Integrated Marine Automation System Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Integrated Marine Automation System Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Integrated Marine Automation System Market

The integrated marine automation system market size was valued at USD 3.58 billion in 2021, and the market is now projected to grow from USD 3.84 billion in 2022 to USD 6.33 billion by 2029, exhibiting a CAGR of 7.39% during the forecast period of 2022-2029.

The spread of coronavirus has adversely affected the complete marine sector. Huge revenue losses caused in the first two quarters due to lockdown and travel limitations. The declined demand for marine trades and travel affected the closure of new ship orders, destructively impacting the market. Thus, due to the drop in novel ship demand and decline in manufacturing operations, the market of marine automation systems observed slow progress.

The shipbuilding and shipping firms are financing in the automation of vessels to save cost and upsurge effectiveness of the ship processes. Furthermore, growing research and development of automated solutions by market performers is projected to fuel the integrated marine automation system market growth. Rising maritime trade, developing port infrastructure, and digitalization of ships &shipyards have augmented the demand for integrated marine automation systems.

The ECDIS is a keen digital direction finding computer. The ECDIS incorporates electronic navigation software with modern navigational tools such as RADAR, GPS, ARPA, and others. There is a growth in demand for the incorporation of ECDI systems in ships as these charts integrate more data than conventional navigation tools. The system also programs essential purposes such as automatic route organization and monitoring, which decreases team responsibilities.

Comprehensive Analysis of Integrated Marine Automation System Market

The market can be segmented in various ways, depending on the focus of analysis such as by product type, by solution and by end-user. Based on product type, the integrated marine automation system market is segmented into hardware and software. Based on the solution, the market is classified as vessel management, power management, safety, and others. Based on end-user, the market is segmented into commercial and defense.

Asia Pacific region is dominating the integrated marine automation system market share due to key shipbuilding firms such as China Shipbuilding Industry Corporation, Daewoo Shipbuilding & Marine Engineering, and others.

The key players are enthusiastically contributing in planned events that are targeted at maintaining durable market position and growing market share by merger, partnerships and others. These players include ABB (Switzerland), Honeywell International, Inc. (U.S.), Rolls-Royce PLC (U.K.), Wartsila (Finland), Kongsberg (Norway), Siemens (Germany), Hyundai Heavy Industries (South Korea), General Electric (U.S.), Ingeteam (Spain), Emerson Electric Co. (U.S.) these market players spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market.

In November 2021, MJR Power and Automation was presented a contract to install its marine automation platform MAP-OE on SMS Roman tugboat.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2018-2029

Base Year 2021

Estimated Year 2022

Forecast Period 2022-2029

Historical Period 2018-2020

Unit Value (USD Billion)

Segmentation Product Type, Solution, End-User and Geography

By Product Type

Hardware

Software

By Solution

Vessel Management System

Power Management System

Safety System

Others

By End-User

Commercial

Defense

By Geography

North America (By Product Type, Solution, End-User, and Country)

U.S. (By Product Type)

Canada (By Product Type)

Europe (By Product Type, Solution, End-User, and Country) rope (By Product Type, Solution, End-User, and Country)

U.K. (By Product Type)

Germany (By Product Type) France (By Product Type)

Russia (By Product Type)

Italy (By Product Type)

Turkey (By Product Type)

Rest of Europe

Asia Pacific (By Product Type, Solution, End-User, and Country)

China (By Product Type)

India (By Product Type)

Japan (By Product Type)

South Korea (By Product Type)

Rest of Asia Pacific (By Product Type)

Rest of the World (By Product Type, Solution, End-User, and Country)

The Middle East & Africa (By Product Type)

Latin America (By Product Type)

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