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Marine Electronics Market Determine to Grow at 6.5% CAGR During 2018-2028 - Future Market Insights

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Future Market Insights

02 Jul, 2018, 13:30 BST

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VALLEY COTTAGE, New York, July 2, 2018 /PRNewswire/ --

Marine electronics comprises electronic devices designed for the marine environment. Marine electronic devices are water-resistant so that salt water cannot affect or destroy them. Marine electronic devices include marine VHF radios, chart plotters, autopilots, fish finders/sonars, radars, gyrocompasses, GPS, satellite TVs, and various audio and video devices. The marine electronics market is highly dependent on the performance of the ship industry.

     (Logo: https://mma.prnewswire.com/media/677274/Future_Market_Insights_Logo.jpg )

The marine electronics market is divided into four segments on the basis of ship/boat categories. The ships/boats taken into consideration are merchant vessels (general cargo ships, bulk carriers, containerships, and oil tankers), fishing vessels (big vessels that are allowed into the deep sea and used for commercial fishing), yachts/recreational boats (all sailing boats and vessels used for recreational activities), and military naval (all military surface vessels and boats such as surface combatants, patrol combatants, and amphibious warfare ships, and those involved in military logistics and coastal defense).

The global marine electronics market is expected to grow from US$ 4,143.5 Mn in 2018 to US$ 7,745.3 Mn by 2028, expanding at a CAGR of 6.5% in terms of revenue during the forecast period (2018-2028). In this report, the global marine electronics market is tracked in terms of value, and is calibrated to obtain the market revenue estimates of marine electronic devices.

Global Marine Electronics Market: Dynamics 

The factors driving the global marine electronics market are mandatory government regulations, increasing demand from the defense sector, growing concern for safety and security, and increasing globalization and ocean trade activities.

However, insecure mode of data transmission, incompetency of software, and lack of investments and infrastructure are some of the major challenges that hamper the growth of the marine electronics market.

Request a Sample Report with Table of Contents and Figures: https://www.futuremarketinsights.com/reports/sample/rep-gb-2392

Global Marine Electronics Market: Segmentation & Forecast 

To understand and assess the demand and opportunities in this market, the marine electronics market report is categorically split into three major sections, namely, marine electronics market analysis - by component type, by application type, and by region. On the basis of component type, the marine electronics market is segmented into hardware and software. The marine electronics hardware segment is expected to dominate the market throughout the forecast period, and enjoy a market share of 78.4% and 77.0% in 2018 and 2028, respectively. The marine electronics hardware segment is further segmented as GPS and radar systems, multifunction navigation, fish finders/ sonar modules, thermal and visible cameras, marine VHF communication devices, audio and video equipment, marine autopilots, analogue & digital instruments, and satellite TVs.

Preview Analysis On Marine Electronics Market Segmentation By Marine Electronics Component Type (Hardware (GPS and Radar Systems,Multifunction Navigation,Fish Finders/ Sonar Modules,Thermal and Visible Cameras,Marine VHF Communication Devices,Audio and Video Equipment,Marine Autopilots,Analogue & Digital Instruments,Satellite TVs), Software); Marine Electronics Application Type (Merchant Vessels,Fishing Vessels,Military Naval,Yachts/ Recreational Boats): https://www.futuremarketinsights.com/reports/marine-electronics-market

On the basis of application type, the marine electronics market is segmented into merchant vessels, fishing vessels, military naval, and yachts/recreational boats. The marine electronics merchant vessels segment is expected to dominate the market in the majority duration of the forecast period, owing to the high CAGR associated with it. The marine electronics fishing vessel segment is expected to grow from US$ 958.6 Mn in 2018 to US$ 1,900.5 in 2028.

The section - marine electronics market analysis by region, includes an in-depth country-level analysis of all global regions, namely, North America, Latin America, Western Europe, Eastern Europe, SEA and Others in Asia Pacific, Japan, China, and MEA, by component type, by application type, and by country; and provides market data in terms of value for 2018-2028. In 2017, the market in South East Asia dominated the overall global marine electronics market (given Asia Pacific is considered separately as three regions, i.e. China, Japan, and SEA and Others of APAC), while the fastest growing region in the marine electronics market is Latin America. South East Asia is further expected to hold a majority of the market share of the marine electronics market in 2028 as well.

Our advisory services are aimed at helping you with specific, customised insights that are relevant to your specific challenges. Let us know about your challenges and our trusted advisors will connect with you: methodology : https://www.futuremarketinsights.com/askus/rep-gb-2392

More from FMI's Electronics, Semiconductors, and ICT Market Intelligence: 

  • Magnetic Sensor Market Segmentation By Technology - Hall Effect, AMR, GMR, TMR; By Application - Industrial, Automotive, Consumer Electronics, Others : https://www.futuremarketinsights.com/reports/magnetic-sensors-market
  • Supercapacitors Market Segmentation by Type - Electrical Double Layer Capacitors, Pseudo-capacitors, Hybrid Capacitors; By Application - Consumer Electronic Devices, Automobiles, Grid Stabilization, Trains, Locomotive Systems (Cranes and Elevators), Aircraft, Others; By Vertical - Automotive and Transportation, Industrial, Electronics, Energy and Power, Military and Defense, Aerospace and Aviation, Others : https://www.futuremarketinsights.com/reports/supercapacitors-market
  • Parental Control Software Market Segmentation by Deployment - On-premises, Cloud; by Platform - Android, iOS, Windows : https://www.futuremarketinsights.com/reports/parental-control-software-market

About Us 

Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.

Browse More Electronics, Semiconductors, and ICT Market Insights


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