openPR Logo
Press release

Marine Electronics Market to Witness Growth Acceleration of US$ 7,745.3 Mn During 2018-2028

02-05-2019 10:41 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

Marine Electronics Market to Witness Growth Acceleration of US$

Marine electronics comprises electronic devices designed for the marine environment. Marine electronic devices are water-resistant so that salt water cannot affect or destroy them. Marine electronic devices include marine VHF radios, chart plotters, autopilots, fish finders/sonars, radars, gyrocompasses, GPS, satellite TVs, and various audio and video devices. The marine electronics market is highly dependent on the performance of the ship industry. The marine electronics market is divided into four segments on the basis of ship/boat categories. The ships/boats taken into consideration are merchant vessels (general cargo ships, bulk carriers, containerships, and oil tankers), fishing vessels (big vessels that are allowed into the deep sea and used for commercial fishing), yachts/recreational boats (all sailing boats and vessels used for recreational activities), and military naval (all military surface vessels and boats such as surface combatants, patrol combatants, and amphibious warfare ships, and those involved in military logistics and coastal defense).

The global marine electronics market is expected to grow from US$ 4,143.5 Mn in 2018 to US$ 7,745.3 Mn by 2028, expanding at a CAGR of 6.5% in terms of revenue during the forecast period (2018-2028). In this report, the global marine electronics market is tracked in terms of value, and is calibrated to obtain the market revenue estimates of marine electronic devices.

Get Sample Copy of Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-2392

Global Marine Electronics Market: Dynamics

The factors driving the global marine electronics market are mandatory government regulations, increasing demand from the defense sector, growing concern for safety and security, and increasing globalization and ocean trade activities.

However, insecure mode of data transmission, incompetency of software, and lack of investments and infrastructure are some of the major challenges that hamper the growth of the marine electronics market.

Global Marine Electronics Market: Segmentation & Forecast

To understand and assess the demand and opportunities in this market, the marine electronics market report is categorically split into three major sections, namely, marine electronics market analysis – by component type, by application type, and by region. On the basis of component type, the marine electronics market is segmented into hardware and software. The marine electronics hardware segment is expected to dominate the market throughout the forecast period, and enjoy a market share of 78.4% and 77.0% in 2018 and 2028, respectively. The marine electronics hardware segment is further segmented as GPS and radar systems, multifunction navigation, fish finders/ sonar modules, thermal and visible cameras, marine VHF communication devices, audio and video equipment, marine autopilots, analogue & digital instruments, and satellite TVs.

On the basis of application type, the marine electronics market is segmented into merchant vessels, fishing vessels, military naval, and yachts/recreational boats. The marine electronics merchant vessels segment is expected to dominate the market in the majority duration of the forecast period, owing to the high CAGR associated with it. The marine electronics fishing vessel segment is expected to grow from US$ 958.6 Mn in 2018 to US$ 1,900.5 in 2028.

Buy Full Report Now @ https://www.futuremarketinsights.com/checkout/2392

The section – marine electronics market analysis by region, includes an in-depth country-level analysis of all global regions, namely, North America, Latin America, Western Europe, Eastern Europe, SEA and Others in Asia Pacific, Japan, China, and MEA, by component type, by application type, and by country; and provides market data in terms of value for 2018-2028. In 2017, the market in South East Asia dominated the overall global marine electronics market (given Asia Pacific is considered separately as three regions, i.e. China, Japan, and SEA and Others of APAC), while the fastest growing region in the marine electronics market is Latin America. South East Asia is further expected to hold a majority of the market share of the marine electronics market in 2028 as well.

ABOUT US:
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.

CONTACT:
Future Market Insights
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
Email: sales@futuremarketinsights.com
Website: www.futuremarketinsights.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Marine Electronics Market to Witness Growth Acceleration of US$ 7,745.3 Mn During 2018-2028 here

News-ID: 1560260 • Views:

