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Digital Shipyard Market by Shipyard Type Technology AR VR, Blockchain, Digital Twin, Additive Manufacturing, IIoT

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Digital Shipyard Market by Shipyard Type Technology AR VR, Blockchain, Digital Twin, Additive Manufacturing, IIoT

August 16
15:24 2020

The digital shipyard market report provides an analysis of the market from 2020 to 2030. It discusses industry and technology trends prevailing in the market, along with the drivers, restraints, challenges, and opportunities. 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% during the forecast period. The market in Asia Pacific is expected to witness substantial growth during the forecast period, especially in countries such as South Korea and China, due to the increase in procurement plans and the adoption of disruptive technologies by commercial and military shipyards. Additionally, the need for the modernization of shipyards using advanced technologies and processes to reduce operating costs and cater to demands of the shipbuilding industry is also a significant factor attributed to the growth of the digital shipyard market during the forecast period.

Based on technology, the robotic process automation segment is estimated to lead the digital shipyard market in 2020. Robotic process automation technology is widely used in the shipbuilding industry for processes such as design & engineering and manufacturing & planning. The technology is adopted by various system integrators and shipbuilders in order to reduce the operational time & cost and increase the efficiency and reliability of their products & services.

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Based on process, the manufacturing & planning segment is expected to witness the fastest growth in the digital shipyard market by 2030. Manufacturing & planning is an important phase and plays a vital role in the implementation of the concept of a digital shipyard. The process involves the use of various intelligent technologies such as additive manufacturing, robotic process automation, cloud computing & master data management, and blockchain.

Based on region, the digital shipyard market is segmented into five regions, namely, North America, Europe, Asia Pacific, the Middle East, and Latin America. The market in Asia Pacific is expected to have the largest market share by 2030 due to the increase in the modernization & procurement plans and emphasis on adoption of disruptive technologies for the digital transformation of shipyards in China, South Korea, and India, among others. Due to the increasing awareness of the significance of 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.

 

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