Digital Shipyard Market
Digital Shipyard Market is projected to reach USD 4,768.33 Million by 2030 and register a CAGR of 20.2% from 2020 to 2030. Digital Shipyard refers to adopting the automation capacities involved in maintaining, designing, and building the submarines and ships at the aqua level. The mechanism of this method is used to maintain and monitor the infrastructures and industries associated with it. The major target of the mechanism is to target attention to the automation process related to all the steps in the shipbuilding process. The automation capacities majorly help save much time consumed in the shipbuilding process. Over the years, there have been multiple initiatives being taken by firms to make sure of increased productivity and cost-efficiency in the market. This has led to targeting a higher audience.
The Digital Shipyard Market Share was estimated and predicted to stand at a global market value of $643 million in 2020 and is expected to reach an estimated value of $2514 million by 2028. A healthy growth is expected for the market during the forecast period with a fixed CAGR of 18.57%. Also, there has been significant growth in the market in the initial years, considering the factors that are driving the market. There has been a significant increase in industrialization worldwide that has increased the demand for the trading across the seas. It is well known that the water transportation method is pretty low regarding budget management and is also highly effective. Apart from that, the ever-increasing global concerns to set a footprint on the shipping industry has driven the Digital Shipyard Market. The consumer numbers are also likely to increase due to an increase in the trade and tourism departments.
However, the initial setup cost has been a major restraining factor in the Digital Shipyard Market. The national and international restrictions on the dockyard were being shut down post-pandemic, which stopped the efficiency of the market.
Digital Shipyard Market Trends players 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)
The Digital Shipyard Market is segmented into five factors, i.e., the process, shipyard type, capacity, digitalization, and technology.
The market is divided into design and engineering, training and simulation, and manufacturing and planning, depending upon the process. The market is again divided into commercial and military shipyards depending upon the types of shipyards. By capacity, the market is segmented into small, large, and medium capacity. Depending upon the digitalization segmentation, the market is again segmented into fully, partially, and semi-digital shipyards. The market is finally segmented into AI and Big Data Analytics, additive manufacturing, Robotic Process Automation, and cyber security and block-chain depending upon the technology.
Marine tourism in countries like the UK, the US, and developing countries like India has increased the requirement for shipyards. This means that the Digital Shipyard Market is globally spread over the areas of the North America parts of Asia-Pacific like China, Japan, and Europe.
The Digital Shipyard Market was estimated and predicted to stand at a global market value of $643 million in 2020 and is expected to reach an estimated value of $2514 million by 2028. SAP SE and Accenture are the major key players in the industry.
Global Digital Shipyard Market 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
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