South East Asia Fuelling the Global Market of Marine Electronics

Marine electronics are the water-resistant devices used for marine environment and cannot be destroyed or affected by the salt water. They have wide range of applications in merchant vessels, fishing vessels, military naval, and yachts/recreational boats. The global market of the marine electronic are largely dependent on the performance of the ship industry. Today, marine electronics offer remarkable benefits that not only increase its demand but also better the functionality and performance.

Adoption of new and advanced technology contributes to the growing demand for marine electronics. Artificial intelligence, augmented reality, virtual reality, robotics, drones, autonomous, and wearable technologies are also incorporated in the developments of marine electronics. Moreover, there are approaches for creating autonomous commercial ships.

Marine Electronics Market in South East Asia

Over the years, South East Asian countries such as Singapore and Indonesia have taken up several initiativse for the development of marine electronics considering an increase in maritime security concerns. Therefore, increase in the use of security and safety marine electronic devices will surely drive the market in South East Asia. A particular feature arising in this region is the mutual interest of states and other countries in the promotion of maritime commerce and trade which in turn fuels the market for marine electronics.

Additionally, increasing mandatory government regulations on protecting the marine environment influence the marine electronics manufacturers to improve their products and meet the necessary demands. Because of huge investment on maritime industry, growing naval requirements, increasing globalization, and ocean trade, the marine electronics market is expected to grow highly in South East Asia in the next decade.

Marine electronics have also enabled automation in yacht, boats and ships on various levels. Adoption of latest technology have great impact on every marine system. Emergence of new materials, components, and system concepts are also likely to enhance the South East Asia as well as the entire global market for marine electronics. It accounts a revenue of US$ 4,143.5 Mn in 2018 and is expected to expand at a rate of around 6.5% in the next decade.

Furthermore, manufactures are also developing integrated marine electronics which connects several pieces of the equipment through multifunctional display. However, there are many challenges of marine electronics that also exist in South East Asian regions regarding insecure mode of data transmission, incompetency of software, lack of infrastructure, and growing concerns about the marine environment.

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