The global marine engine monitoring system market research report by Technavio predicts the market to post a CAGR of more than 3% during the period 2019-2023.
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Technavio has released a new market research report on the global marine engine monitoring system market for the period 2019-2023. (Graphic: Business Wire)
The trend of defense globalization has been driving many countries to concentrate on sea-based defense and maritime security surrounding global trade and local economic resources. During the forecast period, the growth of the naval market in developed countries and emerging economies are expected to be balanced and sustainable. This will assist in fostering the demand for marine engines and will drive the market for its monitoring systems.
As per Technavio, the inception of smart marine engine monitoring systems will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global marine engine monitoring system market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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Global marine engine monitoring system market: Inception of smart marine engine monitoring systems
The growing adoption of big data analytics, loT, remote-based monitoring systems, and the inception of smart marine engines are a few of the technological advances in the global shipbuilding industry. The prominent vendors of the marine industry have been increasingly shifting their focus on the development of automation systems for the marine industry owing to the advent of automation technology and digital analytics.
“The microprocessor-based systems, which are being used in the marine industry combine power management and integrated alarm and control monitoring technology and are based on an Ethernet network loop architecture. This assists the system to act as propulsion and auxiliary engine controller and a supervisory system that communicates with other onboard systems,” says a senior research analyst at Technavio.
Global marine engine monitoring system market: Segmentation analysis
This marine engine monitoring system market analysis report segments the market by application (propulsion and auxiliary) and geography (the Americas, APAC, and EMEA).
The propulsion segment held the largest marine engine monitoring system market share in 2018, accounting for nearly 74% of the market. This application segment is expected to dominate the global market throughout the forecast period.
The APAC region led the market in 2018 with more than 79% of the market share, followed by EMEA and the Americas, respectively. The APAC region is expected to dominate the market throughout the period 2019-2023.
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Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
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Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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