Increase in the adoption of disruptive technologies by commercial and defense shipyards is driving digital shipyard market growth The size of the digital shipyard market is projected to grow from USD 693 million in 2020 to USD 3,967 million by 2030, at a CAGR of 19.1% from 2020 to 2030. An increase in the adoption of disruptive technologies as well as the modernization & procurement plans of various commercial and defense shipyards are the major factors expected to drive the market in the coming years.
Based on shipyard type, the commercial segment is expected to witness the highest growth during the forecast period Based on shipyard type, the commercial segment is expected to witness the highest CAGR during the forecast period by 2030 due to increasing maritime trade, which has resulted in a rise in the demand for commercial ships and growth of the digital shipyard market. Navantia (Spain) partnered with Siemens (Germany) for digitalized shipbuilding solutions, which is a cloud-based platform that covers the whole lifecycle process of the vessel, from its initial conception and simulation until the final phase and maintenance phase of the ship.
Based on process, the manufacturing & planning segment is projected to hold a larger share in the digital shipyard market over the forecast period The process segment is expected to hold a larger share compared to other segments in the digital shipyard market. The use of disruptive technologies in various processes of the shipyard industry has enabled these processes to be more aligned, interdependent, and of high value to achieve sustainable growth.
Asia Pacific is estimated to account for the largest share of the market in 2020 Asia Pacific is projected to be the largest regional digital shipyard market.The region has witnessed rapid economic development over the years, resulting in an increase in maritime trade.
The demand for advancements in processes, quick delivery, reduced cost, high regulation standards, etc. is expected to grow more in the forecast period and is thus leading to the growth of the digital shipyard market in emerging economies such as India and China. Due to the increasing awareness of the significance of the intelligent technologies in the marine sector, demand for digital shipyards is expected to grow at a rapid pace during the forecast period, which offers potential for growth to digital technology providers and system integrators in this region. The break-up of profiles of primary participants in the digital shipyard market: By Company Type: Tier 1 – 62%, Tier 2 – 23%, and Tier 3 – 15% By Designation: C-Level Executives – 35%, Directors – 25%, and Others – 40% By Region: North America – 42%, Europe – 29%, Asia Pacific – 18%, Rest of the World – 11% Key players in the digital shipyard market are Siemens (Germany), Dassault Systemes (France), AVEVA Group Plc (UK), Accenture (Ireland), SAP (Germany), BAE Systems (UK), Hexagon (Sweden), Altair Engineering, Inc. (US), Wartsila (Finland), Inmarsat Plc (UK), IFS AB (Sweden), Pemamek Ltd. (Finland), Aras (US), Kreyon Systems Pvt. Ltd. (India), SSI (Canada), Kuka AG (Germany), Ibaset (US), Prostep AG (Germany), Kranendonk Smart Robotics (Netherlands), and Damen Shipyards Group (Netherlands). Research Coverage: The study covers the digital shipyard market across various segments.It aims at estimating the market size and the growth potential of this market across segments such as shipyard type, technology, capacity, process, digitalization level, end use, and region.
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.Reasons to buy this report: This report will help market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall digital shipyard market and its subsegments.
The report covers the entire ecosystem of digital shipyards in the shipbuilding and repair industry and will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. It will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, challenges, restraints, and opportunities.
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