Digital Shipyard Market worth $5.5 billion by 2030 – Exclusive Report by MarketsandMarkets™

/EIN News/ -- Chicago, Aug. 15, 2022 (GLOBE NEWSWIRE) -- Digital Shipyard Market is projected to grow from USD 1.3 billion in 2022 to USD 5.5 billion by 2030, at a CAGR of 19.1% during the forecast period, according to a new report by MarketsandMarkets™. The need for shipbuilders to meet reduced lifecycle costs, pursue better investment strategies, streamline the shipbuilding process, and reduce overhead costs have motivated shipbuilders to invest in digital shipyard solutions. This is one of the main factors driving the growth of the market.

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The Medium shipyard Segment is estimated to lead the digital shipyard market in the forecast period

Based on Shipyard type, the medium shipyard segment of the digital shipyard market is accounted for the highest growth during the forecast period. Medium sized shipyards often face challenges in terms of financial resources, scarcity of skilled personnel, limited access to technologies, etc., which impact the overall growth of the industry. However, with the help of Smart Solutions and SmartYard prototypes, companies can characterize the design, production, and delivery processes of the digital shipyard. These innovative solutions and technologies ensure complex data consistency, reduce errors, increase reproducibility, and enhance quality.

The manufacturing & planning segment is expected to have largest market share in 2022

Based on process, the manufacturing & planning segment accounted for the largest growth of the digital shipyard market during the forecast period. Digital transformation in shipbuilding is a complex and lengthy process that demands careful planning and timely decision-making. Efficient planning proposes appropriate tools to facilitate process design & sequencing, production BOM & BOP management, time management, 3D shipyard layout, and ergonomic analysis. These management tools also help plan workflows, automate non-value-added planning tasks, and validate the optimal shipbuilding plan and digital shipyard.

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Asia Pacific Region is expected to witness largest market share in the forecast period

Asia Pacific Region is witnessing highest growth among all the regions. The marine industry is one of the most profitable in Asia Pacific. According to the United Nations Conference on Trade and Development (UNCTAD) in 2021, countries such as China, Japan, and the Republic of Korea retained their leadership in global ship production, representing 90% of shipbuilding activity.

Key players operating in the digital shipyard market include Siemens (Germany), Dassault Systemes (France), Accenture (Ireland), SAP (Germany), BAE Systems (UK) among others solution, service and equipment providers. These players offer comprehensive solution to key stakeholders in the market.

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