Integrated Marine Automation System Market Outlook and Global Forecast to 2023

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The Integrated Marine Automation System Market is
estimated to be valued at USD 3.64 billion in
2018 and is projected to reach USD 4.00 billion
by 2023, at a CAGR of 1.90 from 2018 to 2023.
This market is driven by factors, such as the
increasing world trade by sea,
increasing maritime navigation safety resulting
in a reduction in the number of accidents, and
growing maritime tourism. Key Market Players The
key players profiled in the integrated marine
automation system market report include
Kongsberg Gruppen (Norway), and Wartsila
(Finland), among others. Download PDF Brochure
_at_ https//www.marketsandmarkets.com/pdfdownloadNew
.asp?id156354645 Based on ship type, the
commercial ships segment is projected to witness
higher growth during the forecast period On the
basis of ship type, the integrated marine
automation system market has been segmented into
commercial ships and defense. The commercial
ships segment is projected to grow at the higher
CAGR in the integrated marine automation system
market. Growth in seaborne trade has led to an
increase in demand for automation systems in
commercial ships or vessels. Passenger and cruise
ships account for the largest share of the
integrated marine automation system market. The
vessel management system segment is projected to
account for the largest market share in the
solution segment of the integrated marine
automation system market during the forecast
period The integrated marine automation system
market based on solution, is segmented into
power management system, vessel management
system, process control, and safety system. The
vessel management system segment is projected to
account for the largest market share in the
integrated marine automation system market based
on the solution segment during the forecast
period. The vessel management system is the
major system monitoring the ships systems, such
as alarm management system, ballast water
management, machinery management, and dynamic
positioning system, among others. The integrated
marine automation system market in Europe is
expected to witness considerable growth during
the forecast period The integrated marine
automation system market is divided into 4
geographic regions, namely, North America,
Europe, Asia Pacific, and the Rest of the World
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(RoW). The integrated marine automation system
market is led by Europe, predominantly by
Germany and Italy. The shipbuilding industry in
Europe is on the rise. The high growth in the
region is attributed to high demand for cruise
and passenger vessels. Countries in this region
are also focused on developing new generation
autonomous ships. Ask for Sample Report
_at_ https//www.marketsandmarkets.com/requestsampleN
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