What Is The Current and Historic Market Size Analysis Of Integrated Marine Automation System Market?
The integrated marine automation system market has seen considerable growth due to a variety of factors.
• In the last few years, there has been a significant expansion in the size of the integrated marine automation system market. It is projected to increase from $5.02 billion in 2024 to $5.39 billion in 2025 with a compound annual growth rate (CAGR) of 7.4%.
The historic acceleration in growth can be credited to factors such as increased support from the government, a growing tourism industry, higher demand for cruise ships and an increase in naval ships.
What Are The Predictions for The Integrated Marine Automation System Market Size In The Coming Years?
The integrated marine automation system market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations for the integrated marine automation system market indicate a strong surge in its size over the next few years. The projected growth trajectory suggests that it would reach a market value of $7.51 billion by 2029, growing at a compound annual growth rate (CAGR) of 8.7%.
The substantial growth during the forecast period could be attributed to factors such as augmented government backing, burgeoning tourism sector, escalating demand for cruise ships, and an increase in naval ships. The forecast period is also expected to witness significant trends such as technological breakthroughs facilitating the creation of fresh products, innovations within automated software testing, the adoption of scriptless test automation to curtail execution time, test automation strategies to minimize defects in software applications, and the utilization of artificial intelligence for testing to enhance user experience.
Which Drivers Are Accelerating Growth In The Integrated Marine Automation System Market?
The expansion of tourism is anticipated to fuel the integrated marine automation system market's progress. Cruise ships, often used in the tourism industry to carry passengers to diverse destinations, are seeing an uptick in demand as tourism flourishes. These vessels are generally outfitted with state-of-the-art automation systems to boost passenger satisfaction, maximize fuel efficiency, and maintain safety. For example, the Brazilian government reported in February 2024 that the tourism sector in Brazil generated an unprecedented $6.9 billion in earnings from foreign visitors in 2023, marking a 41% rise from $4.9 billion in 2022. Consequently, booming tourism is propelling the growth of the integrated marine automation system market.
What Are The Core Segments Of The Globa Integrated Marine Automation System Market?
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
Subsegments:
1) By Commercial: Cargo Ships, Tankers, Passenger Ships, Fishing Vessels
2) By Defense: Naval Ships, Submarines, Coast Guard Vessels
3) By Unmanned: Unmanned Surface Vessels (USVs), Unmanned Underwater Vehicles (UUVs), Autonomous Cargo Vessels
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Which Emerging Trends Are Reshaping The Integrated Marine Automation System Market Size?
Leading organizations in the integrated marine automation system market are turning their efforts towards product innovation and new solution development to bolster their market stance. For instance, Kongsberg Maritime, a Norway-based technology innovator paving the way for a more sustainable marine future, introduced the K-Chief marine automation system in June 2023. This comprehensive marine automation system, merging innovation, safety and efficiency, can be customized from 16 to 20,000 channels, thereby addressing the specific requirements of shipyards and ship owners. Its modular construction, grounded on standard modules, allows the system to be applicable to a vast array of applications – from basic alarm systems to complex, integrated alarm, monitoring systems, with superior process control and power management. This results in enhanced overall performance.
Who Are the Key Players in the Integrated Marine Automation System Market?
Major companies operating in the integrated marine automation system market include:
• Kongsberg Gruppen ASA
• Siemens Energy
• Emerson Electric Co
• ABB Ltd.
• Wartsila Corporation
• Rockwell Automation Inc.
• Ingeteam
• Honeywell International Inc.
• Rolls-Royce Holdings Plc
• Consilium AB
• Jiangnan Shipyards Group
• Changyuan Group Ltd.
• Zhonggu Logistics
• Pacific International Lines (PIL)
• Yang Ming Marine Transport
• Omron Corporation
• Hitachi. Ltd.
• IHI Corporation
• Korea Line Corporation
• Hyundai Heavy Industries
• CMI Jinling Shipyard
• Aselsan
• Buffalo Automation
• Northrop Grumman
• Naval Group
• Bourbon Corporation
• Elma B.V
• RH Marine
• Valcom
• Transas Navigator
• Concern Morinformsystem-Agat JSC
• Boening Ship Automation
• Jason Marine Group
• Elcome
• Control Solutions South Africa
What are the Regional Insights into the Integrated Marine Automation System Market?
Europe was the largest region in the integrated marine automation system market in 2024. The regions covered in the integrated marine automation system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
