Electronic Cartography Market Revenue Predicted to Go Up by 2026
The electronic cartography market is expected to witness a tremendous growth due to its various benefits and International Maritime Organization (IMO) regulations.
Valley Cottage, NY -- (SBWire) -- 05/08/2018 --The growing trend towards modern marine navigation for efficient marine operation translates the need for electronic navigation a massive market opportunity for Electronic Cartography. Electronic Cartography / Electronic Navigation Systems is a navigational tool with GPS navigator integrated to navigational databases. Displays high-quality satellite images onscreen, provides interactive data chart used to enhance navigational experience and auto reporting in marine environment. Designed to find the best course for navigation, seamless information transfer between ships, between ship and shore. Deploying electronic navigation systems helps to standardize maritime reporting, increase safety & security, logistic efficiency, incident analysis and improved investigation. The electronic cartography market is expected to witness a tremendous growth due to its various benefits and International Maritime Organization (IMO) regulations.
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Electronic Cartography Market in Marine industry: Drivers
Increasing global connectivity through satellite communications and growing need for optimization of marine transportation in terms safety, efficiency and transparency in operation is accelerating the growth of electronic cartography market. Rising awareness regarding potential benefits of electronic navigation systems such as fleet management, cargo monitoring and optimized logistics operations to enhance harbor efficiency are some of the growth factor anticipated to boost the growth of electronic cartography in marine industry. Also the growing awareness of continuous correction and updating of navigational chart is identified as an obvious growth factor driving the Electronic Cartography Market in Marine industry. Furthermore, strategy implementation plan (SIP) for e-navigation by International Maritime Organization (IMO) and the moving trend moving towards electronic charts from paper charts are the major potential growth factors which drives the electronic cartography market in marine industry. However, adaptability to electronic navigational system and lack of expertise is likely to deter the progression of Electronic Cartography Market in Marine industry
Electronic Cartography Market: Segmentation:
Electronic Cartography Market is segmented on the basis of End User, Components, and region. On the basis of end user electronic cartography market is segmented into commercial and defense market. On the basis of components the electronic cartography market is segmented into navigation charts and navigation system. The navigation charts can be sub-segmented into Direct and Pay as You Sail (PAYS) licensing. By navigation system the electronic cartography market can be sub-segmented into Electronic Chart Systems (ECS), Raster Chart Display Systems (RCDS) and Electronic Chart Display and Information Systems (ECDIS). Regionally, Electronic Cartography Market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa (MEA), Asia Pacific excluding Japan (APEJ) and Japan.
Electronic Cartography Market: Regional Outlook
The worldwide Electronic Cartography Market expected to witness significant growth in all major regions including North America, Latin America, Western Europe, Eastern Europe, Middle East, Africa and Asia Pacific. Countries in Asia Pacific such as China and India forecast to dominate the electronic cartography market during the forecast period, as increasing investment for marine infrastructure & vessel safety, industrialization, economic expansion and increasing ocean trade activity.
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Electronic Cartography Market: Competition Landscape
The key vendors in the Electronic Cartography Market include Honeywell International, Inc., Rockwell Collins, Inc., Furuno, Jeppesen (C-MAP), Raytheon Anschutz, Thales Group, Northrop Grumman (Sperry Marine), Navionics, Transas, IIC Technologies, Garmin Ltd.
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