Marine Big Data Market

Marine Big Data Market Outlook

The global marine big data market size was valued at USD 1,335.1 Million in 2021 and is expected to reach USD 8,131.2 Million in 2030, expanding at a CAGR of 22.6% during the forecast period, 2022-2030. The maritime industry is a complex system that requires quick adaptation to changing conditions and a large number of parameters for decision-making.

Advancements in navigation systems result in the generation of a significant amount of data in terms of ship performance and navigation. The term, “big data”, in the maritime industry refers to a large amount of data and advancing trends in technology that aim to take advantage of the opportunities that such data offer, resulting in a new approach to understanding the world and making decisions.

With the rising developments in technology, the huge amount of data generated in navigation systems consists of radar, electronic chart display and information system (ECDIS), auto-pilot system, and other related sensors. High-volume, velocity, and variety data are involved. While these qualities present challenges when it comes to processing the data, they also make the data extremely valuable.

It means that, with the right analytical tools, the data are analyzed for patterns in order to gain insights that are not achieved on a small scale. Big data analytics tools make it possible to analyze these large quantities of data in order to gain insights that support decision-making.

Marine Big Data Market Dynamics

Rising adoption of digital solutions in marine industry

Various companies are consistently investing in digital solutions that help them in boosting productivity while cutting overall costs, due to the increasing competition across different industries. As a result, the demand for advanced solutions such as big data analysis is increasing at a significant rate among commercial shippers and other end users.

In the maritime industry, big data is used for controlling the sensors on ships and for performing predictive analysis to improve efficiency and avoid delays. Big data analytics are used to improve decision-making as well as predicting and avoiding additional costs, which is fueling the market.

The Port of Rotterdam (the Netherlands), the Port of Cartagena (Colombia), the Port of Hamburg (Germany), and other ports in Southeast Asia are majorly using big data analytics for their terminal and port operations.

Enhances business efficiency

Development and digitalization in blockchain, automation, artificial intelligence, big data, and IoT are becoming important for the maritime industry for transportation. Big data helps in the transformation of supply chains and international trade, streamlining of existing procedures, and the creation of business opportunities.

One of the most significant uses of big data is the management of ship sensors and precise estimation of the Estimated Time of Arrival (ETA) of barge transportation. A better ETA prediction results in less delays and an overall increase in the operational effectiveness of the entire supply chain.

For instance, in 2022, SINAY SAS has developed a digital platform for ports and shipowners that uses big data and artificial intelligence to minimize the environmental impact and improve profitability. SINAY SAS provides the CO2 consumption to shipowners for each trip based on the ship size and speed.

Blue Marble Geographics has released version 9.0 of the GeoCalc Software Development Kit (SDK). With the help of this updated version the developers are able to embed the advanced coordinate transformation toolbox which powers geographic calculator into their own creations.

Increasing partnerships in product development

Companies are providing high-level technologies for enhancing ship operations, which is projected to fuel the market in the coming years. Companies such as ABB and Eniram Oy are focusing on the development of high-level technologies.

Major market players are offering consultation services regarding marine trade and transport for creating profitable solutions. This includes logistics solutions for increasing efficiency and saving costs.

For instance, Ericsson has collaborated with Cobham Satcom for entering the market. Ericsson is focusing on the shipping industry, due to rising operations by carriers in the Middle East and Asia. The company has also signed an agreement with Inmarsat for promoting data sharing in the marine industry.

Windward is mapping maritime traffic and uses big data analytics on all current and historical data. This helps in analyzing small unexpected patterns and behaviors, which shows involvement in illicit activities.

Rising use of big data to reduce bunker costs

Various ship operators and owners are using big data analytics for decreasing bunker costs. Low bunker costs aid in maintaining low freight rates. Marine big data software allows companies to implement energy efficiency retrofits that result in fuel savings, by using big data collection and analysis.

For instance, ClassNK and NAPA developed the ClassNK-NAPA GREEN software, which provides real-time big data analysis, performance optimization, and monitoring solutions for fuel-efficiency purposes. Kawasaki Kisen Kaisha Ltd. worked with Kawasaki Heavy Industries Ltd Group for developing the K-IMS, which reduces its bunker bill. Moreover, in 2016, We4Sea BV, a Netherlands-based company launched a big data fuel monitoring platform, for reducing ship emissions and bunker costs.

