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Autonomous Ships Market To Witness Significant Growth 13.5% CAGR Due To Growing Popularity Of Maritime Tourism: Grand View Research, Inc.

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According to the report published by Grand View Research, Inc., factors such as growing popularity of maritime tourism, along with increasing trade across continents through seaways and lacking number of sailors are anticipated to fuel the market growth in the forecast period.
The global
autonomous ships market size is expected to reach USD 13.4 billion by 2025, registering a CAGR of 13.5% over the forecast period, according to a new study conducted by Grand View Research, Inc. Autonomous ships use several systems and components including sensors, propulsion systems, and intelligent navigation systems involving the use to Artificial Intelligence (AI) and Internet of Things (IoT). Use of such systems reduces the operational cost of ships, which is one of the key factors driving the market growth. ....

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Autonomous Ships Market To Register 13.5% CAGR By 2025 Owing To Rising Marine Trade & Increasing Maritime Tourism Activities

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FELTON, Calif., Jan. 26, 2021 /PRNewswire/ The global autonomous ships market size is likely to touch USD 13.4 billion by 2025, as per Million Insights. It is predicted that the market would exhibit 13.5% CAGR from 2019 to 2025. Autonomous ships are equipped with sensors, propulsion system and navigation control devices among others. Further, they make use of IoT and AI to facilitate autonomous operations. Increasing use of autonomous ships is projected to reduce the total operational cost.
Further, owing to little manual intervention, these ships are projected to reduce the chances of occurrence of accidents. Real-time data obtained by autonomous ships help in optimizing operational efficiency. Moreover, the quality of services and safety would be significantly improved owing to the deployment of autonomous ships. ....

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