Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Navigation Speed Log Market
Navigational speed log is a navigation tool which is used to measure longitudinal and transversal speed of the ship with respect to sea bed and water. Navigation speed log provides accurate data as measured in a logical way. Further, speed logs are run with electric power. A speed log also provides data of water speed and distance traveled.
Market Size & Forecast
Global navigational speed log market is anticipated to grow at a robust pace during the forecast period i.e. 2017-2024. Factors such as rise in number of marine ships coupled with growing ocean trading activities all across the world are expected to foster the growth of global navigation speed log market during the forecast period.
In terms of geography, Asia Pacific is the largest market of navigation speed logs and is anticipated to experience a remarkable growth during the forecast period. Additionally, China, Japan, India and Singapore countries own large number of ships. Further, China, Japan, India & Singapore are expected to be the major contributors to the growth of navigation speed log market in Asia Pacific region during the forecast period.
Europe is the second leading market of navigation speed log. Further Europe navigation speed log market is expected to expand during the forecast period owing to growing seaborne trading activities in this region. Further, Germany and Greece are the dominating the Europe navigation speed log market due to large number of merchant vessels in these countries.
Moreover, North America navigation speed log market is likely to expand at a significant pace during the forecast period. Favorable government initiatives to strengthen their navy forces are the major factor which is augmenting the demand for navigation speed logs in war ships and submarines.
By application, ships and merchant vessels segments are anticipated to witness significant demand for navigation speed logs during the forecast period.CLICK TO DOWNLOAD FREE SAMPLE
Market Segmentation
Our-in depth analysis of the global navigation speed log market includes the following segments:
By Type
By Application
By Region
Global navigation speed log market is further classified on the basis of region as follows:
Growth Drivers & Challenges
Global navigation speed log market is primarily driven by growing ocean trading activities all across the globe. Further, increasing application of navigation speed log in the ships due to need for continues tracking of data include speed, distance and other data is also a major factor which is likely to drive the growth of global navigation speed log market.
Furthermore, rising prevalence of merchant vessels for transportation purposes is also a major factor which is fostering the growth of global market. Additionally, favorable government initiatives to strengthen their naval forces are augmenting the number of warships and submarines in the ocean. This rise in number of ships and submarines is a key factor which is bolstering the growth of navigation speed log market.
Furthermore, growing water traffic due to raise in ocean tourism activities is anticipated to foster the growth of maritime industries. Further, this growing maritime industry is also expected to foster the demand for navigation speed log market during the forecast period.
However, error occurred in navigation speed logs due to factors such as change in ship motion, due to rolling and pitching, due to inaccuracy in measurement of comparison frequency is a major challenge confronting the global market of navigation speed log market. Moreover, this factor is projected to dampen the growth of global market in near future.
Key Players
Scope & Context
Overview of the Parent Market
Analyst View
Segmentation
The global navigation speed log market is segmented as follows:
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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