DUBLIN, Sept 11, 2018 /PRNewswire/ --
The "Global Automation Control Market in Marine Vessel 2018-2022" report has been added to ResearchAndMarkets.com's offering.
The global automation market in marine vessel to grow at a CAGR of 4.53% during the period 2018-2022.
The report also includes a discussion of the Key vendors operating in this market. To calculate the market size, the report considers the revenue generated from the use of automation control system in marine vessel based on product including monitoring and control system (M&CS), dynamic positioning system (DPS), bridge control system (BCS) and power management system (PMS).
Equipment such as generators, switchboards, propellers, auxiliary engines, and motors and drives are outsourced from different vendors, which makes the integration of marine equipment with automation systems necessary for maximum compatibility and high efficiency. Thus, the growing demand for integrated system by shipbuilders and operators to reduce interoperability issues will be a major trend driving growth of the automation control market in the next five years.
According to the market research report on automation and control systems used in marine vessels, the increasing environmental regulations on maritime industry will be a key driver contributing to the growth of the market. Strict regulations imposed by the IMO regarding carbon emission and overall fuel consumption has led shipbuilders to develop eco-friendly vessels incorporated with automation and control systems such as automated power-monitoring, energy management, and waste heat recovery systems. Since the reconstruction and modification costs of old vessels is higher than buying new vessels, ship builders are increasingly looking forward to implementing automation and control systems into their vessels.
Further, the report states that one of the major factors challenging the growth of this market is the threat to cybersecurity. The transition into complete automation by the marine industry have simplified operational processes in marine vessels but have also increased risks to cybersecurity. Since the automation control systems are connected to computer networks, hackers can easily infiltrate the system and manipulate operational activities, fake navigation data, delete records and access confidential data thus posing threat to the vessel as well as national security.
These factors have stopped ship operators from implementing automated systems, thus negatively impacting the growth of the market. With automation system providers improving their system performance and developing stronger security systems to prevent hackers from infiltrating vessels' control system the impact of this threat is expected to reduce considerably in the next five years.
- Rockwell Automation
- SYNNEX (Westcon Group)
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Market Landscape
Part 05: Market Sizing
Part 06: Five Forces Analysis
Part 07: Market Segmentation By Product
Part 08: Customer Landscape
Part 09: Regional Landscape
Part 10: Decision Framework
Part 11: Drivers And Challenges
Part 12: Market Trends
Part 13: Vendor Landscape
Part 14: Vendor Analysis
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SOURCE Research and Markets