USD 1.09 billion
Digital Shipyard Market Size, Share, Growth Analysis, By Shipyard Type(Commercial Shipyard, Military Shipyard), By Technology(Cloud Computing, Block Chain, Artificial Intelligence, Big Data Analytics), By Digitalization Level(Partially Digital, Semi Digital, Fully Digital), By Capacity(Small Shipyard, Medium Shipyard, Large Shipyard), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20Y2006 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|Tables:
120
|Figures:
77
Digital Shipyard Market Insights
Digital Shipyard Market size was valued at USD 1.09 billion in 2022 and is poised to grow from USD 1.3 billion in 2023 to USD 5.5 billion by 2031, growing at a CAGR of 19.1% in the forecast period (2024-2031).
The increase in process automation is contributing significantly to the growth of the worldwide digital shipyard industry. Technology is used in digital shipyards to automate and digitalize shipyard operations. For efficient operation, ship builders rely on digital technologies. Enterprise resource planning (ERP), manufacturing execution systems (MES), computer-aided design (CAD), and product lifecycle management (PLM) are among the software and technological services offered by Digital Shipyard. Moreover, by coordinating the information across the entire supply chain, digital shipyards provide affordable & efficient solutions for design & construction. Additionally, shipyard automation and digitalization allow for real-time team cooperation on shipbuilding projects, which is projected to propel the growth of the global digital shipyard market.
US Digital Shipyard Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Commercial Shipyard
Fastest Growth
Commercial Shipyard
Growth Rate
19.1% CAGR
Global Digital Shipyard Market 2022-2028 ($ Bn)
Country Share for Asia-Pacific Region- 2021 (%)
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Digital Shipyard Market Segmental Analysis
The Global Digital Shipyard Market is segmented based on shipyard type, technology, digitalization level, capacity and region. Based on the Shipyard Type, it is categorized into Commercial Shipyard, and Military Shipyard. Based on the Technology, it is categorized into Cloud Computing, Block Chain, Artificial Intelligence, Big Data Analytics, Augmented & Virtual Reality, Robotic Process Automation, and Additive Manufacturing. Based on the Digitalization Level, Digital Shipyard Market is categorized into Partially Digital, Semi Digital and Fully Digital. Based on the Capacity, it is categorized into Small Shipyard, Medium Shipyard and Large Shipyard. Based on region, it is categorized into North America, Europe, Asia Pacific, The Middle East and Africa, and Latin America.
Analysis by Shipyard Type
On the basis of shipyard type, the commercial segment is currently dominating the global digital shipyard market, and it is expected to increase at the highest rate over the forecast period . The expansion of international seaborne trade is responsible for the growth of this segment. According to the United Nations Conference on Traffic and Development (UNCTAD), almost 80% of world trade occurs by sea. As a result, there is a growing need to digitally transform shipyards in order to speed up the production.
On the other hand, due to increased government spending on the creation and adoption of digital twin in defense technologies, the military segment is also projected to expand significantly during the forecast period.
Analysis by Technology
On the basis of technology, the market for robotic process automation in digital shipbuilding is driven by the development in demand for advanced and time-saving solutions. Robot process automation is the use of software robots or AI personnel to automate different business processes. The use of technology allows businesses to control computer software or robots to automate a variety of commercial activities. They are made to execute repetitive jobs, deliver direct profitability, and interact with other business systems in a manner similar to how people do.
Global Digital Shipyard Market By Shipyard Type, 2021 (%)
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Digital Shipyard Market Regional Insights
Based on the region, Asia Pacific is anticipated to have the biggest market share and grow at a higher compound annual growth rate, during the forecast period. The region's prominence in the digital shipbuilding industry is attributable to significant shipbuilders such as Daewoo Shipbuilding, Marine Engineering, and China Shipbuilding Industry Corporation, among others.
A published report claims that China, South Korea, and Japan produce 90% of all cargo ships in the world. As a result, the presence of shipbuilding businesses in the area promotes the digitalization of shipyards.
As European shipbuilders boost their expenditures in automated robotic technology for industrial processes, the market in Europe is also anticipated to grow dramatically.
