Industry Background:
The integrated marine automation system is intended to meet the challenging demands of shipyards and ship owners. Modular design marine automation system is based on standard modules which permits to configure the system to individual requirements, covering the whole range from low complication alarm systems to highly integrated alarm and monitoring systems along with advanced process control and power management. Different selections of these system are used to configure each individual system to fit exactly to the requirements.
According to AMA Research, the market for Integrated Marine Automation System is expected to register a CAGR of 7.4% during the forecast period to 2030. This growth is primarily driven by Rising Global Seaborne Trade
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Marine sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Northrop Grumman (United States), ABB (Switzerland), Siemens (Germany), Kongsberg Gruppen ASA (Norway), Thales Group (France), Consilium AB (Sweden), Wartsila Corporation (Finland), Tokyo Keiki Inc. (Japan), Praxis Automation Technology (Netherlands) and Honeywell International Inc. (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In January 2022, ABB announced the launch of its ABB Ability™ Marine Fleet Portal, a solution that provides real-time fleet insights for vessel operators, enabling them to optimize performance, efficiency, and sustainability.
In March 2022, Honeywell International Inc. introduced its new Integrated Navigation System, offering advanced features such as real-time data integration, intelligent route planning, and collision avoidance capabilities for enhanced vessel navigation.The key manufacturers are targeting the innovations of the products with better quality, and better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking about mergers and acquisitions to maintain their presence in the market
Influencing Trend:
Technological Advancements in the Marine Sector and Developing Maritime Tourism Industry
Market Growth Drivers:
Rising Global Seaborne Trade and Increasing Awareness about Maritime Safety Norms
Challenges:
Lack of Skilled Peoples to Handle and Operate Systems
Restraints:
Rising Concerns Related to Cyber Threats Due to Digitization of Ships
Opportunities:
Development of New Port Cities in Developing Countries
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Integrated Marine Automation System Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Integrated Marine Automation System Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Integrated Marine Automation System players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Integrated Marine Automation System Study Sheds Light on
The Integrated Marine Automation System Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Integrated Marine Automation System industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Integrated Marine Automation System industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.