Global Integrated Marine Automation System Market is valued at USD 4.4 Billion in 2021 and expected to reach USD 7.02 Billion by 2028 with the CAGR of 6.90% over the forecast period.
Integrated marine automation system is a system for distributed control and monitoring of wide range of tasks in offshore industry. The system covers all the important functions such as auxiliary machinery control, cargo monitoring and control, power management, and ballast/bunker monitoring and control. Hardware components and application softwares are used in the construction of system, plays a key role in the overall performance of the integrated marine automation system. Various benefits provided by these systems include enhanced vessel efficiency and safety, reduced maintenance cost, increased vessel uptime.
Global market for integrated marine automation system is segmented on the basis of ship type, solution, end-user, component and region & country level. By ship type the market is segmented into defense and commercial. By solution, the market is divided into vessel management system, safety system, power management system and process control. By component, the market divided into service and product. By end-user, the market is divided into aftermarket and OEM.
The regions covered in this marine automation system market report include North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of integrated marine automation system is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Some major key players for global integrated marine automation system market are-
The market is anticipated to register stable growth during the forecast period. The increasing focus on technology advancement and its utilization in monitoring the various tasks of offshore industry is estimated to offer significant market growth opportunities. Over the last few years, adoption of autonomous systems in marine sector has been increased owing to its advantages in delivering goods without any interference. In addition, these systems are more efficient and durable. Major industry players are focused on strategic partnerships and collaborations in order to develop innovative and application specific solutions. However, factors such as cyber threats and lack of experienced and qualified professionals may hamper the market growth of integrated marine automation systems.
Europe accounted for the major revenue share in 2018, followed by Asia Pacific. Italy, Spain, and France are the major countries contributing for the overall growth of the market in this region. Demand for autonomous ships in Europe is expanding due to increasing number of cruise ships. In addition, the expected expansion of the operation of automated ships across the different countries of Europe is estimated to boost the market demand.
In Asia Pacific, marine transport is increasingly playing an important role in international trade and transportation with the adoption of bigger and bigger container vessels. Transforming economic environment and strong economic development in this region are anticipated to drive the future market demand.
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 4.4 Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||6.90%|
|Market Size Expected in 2028:||USD 7.02 Billion|
|Tables, Charts & Figures:||175|
|Key Players/Companies||API Marine Inc., Consilium AB, Emerson Electric Co., FINCANTIERI S.p.A., General Electric, Honeywell International Inc., Hyundai Heavy Industries Co. Ltd., Jason Marine Group, Kongsberg Gruppen ASA, Marine Technologies, MTU Friedrichshafen, Northrop Grumman, Praxis Automation Technology, Rockwell Automation Inc., Rolls-Royce plc, Siemens AG, Thales Group, Tokyo Keiki Inc., Wartsila Corporation, Others.|
|Segments Covered||By Ship Type, By Solution, By End-User, By Component|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
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