Lack of skilled workforce

The shipping industry is facing various challenges and instabilities, including labor shortages, margin pressures, market fluctuations, and oversupply, which are projected to hamper the profitability of the market.

In an unstable environment, market players are not certain about implementing big data, as it is a novel technology in the industry. In the marine industry, a skilled and sufficient number of human resources is required for the development of big data solutions.

Lack of trained and skilled data scientists is projected to impede the market growth during the forecast period. Furthermore, expenditure on big data is decreasing, which is projected to hamper the market growth in the coming years.

Increasing cyber threat and lack of cross-enterprise technologies

Cybercriminals, terrorists, and other malevolent groups pose a significant threat to marine IT and telecommunication infrastructures. Based on data given by CyberKeel, a Denmark-based cyber security firm, around 90% of huge container lines are susceptible to hackers.

Moreover, according to Joseph Carson, ESC Global Security’s head of the cyber security division, use of big data in the marine industry is expected to increase the susceptibility to cybercrime. Around 90% of global trade is transported by ships, which increases the risk of cyberattacks on the maritime sector, causing disruptions in the supply of food and energy. This is hampering the market growth.

Currently, ship owners, shipbuilders, and ports are majorly concerned in maintaining a efficient level of operation rather than a highly adaptable and responsive trading enterprise known as "container-as-a-community."

This indicates the lack of cross-enterprise processes. Instead of having a comprehensive approach to the business, companies are focusing on automating operations within functional silos. This makes it difficult to utilize the full potential of big data in the marine industry, which is expected to hamper the market growth.

Rising adoption of various strategies by shipping companies

Shipping companies and shipbuilders are focusing on various strategies, such as partnerships with various universities and major technological suppliers, for implementing big data analytics. For instance, Hyundai Heavy Industries (HHI), one of the largest shipbuilders, has signed a Memorandum of Understanding (MoU) with Intel, the Ulsan Center for Creative Economy & Innovation (UCCEI), SK Shipping, Microsoft, and the Daejeon Center for Creative Economy & Innovation (DCCEI).

These companies, with the help of this MoU, have created software for improving the safety of the crew members and meeting the safe ship operation standards & requirements of ship owners.

The Japan Marine United Corp (JMU), Nippon Tussen Kaisha (NYK), and the Monohakobi Technology Institute (MTI) have conducted big data research on 14,000 TEU box ships. NYK provides technical advice to JMU by analyzing and accumulating operational Big Data from ships.

Shipping companies are making an agreement with the research centers and big data solution & service providers for using big data analytics to maintain and monitor shipping equipment, which is expected to propel the market during the forecast period.

For instance, Rolls-Royce has formed a strategic alliance with VTT Technical Research Centre for developing the first generation of autonomous ships. Rolls-Royce is investing in the development of ship intelligence for autonomous ships as well. The company uses big data to plan, monitor, and perform repair & maintenance of ship equipment.

Technological development in marine data science

The marine industry is in the developing stage of implementing big data, due to the availability of different ways for collecting data. Similar types of data need to be sent to various vendors, and these processes are inefficient & time-consuming.

In order to overcome this, maritime businesses are creating internal platforms and entities for ensuring data security and efficiency, which is anticipated to propel the market growth during the forecast period.

For instance, ClassNK established its own Ship Data Center, as a distinct entity with a safe shipping operations database that operates as an independent information hub for the company. Moreover, Bahri has developed a data platform known as BahriData for enhancing operational efficiency and providing novel business prospects.

The company has created a large number of data models for its BahriData platform to cover a number of important business sectors, including fleet operations, voyage management, chartering, maintenance, and customer services.

Rising expenditure by various governments in marine big data

Big data is a significant innovation in the maritime sector. Most of the market players are increasing their investment in promoting the usage of big data in various applications of shipping, which is projected to drive the market in the coming years. Furthermore, rising government initiatives are expected to drive the market during the forecast period.

For instance, European Union (EU) has funded around USD 10.5 million for the EfficienSea2 project to expand the usage of big data for safety. This project includes various entities in the maritime sector, including shipping companies, and the Danish Maritime Authority. These companies are projected to map the potential of big data found on ships, in ports, and in offices.

