Market Size –
The marine dynamic positioning system market size has grown rapidly in recent years. It will grow from $4.07 billion in 2023 to $4.53 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to increase in global seaborne trade, growth in offshore oil and gas exploration, growing offshore wind energy sector, growth in offshore wind farms, and stringent maritime regulations.
The marine dynamic positioning system market size is expected to see rapid growth in the next few years. It will grow to $7 billion in 2028 at a compound annual growth rate (CAGR) of 11.5%. The growth in the forecast period can be attributed to increase in number of dynamic position ships such as survey and research vessels, growing need for renewable energy, increasing demand for unmanned surface vehicles, rising maritime transportation, and increasing focus on safety. Major trends in the forecast period include advancements in offshore drilling technology, technological developments, autonomous operations, cloud connectivity, and machine learning algorithms.
Order your report now for swift delivery @
https://www.thebusinessresearchcompany.com/report/marine-dynamic-positioning-system-global-market-report
Scope Of Marine Dynamic Positioning 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.
Marine Dynamic Positioning System Market Overview
Market Drivers –
The growth in offshore construction activities is expected to propel the development of the marine dynamic positioning system market going forward. Offshore construction activities refer to the various operations and projects in bodies of water, typically in the ocean, for building, installing, or maintaining structures such as oil platforms, pipelines, bridges, and other marine infrastructure. The growth in offshore construction activities is driven by expanding renewable energy initiatives and technological advancements enabling complex projects in deeper waters. Dynamic positioning (DP) systems provide flexibility in maneuvering vessels and equipment, allowing them to work in various locations and conditions without needing fixed anchor points. They also enable vessels to maintain a safe distance from offshore structures and other vessels, minimizing the potential for collisions or damage. For instance, in August 2023, according to reports published by the Office of Energy Efficiency and Renewable Energy, a US-based government, offshore wind pipelines in 2022 will reach 40,083 megawatts (MW), which is an increase of 13.5% compared to the previous year. Therefore, the growth in offshore construction activities is driving the development of the marine dynamic positioning system market.
Market Trends –
Major companies operating in the IoT fleet management market are focused on developing advanced solutions such as AI-powered fleet management systems, to enhance efficiency, improve safety, and optimize operations for fleet owners. These systems provide advanced functionalities aimed at enhancing fleet operations, increasing efficacy, and cutting costs, rendering them a valuable asset for companies in the process of adopting electric vehicles. For instance, in August 2021, eBikeGo, an India-based electric bike and scooter manufacturer, launched EBG-Matics an AI-driven telematics solution tailored for fleet management, alongside an innovative IoT system integrated with mobility to elevate the effectiveness and intelligence of e-fleets within the electric vehicle realm. The platform provides contemporary vehicle tracking capabilities, including position tracking, speed assessment, and range prediction within vehicle tracking modules.
The marine dynamic positioning system market covered in this report is segmented –
1) By Type: Thruster Systems, Dynamic Positioning (DP) Control Systems, Sensors, Power Systems
2) By Application: Station Keeping, Maneuverability And Navigation, Dynamic Positioning Autonomy
3) By End-User Industry: Oil And Gas, Renewable Energy, Research And Survey
Get an inside scoop of the marine dynamic positioning system market, Request now for Sample Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=14746&type=smp
Regional Insights –
Asia-Pacific was the largest region in the marine dynamic positioning system market in 2023. The regions covered in the marine dynamic positioning system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the marine dynamic positioning system market are General Electric Company, The Volvo Group, General Dynamics Corporation, Siemens Energy AG, ABB Ltd., L3Harris Technologies Inc., Rolls-Royce plc, Wärtsilä Corporation, Kongsberg Gruppen ASA, Japan Radio Company (JRC), Mercury System Inc., Norr Systems Hydraulics Pte. Ltd., RH Marine Corp., Grid Dynamics Holdings Inc., AquaTech India Pvt. Ltd., Thrustmaster of Texas Inc., Master Boat Builders Inc., Praxis Automation Technology B.V., AquaGuard Positioning, C-MAR Group, Navis Engineering Oyj, BlueWave Products Inc., Vision Marine Technologies LLC, Seaquest Marine Resources Private Limited, SeaNav Technologies Pvt. Ltd., Reygar Ltd.
Table of Contents
1. Executive Summary
2. Marine Dynamic Positioning System Market Characteristics
3. Marine Dynamic Positioning System Market Trends And Strategies
4. Marine Dynamic Positioning System Market – Macro Economic Scenario
5. Global Marine Dynamic Positioning System Market Size and Growth
.
.
.
31. Marine Dynamic Positioning System Market Other Major And Innovative Companies
32. Global Marine Dynamic Positioning System Market Competitive Benchmarking
33. Global Marine Dynamic Positioning System Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Marine Dynamic Positioning System Market
35. Marine Dynamic Positioning System Market Future Outlook and Potential Analysis
36.Appendix
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
