The "Connected Ship Solutions Market by Ship Type, Installation Type, and Geography - Global Forecast and Analysis 2019-2023" report has been added to ResearchAndMarkets.com's offering.
The connected ship solutions market analysis considers sales from both commercial and defense ship type. The analysis also considers the sales of connected ship solutions in APAC, Europe, North America, South America, and MEA.
In 2018, the commercial segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as accelerating seaborne trade and growing marine tourism industry will play a significant role in the commercial segment to maintain its market position.
Also, the global connected ship solutions market report looks at factors such as increasing number of passenger cruise ships, rising seaborne trade activities, and digital transformation of marine industry.
However, high costs of implementation, need to comply with strict regulations, and data privacy and security concerns may hamper the growth of the connected ship solutions industry over the forecast period.
Rising seaborne trade activities
Rapid industrialization and the liberalization of economies has increased the total seaborne trade volume, thereby, boosting the shipping industry. The rising seaborne trading activity is also attributed to technological advances.
The improved fuel efficiency functionalities and the proliferation of multi-fuel engines have made shipping one of the most fuel-efficient and environment-friendly forms of commercial transport. Thus, the rising seaborne trade activities will lead to the expansion of the global connected ship solutions market at a CAGR of almost 5% during the forecast period.
Digital transformation in the marine industry
Ship operators are increasingly focusing on optimizing costs, delivering better services, and boosting revenues via digital transformation. Shipping companies are introducing automation and digital techniques to streamline business processing and customer handling processes to enhance their market share.
Connected ship solutions generate a substantial amount of data, and the use of several risk-averting models and predictive mechanisms on the data can lead to enhanced business productivity. Thus, the digital transformation in the marine industry will drive the demand for connected ship solutions.
With the presence of several major players, the global connected ship solutions market is fragmented. The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading connected ship solutions manufacturers, that include:
ABB Ltd. Emerson Electric Co. General Electric Co. Northrop Grumman Corp. Siemens AG
Also, the connected ship solutions market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Key Topics Covered
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
Market ecosystem Market characteristics Market segmentation analysis
PART 04: MARKET SIZING
Market definition Market sizing 2018 Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
Bargaining power of buyers Bargaining power of suppliers Threat of new entrants Threat of substitutes Threat of rivalry Market condition
PART 06: MARKET SEGMENTATION BY SHIP TYPE
Comparison by ship type Commercial - Market size and forecast 2018-2023 Defense - Market size and forecast 2018-2023 Market opportunity by ship type
PART 07: MARKET SEGMENTATION BY INSTALLATION TYPE
PART 08: CUSTOMER LANDSCAPE
PART 09: GEOGRAPHIC LANDSCAPE
Geographic comparison Europe - Market size and forecast 2018-2023 APAC - Market size and forecast 2018-2023 North America - Market size and forecast 2018-2023 MEA - Market size and forecast 2018-2023 South America - Market size and forecast 2018-2023 Key leading countries Market opportunity
PART 10: DECISION FRAMEWORK
PART 11: DRIVERS AND CHALLENGES
PART 12: MARKET TRENDS
Increasing number of applications of analytics in maritime information management Increasing emergence of autonomous cabs and parcel delivery fleets Emerging use of satellite imagery Growing demand for eco-friendly ship
PART 13: VENDOR LANDSCAPE
Overview Landscape disruption Competitive scenario
PART 14: VENDOR ANALYSIS
Vendors covered Vendor classification Market positioning of vendors ABB Ltd. Emerson Electric Co. General Electric Co. Northrop Grumman Corp. Siemens AG
For more information about this report visit https://www.researchandmarkets.com/r/hbm6y3
View source version on businesswire.com: https://www.businesswire.com/news/home/20190910005684/en/
SOURCE: Research and Markets
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