Digital Shipyard Market size was over USD 1.18 Billion in 2023 and is expected to reach USD 10.64 Billion by the end of 2036, growing at around 18.4% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of digital shipyard is assessed at USD 1.38 Billion. The growth of the global digital shipyard market trend is primarily attributed to the growing adoption of robots, and digital and automation technology in the shipbuilding process during the forecast period. The sales of industrial robots reported an increase of almost 27% in America with a new record of 4.86 million units shipped globally.
Robotic process automation (RPA) is currently developing business process automation technology based on the idea of software robots and artificial intelligence (AI). It helps to mimic the back-office tasks of humans. Also, robotic process automation reduces the risk of death and accidents in workplaces such as warehouses. According to International Labor Organization (ILO), over 340 million workplace accidents occur annually leading to 2.3 million deaths across the world.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
18.4% |
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Base Year Market Size (2023) |
USD 1.18 Billion |
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Forecast Year Market Size (2036) |
USD 10.64 Billion |
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Regional Scope |
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Technology {Artificial Intelligence & Big Data Analysis, Robotics Process Automation, Augmented & Virtual Reality (AR & VR)}
The global digital shipyard market is segmented and analyzed by technology into artificial intelligence & big data analysis, robotics process automation, and augmented & virtual reality (AR & VR). Out of these, the robotic process automation segment is anticipated to hold the largest market size by the end of 2036. Robotic process automation makes an organization more flexible, profitable, and responsive by increasing employee satisfaction, engagement, and productivity by removing repetitive tasks from workers. With the use of robots in industries productivity increased by 5% and working hours decreased by 3%.
Our in-depth analysis of the global market includes the following segments:
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By Type |
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By Capacity |
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By Technology |
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By Digitalization Level |
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North America Market Forecast
The North America digital shipyard market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2036, on the back of the high penetration rate of automation technology and process management among governments and enterprises in this region. The U. S, Canadian, and Mexican companies ordered up to 28% more i.e., 11,595 industrial robots compared to the first quarter of 2021. Further, increased implementation of robotic process automation in various business functions such as data entry, accounting, finance, procurement detail, and record management influence the market growth. The North American robotics market trend experience a rose in revenue by 43% and reached a value of USD 664 million in 2021.
AVEVA Group plcto implement more efficient projects and offer the marine industrynew features to connect business-critical processes of engineering, design, planning, construction, and operations. New tools are developed to optimize project execution, shipyard operations, and vessel performance through digitalization across the marine lifecycle.
Accenture was selected to assist Navantia in the development and implementation of ‘Shipyard 4.0’ to enhance the efficiency of ship design and construction.
Author Credits: Abhishek Verma
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