Electronic Chart Display and Information System (ECDIS) Market is mainly driven by Safety needs associated with the International Maritime Organization regulations, growth in trend toward navigational systems, and development of the aircraft and maritime industry.
Albany, NY -- (SBWIRE) -- 05/15/2019 -- An Electronic Chart Display and Information System (ECDIS) is a Geographic Information System (GIS) which is used for maritime navigation that acts in accordance with the regulations of the International Maritime Organization as a substitute to paper maritime charts. The ECDIS is used by naval vessels and ships globally.
The Electronic Chart Display and Information System (ECDIS) is transforming the marine industry. The implementation of electronic chart display and information systems is providing cost-effective and safer navigation for the marine industry globally. ECDIS delivers constant navigational and positional safety information and triggers alarms when the vessel is close to navigational hazards.
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An electronic chart displays the data from nautical charts or electronic charts and assimilates information from speed and position via water reference systems and also by the navigational sensors. Other sensors which can edge with a chart and information system are Depth Sounders, Navtex, Radar, and automatic identification systems.
Furthermore, according to the International Maritime Organization, ships and vessels equipped with electronic navigational charts did not require to carry manual paper charts. The agreement fee for such navigational charts is defined on the basis of number of units, contract period, and types of electronic navigational charts.
Safety needs associated with the International Maritime Organization regulations, growth in trend toward navigational systems, and development of the aircraft and maritime industry globally are anticipated to drive the global electronic chart display and the information system (ECDIS) market during the forecast period (2019-2027).
However, the errors in the global electronic chart display and information system is projected to restrain the growth of this market in the near future. Moreover, the importance of training pertaining to electronic chart display and information systems is likely to hamper the growth of the market. Nevertheless, rise in demand for electronic chart display and information systems is anticipated to create lucrative opportunities for market players during the forecast period. This in turn is leading to new business opportunities and is expected to fuel the growth of the global electronic chart display and information system (ECDIS) market during the forecast period.
The global electronic chart display and information system market can be segmented based on type, component, end-user, and region. On the basis of type, the market can be bifurcated into raster chart system and vector chart system. Based on component, the market can be categorized into hardware, software, and services. On the basis of end-user, the market can be bifurcated into marine, and government and defense; marine is further bifurcated as cargo and passenger.
In terms of region, the global electronic chart display and information system market can be segregated into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is anticipated to hold the leading share of market during the forecast period due to the presence of global players in the region. Rising demand and popularity of this system in the region has helped suppliers proliferate considerably over recent years. Furthermore, an increase in the popularity of electronic navigational charts for ships and aircrafts is anticipated to propel the market in Asia Pacific over the forecast period from 2018 to 2026.
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Leading companies operating in the electronic chart display and information system market include Fontanski Marine Supply, Electronic Charts Company, Inc., Maritime Services Ltd., SRH Marine Electronics S.A., Maryland Nautical, American Nautical Services, Inc., Nautisk Forlag AS, Sirm SPA, and Japan Hydrographic Charts & Publications Co., Ltd. Companies are focusing on launching advanced services to strengthen their position in the market and expand their customer base. They are also investing in research and development operations and concentrating on providing customized services.