North America is another region that is predicted to grow significantly, due to increased research and development efforts for the digitalization of shipyards by important businesses like Altair Engineering Inc. and others, over the forecast period.
Global Digital Shipyard Market By Geography, 2022-2028
- Largest
- Fastest
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Digital Shipyard Market Dynamics
Drivers
- Increased use of industrial internet of things (IIoT) in shipbuilding: The digital shipyard uses the IIoT to enhance its decision-making capabilities and manufacturing processes by fusing the IoT's communication capabilities with machine learning and big data. Due to the growing adoption of IIoT in the shipbuilding sector to increase output, reduce downtime, and enhance operational efficiency, the market is predicted to grow significantly over the forecast period.
- Increased use of robot technology in the shipbuilding industry: In order to speed up production and save costs, shipbuilding businesses throughout the world are working on automating industrial processes like cutting, welding, painting, assembly, and others. Welding robots have been used by a number of important companies, including Daewoo Shipbuilding & Marine Engineering, Samsung Heavy Industries, and Hyundai Heavy Industries, to lower ship production costs.
For instance, the Geoje Shipyard of Samsung Heavy Industries Co. Ltd. created a number of robot systems, including inspection robots, wall-climbing robots, spider automatic welding robots, and robots that clean pipes. Since these robots were installed, the Geoje Shipyard has experienced a 68 percent production automation rate.
Restraints
- High working capital requirements for hardware and software: Procurement, accessories, programming, integration, and other tasks are a part of the initial stages of automating a manufacturing facility. For certain businesses, the first, massive capital outlay can be difficult. For small and medium-sized shipbuilders, automation is an expensive investment due to the cost of the industrial system, as well as integration and maintenance expenses. Due to the low production volume and slow return on investment, many small and medium-sized shipbuilders find it difficult to raise significant amounts of money. Additionally, the price of the software is extremely costly, which is expected to limit the growth of the global digital shipyard market.
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Digital Shipyard Market Competitive Landscape
The market players are focusing on automating the manufacturing process. Several businesses are making efforts to incorporate digitization in the shipbuilding industry. Investments in modernizing capacities have increased in order to boost productivity and cut costs. The development of a new SAP cloud utility solution, which will help shipbuilding companies manage customer experiences and business operations effectively, is being done in partnership with players like SAP and Accenture. Market participants are investing in research and development to create cutting-edge robotic technology based on AI, IoT, and augmented reality (AR).
Top Players Company Profiles
- Siemens AG
- Dassault Systèmes
- ABB Ltd.
- ShipConstructor Software Inc.
- Aveva Group plc
- BAE Systems plc
- DNV GL AS
- Honeywell International Inc.
- Kongsberg Gruppen ASA
- Accenture plc
- Bosch Rexroth AG
- General Electric Company
- Wartsila Corporation
- AVEVA Group plc
- Schneider Electric SE
- SKF AB
- PTC Inc.
- Rolls-Royce plc
- Altair Engineering Inc.
- Progenitive Technologies Inc.
Digital Shipyard Market Recent Developments
Digital Shipyard Key Market Trends
- The rising demand for additive manufacturing: The 3D digital model can be printed using additive manufacturing, often known as 3D printing, in a very short amount of time. Recent advancements in 3D printer technology have enabled the fabrication of larger components as well. There are now more materials available for 3D printing than only plastic. Advanced printer systems can also manufacture metal parts utilizing a high-velocity particle fusion process. The use of additive manufacturing in shipyards helps speed up system repairs because broken parts can be printed out and replaced. This is expected to positively affect the digital shipyard market.
Digital Shipyard Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to the analysis, the global digital shipyard market is currently led by countries in the Asia Pacific region, due to the presence of significant shipbuilders in the region, such as Daewoo Shipbuilding, Marine Engineering among others. Along with this, the commercial shipyard segment is currently dominating the global digital shipyard market and it is predicted to continue its dominance due to expansion of international seaborne trade.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.09 billion |
| Market size value in 2031 | USD 5.5 billion |
| Growth Rate | 19.1% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Digital Shipyard Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Digital Shipyard Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Digital Shipyard Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Digital Shipyard Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Digital Shipyard Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Digital Shipyard Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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