The Maritime and Port Authority (MPA) of Singapore started a Maritime Innovation & Technology (MINT) fund for supporting the R&D efforts of the maritime industry. Around 50% of the project’s cost is supported by the fund for the development of solutions in the marine industry.

Scope of Marine Big Data Market Report

The report on the Global Marine Big Data market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Marine Big Data Market – Global Industry Analysis, Size, Volume, Share, Growth, Trends, and Forecast
Base Year	2021
Historic Data	2015-2020
Forecast Period	2022–2030
Segmentation	Type (Data Management & Visualization Platform, Geographical Data Visualization & Analytics, Survey & Data Visualization Solutions), Application (Renewable Energy, Oil & Gas, Fishery, Whale Watching, Marine Protected Area, Marine Traffic, Dredging, Harbor, Offshore Construction)
Regional Scope	North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered	KONGSBERG, Esri, Teledyne Technologies Incorporated, Precisely, Quality Positioning Services B.V., EIVA, GISGRO, HYPACK (Xylem Inc.), TrueOcean, Moga Software s.r.l., Blue Marble Geographics, Avenca Limited, Argeo, Terradepth, CHESAPEAKE TECHNOLOGY, OceanWise, Bedrock Ocean Exploration, PBC., BeamworX BV, QGIS

Marine Big Data Market Segment Insights

The global marine big data market is segmented on the basis of machine, end-use industry, and regions.

Type Segment Analysis

In terms of type, the marine big data market is segmented into data management & visualization platform, geographical data visualization & analytics, survey & data visualization solutions. the geographical data visualization & analytics segment is projected to hold a substantial share of the market in 2021, due to the rising environmental concerns and increasing need to collect and evaluate geographical data.

Application Segment Analysis

Based on the application, the marine big data market is segmented into renewable energy, oil & gas, fishery, whale watching, marine protected area, marine traffic, dredging, harbor, offshore construction. The oil & gas segment is projected to hold a substantial share of the market in 2021, due to rising expenditure in offshore oil exploration across the globe.

Regional Analysis

Based on regions, the Marine Big Data market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in the Asia Pacific is projected to expand at a significant CAGR during the forecast period.

The market in Asia Pacific is projected to expand at a significant CAGR during the forecast period. The region is expected to continue its dominance in the coming years, owing to increasing investments by governments and companies for leveraging big data analytics capabilities.

Key Benefits for Industry Participants & Stakeholders

• In-depth Analysis of the Global Marine Big Data Market
• Historical, Current and Projected Market Size in terms of Value and Volume
• Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
• Industry Drivers, Restraints and Opportunities Covered in the Study
• Recent Industry Trends and Developments
• Competitive Landscape & Strategies of Key Players
• Neutral Perspective on Global Marine Big Data Market Performance

Segments

Type

• Data Management & Visualization Platform
• Geographical Data Visualization & Analytics
• Survey & Data Visualization Solutions

Application

• Renewable Energy
• Oil & Gas, Fishery
• Whale Watching,
• Marine Protected Area
• Marine Traffic
• Dredging, Harbor
• Offshore Construction

Regions

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Market Players Profiled in the Report

• KONGSBERG
• Esri
• Precisely
• Quality Positioning Services B.V.
• Teledyne Technologies Incorporated
• EIVA
• GISGRO
• HYPACK (Xylem Inc.)
• TrueOcean
• Moga Software s.r.l.
• Blue Marble Geographics
• Avenca Limited
• Argeo
• Terradepth
• CHESAPEAKE TECHNOLOGY
• OceanWise
• Bedrock Ocean Exploration
• PBC.
• BeamworX BV
• QGIS

Competitive Landscape

Top players in the market include KONGSBERG, Esri, Teledyne Technologies Incorporated, Precisely, Quality Positioning Services B.V., EIVA, GISGRO, HYPACK (Xylem Inc.), TrueOcean, Moga Software s.r.l., Blue Marble Geographics, Avenca Limited, Argeo, Terradepth, CHESAPEAKE TECHNOLOGY, OceanWise, Bedrock Ocean Exploration, PBC., BeamworX BV, QGIS

These companies are considered key manufacturers of the Marine Big Data market based on their revenue, product offerings, regional presence, and Value chain management system. The players are adopting key strategies such as acquisition, collaborations, and geographical expansion which the potential opportunity for the Marine Big Data market.