• 2020

    The Rise of IoT in Mining

    This report focuses on the mining sector and explores levels of IoT maturity amongst organisations operating across the globe. In this study, six factors have been identified to understand the overall maturity of the mining sector in its IoT deployment.
    View report
  • 2018

    Industrial IoT on Land and at Sea

    This 2018 research is focused on understanding the ways that the Industrial Internet of Things (IIoT) is being adopted by organisations from the agriculture, energy, maritime, mining and transport sectors and the role of satellite connectivity as an IIoT enabler.
    View report
  • 2017

    The Future of IoT in Enterprise

    This 2017 research is focused on understanding the ways that the Industrial Internet of Things (IIoT) is being adopted by organisations from the agritech, energy, mining and transport sectors and the role of satellite connectivity as an IIoT enabler.
    View report
  • Info

    About Inmarsat Enterprise

    Inmarsat is the leading provider of global mobile satellite communications services. Since 1979, Inmarsat has been providing reliable voice and high-speed data communications to governments, enterprises and other organisations, with a range of services that can be used on land, at sea or in the air.

    Inmarsat operates around the world, with a presence in the major ports and centres of commerce on every continent.
    Learn more about Inmarsat

Sign up to receive latest blogs, thought leadership and email updates.

Please tick to confirm you are happy to receive occasional marketing communications from Inmarsat. You may opt-out of these communications by clicking the ‘Unsubscribe’ link at the bottom of the emails at any time. For further details, please view our Privacy Policy.

Maritime businesses expect to invest considerable sums into IIoT over the next three years – generating an average figure per respondent organisation of $2.5 million.

It is worth considering that budgets for IIoT solutions in the maritime sector go beyond pure IT spending, given that the IIoT and ship connectivity costs cut across the operations, safety and training budgets that often sustain adoption of new technologies.

If this is so, the maritime industry offers several or dispersed points of entry for IIoT solutions, over and above strategic decisions from senior managers.

HOW WILL THE MARITIME SECTOR INVEST IN IIOT? (%)

Laggards
Starters
Progressives
Leaders

HOW WILL THE MARITIME SECTOR INVEST IN IIOT? (%)

Laggards
Starters
Progressives
Leaders

Closer analysis of findings from the maritime sector nonetheless characterise the sector as featuring a larger proportion of IIoT ‘laggards’ (18 per cent) and ‘starters’ (61 per cent) than other industries, and a correspondingly smaller proportion of ‘progressives’ (19 per cent against 32 per cent overall).

The planned spend on IIoT places it as the number one next generation technology that maritime companies expect to invest in over the coming period.

Respondents expect to spend more on IIoT than they will on cloud computing and big data analytics (each at 6 per cent) over the next three years, coming as further indication of the sector’s faith in IIoT.

WHAT PROPORTION OF YOUR IT BUDGET DO YOU EXPECT TO SPEND ON THE FOLLOWING TECHNOLOGIES OVER THE NEXT THREE YEARS? (%)

IIoT
Cloud computing
Big data analytics
Next generation security
Robotics
Virtual reality
Augmented reality

WHAT PROPORTION OF YOUR IT BUDGET DO YOU EXPECT TO SPEND ON THE FOLLOWING TECHNOLOGIES OVER THE NEXT THREE YEARS? (%)

IIoT
Cloud computing
Big data analytics
Next generation security
Robotics
Virtual reality
Augmented reality

However, there is some significant variation within the average spend on IIoT, with around a quarter of respondents (24 per cent) expecting to invest over $3 million over the next three years, while 15 per cent say they will spend less than $100,000 over the same period.

Although size of operation will naturally dictate how much companies are able to – or need to – spend on the technology, this disparity once more demonstrates the variation in adoption attitudes within maritime businesses.

Plainly, not all maritime businesses have the same R&D budgets, and a high proportion of maritime respondents envisage making use of turnkey solutions in their forward-looking adoption projects.

Some 64 per cent of respondents say that they are or plan to use external parties to support some or as much as possible of their IIoT deployment strategies, while 48 per cent seek external help with management on an ongoing basis.

Respondents expect to spend more on IIoT than they will on any other next generation technology over the next three years

14%

average cost savings predicted through IIoT use within five years

Maritime businesses see IIoT solutions as able to help them save money, but are less convinced of their ability to generate new revenues.

While the cost savings are negligible today (2 per cent), this is expected to rise to 3 per cent within 12 months, to 7 per cent within three years, and then sharply to 14 per cent by the end of five years.

Revenues generated by IIoT-based solutions are expected to increase less rapidly, reaching 7 per cent in five years, compared to 1 per cent today.

FOR MORE INFORMATION ON THE RESEARCH, DOWNLOAD THE REPORT - INDUSTRIAL IOT ON LAND AND AT SEA: MARITIME

Press enter or esc to cancel