Digital Shipyard Market Revenue
Digital Shipyard Market Revenue is projected to reach USD 4,768.33 Million by 2030 and register a CAGR of 20.2% from 2020 to 2030. Increasing international seaborne trade has significantly contributed to the expansion of the digital shipyard market. Furthermore, increasing collaborations between digital shipyard companies to develop innovative solutions for the maritime industry are expected to drive the growth of the market. For example, in May 2019, SAP SE and Accenture entered into an agreement to co-develop a new SAP cloud utility solution to help shipbuilding companies effectively manage business processes and customer experiences.
However, issues related to increased vulnerability to cyber threats and the high cost of acquisition of digital shipyard software solutions might hamper the growth of the market.
Key Players in the Digital Shipyard Market Revenue include: Siemens (Germany), Dassault Systems (France), AVEVA Group plc (UK), Accenture (Ireland), SAP SE (Germany), BAE Systems (UK), Hexagon AB (Sweden), Altair Engineering, Inc. (US), Wartsila (Finland), IBM Corporation
Other Prominent Players: Inmarsat PLC (UK), IFS AB (Sweden), Pemamek Ltd (Finland), Aras Corporation (US), Kreyon Systems Pvt. Ltd (India), KUKA AG (Germany), iBASEt (US), PROSTEP (Germany), KRANENDONK Smart robotics (Netherlands), Damen Shipyards Group (Netherlands), Navantia (Spain)
Technology advancements in the marine industry and increasing investment in connected and autonomous ships are expected to drive the growth of the market.
Growth Opportunities in the Market
Commercial shipyard segment to register the higher growth rate: The commercial shipyard segment is expected to register the higher CAGR during the forecast period, 2020 to 2030. These shipyards differ in terms of ship size complexity, design construction, acquisition process, workforce, client involvement, and business models. An increase in demand for upgradations in shipyards in Asia-Pacific is driving the market for commercial digital shipyards.
Robotic process automation segment is expected to be the fastest growing: The robotic process automation segment is expected to register the highest CAGR during the forecast period. The robotic process automation technology is widely used in the shipbuilding industry for processes such as design engineering and manufacturing planning. The technology is adopted by various system integrators and shipbuilders to reduce the operational time and cost and increase the efficiency and reliability of products and services.
Manufacturing planning segment expected to register the highest CAGR: The manufacturing planning segment is expected to exhibit the highest CAGR during the forecast period. Design engineering is an important phase and plays a vital role in the implementation of the concept of a digital shipyard. The process involves the use of various intelligent technologies, such as additive manufacturing, robotic process automation, cloud computing master data management, and blockchain.
Fully digital shipyard segment dominated the market in 2019: The fully digital shipyard segment dominated the market in 2019 owing to the rapidly growing shipyard industry. Furthermore, the growing demand for implementation of full digital technology is also expected to drive the growth of the segment.
Small shipyards segment dominated the market in 2019: The small shipyards segment dominated the market in 2019 owing to the increasing modernization plans of small-sized shipyards.
Table Of Contents
- Executive Summary
1.1. Market Attractiveness Analysis
1.1.1. Digital Shipyard Market, By Process
1.1.2. Digital Shipyard Market, By Shipyard Type
1.1.3. Digital Shipyard Market, By Capacity
1.1.4. Digital Shipyard Market, By Digitalization Level
1.1.5. Digital Shipyard Market, By Technology
1.1.6. Digital Shipyard Market, By End Use
1.1.7. Digital Shipyard Market, By Region
- Market Introduction
2.1. Market Definition
2.2. Scope Of The Study
2.3. Market Structure
2.4. Key Buying Criteria
2.5. Market Factor Indicator Analysis
- Research Methodology
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Product Model
3.6. List Of Assumptions
- Market Insights
- Market Dynamics
5.2.1. Rise In Adoption Of Digital Twin In Shipbuilding Industry
5.2.2. Rise In International Seaborne Trade
5.2.3. Increasing Procurement Of Advanced Vessels By Navies Across The World
5.2.4. Drivers Impact Analysis
5.3.1. Issues Related To Cyber Threats
5.3.2. High Cost Of Acquisition
5.3.3. Restraints Impact Analysis
5.5. Market/Technological Trends
5.6. Patent Trends
5.7. Regulatory Landscape/Standards
Global Digital Shipyard Market Revenue Research Report: Information by Process (Research Development, Design Engineering, Manufacturing Planning, Maintenance Support and Training Simulation), Shipyard Type (Commercial Shipyards and Military Shipyards), Capacity (Small Shipyards, Medium Shipyards and Large Shipyards), Digitalization Level (Fully Digital Shipyard, Semi Digital Shipyard and Partially Digital Shipyard), Technology (Augmented Virtual Reality (AR VR) – Forecast 2030 @https://www.marketresearchfuture.com/reports/digital-shipyard-market-9632
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