Marine Engine Monitoring System Market size is projected to be valued $XX Billion by 2025; with a CAGR of XX% from 2017 to 2025. Marine engine monitoring system provides a streamlined and single way to ships and vessels to monitor several protocols and equipment, check, control and enhance the engine operations of vessels. These systems offer improved operational safety, and mitigate the risk of unexpected repair costs.
Growth in coastal and maritime tourism as well as in international marine freight transport is the major factor driving the marine engine monitoring system market. However, lack of common data standard and stringent environmental regulations affect the market. Owing to the growth in global marine freight transport and increase in naval budgets, the impact of the restraints is expected to remain negligible in the long term. Opportunities anticipated to increase the marine engine monitoring system market includes technological innovations in marine propulsion systems and development of big data analytics.
The marine engine monitoring system market is segmented on the basis of component, engine type, ship type, end user, deployment, and geography. On the basis of ship type, the marine engine monitoring system market has been segmented into naval and commercial ships. On the basis of deployment, the market has been segmented into on-board and remote monitoring. On the basis of end user, the market has been segmented into OEM and aftermarket. Based on the component segment, the marine engine monitoring system market has been divided into hardware and software. Based on engine type segment, the marine engine monitoring system market has been divided into propulsion and auxiliary.
Marine engine monitoring system market by geography is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S. and Canada are countries under North America wherein Europe covers U.K, Germany, France and others. Asia-Pacific covers China, India, Japan, and rest of Asia-Pacific. RoW covers South America, Middle East and Africa.
Major companies operating in the marine engine monitoring system market are ABB, AST Group, CMR Group, Caterpillar, Cummin, Emerson, Hyundai Heavy Industries, Jason Marine, Kongsberg, MAN Diesel & Turbo and Mitsubishi Heavy Industries, among others.
The key takeaways from the report
Scope of Marine Engine Monitoring System Market
Engine Type Segments
Ship Type Segments
End User Segments