Global Global Cruise Industry Market Market Overview:
A cruise ship is a luxury passenger vessel used for recreational and pleasure voyages, equipped with a full range of amenities, entertainment options, activities and attractions that are provided solely to enhance the passenger experience. Available in a variety of sizes, the largest can transport thousands of people. Taking a cruise is known as a great way to attract tourists. The size and technology of a cruise ship determines its ability to travel long distances. Currently, cruises are a very popular sector in the tourism industry and most cruise ships have become more like floating cities. The growing hospitality and tourism sector is driving the global cruise market.
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Rising Demand for Off Season Destination in Cruise Industry
Market Growth Drivers:
Increasing Leisure Travel Preference and Expansion in Cruise Destinations., Growing Wealth and Luxury Interest in Individuals and Increasing Participation of People in Recreational Activities
Travellers Show Lack of Interest in River Cruise and Increasing Incidence of Over Tourism
Geopolitical, Terrorism and Extreme Weather Are Major Concerns
Surge for Advanced Technology in Entertainment Sector on Cruise and Increasing Demand for Biometric Technology, Big Data, Machine Learning, and Artificial Intelligence to Personalize Guests' Experience
The global Cruise Industry Market is a fragmented market due to the presence of a large number of established competitors. The key players focus on developing and innovating new strategies to maintain their market position and customer base. The companies are also planning strategic activities like partnerships, collaboration, mergers, and acquisitions to help them sustain themselves in the market and maintain their competitive edge.
Some of the key players profiled in the report are Carnival Cruise Line (United States), MSC Cruise (Switzerland), Royal Caribbean International (United States), Norwegian Cruise Line (United States), Disney Cruise Line (United States), Silversea Cruises (Monaco), AmaWaterways (United States), Samsung Heavy Industries Co. Ltd. (South Korea), MSC Cruises S.A. (Switzerland) and Hyundai Heavy Industry Co. Ltd. (South Korea). Additionally, following companies can also be profiled that are part of our coverage like DSME Co. Ltd. (South Korea), Meyer Werft Gmbh & Co. (Germany), Fincantieri S.p.A. (Italy) and Mitsubishi Heavy Industry. Ltd. (Japan). Considering Market by Type, the sub-segment i.e. Mainstream Cruise Ships will boost the Global Cruise Industry Market market. Considering Market by Size, the sub-segment i.e. Small will boost the Global Cruise Industry Market market.
Latest Market Insights:
In November 2022, Disney acquired a partially completed vessel that will bring the magic of Disney Cruise Line vacations to new global destinations. Disney has teamed up with the respected shipbuilding company Meyer Werft to complete a cruise formerly known as the Global Dream in Wismar, Germany. The ship will be renamed with certain features reimagined according to Walt Disney Imagineers' world-renowned expertise and is expected to set sail in 2025.
In August 2022, Norwegian Cruise Line (NCL), an innovator in global cruise travel, named its newest ship, Norwegian Prima, which made history as the first major cruise ship, in Reykjavik, Iceland. Norwegian Prima debuted to more than 2,500 guests, enjoying an immersive experience and an unprecedented christening ceremony in the beautiful Icelandic capital.
What Can be Explored with the Global Cruise Industry Market Market Study
Gain Market Understanding
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Analyze and Measure the Global Global Cruise Industry Market Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Global Cruise Industry Market
Understand the Competitive Scenario
- Track Right Markets
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Global Cruise Industry Market market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Global Cruise Industry Market market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Cruise manufacturer, Cruise Service Providers, Government Bodies, Regulatory Bodies, Potential Investors, Research and Development Institutes, End Users and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.