Digitalization is happening, and it does create queries with respect to how maritime is investing in Internet of Things (IoT) or whether the industry has skills for IoT adoption. A research commissioned by Inmarsat and presented at its Press Briefing during Posidonia 2018, suggests that the maritime industry is more amenable to adopting analytic, management and operational tools applied through the IoT than many commentators have supposed.
Respondents suggest that their average expenditure per business on IoT-based solutions will amount to US$2.5 million over the next three years. They say that IoT-based solutions will attract a larger share of their IT budgets than any other ‘next generation’ technology, while early analysis of other segments places maritime ahead of energy, agriculture and mining.
Stein Oro, VP of Applications Sales, Inmarsat Maritime.
Among others the following were identified:
How mature is the maritime sector in relation to IoT adoption?
- 34% see themselves as having “fully deployed” based solutions
- Large % of laggards and leaders highlights differences between companies investing in technology and those that are investing little and doing minimum to meet regulatory compliance.
- 70% will adopt IoT to lower marine insurance premiums
Does the maritime sector have the skills needed for IoT?
- Maritime identifies itself as behind the curve when it comes to planning skills
- Suppliers, rather than owners, are making the running on connectivity and big data analytics
- 42% believe that their organisations would benefit from additional IoT skills
How mature is the maritime sector’s approach to IoT security?
- Cyber security fears focus on inward-facing matters such as data storage (55%)
- 53% believe that more security skills would help deliver IoT based solutions.
- 87% believe that data mishandling processes could be improved
How advanced is the maritime sector’s approach to IoT data?
- Lack of timely data availability is frustrating success for IoT – based solutions
- 43% use or will use data for health and safety standards
How well is the maritime sector adapting to the connectivity requirements of IoT?
- 51% rank satellite connectivity as number 1 by usage
- Maritime does not identify connectivity issues as impediments to IoT uptake
How will the maritime sector invest in IoT?
- The industry expects to spend more on IoT than on cloud computing and big data analytics (each at 6%) over the next 3 years, coming as further indication of the sector’s faith in IoT.
- 14% average cost savings predicted through IoT- based solution use within 5 years
Top 7 security challenges associated with the use of IoT based solutions
- Insecure storage of data collected
- Poor network security
- Potential mishandling of data of staff
- Risk of external cyber attack
- Internal data regulation and compliance requirements
- Supplier data regulation compliance requirements
- We have or will have not experienced any security challenges
The release of ‘Industrial IoT: Maritime’ is part of the Inmarsat Research Programme 2018, which provides a cross-sectoral study on digitalisation in the global supply chain and is due for publication on June 26th
