Summary
The global Connected Ship Solutions Market is expected to witness a CAGR of xx% over the forecast period 2020-2026 and is expected to reach US$ xx million in 2026, from US$ xx million in 2019.
Overview
The Connected Ship Solutions is a new generation of modular ships that are assembled at sea from prefabricated sections and then shipped via barge to their destination. This revolutionary concept has completely changed the way in which large-scale transport of ships occurs. The ships are constructed on the barge by a skilled team of engineers using a full range of high-tech tools. Once assembled, the ships are ready to take to the sea. The global connected ship solutions market focuses on six regions namely North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The global connected ship solutions market is expected to witness significant growth during the forecast period, owing to increasing need for situational awareness requirements of fleet operators.
Market Drivers
Increased seaborne trade worldwide is expected to drive growth of the global connected ship solutions market during the forecast period. According to the United Nations Conference on Trade and Development (UNCTAD), goods loaded worldwide reached 11.1 billion tons in 2019, increasing from 10 billion tons in 2015. According to the India Brand Equity Foundation (IBEF), traffic at major ports of India reached 704.81 million tons in FY20. As a result of this, the adoption of connected ship solutions has increased significantly since it provides shipment visibility throughout the order. Hence, such factors are expected to drive growth of the global connected ship solutions market during the forecast period. Furthermore, increasing need for situational awareness requirement of fleet operators is expected to propel the global connected ship solutions market growth over the forecast period.
Market Restraint
High cost of marine broadband connectivity and lack of skilled personnel to operate connected ships is expected to restrain growth of the global connected ship solutions market during the forecast period.
Regional Insights
Among regions, Asia Pacific is expected to witness significant growth in the global connected ship solutions market during the forecast period. This is owing to increasing construction of new ports in Indonesia, the Philippines, and Hong Kong. Furthermore, Europe is expected to register a robust growth rate, increasing imports of electronic devices, oil, and spices from Asia Pacific.
Competitive Section
Major companies involved in the global ship solutions market are ABB, General Electric, Emerson, Siemens, Northrop Grumman, Synectics, and Iridium.
For instance, in July 2019, Emerson acquired Zedi’s software and automation business.
The Connected Ship Solutions Market report highlights product development and growth strategies such as merger and acquisition adopted by market players along with SWOT Analysis, PEST and Porter’s Five Forces analyses of the Connected Ship Solutions Market, which highlight the strengths, weaknesses, opportunities, and commination of key companies. Moreover, the report offers two distinct market forecasts, one from the perspective of the producer and another from that of the consumer.
The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers.
The Key Manufacturers covered in this Report:-
- ABB
- Emerson Electric
- General Electric
- Northrop Grumman
- Siemens
- Iridium
- Synectics
- NsslGlobal
By the Product Type, the market is primarily segmented into:
By Applications, the market is segmented into:
The Report covers the following Regions:
- North America
- United States
- Canada
- Mexico
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Indonesia
- Thailand
- Malaysia
- Philippines
- Vietnam
- Europe
- Germany
- France
- UK
- Italy
- Russia
- Central & South America
- Middle East & Africa
- Turkey
- GCC Countries
- Egypt
- South Africa
Objective of the Connected Ship Solutions Market Report:
- To assess the size of the market by value and volume
- Analyze the Connected Ship Solutions Market in terms of regions and major countries
- Highlight recent developments and trends in the market
- Offer perceptive data regarding major market players in terms of key developments, strategies, and product portfolio
- Determine share of the Connected Ship Solutions Market in terms of various segments such as by product type, application, and end-user
- Offer accurate projection of the market for the forecast period using state-of –the-art tools and the current primary and secondary research approaches
- Discuss major factors that impact growth of the Connected Ship Solutions Market
The Connected Ship Solutions Market engages the readers with all pivotal approaches to understand their position in the industry based on revenue or sales growth. The report efficiently evaluates the Connected Ship Solutions Market from various dimensions to deliver an end-product that is informative, elaborate, and accurate and includes detailed market segmentation, regional analysis, and competition in the market. The information in the report is backed by annual company reports, financial reports, press releases, regulatory databases, government documents, and statistical databases.
For the data information by region, company, type and application, 2019 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
Key Stakeholders:
- Material suppliers/wholesalers
- Market Distributors/traders
- Regulatory bodies
- Research organizations, and consulting firms
- Commercial research & developments (R&D)
- Trade associations and industry bodies
- Importers and exporters
- End-use industries
Available Customizations:
Custom research is one of the most crucial components of the business strategy that helps an organization gain insight into specific business sector, aligned with its specific area of interest. Thus, SMI offers more accurate, pragmatic, and actionable information specifically tailored to suit your business needs.
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