10.2% CAGR of Integrated Marine Automation Market Trends Analysis by Autonomy, Ship Type, End User, Solution, System, Geography

The report "Integrated Marine Automation System Market, by Autonomy (Autonomous, Remotely-operated, Partial Automation), Ship Type (Commercial, Defense, Unmanned), End User (OEM, Aftermarket), Solution (Products, Services), System and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)", the Integrated Marine Automation Market is projected to reach 12.46 billion USD from 5.7 billion USD in 2022 with a CAGR of 10.2% in the forecast period of 2023-2030.

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Some of the major players operating in the integrated marine automation system market are Consilium Safety Group, ABB, Siemens, Kongsberg Maritime, Thales Group, Marine Technologies, LLC, Honeywell International Inc., Rolls-Royce plc, Praxis Automation Technology B.V., Wärtsilä, Rockwell Automation, Inc., Hyundai Heavy Industries Co., Ltd., General Electric, TOKYO KEIKI., FINCANTIERI S.p.A., Northrop Grumman., Jason Marine Group, Emerson Electric Co, and API Marine Inc.

Some of the recent developments in the Integrated Marine Automation Market are:

Sunrise Reliance LLC won a contract with Hoglund in October 2021 for the provision of an Automation and Fuel Gas Supply System (FGSS) for the conversion of a 2400 TEU container ship. In order to create an integrated solution that comprises a Ship Performance Monitor (SPM), FGSS, Power Management System (PMS), and full automation of new systems on the ship, Hoglund and COSCO Shipyard Group will collaborate.

The SMS Roman tugboat will have MJR Power and Automation's marine automation platform MAP-OE installed as of November 2021.

The market for integrated marine automation deals with the implementation of cutting-edge automation and control technology in a range of maritime applications, such as ships, offshore platforms, and other marine systems. The following are some examples of integrated marine automation market drivers:

The need for safety and efficiency in maritime operations is growing, and integrated marine automation systems contribute to these improvements by giving real-time data and control over numerous components of the platform or vessel.

The development of technology in the Integrated maritime Automation market is expanding as a result of the development of cutting-edge technologies like the Internet of Things (IoT), artificial intelligence (AI), and machine learning (ML), which have made it possible to integrate different maritime systems. The development of software tools for automating ship operations is the attention of major players. The market is expected to rise as a result of the increasing development of software to guarantee effective ship operations, vessel traffic management, and ship health monitoring.

By optimizing energy consumption, enhancing maintenance scheduling, and minimizing downtime, Integrated Marine Automation systems can aid in the reduction of operational costs.

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The term "integrated marine automation" refers to the integration of multiple propulsion control, navigation, communication, power management, and safety systems as well as other control and monitoring systems on a ship. Integrated Marine Automation aims to increase the effectiveness, security, and dependability of a ship's operations by facilitating seamless communication and system coordination.

By giving real-time data about the ship's performance, surroundings, and operational status, the system is intended to lighten the workload on the crew and improve situational awareness. Advanced sensors, computers, and software are often used by integrated marine automation systems to automatically monitor and operate a variety of shipboard functions.

Reduced fuel consumption, increased maneuverability and stability, increased safety, and lower maintenance costs are a few advantages of Integrated Marine Automation. The system is gaining popularity in the maritime sector as it enables ships to operate more safely and effectively in a market that is growing more demanding and competitive.

Integrated Marine Automation Market Segments

Integrated Marine Automation Market is segmented based on Product type, Solution type, and End-User.

The integrated marine automation system market is divided into hardware and software based on the kind of product. Due to the increasing installation of automation systems in both new and existing ships, it is projected that the hardware segment would dominate the market. Due to the increasing development of software to boost digitalization in the maritime industry, the software segment is anticipated to grow at a higher CAGR throughout the forecast period.

The market is divided into categories such as safety, power management, and vessel management based on the solution. During the forecast period, it is anticipated that the vessel management system segment will dominate the market. The rising use of vessel management systems by naval, marine, and offshore businesses to monitor and regulate ship operations has contributed to the segment's rise.

The autonomous ships market is divided into line-fit and retrofit segments based on end-use. In 2020, the line-fit category is anticipated to hold a bigger share than the retrofit segment. The expansion of the line fit market can be ascribed to the rise in global seaborne commercial operations as well as the increased spending made on naval defense by different nations.

Major and Growing Geographies

Market research has been done on integrated marine automation systems in North America, Europe, Asia Pacific, the Middle East, and Africa. Due to the increased demand for autonomous ships and cruise ships as well as the expansion of the shipbuilding sector in this region, Europe now dominates the market for integrated marine automation systems and will likely maintain this trend of dominance. According to estimates, Asia Pacific will drive the majority of global market growth. Over the years, the Asia Pacific region has experienced rapid economic growth, increasing maritime trade. Because of the increase in sea trade, there is now a greater need for ships to deliver produced commodities around the world. As a result, the demand for integrated marine automation systems in this region has expanded as the number of ships has increased.

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