Page 8: of Marine News Magazine (February 2014)

A recent white paper by marine data analytics software provider ESRG outlines the way forward for operators who embrace the latest in technology. Today, only a minority of vessels are positioned to capture in- dustrial internet beneÞ ts. That said; almost every new-build ship will have technology built in to capture these beneÞ ts. Substantial fuel savings, re- duction in maintenance and repair costs, and greater assurance of envi- ronmental compliance are the larg- est drivers. The industrial internet has already created signiÞ cant value elsewhere and it will do the same for the marine industry. The impact will exceed $10 trillion annually in the next 15 years. Based on analysis of 100,000 ships in the global ß eet today, there are as many as 30,000 ships that have some technology in- frastructure. This number is expect- ed to grow at 3,000-7,000 per year, with most newbuilds incorporating a solid technology infrastructure in the shipyard. Based on the breadth of all marine sectors, the industrial inter-net has the potential to create an es- timated $20 billion of value per year for both the existing marine ß eet and even more for newbuild vessels in the future. That market, according to BY THE NUMBERSBringing Workboats ?Into the Cloud? 8 MNFebruary 2014 MN FEB14 Layout 1-17.indd 8MN FEB14 Layout 1-17.indd 81/20/2014 11:41:45 AM1/20/2014 11:41:45 AM