Portland, OR , Feb. 10, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global yacht management software market was estimated at $653.54 million in 2021 and is expected to hit $2.5 billion by 2031, registering a CAGR of 14.8% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $653.54 million |
| Market Size in 2031 | $2,541.28 million |
| CAGR | 14.8% |
| No. of Pages in Report | 201 |
| Segments Covered | Component, Location, Deployment Mode, Enterprise Size, Application and Region. |
| Drivers | Saving time while scheduling maintenance |
| Transparency among the captain, crew, and the owner | |
| Restraints | Cost of subscription |
| Setup and onboarding initial users | |
| Opportunities | Increasing use of cloud-based yacht management tools to automate shipping processes |
Covid-19 scenario-
- COVID -19 had an adverse effect on the global yacht management market. Since it was impossible to predict when yacht could resume, this outbreak had greatly increased industry uncertainty and put all stakeholders in a panic. As a result, industry participants are making every effort to overcome the uncertainty created by clauses in yacht charter agreements that are still being signed by offering alternatives if the situation does not become better by the date of yacht.
- Furthermore, the larger enterprises market has observed slowdown, with numerous planned projects and investments being delayed or postponed. However, despite financial risk during the pandemic around the globe, various manufactures are optimistic about future growth of the market.
The global yacht management software market is analyzed across component, location, deployment mode, enterprise size, application and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
By component, the software segment held the largest share in 2021, garnering around three-fourths of the global yacht management software market revenue, and is projected to maintain its dominance by 2031. The service segment would also showcase the fastest CAGR of 16.3% during the forecast period.
By location, the onboard segment accounted for the highest share in 2021, generating nearly half of the global yacht management software market revenue. The onshore segment would also portray the fastest CAGR of 15.8% during the forecast period.
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By deployment mode, the on-premises segment accounted for the highest share in 2021, generating nearly half of the global yacht management software market revenue. The cloud segment would also portray the fastest CAGR of 16.0% during the forecast period.
By enterprise size, the large enterprise segment accounted for the highest share in 2021, generating nearly half of the global yacht management software market revenue. The SME segment would also portray the fastest CAGR of 16.0% during the forecast period.
By application, the crew management segment contributed to nearly one-third of the global yacht management software market share in 2021 and is projected to rule the roost by 2031. The harbor management segment, on the other hand, would display the fastest CAGR of 16.9% throughout the forecast period.
By region, North America held the major share in 2021, garnering more than one-third of the global yacht management software market revenue. Asia-Pacific, simultaneously, would showcase the fastest CAGR of 17.2% from 2022 to 2031.
The key market players analyzed in the global yacht management software market report include ABB, Ltd., Chetu Inc., DockMaster, Harbour Assist, Lloyd's Register, Marina Master, Marine Cloud Ltd., Oracle Corporation, Scribble Software and Seahub. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
