Sarasota, FL -- (SBWIRE) -- 01/26/2019 -- Global Integrated Marine Automation System Market: Overview
Integrated marine automation system is designed to meet the challenging demands of shipyards and ship owners and is configurable from multiple channels. Modular design based on standard modules helps in the system to meet individual requirements, covering the whole range from low complexity alarm systems to highly integrated alarm and monitoring systems with advanced process control and power management.
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Global Integrated Marine Automation System Market: Growth Factors
Increasing seaborne trade, rising compliance with maritime safety norms, and growth in maritime tourism are the key factors driving the integrated marine automation system market growth over the coming years. Increasing seaborne world trade activities, increasing compliance with maritime safety norms, and growth in maritime tourism sector are the major drivers for the integrated marine automation system market growth. Digitalization making ships vulnerable to cyber threats, and the shortage of qualified professionals in the maritime industry, are few of the major restraints in the integrated marine automation system market growth.
Global Integrated Marine Automation System Market: Segmentation
The global integrated marine automation system market can be divided based on by ship type, end user, solution, and component. Based on the ship type, the market is segmented into commercial and defense types. On the basis of end user, integrated marine automation system market is divided into OEM and Aftermarket. Based on the solution, the market is sectored into power management system, safety system, vessel management system, and process control. On the basis of component, the market is sectored into product and service.
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Global Integrated Marine Automation System Market: Regional Analysis
Based on regions, the global integrated marine automation system market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The integrated marine automation system market is led by Europe with the highest projected growth rate over the forecast period. Although the shipbuilding industry is going through a rough patch presently, the demand for autonomous ship and cruise ships in Europe is expected to drive the integrated marine automation system market in this region.
Rise in the trading activities witnessed in coastal areas of China, India, Thailand, and Indonesia is anticipated to boost the growth trends of integrated marine automation system market in Asia Pacific within the next few years.
North America and Middle East and African markets have the huge growth potential and are likely to witness a notable growth over the years ahead.
Global Integrated Marine Automation System Market: Competitive Players
The key players of the global integrated marine automation system market include Northrop Grumman, ABB, Kongsberg Gruppen, Wartsila, Transas, and Praxis Automation Technology among others.
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Global Integrated Marine Automation System Market: Regional Segment Analysis
North America
The U.S.
Europe
The UK
France
Germany
The Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa