The global digital shipyard market was valued at USD 963.6 million in 2020 and is projected to reach USD 3,444.5 million by 2028, growing at a CAGR of 17.27% during the period from 2021 to 2028. This information is provided by Fortune Business Insights™ in their report titled “Digital Shipyard Market, 2021-2028.” The market is witnessing significant growth due to the increasing demand for modernization in the shipbuilding industry.
Informational Source:
https://www.fortunebusinessinsights.com/digital-shipyard-market-106561
List of Key Players Covered in the Report
- IFS AB (Sweden)
- Pemamek Oy (Finland)
- Dassault Systemes (France)
- BAE Systems (U.K.)
- Altair Engineering, Inc. (U.S.)
- AVEVA Group Plc (U.K.)
- Wartsila (Finland)
- KUKA AG (Germany)
- Damen Shipyards Group (Netherlands)
- Prostep AG (Germany)
Digital shipyards leverage advanced technologies such as digital twin, artificial intelligence, robotics, and automation to optimize production processes and improve the efficiency of shipbuilding operations. They offer various benefits, including reduced production time and costs, improved quality and safety, and increased flexibility and customization. The market is expected to continue growing as the shipbuilding industry seeks more efficient and cost-effective solutions, and as advanced digital technologies continue to develop. Additionally, there is a growing focus on sustainability in the shipping industry, and digital shipyards can help reduce the environmental impact of shipbuilding operations.
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments –Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights-Impact of COVID-19 Pandemic on Global Digital Shipyard Market
- Impact of COVID-19 Pandemic on the Global Digital Shipyard Market
- Steps Taken by the Industry/Companies/Government to Overcome the Impact
- Key Development in the Industry in Response to COVID-19 Impact
The adoption of Industrial Internet of Things (IIoT) in the shipbuilding industry is a driving factor for the growth of the digital shipyard market. IIoT enables better decision-making by integrating IoT communication capabilities with machine learning and big data analytics. It helps to enhance production, reduce downtime, and improve operational efficiency in shipyards.
The report provides a detailed table of contents, including an introduction, research scope, market segmentation, research methodology, executive summary, market dynamics, key insights, segmentation analysis, regional insights, and competitive landscape. It also discusses the impact of the COVID-19 pandemic on the global digital shipyard market and the steps taken by the industry, companies, and governments to overcome the impact.
Overall, the digital shipyard market is experiencing significant growth due to the increasing adoption of digital technologies in the shipbuilding industry. The market is expected to continue expanding in the coming years, driven by the demand for more efficient and sustainable shipbuilding solutions.
Report Coverage
The report presents insightful visions gained by methodical study done by our researchers. A wide-ranging research was directed to deliver the assessed size of the digital shipyard market. The data utilized to project the shares for multiple segments at the country, regional, and global levels are attained from methodical interviews with various stakeholders. Furthermore, we have attained admittance to numerous global and regional paid databases to deliver accurate information to make business investment choices effortless for you.
Driving Factors
Augmented Utilization of Industrial Internet of Things (IIoT) in Shipbuilding Industry to Spur Growth
The digital shipyard utilizes the IIoT to refine its decision-making competencies for manufacturing courses by amalgamating the communication proficiencies of the IoT with machine learning and big data. Furthermore, the increasing usage of IIoT in the shipbuilding industry to amplify production, decline downtime, and augment operational effectiveness, is projected to fuel the digital shipyard market growth.
Segmentation
On the basis of shipyard type, the market is segregated into commercial and military.
In terms of technology platform, the market is categorized into robotic process automation, additive manufacturing, artificial intelligence and big data analytics, digital twin, blockchain, industrial Internet of Things (IIOT), and others. The robotic process automation segment is predicted to lead the market in 2020 owing to the surging demand for automation of numerous ship manufacturing methods such as welding, cutting, painting, and others.
In regards of digitalization Level, the market is classified into semi digital shipyard and fully-digital shipyard.
The global market is branched into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Regional Insights
Asia Pacific Held Maximum Shares Stoked by
Asia Pacific is estimated to hold the highest digital shipyard market share with size of USD 323.3 million in 2020 and is anticipated to grow at a higher compound annual growth rate through the projection period.
The digital shipyard market in Europe will expand rapidly led by the increasing investments by European shipbuilders towards the adoption of automated robotic technology in shipbuilding.
North America segment is expected to increase owing to the growing research and development activities by the prime players such as Altair Engineering Inc. and others for digitalization of shipyards.
Competitive Landscape
Groundbreaking Product Launch Declarations by Prime Players to Bolster Market Growth
The fundamental players implement numerous tactics to spur their position in the market as leading companies. One such prime strategy is procuring companies to foster the brand value among users. Another effective tactic is intermittently launching groundbreaking products with a methodical study of the market and its target audience.
Industry Development
June 2021: Drydocks World unveiled a project of digital transformation to augment effective yield. The company declared to use IFS Cloud for asset management and resource planning, refining its systems and arranging the foundation for a digital shipyard transition.
