Marine navigation software helps in the process of directing the movements of watercraft from one point to another; the process, always present in some form when a vessel is under way and not drifting, varies with the type of craft, its mission, and its area of operation. The global marine navigation software market is expected to grow at a moderate pace during the forecast period, according to the AMA study. The rising demand for automation across different marine operations is expected to be one of the major factors aiding the growth of the market. However, the market is expected to witness a decline in growth during FY 2020 but it is again expected to rise at a healthy pace after the COVID-19 pandemic is over.This growth is primarily driven by Rising Demand for Automation in Marine Navigation and Increasing Demand for Advanced Navigation Tools.
Globally, a noticeable market trend is evident Implementation of AI in Marine Navigation Software. Major Players, such as ActiveCaptain (United States), C-Map (Norway), iNavX (France), KnowWake (United States), MaxSea International (France), Microsoft (United States), Navicom Dynamics (New Zealand), Navionics (Italy), OpenCPN (United States), Polar Navy (United States), Seapilot AB (Sweden), Trelleborg Marine and Infrastructure (Dubai) and Veinland GmbH (Germany) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Stringent Government Regulations Regarding Shutting Down of Marine Transport Operations Worldwide Due to the COVID-19 Pandemic has Impacted the Demand for Marine Navigation Software
- Rising Demand for Automation in Marine Navigation
- Increasing Demand for Advanced Navigation Tools
- Implementation of AI in Marine Navigation Software
- Availability of Open Source Platforms
Opportunities Across the Asia Pacific Region
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