About this market
Technavio's connected ship solutions market analysis considers sales from both commercial and defense ship type . Our analysis also considers the sales of connected ship solutions in APAC, Europe, North America, South America, and MEA. In 2018, the commercial segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as accelerating seaborne trade and growing marine tourism industry will play a significant role in the commercial segment to maintain its market position. Also, our global connected ship solutions market report looks at factors such as increasing number of passenger cruise ships, rising seaborne trade activities, and digital transformation of marine industry. However, high costs of implementation, need to comply with strict regulations, and data privacy and security concerns may hamper the growth of the connected ship solutions industry over the forecast period.
Rising seaborne trade activities
Rapid industrialization and the liberalization of economies has increased the total seaborne trade volume, thereby, boosting the shipping industry. The rising seaborne trading activity is also attributed to technological advances. The improved fuel efficiency functionalities and the proliferation of multi-fuel engines have made shipping one of the most fuel-efficient and environment-friendly forms of commercial transport. Thus, the rising seaborne trade activities will lead to the expansion of the global connected ship solutions market at a CAGR of almost 5% during the forecast period.
Digital transformation in the marine industry
Ship operators are increasingly focusing on optimizing costs, delivering better services, and boosting revenues via digital transformation. Shipping companies are introducing automation and digital techniques to streamline business processing and customer handling processes to enhance their market share. Connected ship solutions generate a substantial amount of data, and the use of several risk-averting models and predictive mechanisms on the data can lead to enhanced business productivity. Thus, the digital transformation in the marine industry will drive the demand for connected ship solutions.
For the detailed list of factors that will drive the global connected ship solutions market during the forecast period 2019-2023, view our report.
With the presence of several major players, the global connected ship solutions market is fragmented. Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading connected ship solutions manufacturers, that include ABB Ltd., Emerson Electric Co., General Electric Co., Northrop Grumman Corp., Siemens AG.
Also, the connected ship solutions market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
TABLE OF CONTENTS
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- 2.1 Preface
- 2.2 Preface
- 2.3 Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2018
- Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY SHIP TYPE
- Market segmentation by ship type
- Comparison by ship type
- Commercial - Market size and forecast 2018-2023
- Defense - Market size and forecast 2018-2023
- Market opportunity by ship type
PART 07: MARKET SEGMENTATION BY INSTALLATION TYPE
- Market segmentation by installation type
PART 08: CUSTOMER LANDSCAPE
PART 09: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- Europe - Market size and forecast 2018-2023
- APAC - Market size and forecast 2018-2023
- North America - Market size and forecast 2018-2023
- MEA - Market size and forecast 2018-2023
- South America - Market size and forecast 2018-2023
- Key leading countries
- Market opportunity
PART 10: DECISION FRAMEWORK
PART 11: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 12: MARKET TRENDS
- Increasing number of applications of analytics in maritime information
- Increasing emergence of autonomous cabs and parcel delivery fleets
- Emerging use of satellite imagery
- Growing demand for eco-friendly ship
PART 13: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 14: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- ABB Ltd.
- Emerson Electric Co.
- General Electric Co.
- Northrop Grumman Corp.
- Siemens AG
PART 15: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 16: EXPLORE TECHNAVIO