Dublin, June 04, 2020 (GLOBE NEWSWIRE) -- The "Autonomous Ships Global Market Report 2020-30: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.
This report provides the strategists, marketers and senior management with the critical information they need to assess the global autonomous ships market.
This report focuses on the autonomous ships market which is experiencing strong growth. the report gives a guide to the autonomous ships market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
The global autonomous ships market is expected to decline from $6.36 billion in 2019 to $5.77 billion in 2020 at a compound annual growth rate (CAGR) of -9.23%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing and remote working, and the closure of industries and other commercial activities. The entire supply chain from production to international trade has been impacted. The market is then expected to recover and reach $7.28 billion in 2023 at CAGR of 8.05%.
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Where is the largest and fastest growing market for the autonomous ships? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? the Autonomous Ships global market report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. it traces the market's historic and forecast market growth by geography. it places the market within the context of the wider autonomous ships market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. it covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- the trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The autonomous ships market section of the report gives context. it compares the autonomous ships market with other segments of the autonomous ships market by size and growth, historic and forecast. it analyses GDP proportion, expenditure per capita, autonomous ships indicators comparison.
Major players in the autonomous ships market are General Electric, DNV GL, Rolls-Royce Holding PLC, Kongsberg Gruppen AS, NYK Line, Mitsui E&S Holdings Co Ltd, Wrtsil Corporation, DSME Co., Ltd., Vigor Industrial LLC., and Praxis Automation Technology B.V.
The autonomous ships market consists of sales of autonomous ships and related services. The autonomous ship is also known as crewless watercraft piloted by artificial intelligence (AI) without human interference. These ships are unmanned and function autonomously as a type of seafaring drone. Autonomous ships work on artificial intelligence technology and sensors which include LIDAR, RADAR, high definition cameras, sonar, and thermal imaging. The various levels of autonomous operations comprise of fully manned to partially operated, partially autonomous, remotely operated, and fully autonomous ships.
Europe was the largest region in the autonomous ships market in 2019. Asia Pacific is expected to be the fastest growing region in the forecast period.
In May 2018, Wrtsil Corporation, the technology group announced the acquisition of Transas, a UK-based firm for an amount of $ 257.8 million. This acquisition is a part of Wrtsil Corporation's attempt to expand the company's smart marine ecosystem vision. The smart marine ecosystem is a vision where smart vessels connect with smart ports in order to improve the operational efficiency and use of resources to reduce risk and impact on the environment by enhancing security and safety. Transas was founded in 1990 and is a provider of ship & fleet operation solutions which includes access to information for real-time information, digital data and electronic chart services, and bridge infrastructure.
The autonomous ships market covered in this report is segmented by autonomy into fully autonomous; remote operations; partial autonomous and by end-user into commercial; defense.
The increasing threat of cybersecurity and privacy violation is expected to limit the growth of the autonomous ships market during the forecast period. The advancements in technology and adoption of artificial intelligence (AI), mobility systems, and the internet of things (IoT) are creating higher chances of cybersecurity and data threats which is a major challenge for the autonomous ship industry. According to the Association for Computing Machinery (ACM)'s journal published in 2017, cybersecurity is a serious issue for autonomous ships, regardless of the form and level of autonomy of the ship, owing to their increased dependence on ICT for controlling the ship, accessibility of systems to the internet, and increased connectivity of ship's control system to onshore monitoring systems. Thus, the rising threat for cybersecurity and privacy is predicted to act as a major factor restraining the autonomous ship's market over the forthcoming years.
Major companies are undertaking various strategic initiatives such as the development of fully autonomous ships, which is likely to be a major trend driving the growth of the autonomous ships industry. For instance, according to Offshore Energy news published in December 2018, Rolls Royce, a technology company, and Finferries, a state-owned ferry operator demonstrated the world's first fully autonomous ferry in the archipelago south of the city of Turku, Finland. It used a combination of Rolls Royce ship intelligence technology in order to navigate autonomously during its journey between Paraninen and Nauvo. The development of fully autonomous ships is a major trend that is anticipated to provide growth opportunities to the market.
Increasing marine accidents caused by human errors lead to high financial losses which are predicted to act as a major driver for the growth of the autonomous ships market. Unmanned ships or autonomous technology apprehend accidents attributing to human errors and contributes to the higher potential of reducing onboard accidents. According to the International Institute of Marine Surveying report published in November 2019, human error represents 58% of accidental events and 70% of accidents had shipboard operations as a major cause for accidents. Therefore, the use of autonomous ships in order to reduce the increasing number of accidents due to human error and financial losses is expected to drive the demand for autonomous ships over the next coming years.
Key Topics Covered:
1. Executive Summary
2. Autonomous Ships Market Characteristics
3. Autonomous Ships Market Size And Growth
3.1. Global Autonomous Ships Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Autonomous Ships Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Autonomous Ships Market Segmentation
4.1. Global Autonomous Ships Market, Segmentation By Autonomy, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.2. Global Autonomous Ships Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5. Autonomous Ships Market Regional And Country Analysis
5.1. Global Autonomous Ships Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Autonomous Ships Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
6. Asia-Pacific Autonomous Ships Market
7. China Autonomous Ships Market
8. India Autonomous Ships Market
9. Japan Autonomous Ships Market
10. Australia Autonomous Ships Market
11. Indonesia Autonomous Ships Market
12. South Korea Autonomous Ships Market
13. Western Europe Autonomous Ships Market
14. UK Autonomous Ships Market
15. Germany Autonomous Ships Market
16. France Autonomous Ships Market
17. Eastern Europe Autonomous Ships Market
18. Russia Autonomous Ships Market
19. North America Autonomous Ships Market
20. USA Autonomous Ships Market
21. South America Autonomous Ships Market
22. Brazil Autonomous Ships Market
23. Middle East Autonomous Ships Market
24. Africa Autonomous Ships Market
25. Autonomous Ships Market Competitive Landscape And Company Profiles
25.1. Autonomous Ships Market Competitive Landscape
25.2. Autonomous Ships Market Company Profiles
26. Key Mergers And Acquisitions In The Autonomous Ships Market
27. Autonomous Ships Market Trends And Strategies
28. Autonomous Ships Market Future Outlook and Potential Analysis
29. Appendix
29.1. Abbreviations
29.2. Currencies
29.3. Research Inquiries
29.4. About the Publisher
29.5. Copyright And Disclaimer
Companies Mentioned
- General Electric
- DNV GL
- Rolls-Royce Holding PLC
- Kongsberg Gruppen AS
- NYK Line
- Mitsui E&S Holdings Co Ltd
- Wrtsil Corporation
- DSME Co., Ltd.
- Vigor Industrial LLC.
- Praxis Automation Technology B.V.
- Valmet Corp
- Automated Ships Ltd.
- ASV Global
- Rh Marine
- L3 ASV
- Siemens
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