Global Connected Ship Market to 2023: Opportunities in Adoption of Vessel Traffic Services & Development of New Port Cities in Emerging Economies
DUBLIN, Nov 1, 2018 /PRNewswire/ --
The "Connected Ship Market by Application (Vessel Traffic Management, Fleet operations, Fleet Health Operations), Installation Type (Onboard, Onshore), Ship Type (Commercial, Defense), Fit (Linefit, Retrofit), Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The connected ship market is projected to grow from USD 5.92 billion in 2018 to USD 7.19 billion by 2023, at a CAGR of 3.95% from 2018 to 2023.
Factors such as the incorporation of the Information and Communication Technology (ICT) in the global marine industry, increased budgets of shipping companies for digitalization of their vessels, growth of the seaborne trade across the globe, need for situational awareness among fleet operators, and growth of the maritime tourism industry are expected to drive the growth of the connected ship market during the forecast period.
Based on ship type, the defense segment of the connected ship market is projected to grow at a higher CAGR than the commercial segment from 2018 to 2023. The growth of this segment of the market can be attributed to the extensive use of connected ships by the naval forces of different countries. These ships have integrated systems, which are capable of linking various ship components and systems with one controlling and monitoring unit. Defense connected ships are different from commercial connected ships, in terms of their applications, designs, construction methods, and technologies. Investments are being made by different countries across the globe for the development of new and advanced naval connected ships and submarines.
Based on fit, the linefit segment of the [external URL] is projected to grow at a higher CAGR than the retrofit segment during the forecast period. The growth of the linefit segment of the connected ship market can be attributed to the increased investments in naval defense by various countries and rise in seaborne trade activities across the globe. Moreover, the increase in the number of orders for new ships is also expected to lead to the growth of the linefit segment of the market. China, India, and various other countries of South China Sea are enhancing their naval power by carrying out modernization of their naval fleets.
Based on application, the fleet health monitoring segment of the connected ship market is projected to grow at the highest CAGR during the forecast period. Connected ships enable smooth fleet operations by enabling effective communication with onshore stations and providing reliable information about safe and economical sea routes. This, in turn, leads to the effective fleet health monitoring.
Based on installation type, the onboard segment of the connected ship market is projected to grow at the highest CAGR from 2018 to 2023. The onboard segment of the market has been further classified into navigation positioning and tracking, automation, communication management systems, and ship information management systems.
The European region is projected to lead the connected ship market during the forecast period. Although the shipbuilding industry in the region is going through a rough patch at present, the increased demand for autonomous ships and cruises from the region is expected to fuel the growth of the Europe market during the forecast period. The European region is one of the prime consumers of marine electronic equipment as some of the leading shipbuilding countries such as Germany, France, Italy, and Russia are in this region. The shipbuilding industry of the European region offers complex naval vessels such as cruises, ferries, mega yachts, submarines, and dredgers (offshore vessels) and hence, holds a strong position in the international market. Moreover, the marine equipment industry of the region also offers a wide range of products/ship components such as propulsion systems, diesel engines, environment safety systems, cargo handling systems, and related electronic products.
High costs of marine broadband connectivity and the vulnerability of connected ships to cyber threats due to their digitalization are expected to restrain the growth of the market across the globe.
Some of the key players operating in the market are Northrop Grumman (US), General Electric (US), Wartsila (Finland), Kongsberg Grumman (Norway), and Marlink (Norway). Leading companies in the connected ship market have adopted inorganic growth strategies to enhance their position in the market.
Key Topics Covered:
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Study Scope
1.4 Currency & Pricing
1.5 Study Limitations
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Market Breakdown & Data Triangulation
