SAN FRANCISCO, October 22, 2018
SAN FRANCISCO, October 22, 2018 /PRNewswire/ --
The global Electronic Cartography System Market is subject to witness a substantial growth over the forecast period due to the shifting focus towards modernization of marine navigation technology to carry out efficient marine operation, and increasing demand for electronic navigation. Factors responsible for the robust growth in the electronic cartography system sales market, in the recent years, include shifting trends towards global connectivity via satellite communications and rising demand for optimization of marine transportation along with safety, better efficiency and flexibility during various operations. Globally, the electronic cartography system sales market is predicted to display high growth rate during the forecast period, providing numerous opportunities for market players to invest in research and development in the electronic cartography system sales market. Numerous benefits offered by the electronic cartography system such as fleet management, cargo monitoring and improved logistics services helps to improve overall harbor efficiency, thereby boosting the growth of electronic cartography system sales market in the last few years. In addition, increasing demand for advanced correction techniques and upgradation of existing infrastructure such as navigational chart are considered as critical factors escalating market growth, in the last few years. Introduction of the strategy implementation plan (SIP) for electronic navigation system, which is developed by International Maritime Organization (IMO) is expected to fuel market growth over the forecast period. Increasing preference towards electronic charts instead of paper charts is anticipated to amplify market progress to large extent in the upcoming years.
However, associated complexities with adoption of electronic navigational system and absence of expertise for successful implementation are likely to hamper market progress in the years to come. Electronic cartography system sales market is broadly categorized into two major types based on end-user segment such as commercial electronic cartography system and defense electronic cartography system. Additionally, electronic cartography system sales market is also segmented on the basis of components such as navigation charts and navigation system. The navigation charts are considered as one of the fastest growing segment in the electronic cartography system industry with substantial revenue generation in the last couple of years. Growing popularity of the navigation charts market segment is attributed to increasing demand of Direct and Pay as You Sail (PAYS) licensing. The navigation system has also witnessed substantial growth in the recent years owing to introduction of e-chart systems (ECS), raster chart display systems (RCDS) and e-chart display and information systems (ECDIS). Growing demand for electronic cartographic systems from the marine and aviation industry is leading to development of novel products such as e-chart systems (ECS) and raster chart display systems (RCDS), thus expanding market reach further, in the last couple of years. Additionally, end-user requirements for stable and time-constraint technology are augmenting demand for electronic cartography system, in the recent years.
Multiple laws and regulation by local government and international agencies such International Maritime Organization (IMO) has led to development of the electronic chart display and information systems (ECDIS). Increasing import and export of goods in leading to increasing demand for modern marine navigation for efficient marine operation, thus providing numerous growth opportunity for industry players. The electronic cartography system sales market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in marine sector and existence of well-established marine infrastructure. Asia-Pacific region is predicted to hold major market share in the electronic cartography system sales market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with rising governmental funding for marine infrastructure & vessel safety, rapid industrialization, strong economic growth, growing import & export activities, and significant investment by leading industry players considering potential growth opportunities in the region. The key players in the electronic cartography system sales market are Honeywell International Incorporations, Rockwell Collins Incorporations, Furuno Electric Co., Ltd., Jeppesen Sanderson, Inc., Raytheon Anschütz GmbH, Thales Group, Inc., Northrop Grumman Co., Navionics S.r.l., Transas Ltd., IIC Technologies Ltd., and Garmin Limited. This report studies the global Electronic Cartography System market status and forecast, categorizes the global Electronic Cartography System market size (value & volume) by key players, type, application, and region. This report focuses on the top players in North America, Europe, China, Japan, Southeast Asia India and Other regions (Middle East & Africa, Central & South America). In 2017, the global Electronic Cartography System market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of xx.x % between 2018 and 2025.
Access 109 page research report with TOC on "Electronic Cartography Market" available with Radiant Insights, Inc. @ https://www.radiantinsights.com/research/global-electronic-cartography-system-sales-market-report-2018
For the data information by region, company, type and application, 2017 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
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