
• Services
Ship Types Covered:
• Defence
• Commercial Ships
Solutions Covered:
• Process Control
• Vessel Management System
• Safety System
• Power Distribution Management
End Users Covered:
• Aftermarket
• Original Equipment Manufacturer (OEM)
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
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Source: MarketersMedia
Release ID: 465972
