Digital Shipyard Market to Surpass 5.5 Billion by 2030 Drives Due to the Rising Demand for Efficient and Advanced Vessels
SkyQuest projects that the digital shipyard market will attain a USD 5.5 billion value by 2030, with a CAGR of 19.1% over the forecast period (2023-2030). The global digital shipyard market is poised to experience substantial growth in the forecast period, primarily driven by the escalating international seaborne trade. The demand for efficient and advanced vessels has significantly increased with the continuous expansion of global business.
Westford, USA, June 28, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, the digital shipyard market is witnessing significant growth owing to several factors. Firstly, the rising use of cloud-based maintenance systems has gained momentum as sea trade expands. Shipyards are increasingly adopting cloud-based systems to streamline maintenance processes, enhance operational efficiency, and ensure the smooth functioning of vessels.
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Browse in-depth TOC on “Digital Shipyard Market.”
- Pages – 242
- Tables – 120
- Figures –77
A digital shipyard, also known as a dockyard, serves as a facility where ship construction and repair occur. In recent years, shipbuilding companies have increasingly prioritized the automation process to streamline and expedite ship construction. Implementing automation processes in shipbuilding has proven advantageous by reducing the time required for ship production.
Prominent Players in Digital Shipyard Market
- Siemens AG
- Dassault Systèmes
- ABB Ltd.
- ShipConstructor Software Inc.
- Aveva Group plc
- BAE Systems plc
- DNV GL AS
- Honeywell International Inc.
- Kongsberg Gruppen ASA
- Accenture plc
- Bosch Rexroth AG
- General Electric Company
- Wartsila Corporation
- AVEVA Group plc
- Schneider Electric SE
- SKF AB
- PTC Inc.
- Rolls-Royce plc
- Altair Engineering Inc.
- Progenitive Technologies Inc.
Commercial Segment is Expected to Grow the Market Due to the Expanding International Seaborne Trade
The commercial segment is dominant in the global digital shipyard market and is projected to exhibit the highest growth rate throughout the forecast period. This growth can be attributed to the expanding international seaborne trade, pivotal in driving demand within the commercial digital shipping industry. According to the United Nations Conference on Trade and Development (UNCTAD), nearly 80% of global trade is conducted via sea routes.
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The market in North America is poised to experience significant growth in the digital shipyard market, driven by increased research and development efforts by key industry players such as Altair Engineering Inc. and other prominent companies. The region’s strong focus on technological advancements and innovation in the shipyard industry is fueling the digitalization of shipyards.
Process Segment is Expected to Dominate the Market Due to Adoption of Disruptive Technologies
The process segment is projected to occupy a significant share compared to other elements in the digital shipyard market. This can be attributed to the widespread adoption of disruptive technologies that have revolutionized various processes within the digital shipyard industry. These technologies have facilitated greater alignment, interdependence, and increased value in achieving sustainable growth.
Regional markets in Asia are poised to emerge as the most significant digital shipyard market. This projection is primarily driven by the rapid economic development witnessed in the region, leading to a substantial increase in maritime trade activities. There is a growing demand for advancements in shipyard processes to ensure quick delivery, cost reduction, adherence to high regulatory standards, and overall operational excellence as countries in the Asia Pacific continue to expand their presence in global trade.
A comprehensive analysis of the major players in the digital shipyard market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in the Digital Shipyard Market
- Drydocks World embarked on a digital transformation project aimed at enhancing operational efficiency. The company recently announced its plans to leverage IFS Cloud for asset management and resource planning, optimizing its systems and paving the way for a digital shipyard transition. This initiative reflects Drydocks World’s commitment to embracing cutting-edge technologies to streamline processes and drive operational excellence.
- Damen Shipyard Group and Sea Machines Robotics recently entered into a collaborative agreement to explore adopting collision avoidance functionality on Damen ships. This partnership aligns with Damen’s strategic focus on digitalization, sustainability, and operational excellence.
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Key Questions Answered in Digital Shipyard Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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Global Marine Port Services Market
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