According to Market Research Future (MRFR), the global market for autonomous ships is expected to acquire a significant market value while expanding at a CAGR of 7% during the review period from 2019 to 2030.
The autonomous ships industry is projected to be primarily driven by the increasing demand for cargo transportation through machines. Rising marine accidents caused due to human errors are likely to grow the need for an efficient device that is likely to favor the trade progress during the assessment period. The surging requirement to curb the environmental footprint of maritime traffic is predicted to be another salient cause, which can augment the industry in the coming period. Furthermore, on-going innovations in autonomous ships are anticipated to bolster the market in the assessment period.
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On the other hand, cybersecurity threats are expected to hinder market growth in the forecast period. However, the lack of sailors and the growing adoption of information and communication technology are likely to counter the hampering cause that can boost the autonomous ships market.
Some of the renowned players in the global Autonomous Ships Market for are General Electric (US), Honeywell International, Inc. (US), ABB (Switzerland), Kongsberg Group (Norway), Hyundai Heavy Industries Co., Ltd (South Korea), ULSTEIN Group ASA (Norway), Rolls-Royce (UK)
The autonomous ships market segmentation is done by solution, fit, ship type, and autonomy.
The solution-based segments of the global market for autonomous ships market are systems, software, and solutions. Among all, the systems augment is anticipated to dominate the market during the forecast period.
The fit-based segments of the global for Autonomous Ships Market are line fit and retrofit. The line-fit segment is expected to dominate the market in the forecast period.
As per the autonomous ships market analysis performed by MRFR, the market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
APAC is likely to dominate the global market during the review period due to rapid economic development resulting in a rise in maritime trade. The increasing demand for ships for the transportation of manufactured goods worldwide. Among all countries, South Korea, China, and Japan are expected to make the most significant contribution in developing the regional market. Furthermore, a rise in budgets of shipping companies for the incorporation of ICT in vessels is another crucial factor that can grow the market in the coming period.
Europe is anticipated to be the fastest-growing region owing to the growing demand for cruise ships and autonomous ships. The increasing adoption of autonomous systems and components in ships is likely to strengthen the regional market during the review period. Furthermore, technological development in the vessel is predicted to grow the regional market.
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