Home
»
Press Room
»
Digital Shipyard Market Size To Reach $9.88Bn By 2030

Digital Shipyard Market Size To Reach $9.88 Billion By 2030

December 2024 | Report Format: Electronic (PDF)

Digital Shipyard Market Growth & Trends

The global digital shipyard market size is estimated to reach USD 9.88 billion by 2030, registering to grow at a CAGR of 22.1% from 2025 to 2030 according to a new report by Grand View Research, Inc. The rising adoption and use of IoT technologies in the shipbuilding industry drive the market growth. In addition, the IoT facilitates the connectivity and communication of numerous shipyard devices and systems, resulting in increased efficiency and productivity.

Due to the expansion of global trade and tourism activities via ships, the market is expected to experience significant growth in the coming years. Companies increasingly hire digital shipyards to integrate augmented reality/ virtual reality and IoT into their shipyard operations. This integration aims to enhance operational efficiency. For instance, in April 2022, Wartsila introduced virtual and augmented simulation solutions that leverage the latest AR and VR technology. These solutions create immersive environments that simulate real-life shipboard operations, improving learning retention, job performance, and team collaboration. As a result of the increasing adoption of process automation, the global market is expanding rapidly.

In the shipbuilding industry, a shipyard is a facility for constructing and repairing ships. In recent years, shipbuilding companies have made a concerted effort to automate their processes, resulting in significant time savings during ship construction. Concurrently, there is a growing trend towards digitization within the shipbuilding industry. The concept of a "digital shipyard" aligns with the principles of Industry 4.0, allowing for enhanced predictive and maintenance planning capabilities by utilizing sensors and monitoring systems within cyber-physical systems (CPS). These systems can generate and transmit substantial amounts of data to IoT devices. This gathered data can then be shared with various IoT devices in a business environment referred to as the Industrial Internet of Things (IIoT), ultimately reducing workloads and improving overall operational efficiency.

The importance of a digital twin in the shipyard market lies in its ability to revolutionize shipbuilding and maintenance processes. A digital twin is a virtual replica of a physical ship or shipyard that is continuously updated with real-time data. Digital twins enable shipyards to create advanced 3D models and simulations, allowing for more accurate planning and design. This helps identify potential issues and optimize ship construction processes, reducing costs and time-to-market. Moreover, digital twins comprehensively understand ship and equipment performance in real time. This allows for continuous monitoring and optimization of operations, ensuring optimal efficiency and performance throughout the ship's lifecycle.

key Request a free sample copy or view report summary: Digital Shipyard Market Report

Digital Shipyard Market Report Highlights

The hardware segment dominated the overall market, gaining a market share of over 46.0% in 2024.
In terms of shipyard type, the market is classified into commercial and military. The commercial segment dominated the overall market with a market share of 51.6% in 2024.
The large capacity segment dominated the market in 2024 and accounted for a market share of 44.3% and is anticipated to retain its dominance over the projected period.
The AI/Big Data segment dominated the market in 2024 and accounted for a market share of 24.2%.