2.4 Research Assumptions
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Connected Ship Market
4.2 Connected Ship Market, By Ship Type
4.3 Europe Connected Ship Market, By Country & Application
4.4 Connected Ship Market, By Installation Type
4.5 Connected Ship Market, By Fit
4.6 Connected Ship Market, By Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Incorporation of ICT in the Global Marine Industry
5.2.1.2 Increased Budgets of Shipping Companies for Digitalization of Vessels
5.2.1.3 Increase in Seaborne Trade Across the Globe
5.2.1.4 Situational Awareness Requirement of Fleet Operators
5.2.1.5 Growing Maritime Tourism Industry
5.2.2 Restraints
5.2.2.1 High Costs of Marine Broadband Connectivity
5.2.2.2 Digitalization Renders Connected Ships Vulnerable to Cyber Threats
5.2.3 Opportunities
5.2.3.1 Initiatives for the Development of Connected Autonomous Ships
5.2.3.2 Adoption of Vessel Traffic Services (VTS) By Shipping Companies
5.2.3.3 Development of New Port Cities in Emerging Economies
5.2.4 Challenges
5.2.4.1 Limited Internet Facilities in Connected Ships
5.2.4.2 Lack of Skilled Personnel to Handle and Operate Connected Ships
5.2.4.3 Lack of Common Standards for Data Generated From Different Subsystems of Connected Ships
6 Industry Trends
6.1 Introduction
6.2 Technology Roadmap
6.3 Technological Advancements in the Marine Industry
6.3.1 Artificial Intelligence
6.3.2 Big Data Analytics
6.3.3 Internet of Things (IoT)
6.3.4 Cloud-Based Solutions
6.3.5 Smart Ships Using Satellite Communication
6.4 Technology Trends
6.4.1 Global Navigation Satellite System (GNSS)
6.4.2 High Throughput Satellites (HTS)
6.4.3 Digital Marine Automation Systems
6.4.3.1 Sensor Fusion Solutions
6.4.3.2 Control Algorithms
6.4.3.3 Conning Systems
6.4.3.4 Connectivity Solutions
6.4.3.5 Autopilot
6.4.3.6 Mooring Control and Monitoring Systems
6.4.3.7 Automated Radar Plotting Aid
6.4.3.8 Electronic Chart Display and Information System
6.4.3.9 Communication Systems
6.4.3.10 Voyage Data Recorders
6.4.3.11 Decision Support Systems
6.4.4 Vessel Traffic Management System
6.4.5 Autonomous Marine Vessels
6.4.6 Integrated Ship Automation Systems
7 Connected Ship Market, By Application
7.1 Introduction
7.2 Vessel Traffic Management
7.2.1 Demand for Safety and Efficiency of Vessels Will Drive the Growth for Vessel Traffic Management Systems
7.3 Fleet Operations
7.3.1 Need for Real-Time Situational Awareness to Fleet Operators Will Boost Demand for Fleet Operations
7.4 Fleet Health Monitoring
7.4.1 Increasing Demand for Remote Engine Monitoring System for Marine Engines to Drive the Growth of Fleet Health Monitoring System
8 Connected Ship Market, By Installation Type
8.1 Introduction
8.2 Onboard
8.2.1 Navigation Positioning and Tracking
8.2.1.1 Integrated Bridge Systems
8.2.1.1.1 Increasing Use of Connectivity Solutions in the Integrated Bridge System is Driving the Growth of the Market
8.2.1.2 Navigation Systems
8.2.1.2.1 Need for Efficient Route Planning for Ships Will Boost Demand for Navigation Systems
8.2.2 Ship Information Management Systems
8.2.2.1 Voyage Data Recorders
8.2.2.1.1 Installation of Sensors in Vessel Systems Will Boost Demand for Voyage Data Recorders
8.2.2.2 Data Processors
8.2.2.2.1 Growing Demand for Big Data Analytics is Driving the Growth of Data Processors in the Market
8.2.3 Communication Management Systems
8.2.3.1 Very Small Aperture Terminal
8.2.3.1.1 Rise in the Use of Satellite Connectivity is Driving the Growth of Vsat
8.2.3.2 Mobile Satellite Systems
8.2.3.2.1 Deliveries of Mobile Satellite Devices for Marine Application Expected to Push the Demand for Mss
8.2.4 Automation
8.2.4.1 Surveillance and Safety Systems
8.2.4.1.1 Ensuring Safe and Secure Navigation of Ships Will Boost Demand for Surveillance and Safety
8.2.4.2 Power Management Systems
8.2.4.2.1 Importance of Continuing Power Supply in Vessels is Supporting the Growth of Pms
8.2.4.3 Propulsion Control Systems
8.2.4.3.1 Optimum Performance of Propulsion Systems is Driving the Demand for Propulsion Control System
8.2.4.4 Machinery Management Systems
8.2.4.4.1 Importance of Monitoring Health and Functions of Vessel Systems is Driving the Growth of the Machinery Management Systems
8.2.4.5 Alarm Management Systems
8.2.4.5.1 Controlling Faulty Alarm System and Preventing Critical System Failure Supports the Growth of the Segment
8.2.4.6 Ballast Management Systems
8.2.4.6.1 Strict Regulations to Treat Ballast Water in Ships is Driving the Growth of Ballast Management
8.2.4.7 Thruster Control Systems
8.2.4.7.1 Enhancing Easy Maneuvering of Ship is Driving the Demand for Thruster Control Systems
8.3 Onshore
8.3.1 Servers
8.3.1.1 Asia Pacific to Lead Connected Ship Market for Onshore Servers Between 2018 to 2023
8.3.2 Ship Data Analysis and Management
