According to a recent report published by Reports Monitor, Global Maritime Big Data Market is estimated to grow at a significant CAGR over the forecast period.
Big data has the potential to transform the maritime industry. Due to the advancement of automation and the exponential rise in data, it brings innovation on a scale that ‘shipping’ has never seen before. Maritime deals with ships and ship operations. Maritime transport is a very important aspect of our lives, beginning with defense and ending with trips. All the components and sensors of a ship provide powerful data about everything related to that ship, which could be analyzed in order to obtain patterns and to find out how that patterns influence the ship over the time. Big data brings together huge volumes of information from different sources and in various forms – often at high speeds. Due to digital advancement, it becomes possible to make integration of big data into maritime industry. The big data has enabled shippers to use data from the structures of the ship, their components, and the machinery in order to improve their performance. Maritime big data comprises cutting-edge data analytics and shipping expertise.
Major drivers which are driving adoption of big data in the maritime industry are the enhanced cost efficiency and growing digitalization. Furthermore, benefits offered like improved performance, productivity, safety and commercial benefits like optimization of routes in case of bad weathers are elevating the market of maritime big data. Ability to secure finance, lack of big data skilled workforce, emission controls, misreporting of data, and cyber threat are projected to be the big challenges for the growth of maritime big data market.
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The latest trends in the maritime big data market are increasing adoption of big data analytics software in maritime and exploring the use of big data analytics to reduce their bunker costs. Also, maritime companies are developing an internal platform to ensure efficiency and data security. In addition, raising the funds to promote the use of big data in different applications of shipping and investment in research and development are anticipated to grow big data in the maritime market in future. In recent years, the primary goal for most organizations is to enhance customer experience; other goals include cost reduction, better-targeted marketing and making existing processes more efficient.
October 9, 2017- Bahri, DNV GL, a classification society for the maritime industry, have signed agreement to co-develop and jointly leverage their Big Data capabilities for safety, quality and compliance innovation.
March 6th, 2018– Trelleborg, the Swedish engineering firm, launched a new whitepaper bringing together the latest news and thinking on big data in the maritime sector. The whitepaper highlights how the maritime industry can better understand the opportunities that big data offers, for now, and in the longer term.
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Europe is expected to be the largest market of maritime big data due to its dynamic and competitive nature. Maritime International, Inc., Windward, Ltd, and, Big Data Value Association are some major players in the maritime industry, based in Europe. The North American Maritime Market has a wide scope due to the magnitude and diversity within the industry. It includes over 40,000 vessels that are connected with U.S. trucks and railroads. Opportunities exist in the management of large volumes of data, analytics, and reporting tools within several government departments of the United States and Canada. Big data in maritime is a big opportunity in the Asia Pacific (APAC) due to the advancement of digitalization and Internet-of-Things (IoT) market in the APAC region. This growth is driven by increasing penetration of big data, increase in analytics services, and availability of affordable big data solution in the Asia Pacific region.
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Maritime Big Data Market
On the basis of application
- Environmental legislation monitoring
- Remote Sensing
- Voyage Planning
- Intelligent Traffic Management
- Energy Management
- Vessel Safety and Security
- Automatic Mode Detection
- Condition Monitoring & Predictive Maintenance
On the basis of Region
- North America
- Rest of the World
On the basis of Target Audience:
- Market Manufacturers
- Research Consultants
- Traders, Distributors, and Suppliers
- Government & Regional Agencies and Research Organizations
- Investment Research Firms
On the basis of properties
On the basis of Industry Wise Application
- consumer electronics
- military & aerospace
- Maritime International, Inc.
- Windward, Ltd
- IHS Markit Ltd.
- Eniram Ltd.
- ABB Ltd
- DNV GL
- Big Data Value Associations
Company Name: Reports Monitor
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