Global Marine Electronics Market 2020-2024
Technavio has been monitoring the marine electronics market and it is poised to grow by $ 927.70 mn during 2020-2024 progressing at a CAGR of 3% during the forecast period. Our reports on marine electronics market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the rise in seaborne trade, growing focus on improving marine transportation safety and increase in adoption of GPS systems. In addition, the rise in seaborne trade is anticipated to boost the growth of the market as well.
The marine electronics market analysis includes product segment and geographic landscapes
Technavio's marine electronics market is segmented as below:
- Sonar systems
- GPS tracking devices
By Geographic Landscapes
- North America
- South America
This study identifies the developments in SAS technology as one of the prime reasons driving the marine electronics market growth during the next few years. Also, growing use of passive radars and increasing deployment of UUVs will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our marine electronics market covers the following areas:
- Marine electronics market sizing
- Marine electronics market forecast
- Marine electronics market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading marine electronics market vendors that include FLIR Systems Inc., Furuno Electric Co. Ltd., Garmin Ltd., Kongsberg Gruppen ASA, Navico, Northrop Grumman Corp., Raytheon Co., Thales Group, thyssenkrupp AG, and Ultra Electronics Holdings Plc. Also, the marine electronics market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.