Digital Shipyard Market to Grow by More than 20% CAGR
The digital shipyard market is projected to grow from US$ 715 Mn in 2020 to US$ 4120 Mn by 2031, at an expected CAGR of 21.1% during the forecast period 2021-2031. The term digital shipyard is applied to industry 4.o adoption. The technology is used for Industry 4.0 capabilities in building, designing, maintaining submarines and ships.
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It is also used to monitor and maintain the associated infrastructure. The Industry 4.0 capabilities of Internet of Things (IoT) and “Cyber-Physical Systems” are utilized by digital shipyards to evolve shipyards for the modern era. CPS deploys sensors and monitoring systems to communicate enormous quantities of data to an IoT device.
An enhanced capacity for planning and predicting future maintenance are provided by CPS. There is an increase in focus on procurement plans and modernization across navies are major factors driving the growth of digital shipyard globally.
Key Players:
The report has profiled some of the Important players prevalent in the global like – Siemens, Dassault Systems, AVEVA Group Plc, Accenture, SAP, BAE Systems, Hexagon, Altair Engineering Inc., Wartsila, Inmarsat Plc, IFS AB, Pemamek Ltd., Aras, Kreyon Systems Pvt. Ltd., SSI, Kuka AG, Ibaset, Prostep AG, Kranendonk Smart Robotics, Damen Shipyards Group and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Digital Shipyard.
What is Driving Demand for Digital Shipyard Market?
There is an increase in globalization and industrialization, which is boosting the demand for sea trade. Sea is considered as low cost mode of transportation and highly effective. In the world, there are more than 52,000 merchant ships, around 10,000 bulk carriers, and 7,000 units of crude oil tankers and this number is going to rise in future as there is an increase in sea trade and tourism.
The number of container ships in the world recorded about 4,900 units in 2019. The digital shipyard market during the forecast period is expected to propel due to growth in demand for ships.
The concern about the carbon footprint generated in the shipping industry to lower it is one of the factor, driving the growth of digital shipyard. There is a rise in environmental concerns across the globe, which is also helping the digital shipyard market to grow during forecast period.
There are certain regulations implemented by Governments and international regulatory authorities across the globe to lower the Sox, emission of carbon and NOx in the shipping industry. Such initiatives will further drive the demand of digital shipyard.
What are the Key Trends for Digital Shipyard Market?
A combination of Industry 4.0 technologies are adopted by many major shipbuilders in the commercial and defense sectors to create a digital shipyard for the future. A great advantages in the day-to-day operations of the design and shipbuilding team are delivered by digital shipyard.
Modelling costs, and the time that used to be spent building prototypes are reduced with the help of digital shipyard. Both safety and design efficiency are increased by industry 4.0 technology.
Manufacturing processes and expedite decision making of digital shipyard are improved by combining the communication ability of the IoT with big data and machine learning and using IIoT (Industry Internet of Things). Such trend is going to help digital shipyard market to grow in the forecast period.
The rise of the digital shipyard is contributed by several IIoT and emerging technologies. These technologies are deployed to reduce overall production time, and to improve reliability, the overall quality and safety of the end product in digital shipyard.
Existing 2D designs, but 3D scanning technology are enhanced by using 3D modelling by shipbuilders. Performance simulations across all 3 dimensions are enabled by using 3D modelling for digital shipyard. Such trend of combining emerging technology with digital shipyard will drive the market growth.
Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)
Key Stakeholders
Digital Shipyard Market Manufacturers
Digital Shipyard Market Distributors/Traders/Wholesalers
Digital Shipyard Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
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Major Highlights of the Digital Shipyard Market Report:
- The Digital Shipyard Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.
- The report dives deeper into the market and explains the dynamic factors bolstering market growth.
- The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.
- The report analyzes the Digital Shipyard Market presence across major regions of the world.
- It determines the production & consumption capacities and demand & supply dynamics of each regional market.
- The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.
- It provides company overview and SWOT analysis of each of the market players.
Key Questions Answered in This Report.
- What will the Market growth rate in Future?
- What are the key factors driving the global Market?
- Who are the key manufacturers in Market space?
- What are the opportunities and threats faced by the vendors in the global industry?
- What are sales, revenue, and price analysis by regions of industry?
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