KEY MARKET INSIGHTS

• The market of ships well suited for remote monitoring or using the cloud to analyze data is about 30,000 out of 100,000 commercial class vessels globally.
• If those 30,000 vessels were to adopt data analytics and remote monitoring, it would create a $20 billion value in terms of reductions in fuel consumption, downtime, maintenance expenses and environmental fines for those customers.

MARKET PARTICIPANTS

• ESRG Technology Group LLC of Virginia Beach, VA, was "founded by former U.S. Navy engineers, it provides cloud-based, remote condition monitoring and data analytics to enable clients to address environmental, fuel, energy and maintenance issues at both the vessel and fleet level, while also providing ship managers with “actionable” information by automatically analyzing a broad swath of data using a variety of reporting and comparison tools and dashboards."
• Propulsion Analytics applies machine learning techniques for energy efficiency, fault diagnostics and predictive maintenance in vessel/engine performance monitoring.