Europe To Register Highest CAGR in Shipboard Monitoring Market During Forecast Period
Increase in defence spending and growing technological advancements to drive global shipboard monitoring market through 2024 According to TechSci Research report, “ Global Shipboard Monitoring Market By Ship Type, By Range, By Region, Competition, Forecast & Opportunities, 2024 ” , global shipboard monitoring market is expected to register a CAGR of around 8% during the forecast period on account of increased budgets of shipping companies for digitalization of their vessels coupled with growth of the maritime tourism industry. Advanced technological developments in the field of big data analytics, AI and ship traffic management are further anticipated to spur the growth of global shipboard monitoring market. High shipboard monitoring is expected to reduce piracy, human errors and will further help in carrying more cargo. However, factors such as digitalization which may render ships vulnerable to cyber threats along with the shortage of qualified specialists in the industry mi