Press release
Digital Shipyard Market Overview By Size, Share, Trends & Industry Segments Worth USD 3444.5 Million by 2028, At a CAGR of 17.27%
Digital Shipyard Market
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Report Coverage
The report presents insightful visions gained by methodical study done by our researchers. A wide-ranging research was directed to deliver the assessed size of the digital shipyard market. The data utilized to project the shares for multiple segments at the country, regional, and global levels are attained from methodical interviews with various stakeholders. Furthermore, we have attained admittance to numerous global and regional paid databases to deliver accurate information to make business investment choices effortless for you.
Segmentation
On the basis of shipyard type, the market is segregated into commercial and military.
In terms of technology platform, the market is categorized into robotic process automation, additive manufacturing, artificial intelligence and big data analytics, digital twin, blockchain, industrial Internet of Things (IIOT), and others. The robotic process automation segment is predicted to lead the market in 2020 owing to the surging demand for automation of numerous ship manufacturing methods such as welding, cutting, painting, and others.
In regards of digitalization Level, the market is classified into semi digital shipyard and fully-digital shipyard.
The global market is branched into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
List of Key Players Covered in the Report
IFS AB (Sweden)
Pemamek Oy (Finland)
Dassault Systemes (France)
BAE Systems (U.K.)
Altair Engineering, Inc. (U.S.)
AVEVA Group Plc (U.K.)
Wartsila (Finland)
KUKA AG (Germany)
Damen Shipyards Group (Netherlands)
Prostep AG (Germany)
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Driving Factors
Augmented Utilization of Industrial Internet of Things (IIoT) in Shipbuilding Industry to Spur Growth
The digital shipyard utilizes the IIoT to refine its decision-making competencies for manufacturing courses by amalgamating the communication proficiencies of the IoT with machine learning and big data. Furthermore, the increasing usage of IIoT in the shipbuilding industry to amplify production, decline downtime, and augment operational effectiveness, is projected to fuel the digital shipyard market growth.
Regional Insights
Asia Pacific Held Maximum Shares Stoked by
Asia Pacific is estimated to hold the highest digital shipyard market share with size of USD 323.3 million in 2020 and is anticipated to grow at a higher compound annual growth rate through the projection period.
The digital shipyard market in Europe will expand rapidly led by the increasing investments by European shipbuilders towards the adoption of automated robotic technology in shipbuilding.
North America segment is expected to increase owing to the growing research and development activities by the prime players such as Altair Engineering Inc. and others for digitalization of shipyards.
Competitive Landscape
Groundbreaking Product Launch Declarations by Prime Players to Bolster Market Growth
The fundamental players implement numerous tactics to spur their position in the market as leading companies. One such prime strategy is procuring companies to foster the brand value among users. Another effective tactic is intermittently launching groundbreaking products with a methodical study of the market and its target audience.
Industry Development
June 2021: Drydocks World unveiled a project of digital transformation to augment effective yield. The company declared to use IFS Cloud for asset management and resource planning, refining its systems and arranging the foundation for a digital shipyard transition.
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Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
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