The integrated bridge system global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Integrated Bridge System Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The integrated bridge system market size has grown strongly in recent years. It will grow from <b>$7.37 billion in 2023 to $7.75 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. </b> The growth in the historic period can be attributed to maritime safety regulations, increased global trade activities, focus on crew training and workload reduction, demand for fuel efficiency, navigation safety awareness, globalization of shipping industry.
The integrated bridge system market size is expected to see steady growth in the next few years. It will grow to <b>$9.42 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. </b> The growth in the forecast period can be attributed to increasing vessel traffic in ports, shift toward autonomous shipping, increased emphasis on environmental compliance, expansion of cruise and passenger shipping, rising demand for offshore support vessels, focus on remote monitoring and diagnostics. Major trends in the forecast period include digitalization and connectivity, advanced navigation and maneuvering capabilities, cybersecurity integration, compliance with navigation standards and regulations, human-centered design, upgradation to meet e-navigation requirements, collaborations and partnerships.
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Scope Of Integrated Bridge System Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Integrated Bridge System Market Overview
Market Drivers –
Rising world seaborne trade is anticipated to drive the integrated bridge system market. The seaborne trade refers to the balance that determines the difference between the volumes of loaded and discharged goods. IBS enables the acquisition and management of sensor data for numerous tasks, including passage execution, communication, machinery control, safety and security, and aiding in maritime commerce. For instance, in 2021, according to the UN Conference on Trade and Development (UNCTAD), a Switzerland-based intergovernmental institution created to advance developing countries’ interests in international commerce, maritime trade is anticipated to grow at an annual rate of 3.4% over the next five years. Therefore, the rising world seaborne trade is driving the growth of the integrated bridge system market.
Market Trends –
Technological advancement is a key trend in the integrated bridge systems market. Major companies operating in the integrated bridge system market is concentrating on creating new product solutions to improve their position. For instance, in May 2022, China Railway Hi-tech Industry Corporation, a China-based manufacturer of construction equipment, launched intelligent pile-beam integrated bridge-building machines based on several construction technologies. This is the first intelligent pile-beam integrated bridge-building machine developed in the world based on the BeiDou positioning system that improves efficiency by more than three times, reduces the construction costs incurred by erection and demolition, reduces construction dust and noise, and avoids damage to the environment in nature compared to traditional single-span bridge construction.
The integrated bridge system market covered in this report is segmented –
1) By Component: Hardware, Software
2) By Ship Type: Commercial, Defense
3) By Subsystem: Integrated Navigation System, Voyage Data Recorder, Automatic Weather Observation System, Automatic Identification System, Other Subsystems
4) By Application: Vessels, Megayachts, Tankers, Container Ships, Cruise Ships, Naval Surface Ships
5) By End-User: OEM, Aftermarket
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Regional Insights –
Asia-Pacific was the largest region in the integrated bridge system market in 2023. The regions covered in the integrated bridge system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the integrated bridge system market report are Sperry Marine Northrop Grumman, Praxis Automation Technology B.V., Admarel BV, Hensoldt UK, Prime Mover Controls Inc., OSI Maritime Systems, Wartsila Valmarine AS, Alphatron Marine, Consilium Marine & Safety Ab, Danelec Marine A/S, Furuno Electric Co Ltd., Norwegian Electric Systems As, GEM elettronica, L3 Mapps Inc., Mackay Communications Inc., Marine Technologies LLC, Alfa Laval Corporate AB, Atlas Elektronik GmbH, BAE Systems plc, Elcome International LLC, Emerson Electric Co., Fincantieri S.p.A., Garmin Ltd., General Dynamics Corporation, Hatteland Display AS, Honeywell International Inc., Hyundai Heavy Industries Co. Ltd., Japan Radio Co. Ltd., Kelvin Hughes Limited, Leonardo S.p.A., Lilaas AS, Mitsubishi Electric Corporation, Navico Holding AS, Raytheon Technologies Corporation, Rolls-Royce Holdings plc, Saab AB
Table of Contents
1. Executive Summary
2. Integrated Bridge System Market characterstics
3. Integrated Bridge System Market Trends And Strategies
4. Integrated Bridge System Market – Macro Economic Scenario
5. Global Integrated Bridge System Market Size And Growth
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31. Global Integrated Bridge System Market Competitive Benchmarking
32. Global Integrated Bridge System Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Integrated Bridge System Market
34. Integrated Bridge System Market Future Outlook and Potential Analysis
35. Appendix
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