The Integrated Marine Automation System by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Integrated Marine Automation System, The integrated marine automation system market size has grown strongly in recent years. It will grow from $4.71 billion in 2023 to $5.09 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to rising government support, growing tourism, increasing demand for cruise ships and rising naval ships.
The integrated marine automation system market size is expected to see strong growth in the next few years. It will grow to $6.96 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to rising government support, growing tourism, increasing demand for cruise ships and rising naval ships. Major trends in the forecast period include technological advances to aid in development of new products, product innovations in automated software testing, scriptless test automation to reduce the time of execution, test automation to lower the risk of defects in software applications and artificial intelligence for testing to improve user experience.
Growing tourism is expected to contribute to the growth of the integrated marine automation system market going forward. The tourism industry often relies on cruise ships to transport passengers to various destinations. With growing tourism, there is an increased demand for cruise vessels. These ships are typically equipped with advanced automation systems to enhance the passenger experience, optimize fuel efficiency and ensure safety. For example, according to the Government of Brazil, the tourism industry in Brazil grew by 85.7% in 2022, compared to the same period in 2021. Cruise tourism is one of the most dynamic and fastest-growing components of the leisure industry worldwide. Moreover, in May 2022, according to the Press Information Bureau, an India-based apex organization under the central government, India aims to increase cruise passenger traffic from 0.4 million at present to 4 million. Additionally, according to ForwardKeys, a Spain-based Database management company, 800,000 cruise ship passengers were estimated to visit Valencia in 2022, with 219 port stops scheduled for the year. Therefore, growing marine tourism is expected to positively impact the growth of the integrated marine automation system market during the forecast period.
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The integrated marine automation system market covered in this report is segmented –
1) By Ship Type: Commercial, Defense, Unmanned
2) By System: Power Management System, Vessel Management System, Process Control System, Safety System
3) By Autonomy: Partial Automation, Remotely-Operated, Autonomous
4) By End User: Original Equipment Manufacturer, Aftermarket
Top Major Players
Kongsberg Gruppen ASA
Siemens Energy
Emerson Electric Co
ABB Ltd.
Wartsila Corporation
Technological advancements are the key trend gaining popularity in the integrated marine automation system market. The market is witnessing an increase in control system software developed on AI-based technologies. The control systems provide seamless control integration through mathematical modeling and design of various marine operations. For instance, in October 2021, ABB, a Finland-based automation company, launched a C-CAM automation solution for merchant marine vessels. This C-CAM is a user-friendly and handy solution that automates and integrates control, alarm, and monitoring of critical systems on board, offering access to system data through mobile devices. The automation solution is based on artificial intelligence and applies to vessel systems, power management, cargo control, and tank gauging. It improves efficiency and safety by allowing faster troubleshooting and maintenance and improving situational awareness.
The integrated marine automation system market report table of contents includes:
1. Executive Summary
2. Integrated Marine Automation System Market Characteristics
3. Integrated Marine Automation System Market Trends And Strategies
4. Integrated Marine Automation System Market – Macro Economic Scenario
5. Global Integrated Marine Automation System Market Size and Growth
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32. Global Integrated Marine Automation System Market Competitive Benchmarking
33. Global Integrated Marine Automation System Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Integrated Marine Automation System Market
35. Integrated Marine Automation System Market Future Outlook and Potential Analysis
36. Appendix
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