The autonomous navigation market in APAC is expected to grow from US$ 124.1 million in 2019 to US$ 249.1 million by 2027; it is estimated to grow at a CAGR of 11.1% from 2020 to 2027.
Maritime trade has increased drastically in recent years owing to the growth of industrial economies. The unmanned ship is gaining attention as a next-generation transportation vessel due to its enhanced efficiency, safety, and connectivity. As the shipping industry still stands at a transient state, tech giants and shipping companies are focusing on integrating the autonomous navigation technology.
Considering the risk associated with assessing the safety of autonomous ships and human life, it is identified that autonomous unmanned ships are reliable and secure than the conventional ships. In light of the technological adequacy of pilot applications and navigation systems, there is a magnificent development taking place in autonomous shipping. This is anticipated to build a lucrative future for autonomous vessels. In the context of advanced technologies, tug owners are heavily investing in autonomous technology, CCTV, AI, and digitalization for monitoring and vessel navigation. The aspect of deploying autonomous technology in vessels and unmanned ships will propel the market growth. AI optimization for increasing navigation efficiency is among the other factors expected to positively influence the demand for autonomous navigation.
In terms of vehicle type, the AGVs segment led the APAC autonomous navigation market in 2019. The navigation system works on sensors detecting bearing and range. Companies such as BlueBotics SA provide ANT localization+ as a retrofit solution developed for line-following AGVs. The solution provides localization with an emulation of line-following directly swapping real antenna utilized by the magnetic tapes, inductive wires, and more—the solution results in a line-following AGV that removes lines on the floor by providing virtual tags. By propagating AGVs in logistics, warehouses intend to optimize productivity and reduce labor cost, thereby driving the autonomous technology in AGVs. For growing adoption of autonomous navigation , it needs to keep the AGVs’ work navigating flexibly, freely, and autonomously on a shop floor, a fast and an intelligent control system is required. This aspect is anticipated to contribute to market growth.
Logistics is amongst the prominent industries in the Asian economy due to rising e-commerce; however, the outbreak of COVID-19 has impacted the supply chain of many industries. To reduce the effects of the pandemic, the governments have announced lockdowns and travel and trade bans. The logistics industry has witnessed minimal adoption of advanced technologies during lockdown. With businesses resuming, it is expected that the adoption of autonomous technologies and systems such as autonomous navigation will rise to increase efficiency.
The overall APAC autonomous navigation market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the APAC autonomous navigation market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants typically involved in the process are industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the APAC autonomous navigation market. SA; Brain Corporation; Collins Aerospace, Raytheon Technologies Corporation Company; Furuno Electric Co., Ltd.; Kollmorgen; Kongsberg; Trimble Inc.; Yujin Robot Co., Ltd. are among the players operating in the APAC autonomous navigation market.