(MENAFN- America News Hour) Research Nester published a report titled
“Global Digital Shipyard Market: Global Demand Analysis & Opportunity Outlook 2035”
which delivers a detailed overview of the global digital shipyard market in terms of market segmentation by type capacity, technology, digitalization, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion of current and future market trends that are associated with the growth of the market.
The digital market is estimated to grow at a notable ~18% of CAGR over the forecast period, i.e., 2023 – 2035. The market is segmented by technology into Artificial intelligence and big data analysis, robotics process automation, and augmented and virtual reality out of which, the robotic process automation segment is expected to hold the largest market size by the end of 2031, as they are more flexible, profitable, and responsive.
In the United States alone the adoption of industrial robots increased at 10.28% CAGR, from 15,170 in 2008 to 40,373 in 2018.
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The growing adoption of robots, and digital and automation technology in various business functions like data entry, accounting, finance, procurement detail, and record management influence the market growth during the forecast period. Also, the increased use of robotic process automation (RPA) in current developing business process automation technology based on the idea of software robots and Artificial Intelligence (AI) is also projected to boost the market growth. Moreover, the automatic upgrades, low infrastructure cost, ease of deployment, and less maintenance cost of robotic process automation impact the growth opportunities.
The global digital shipyard market is segmented regionally into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region, out of which, the market in the North America region is anticipated to touch the largest revenue by the end of 2031 on account of growing penetration of automation technology and process management in the region. Besides, robotic process automation will reduce the risk of death and accidents in workplaces like warehouses. The presence of market giants and support from the government and enterprises adds to the growth of the market in this region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players' competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
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Growing Digital Technology to Create Lucrative Opportunities for Market Growth
Based on the report by the International Labor Organization (ILO), over 340 million workplace accidents occur annually leading to 2.3 million deaths.
Increased utilization rate of the industrial internet of things (IoT), enhanced implementation of robotic technology, and awareness of efficiency and safety are estimated to increase growth opportunities for the global digital shipyard market during the forecast period. As well, the rise in international seaborne trade, increased procurement of advanced vessels in the marine sector by governments across the world, and extreme threats to cybersecurity to improve marine tourism are expected to be the growth drivers of the market.
50,000 merchant ships are used to transport all kinds of cargo across the world.
However, High capital investment, high maintenance cost, and expensive software are expected to operate as a key restraint to the growth of global over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global digital shipyard market which includes company profiling of IFS, Pemamek Oy, Dassault Systemes SAS, Siemens AG, Accenture, AVEVA Group, Wartsila Corporation, Inmarsat, PROSTEP AG, and Damen Shipyards Group. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global digital shipyard market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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