Integrated Bridge System Market to Grow at 3.93% CAGR till 2026; Rising Demand for Advanced Analytic

The Global Integrated Bridge System Market Size is projected to reach USD 9.43 billion by 2026, exhibiting a CAGR of 3.93% during the forecast period. Rising adoption of digital technologies in ships is set to emerge as one of the central growth drivers for this market, states Fortune Business Insights in its report, titled Integrated Bridge System Market Size, Share and Global Trend By Vessel Type (Commercial Vessel: Bulk Carriers, Cruise Ships, Dry Cargo, Gas Tankers, Ro-Ro Ships, Dredgers, and others), and Defense Vessel: Aircraft Carriers, Amphibious Ships, Destroyers, Frigates, Corvettes Among and Others) By Component (Hardware, and Software), By Subsystem (INS, VDR, AWOS, and AIS), By End User (OEM, and Aftermarket), and Regional Forecast, 2019-2026. According to the UN Conference on Trade and Development (UNCTAD), maritime shipping industry is rapidly adopting advanced technologies to reduce operational costs and boost efficiency in ships. One such technology is integrated bridge systems (IBS) that the International Maritime Organization (IMO) defines as an amalgam of interconnected systems that enable centralized access to sensor information from different workstations in a ship. As a result, the efficiency in handling sensitive processes while navigating a vessel gets augmented and this factor is expected to the lead the integrated bridge system market trends in the near future.

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