PUNE, India, May 8, 2018 /PRNewswire/ --
The report "Marine Engine Monitoring System Market by Engine Type (Propulsion Engine, Auxiliary Engine), End Use (OEM, Aftermarket), Component (Hardware, Software), Ship Type (Commercial, Naval), Deployment (On-Board, Remote), and Region - Global Forecast to 2025", published by MarketsandMarkets, the market is estimated to be USD 508.4 Million in 2018 and is projected to reach USD 656.5 Million by 2025, at a CAGR of 3.72% from 2018 to 2025. The growth in international seaborne trade, increased demand for marine engine monitoring systems from the new shipbuilding & repair market, and a rise in maritime tourism are the key factors that are anticipated to drive the marine engine monitoring system market.
(Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg )
Browse 97 market data Tables and 48 Figures spread through 171 Pages and in-depth TOC on "Marine Engine Monitoring System Market - Global Forecast to 2025"
https://www.marketsandmarkets.com/Market-Reports/marine-engine-monitoring-system-market-8035652.html
Early buyers will receive 10% customization on this report
Based on component, the software segment is projected to grow at the highest CAGR during the forecast period.
Based on component, the software segment of the marine engine monitoring system market is projected to grow at the highest CAGR from 2018 to 2025 The growth of the software segment can be attributed to its advantages that include data analysis process and trend analysis. Technologies such as predictive maintenance, dig data analysis, and IoT will add more comprehensive software analysis, which would be adopted in marine engines during the forecast period.
Based on ship type, the commercial segment is estimated to lead the marine engine monitoring system market in 2018.
Based on ship type, the commercial segment is estimated to lead the marine engine monitoring system market in 2018 and the naval ships segment of the marine engine monitoring system market is projected to grow at the highest CAGR from 2018 to 2025. The demand for merchant ships to transport commodities worldwide is driving the growth of the commercial ships segment. According to the International Chamber of Shipping (ICS), there are over 50,000 merchant ships that transport cargo internationally. The growth of the naval ships segment can be attributed to the increasing investments in the defense sector in North America and Europe.
Ask for PDF Brochure :https://www.marketsandmarkets.com/pdfdownload.asp?id=8035652
Based on engine type, the auxiliary engine segment is expected to witness the highest growth during the forecast period.
Based on engine type, the auxiliary segment of the marine engine monitoring system market is projected to grow at the highest CAGR during the forecast period. The growth of the auxiliary engine segment is primarily driven by the increase in the deliveries of cruise boats, recreational ships, and passenger ships, which require auxiliary engines for electricity generation and power management.
Based on deployment, the remote monitoring segment is expected to witness the highest growth during the forecast period
Based on deployment, the remote monitoring segment of the marine engine monitoring system market is projected to grow at the highest CAGR during the forecast period. The increasing demand for real-time data sharing through IoT sensors is expected to drive the growth of the remote monitoring segment of the marine engine monitoring system market.
The marine engine monitoring system market in Europe is expected to witness the highest growth during the forecast period.
The marine engine monitoring system market in Europe is projected to grow at the highest CAGR from 2018 to 2025 The European shipbuilding industry is involved in the construction of complex naval vessels, such as cruise ships, ferries, mega yachts, submarines, and dredgers (offshore vessels). Moreover, the marine monitoring system industry in Europe offers a wide range of products that include propulsion systems, diesel engines monitoring system, environmental safety systems, cargo handling systems, and related electronics.
Major companies profiled in the marine engine monitoring system market report include ABB (Switzerland), AST Group (UK), CMR Group (France), Caterpillar (US), Cummins (US), Emerson (US), Hyundai Heavy Industries (South Korea), Jason Marine (Singapore), Kongsberg (Norway), MAN Diesel & Turbo (Germany), Mitsubishi Heavy Industries (Japan), NORIS Group (Germany), Rolls Royce (UK), and Wartsila (Finland), among others.
Know more about the Marine Engine Monitoring System Market:
https://www.marketsandmarkets.com/Market-Reports/marine-engine-monitoring-system-market-8035652.html
About MarketsandMarkets
MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Salgarkar
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Blog: http://mnmblog.org/market-research/aerospace-defence
Connect with us on LinkedIn: http://www.linkedin.com/company/marketsandmarkets
