The global integrated marine automation system market was valued at USD 3.58 billion in 2021 and is expected to expand from USD 3.84 billion in 2022 to USD 6.33 billion by 2029, reflecting a CAGR of 7.39% during the 2022-2029 period. In 2021, the Asia Pacific region led the market, holding a 33.52% share.

The IMAS market is experiencing significant growth, driven by advancements in automation technologies, the rise of smart shipping practices, and stringent maritime safety regulations. These systems enhance operational efficiency, reduce human error, and ensure compliance with international standards such as SOLAS (Safety of Life at Sea) and MARPOL (Marine Pollution). The growing demand for autonomous ships and real-time data monitoring solutions is fueling the adoption of integrated automation systems in commercial, naval, and offshore vessels.

List of Key Players Profiled in Integrated Marine Automation System Market:

  • ABB (Switzerland)
  • Honeywell International, Inc. (U.S.)
  • Rolls-Royce PLC (U.K.)
  • Wartsila (Finland)
  • Kongsberg (Norway)
  • Siemens (Germany)
  • Hyundai Heavy Industries (South Korea)
  • General Electric (U.S.)
  • Ingeteam (Spain)
  • Emerson Electric Co. (U.S.)

Information Source:

https://www.fortunebusinessinsights.com/integrated-marine-automation-system-market-106580

Segmentation of the Integrated Marine Automation System Market

The integrated marine automation system market is segmented based on component, solution, ship type, and end-user. By component, the market is divided into hardware, software, and services, with hardware including control units, sensors, and displays. Solutions include vessel management systems, power management systems, and safety & security management. The market is further categorized by ship type, encompassing commercial vessels, defense vessels, and unmanned systems. Additionally, end-users range from shipping companies and naval forces to offshore operations. This segmentation helps in understanding market dynamics and addressing specific industry needs.

Report Coverage:

The report provides complete information and factual data regarding market development and current trends in the industry. Furthermore, key advancements and business development strategies such as mergers, acquisitions, alliances, and partnerships are discussed in the report. Also, the impact of COVID-19 pandemic on industrial growth and development is highlighted further. Drivers and restraints affecting the market growth are elaborated along with the latest key developments in the industry.

Drivers & Restraints: Integrated Marine Automation System Market

Rising Investment in Advanced Technologies to Stimulate Growth

The integrated marine automation system market is expected to witness prominent growth during the projected period owing to the increasing demand for digitalizing marine operations. Increased development in a software solution is anticipated to boost the naval, marine, and offshore sectors' product demand. Rising investment into technological advancements and development in shipbuilding and shipping companies will likely bolster market expansion. These factors are likely to ensure integrated marine automation system market growth in the coming years.

However, the increased risk of cyber threats may hinder market growth.

Regional Insights:

Asia Pacific Dominated Market Due to Technological Advancements

Asia Pacific dominates the global integrated marine automation system market share during the forecast period due to major shipbuilding companies in the region. The region stood at USD 1.20 billion in 2021. Technological development in emerging countries is likely to bolster market growth.

Europe is expected to hold the second-largest global market position due to the rising demand for the cruise, ships, and autonomous ships. Also, an ongoing ship modernization program is likely to boost the demand.

Competitive Landscape:

Partnerships Allow Key Players to Expand Business Globally

The key players in market focus on implementing various business developments strategies to expand their market reach. These strategies include forming strategic alliances, partnerships, mergers, or acquiring other companies. Also, implementing innovative product development and differentiation strategy allow companies to propel growth.

Industry Developments: Integrated Marine Automation System Market

  • In October 2021, Höglund secured a contract from Sunrise Reliance LLC to supply an Automation and Fuel Gas Supply System (FGSS) for the retrofitting of a 2,400 TEU container ship. In collaboration with COSCO Shipyard Group, Höglund will deliver an integrated solution, including a Power Management System (PMS), FGSS, Ship Performance Monitor (SPM), and full automation of the new systems on the vessel.
  • In November 2021, MJR Power and Automation received a contract to install its marine automation platform, MAP-OE, on the SMS Roman tugboat.