Yacht Market Size, Share, Trends & Growth Report 2028
Yacht Market The Yacht Market was valued at USD 8,500 million in 2020 and is projected to grow at a CAGR of 5.2% over the forecast period (2021-2028). The factors driving the growth of Yacht Market includes growth in the Tourism industry, increasing demand for luxury Yacht, improvements in the maritime security systems and rising integration of advanced technologies such as Internet of Things (IoT) and Artificial Intelligence (AI) with the existing Yachts. According to the report published by Bloomberg, the Global Luxury Yacht Market is anticipated to reach USD 2.8 Billion by 2031, growing at a CAGR of 8.0% during the forecast period (2022-2031), which is expected to boost the Global Yacht Market in the approaching years. Moreover, the technological advancements in the yacht and growing trend of remote exploring, are some of the additional factors, supplementing the Yacht Market size . In addition, increasing disposable incomes, rapid urbanization and rising investments on resea...