Integrated Marine Automation System Market Analysis | 2023-2028

Market Insights

The integrated marine automation system market was estimated at USD 6.05 billion in 2022 and is likely to grow at a CAGR of 9.55% during 2023-2028 to reach USD 10.48 billion in 2028.

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Market Dynamics

Introduction

An integrated marine automation system is mainly referred to as a monitoring control system. The system comprises a number of applications such as operational efficiency, vessel safety, and others. The integrated marine automation system is used on commercial ships as well as on defense ships.

Market Drivers

The major factors driving the growth of the integrated marine automation system market are:

• Growing seaborne trade.
• Mounting compliance with maritime safety protocols.
• Advancement in maritime tourism.

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Key Players

Some of the major players in the market are-

• ABB Group
• API Marine Inc.
• Consilium AB
• Honeywell International Inc.
• Kongsberg Gruppen ASA
• MTU Friedrichshafen
• Marine Technologies, LLC
• Praxis Automation Technology
• Siemens AG
• Thales Group.

Note: The above list does not necessarily include all the top players in the market.

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Segments' Analysis

By Ship Type

Based on the ship type, the market is segmented as commercial ships and defense. The commercial ships segment is expected to grow at a higher CAGR in the coming five years. Upsurge in seaborne trade coupled with the rising demand for lessening functional costs for ships by arming them with automation systems is anticipated to boost the growth of the market.

By Component Type

Based on the component type, the market is segmented into product and services. The product segment is estimated to register higher growth during the forecast period. Installation of various software, hardware, datalinks, and connectivity in marine automation systems is significantly contributing to the high growth of this segment.

By End-User Type

Based on the end-user type, the market is segmented as OEM and aftermarket. The OEM segment is expected to depict higher growth in the coming five years. Escalating seaborne trade across the globe is anticipated to pave the path for new shipbuilding orders, which in turn, will lead to an increase in the demand for OEM-integrated marine automation systems for new ships.

By Solution Type

Based on the solution type, the market is segmented as a power management system, vessel management system, process control, and safety system. The vessel management system segment is estimated to be the largest segment, during the forecast period, encompassing different subsystems, such as alarm monitoring system, dynamic positioning system, and machinery management, among others.

Regional Insights

In terms of regions, Europe is estimated to command the integrated marine automation system market during the forecast period. Despite the shipbuilding industry sailing through a rough ride currently, the claim for self-governing ships and cruise ships in Europe is anticipated to bolster the integrated marine automation system market in this region. North America and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects integrated marine automation system market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The integrated marine automation system market is segmented into the following categories.

By Ship Type

• Commercial Ships
• Defense

By Component Type

• Product
• Services

By End-User Type

• OEM
• Aftermarket

By Solution Type

• Power Management System
• Vessel Management System
• Process Control
• Safety System

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)?

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the ship types by end-user type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.