8.3.2.1 Software
8.3.2.1.1 Fleet Management Software
8.3.2.1.1.1 Increase in Marine Vessel Deliveries Will Boost Demand for Fleet Management Software
8.3.2.1.2 Data Analysis Software
8.3.2.1.2.1 IoT Based Sensors and Alarm Monitoring Sensors are Supporting the Growth of Data Analysis Software
8.3.2.2 Services
8.3.2.2.1 Health Monitoring Services
8.3.2.2.1.1 Increasing Awareness of Predictive Maintenance in Ships to Drive the Demand for Health Monitoring Services
8.3.2.2.2 Navigation Assistance Services
8.3.2.2.2.1 Smooth and Effective Navigation of Marine Vessels Will Boost Demand for Navigation Assistance Services
9 Connected Ship Market, By Ship Type
9.1 Introduction
9.2 Commercial
9.2.1 Passenger Ships & Cruises
9.2.1.1 Growth in International Sea Travel Will Boost Demand in Passenger Ships & Cruises
9.2.2 Dry Cargos
9.2.2.1 Upgradation in the Dry Cargos for Real Time Data Exchange is Driving the Growth
9.2.3 Other Ships
9.2.3.1 Specialized Vessels
9.2.3.1.1 High Demand for Specialized Vessels in Maritime Tourism is Supporting the Growth in the Market
9.2.3.2 Offshore Vessels
9.2.3.2.1 Demand From Oil and Gas Industry is Driving the Growth of Offshore Vessels
9.3 Defense
9.3.1 Aircraft Carrier
9.3.1.1 Upgradation of Communication Devices is Driving the Growth in Aircraft Carrier
9.3.2 Corvettes
9.3.2.1 Rise in Situational Awareness to Drive the Demand in Corvettes
9.3.3 Frigates
9.3.3.1 Improvising the Co-Ordination in the Naval Fleet is Driving the Growth in Frigates
9.3.4 Submarine & Uuvs
9.3.4.1 Growing Applications of Unmanned and Underwater Ships are Driving the Demand in Submarines & Uuvs
10 Connected Ship Market, By Fit
10.1 Introduction
10.2 Linefit
10.2.1 Increase in the Deliveries of New Ship is Expected to Drive the Demand in Linefit Segment
10.3 Retrofit
10.3.1 Rise in the Upgradation of Connected Systems for Older Vessels is Expected to Drive the Demand in Retrofit Segment
11 Regional Analysis
11.1 Introduction
11.2 Asia Pacific
11.2.1 By Country
11.2.1.1 China
11.2.1.1.1 Increase in Naval Spending and Rise in Domestic Ship Production are Expected to Drive the Connected Ship Market in China
11.2.1.2 South Korea
11.2.1.2.1 Integration of Connected Ship System By Various Shipbuilding Players to Drive the Growth in South Korea
11.2.1.3 Japan
11.2.1.3.1 Increasing Deliveries of Naval Ship is Driving the Growth of Connected Ship Market in Japan
11.2.1.4 India
11.2.1.4.1 Upgradation of Old Ships With New Systems is Expected to Drive the Market in India
11.2.1.5 Rest of Asia Pacific
11.2.1.5.1 Demand for Upgradation of Legacy System to Boost the Demand for Connected Ship Systems in the Region
11.3 North America
11.3.1 By Country
11.3.1.1 US
11.3.1.1.1 Rise in Naval Ship Building in the Country is Driving the Growth of the Market
11.3.1.2 Canada
11.3.1.2.1 Canada Government's Strategic Decision to Develop Its Own Indigenous Marine Industry to Grow the Market
11.4 Europe
11.4.1 By Country
11.4.1.1 Germany
11.4.1.1.1 Ship Equipment Upgradation Will Boost the Demand for Connected Ship Systems in the Country
11.4.1.2 Italy
11.4.1.2.1 Retrofitting of Connected Ship Technologies in Vessels is Driving the Growth of the Market in Italy
11.4.1.3 UK
11.4.1.3.1 Growing Investment in the Upgradation of Marine System is Expected to Drive the Connected Ship Market in UK
11.4.1.4 Russia
11.4.1.4.1 Introduction of Automation Technologies in Naval Ships Will Boost Demand for Connected Systems in Russia
11.4.1.5 France
11.4.1.5.1 Increasing Development of Naval Vessels has Contributed to the Growth of the Connected Ship Market in France
11.4.1.6 Rest of Europe
11.4.1.6.1 Supply of Connected Ship Components and Systems From OEMs to Drive the Growth of the Market
11.5 Rest of the World
11.5.1 By Region
11.5.1.1 Middle East & Africa
11.5.1.1.1 Development of National Shipbuilding Companies Have Provided Momentum to the Shipbuilding Industry
11.5.1.2 Latin America
11.5.1.2.1 Rise in the Maritime Trade and Ship Overhauling is Driving the Demand for Connected Ship Market
12 Competitive Landscape
12.1 Introduction
12.2 Rank Analysis of Companies in Connected Ship Market, 2017
12.3 Regional Mapping of Leading Companies in Connected Ship Market
12.4 Competitive Scenario
12.4.1 Contracts
12.4.2 New Product Launches
12.4.3 Acquisitions
12.4.4 Agreements, Partnerships, and Collaborations
13 Company Profiles
13.1 ABB
13.2 Emerson
13.3 General Electric (GE)
13.4 Hyundai Heavy Industries (HHI)
13.5 Jason
13.6 Kongsberg Gruppen
13.7 Marlink
13.8 Northrop Grumman
13.9 RH Marine
13.10 Rockwell Automation
13.11 Schneider Electric
13.12 Siemens
13.13 Ulstein
13.14 Valmet
13.15 Wartsila
13.16 Innovators
13.16.1 Iridium
13.16.2 Inmarsat
13.16.3 Viasat
13.16.4 Intelsat
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