Market Overview
The Marine Chartplotter Market is projected to reach USD 1145 Million by 2030 at 7% CAGR during the forecast period 2022-2030. A Chartplotter is one efficient device that uses the global positioning system (GPS) for showing a location on the map. Such device is pre-installed using the maps. Chartplotter is used on a large scale in the boats for assessing the vessel location with the surrounding environment of the boat to ensure the operators are warned against any kind of underwater debris. The device also shows real-time data like the direction and speed of the vessel and also the voyage time is well calculated. The owners of the boat can preload the navigation routes on the chart plotters and also make the changes in them as and when they need them at the time of the voyage. The chart plotters would store many routes for future purposes. Every route has different waypoints to avoid the hazards like shallow rocks and reefs. Such obstacles are often represented visually on the maps with longitude and altitude references. The devices would want the user if the boat has been straying off course.
The global Marine Chartplotter Market Research has anticipated for witnessing considerable growth during the forecast timeline because of the global sea trade increase and also some of the stringent regulations associated with maritime security. Also, the increased adoption of the solar system has been growing for the search and rescue operations while there seems to be a rise in the anti-submarine warfare systems usage which is likely to fuel up the demand for marine chart plotters across the world.
During the covid 19, there had been many industries that had to shut down while there was a negative impact on the market and economy across the world. So many lives got affected and the rate of death was high as well. Considering this impact, the government across the world had to make the decision on putting restrictions on all the countries in terms of movement and stay lock-down at the home. It affected many markets which eventually affected the marine Chartplotter as well. However as the regulations and rules are being uplifted, it is now evident that the market is seen improving and is likely to reach its forecast valuation.
Segmentation
The market of the Global Marine Chartplotter is categorized:
As per component:
Hardware
Software
As per application:
Fish Finders
Navigation
As per the end user:
Yachts
Boats
As per region:
North America
Asia-Pacific
Europe
Middle East Africa
Latin America
Regional Analysis
As per the regional analysis that has been made, the Marine Chartplotter Market Report is categorized into different regions which consist of North America, Asia-Pacific, Europe, Middle East Africa, and Latin America. Presently North America is holding a huge share of the market because of its high investment in military and defense.
Recent Development
BG, Garmin Ltd, FLIR Systems, and ONWA Marine Electronics Co. Ltd are some of the key players in this market.
Key Players:
Simrad (Norway), Garmin Ltd (US), FLIR Systems (Raymarine) (US), BG (US), Lowrance (US), Furuno Electric Co., Ltd (Japan), Humminbird (US), Navionics srl (Italy), ONWA Marine Electronics Co. Ltd (Hong Kong), and Japan Marina Co., Ltd (Japan).
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