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  • Integrated Marine Automation System Market Growth Analysis | 2023-2028

    Integrated Marine Automation System Market Growth Analysis | 2023-2028

    Integrated Marine Automation System Market Growth Analysis | 2023-2028
    Report code - SRAD296 Delivery - 2 Weeks
    Integrated Marine Automation System Market Size, Share, Trends, Dynamics, Forecast, & See more...

    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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    What is an integrated marine automation system?

    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.

    Integrated Marine Automation System Market Highlights

    Market Size in 2022

    USD 6.05 billion

    Market Size in 2028

    USD 10.48 billion

    Market Growth (2023-2028)

    9.55% CAGR

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    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.

    Market Dynamics

    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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    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, the market is dominated by Europe with the highest-estimated growth rate for the coming five years. 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.

    Integrated-Marine-Automation-System-Market-Regional-Insights

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    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 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)

    Integrated-Marine-Automation-System-Market-Segmentation

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    Research Methodology

    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 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the 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 the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Integrated Marine Automation System Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    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.

    Frequently Asked Questions (FAQs)

    The integrated marine automation system market was estimated at USD 6.05 billion in 2022.

    The integrated marine automation system market is likely to reach USD 10.48 billion in 2028.

    An integrated marine automation system is mainly referred to as a monitoring control system. The method 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.

    Integrated marine automation system market is likely to witness a timid CAGR of 9.55% during the forecast period.

    In terms of regions, the market is dominated by Europe with the highest-estimated growth rate for the coming five years.

    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, and Thales Group.

    The commercial ships segment is expected to grow at a higher CAGR in the market in the coming years.

    The product segment is expected to register a higher growth in the market during the next five years.

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