November 11, 2019
— Global Marine Engine Monitoring System Market report published by Accurize Market Research forecast that the global market is expected to reach $657 Million by 2025; growing at a CAGR of 3.7% from 2017 to 2025. By geography, the Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
Development in coastal and maritime tourism as well as in international marine freight transport to drive the growth of the market
Development in coastal and maritime tourism as well as in international marine freight transport fuels the demand for the global marine engine monitoring system market. Furthermore, technological innovations in marine propulsion systems and the development of big data analytics also boost the growth of the market.
The global marine engine monitoring system market has been bifurcated 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 the engine type segment, the marine engine monitoring system market has been divided into propulsion and auxiliary.
By geography, the market 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, the Middle East, and Africa.
Top players in the market
The key market players include ABB, AST Group, CMR Group, Caterpillar, Cummin, Emerson, Hyundai Heavy Industries, Jason Marine, Kongsberg, MAN Diesel & Turbo and Mitsubishi Heavy Industries, among others.