Digital Shipyard Market Updates : Projected to Attain USD 7.7 Billion by 2032

A 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐒𝐡𝐢𝐩𝐲𝐚𝐫𝐝 has been engaged to incorporate an array of digital technologies within a shipyard, including augmented reality, virtual reality, and the Internet of Things (IoT), in order to enhance operational efficiency. This solution fosters real-time immersive settings for simulating shipyard operations, leading to improved learning retention, job performance, and teamwork. As a result of the significant surge in process automation, the global digital shipyard market is experiencing substantial growth.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/A09171

Increase in demand for cargo ships due to increased maritime trade, rise in environmental concerns globally to lower the carbon footprint generated in the shipping industry, and rise in adoption of digital twin technology supplement the growth of the digital shipyard market. However, high cost of digitalization and training cost products and complexity associated with the systems are expected to hamper the growth of the market. In addition, rising implementation of robot technology in the shipbuilding industry and increasing use of industrial internet of things (IIoT) are expected to create ample opportunities for the key players operating in the market.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

Altair Engineering Inc., Aras, Siemens, Inmarsat Global Limited, Kreyon Systems Pvt Ltd., BAE Systems, Damen Shipyards Group, SSI, PROSTEP AG, Dassault Systemes, iBase-t, Pemamek, KRANENDONK Production Systems BV, Wartsila, Hexagon AB, SAP, Aveva Group plc

Prime determinants of growth

An increase in demand for cargo ships due to increased maritime trade, rise in environmental concerns worldwide to lower the carbon footprint generated in the shipping industry, and rise in adoption of digital twin technology drive the growth of the global digital shipyard market. However, the high cost of digitalization and training cost products, and complexity associated with the systems restricts the market growth. Moreover, rising implementation of robot technology in shipbuilding industry, and increasing use of industrial internet of things (IIoT) presents new opportunities in the coming years.

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐭𝐡𝐞 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/checkout-final/d96d5c6cd58800a880b5f370f4c865be

A rise has been witnessed in the demand for transportation of cargo through water ways as a lot of cargos are being efficiently transferred securely to the other end. Moreover, cargo ships are less expensive for shipping goods as compared to road and air transits, and more cargo can be carried from one place to another within a short span of time. As per the records of UNCTAD, approximately 1,687 million tons of cargo is transported every year in around 177.6 million containers covering 998 billion tons.

Based on type, the commercial shipyard segment held the highest market share in 2022, accounting for more than two-thirds of the global digital shipyard market revenue and is estimated to maintain its leadership status throughout the forecast period. This segment is also projected to manifest the highest CAGR of 20.6% from 2023 to 2032, owing to the increase in sea tourism, industrialization and globalization.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for around two-fifths of the global digital shipyard market revenue, however LAMEA is expected to dominate the market during the forecast period. The Asia-Pacific region is dominating due to the presence of emerging economies such as China and India that are modernizing and procuring marine vessels for the upgradation of their shipyards to establish a strong foothold in the marine sector. However, the LAMEA region is expected to witness the fastest CAGR of 27.6% from 2023 to 2032. LAMEA regions are witnessing foreign investment in their countries, due to which there is rise in the development and implementation of automation, thereby boosting the market growth in the region.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮'𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A09171

The recent developments in commercial vessels and giant players' innovation of cargo ships equipped with latest technology, such as advanced sensors, navigation system, and other components, boost the demand for the autonomous cargo ships globally. For instance, Norwegian-based Yara Birkeland planned to introduce the first autonomous cargo ship in 2020. Hence, the rise in the seaborne trade results in increase in demand for large capacity carrying ships (cargo ships) or container ships equipped with latest technologies, which is expected to foster the demand for digital shipyards, thus boosting the market growth.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By type, the commercial shipyards segment dominated the global digital shipyard market in 2022, in terms of growth rate.

On the basis of technology, the others segment is anticipated to exhibit a remarkable growth during the forecast period.

By capacity, the large shipyards segment is the highest contributor to the digital shipyard market in terms of growth rate.

By digitization level, the fully-digital shipyard segment is anticipated to exhibit a remarkable growth during the forecast period.

By region, LAMEA is anticipated to exhibit a remarkable growth during the forecast period.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

Electric Ships Market - https://www.alliedmarketresearch.com/electric-ships-market-A09173

Solar Boat Market - https://www.alliedmarketresearch.com/solar-boat-market-A10180

Solar Vehicle Market - https://www.alliedmarketresearch.com/solar-vehicle-market

Minibus Market - https://www.alliedmarketresearch.com/mini-bus-market-A12258

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