More Releases from Future Market Insights

Global Lithium Ion Battery Separator Market Projected to Reach US$ 3,256.7 Million by 2032
Global Lithium Ion Battery Separator Market Projected to Reach US$ 3,256.7 Milli …
The lithium-ion battery separator is a critical component in lithium-ion batteries, responsible for preventing short circuits and ensuring safe and efficient battery performance. It acts as a physical barrier between the positive and negative electrodes, allowing lithium ions to pass through while blocking the flow of electrons. With advancements in separator technology, these separators play a key role in enhancing battery capacity, cycle life, and overall safety in various applications,
Industrial Drums Market on a Trajectory to Reach US$ 17.6 Billion by 2027, Bolstered by a Robust 7.1% CAGR from 2022
Industrial Drums Market on a Trajectory to Reach US$ 17.6 Billion by 2027, Bolst …
The Industrial Drums Market is experiencing a steady and promising trajectory, with an estimated value of US$ 12.5 billion in 2022, projected to escalate to US$ 17.6 billion by 2027 at a commendable Compound Annual Growth Rate (CAGR) of 7.1%. This growth is substantiated by a 6.6% CAGR in volume during 2022-27, as per Future Market Insights. Anticipated to expand 1.5 times within this period, the market presents alluring prospects for industry
Supermarkets, Convenience Stores, and Eco-friendly Choices Fuel the Expansion of the Metal Cans Industry, Catering to Health-conscious and Environmentally-aware Consumers
Supermarkets, Convenience Stores, and Eco-friendly Choices Fuel the Expansion of …
The metal cans market is predicted to grow at a CAGR of 5% over the forecast period, according to research by Future Market Insights. The industry's estimated value is expected to increase from US$ 56 Bn in 2023 to US$ 91.1 Bn by 2033. The market for metal cans has been driven by the heightened demand for the product in food and beverages industry. Metal cans helps prolong shelf-life of perishable
Folding IBCs Market Poised for Growth: Expected to Reach US$ 528 Million by 2027 with a 4.8% CAGR
Folding IBCs Market Poised for Growth: Expected to Reach US$ 528 Million by 2027 …
The folding intermediate bulk containers (IBCs) market is on a growth trajectory, with an estimated value of US$ 418 million in 2022, projected to reach US$ 528 million by 2027, showcasing a Compound Annual Growth Rate (CAGR) of 4.8%. Remarkably, the China folding IBCs market defied initial pandemic-related skepticism and is anticipated to grow by 6.9% year on year in 2022. Despite global challenges, China's folding IBCs market is poised to contribute

All 5 Releases


More Releases for Marine

Ocean Engineering Equipment Market Business Opportunities 2026 - Top Companies a …
The Ocean Engineering Equipment Market research added by UpMarketResearch.com, offers a comprehensive analysis of growth trends prevailing in the global business domain. This report also provides definitive data concerning market, size, commercialization aspects and revenue forecast of the industry. In addition, the study explicitly highlights the competitive status of key players within the projection timeline while focusing on their portfolio and regional expansion endeavors. Request Exclusive Free Sample PDF of This
Marine Cranes Market Reviews and Statistics 2020 - DMW Marine, Heila Cranes, Eff …
An extensive study of the product application and services conducted by subject matter experts assessing the global Marine Cranes market will help product owners to make a wise decision. The latest research report on Marine Cranes market for the forecast period, 2020 - 2025 is involved in screening the business environment and the companies operating in the Marine Cranes industry. Importantly, the research sheds a lot of light on their winning
Marine Trailers Market by Key Players Insights - Owens & Sons Marine, EZ LOADER, …
Marine Trailers Market: Introduction Marine Trailers are supportive equipment used to tow or carry personal, commercial or marine boats from one place to another. Marine trailers are prominently gaining demand in personal use due to the growing hiking and adventurous activity among millennials. Personal boats need to be carried from respective individual houses or residential places to the activity area. With the growing needs of urban population, the marine trailers market
Marine Seats Market | Spreading Key players - Wise Seats, Moeller Marine Product …
Global Marine Seats Market, 2018-2023, is a market research report by KD Market Research that offers extensive and highly detailed current and future market trends in the global and regional/market. The report offers market size and structure of the overall industry based upon a unique combination of industry research, fieldwork, market sizing analysis, and our in-house expertise. Global Marine Seats Market was held at USD XXX Million in 2017 and is expected
Marine Big Data Market - Information Provided by Marine Big Data Considered Indi …
Considering big data analytics in the marine sector is an upcoming technology, the global marine big data market is poised to witness a highly competitive environment. As the market is at a booming phase, Transparency Market Research (TMR) forecasts strong growth for in a new study. “In order to emerge at fore, a majority of the market players are focusing on product differentiation,” said a lead TMR analyst. “In consequence
Global Ship Crane Market Forecast 2018-2025 Allied Marine Crane, Appleton Marine …
Recently added detailed market study "Global Ship Crane Market" examines the performance of the Ship Crane market 2018. It encloses an in-depth Research of the Ship Crane market state and the competitive landscape globally. This report analyzes the potential of Ship Crane market in the present and the future prospects from various angles in detail. The Global Ship Crane Market 2018 report includes Ship Crane market Revenue, market Share, Ship Crane