(MENAFN- Market Press Release)
The integrated marine automation system market is projected to grow from USD 4.9 billion in 2020 to USD 7.8 billion by 2025, at a CAGR of 10.0% from 2020 to 2025. Integrated marine automation systems are architectural management systems, which link various components and systems in ships to provide required information pertaining to the management, operations, and control functions. These systems enhance the operational performance of marine vessels and ensure their safety. They enable a seamless integration of various sensors on a common platform that can be operated from a single user environment. Sensors installed in these systems are interfaced with processor units known as data acquisition units (DAUs), which are deployed at different locations on marine vessels.
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Integrated marine automation systems acquire information from sensors to regulate and monitor the operations of marine vessels. These systems also monitor power systems, propulsion controls, engines, and machinery controls of marine vessels to ensure their safe and smooth operations. Some of the major factors driving this market include the increasing global sea trade, improving marine navigational safety resulting in lesser accidents, and growing maritime tourism. The demand for new ships and the retrofitting of existing ships with advanced technologies are expected to grow with increased trade activities. New defense and commercial vessels are equipped with advanced systems for improved safety and efficiency.
Automation systems act as important risk management tools as they help in the detection of individual component failures in a ship to ensure safety. According to the report published by Sea Europe in 2018, the marine sector witnessed growth in the number of delivery of ships, boats, and submarines since 2011. However, in 2016, the shipbuilding industry reported a decline in orders for new ships due to the oversupply of tankers, container ships, and bulkers. Nonetheless, the growth in maritime tourism resulted in an upsurge in sales of passenger ships and cruises in the same year. Thus, the rise in the number of commercial vessels is one of the most significant factors driving the integrated marine automation system market.
Based on autonomy, the partial automation is estimated to dominate the integrated marine automation system market in 2020. Partial automation is attained when a ship has automated processes, such as the propulsion control system, thruster control system or alarm & management systems, and decision support. The increasing demand for onboard automation systems is expected to drive this segment during the forecast period.
Based on the ship type, the market has been segmented into commercial and defense. the market is estimated to be dominated by the commercial segment in 2020. The commercial segment is expected to grow due to the rising seaborne trade and tourism across the globe.
Based on the solution, the market has been segmented into products and services. The products segment accounts for the largest market size during the forecast period. The growth of the products segment can be attributed to the growing development of automation systems and software which have led to the increased onboard installation of various components in ships.
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