COVID19:MARINE ENGINE MONITORING SYSTEM MARKET TO REACH USD 702 MILLION BY 2027 | CAGR 3.5% — FORENCIS RESEARCH

  • According to the new market research report “Marine Engine Monitoring System Market by Component (Hardware, Software), by Hardware (Routers & Switches, Sensors and Displays and Control Modules), by Ship Type (Commercial, Naval), by Deployment Type (Remote and On-Board), by Engine Type (Auxiliary Engine and Propulsion Engine), by End-Use (Original Equipment Manufacturer (OEM) and Aftermarket), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America) — Global Forecast (2020 to 2027)”, the global Marine Engine Monitoring System Market is estimated to reach USD 702 Million by 2027 at a CAGR of around 3.5% during the review period.
  • Marine engine monitoring system is used to enhance the operational safety and to reduce loss of propulsion in the marine environment.
  • Moreover, it helps to provide a ship with a single central way to manage and control the equipment and operations.
  • The growing usage big data analytics is witness to boost the growth of the marine engine monitoring system market in the forecast period. It helps to provide an advance feature to drive innovation and to deliver the tangible operational efficiencies.
  • In 2015, the Singapore’s Maritime and Port Authority (MPA) has signed a Memorandum of Understanding (MOU) to establish a two-year agreement for the big data with IBM Corporation. Hence, these will lead to increase the market demand in the forecast period.
  • The one of the major concern issue for the marine engine monitoring system market is the variation in the price of oil and gas which may hamper the growth of the market.
  • Rising international marine freight transport as well as maritime tourism are one of the key drive to boost the growth of the marine engine monitoring market in the forecast period.
  • Asia-Pacific:
  • Europe
  • ABB:
  • Cummins Inc.:

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DataBridge Market Research

DataBridge Market Research

Data Bridge set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approach

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