Global Integrated Marine Automation System Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope
An integrated marine automation system entails a variety of control systems, from small stand-alone alarm systems to fully integrated alarm and control systems. These systems are composed of various hardware and software components that capture, process, store, transmit, and present information about the vessel's system. The system's essential quality is its ability to continuously provide trusted information to control personnel, allowing for quick and appropriate responses. The integrated marine automation system is used to monitor and control operations on a ship.

Sizing and Forecast
The integrated marine automation system market size has grown strongly in recent years. It will grow from $4.71 billion in 2023 to $5.09 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%.  The  growth in the historic period can be attributed to rising government support, growing tourism, increasing demand for cruise ships and rising naval ships.

The integrated marine automation system market size is expected to see strong growth in the next few years. It will grow to $6.96 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%.  The growth in the forecast period can be attributed to rising government support, growing tourism, increasing demand for cruise ships and rising naval ships. Major trends in the forecast period include technological advances to aid in development of new products, product innovations in automated software testing, scriptless test automation to reduce the time of execution, test automation to lower the risk of defects in software applications and artificial intelligence for testing to improve user experience.

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Segmentation & Regional Insights
The integrated marine automation system market covered in this report is segmented –

1) By Ship Type: Commercial, Defense, Unmanned
2) By System: Power Management System, Vessel Management System, Process Control System, Safety System
3) By Autonomy: Partial Automation, Remotely-Operated, Autonomous
4) By End User: Original Equipment Manufacturer, Aftermarket

Europe was the largest region in the integrated marine automation system market in 2023. The regions covered in the integrated marine automation system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
Growing tourism is expected to contribute to the growth of the integrated marine automation system market going forward. The tourism industry often relies on cruise ships to transport passengers to various destinations. With growing tourism, there is an increased demand for cruise vessels. These ships are typically equipped with advanced automation systems to enhance the passenger experience, optimize fuel efficiency and ensure safety. For example, according to the Government of Brazil, the tourism industry in Brazil grew by 85.7% in 2022, compared to the same period in 2021. Cruise tourism is one of the most dynamic and fastest-growing components of the leisure industry worldwide. Moreover, in May 2022, according to the Press Information Bureau, an India-based apex organization under the central government, India aims to increase cruise passenger traffic from 0.4 million at present to 4 million. Additionally, according to ForwardKeys, a Spain-based Database management company, 800,000 cruise ship passengers were estimated to visit Valencia in 2022, with 219 port stops scheduled for the year. Therefore, growing marine tourism is expected to positively impact the growth of the integrated marine automation system market during the forecast period.

Key Industry Players
Major companies operating in the integrated marine automation system market report are Kongsberg Gruppen ASA, Siemens Energy, Emerson Electric Co, ABB Ltd., Wartsila Corporation, Rockwell Automation Inc., Ingeteam, Honeywell International Inc., Rolls-Royce Holdings Plc, Consilium AB, Jiangnan Shipyards Group, Changyuan Group Ltd., Zhonggu Logistics, Pacific International Lines (PIL), Yang Ming Marine Transport, Omron Corporation, Hitachi, Ltd., IHI Corporation, Korea Line Corporation, Hyundai Heavy Industries, CMI Jinling Shipyard, Aselsan, Buffalo Automation, Northrop Grumman, Naval Group, Bourbon Corporation, Elma B.V, RH Marine, Valcom, Transas Navigator, Concern Morinformsystem-Agat JSC, Boening Ship Automation, Jason Marine Group, Elcome, Control Solutions South Africa (Proprietary

The integrated marine automation system market report table of contents includes:

1. Executive Summary
2. Integrated Marine Automation System Market Characteristics
3. Integrated Marine Automation System Market Trends And Strategies
4. Integrated Marine Automation System Market - Macro Economic Scenario
5. Global Integrated Marine Automation System Market Size and Growth
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31. Global Integrated Marine Automation System Market Competitive Benchmarking
32. Globa Integrated Marine Automation System Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Fat Replacers Market
34. Integrated Marine Automation System Market Future Outlook and Potential Analysis
35. Appendix

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