The estimated impact of the COVID-19 pandemic for the global industry is a decrease in growth of gross value by 0.5% for fast recovery, a 1.3% decrease in gross value for a delayed cure, and negative growth of 6.1% in case of a profound recession. In an era of internet jokes morphing into cryptocurrencies with multibillion-dollar market cap values and non-fungible tokens offering the next evolution in art collecting, the now omnipresent blockchain technology has been met with both confusion and creativity. Digital Transformation trends in Global Retail Industry 2021. Efforts to speed up the movement of goods around the world have yet to solve the supply chain bottlenecks caused by surging demand for . The. Hadi Ghaderi, in Advances in Transport Policy and Planning, 2020. The Global Maritime Issues Monitor 2021 is based on a survey conducted between April 19 and May 23, 2021, which was completed by senior maritime stakeholders from the Global Maritime Forum, Marsh, and IUMI's multistakeholder networks. The Maritime Security Market report 2021 provides valuable insights of industry size, share, business performance, current scenario and future growth, regional market condition, market. Kwak et al. Maritime Blue Innovation Accelerator. Inmarsat's 'A Changed World' Reports Acceleration In Digitaliztaion Of Maritime Industry In Post Pandemic World October 14, 2021 Inmarsat, provider of global, mobile satellite communications, has published a new report pinpointing the impact of COVID-19 in accelerating global shipping's digital journey. Startups received access to Washington Maritime Blue industry and ocean leaders alongside our Cluster's global network of mentors and advisors. to 30 percent of total firms in high tech, but only 3 percent in assembly, for example). Maritime shipping causes about 3% of global greenhouse gas emissions - even more than airplanes. RTSys and IFREMER have jointly developed a new system that helps standardise data collected during studies into the impact of global warming on the oceans. The #20under40 Awards, which are supported by YoungShip Dubai, recognise the top 20 maritime industry professionals under the age of 40 in the region and their contributions to the sector. (2005), classified the maritime industry into four main sectors, which are i) marine transportation, ii) harbour, iii) fisheries and marine products, iv) shipbuilding and other marine transportation.In Malaysia, maritime sectors play a vital role in improving the local economy. Probably the most feared crime at sea, piracy can be the result of illegal or unregulated fishing displacing fisherman who turn to maritime robbery and extortion. By Rebecca Strong2022-01-06T13:47:00. Hornblower Group announced on Wednesday it has acquired two offshore vessels: the Seaward Explorer and Seaward Endeavor, previously the California Responder and Pacific Responder, respectively. We are at a tipping point of exponential technological advancement. The trends that are emerging are doing so out of necessity. The pandemic has sent shockwaves through supply chains, shipping networks and . Global Maritime Freight Transport Market Report 2021 to 2027 Key Companies with Impact of COVID-19 on Industry Published: Feb. 9, 2022 at 5:17 p.m. Regardless of the ongoing pandemic, climate and environmental issues remain a top priority and increase in rankings of impact, likelihood, and preparedness. These 10 startups were selected for the Third Wave cohort of the Maritime Blue Innovation Accelerator and receive intensive programming over a 4-month period. Impact Of COVID-19 On The Shipping And Maritime Industry. The perfect storm that has been buffeting the shipping industry—overcapacity, consolidation, stagnating revenues, and declining profitability—is intensifying. In addition to freight and goods movements the UK has a significant maritime tourism and leisure industry which was valued at £3.12 billion in 2017. The shipping industry, which accounts for about 90% of global trade activities estimated at about $12 trillion, has been impacted by the pandemic. Standardising climate change data. Edward J. Kelly Executive Director - Maritime Association of the Port of NY/NJ. . The International Maritime Organization (IMO) has set ambitious targets for the shipping industry. Associated with this has been the extensive embracement of ship automation, and more recently, the technological developments linked to the design and development of unmanned vessels. Senior leaders foresee environmental issues to have the most impact in the coming decade for the global maritime industry, particularly as related to decarbonization and new regulations. digital revenue of their main industry—but more than 70 percent of digital revenue in sectors such as retail and pharmaceutical products ( Exhibit 3). (Photo: HBK) To help shipbuilders meet increasing demands to reduce the impact of noise on marine life . Ships Don't Lie: Blockchain and a Secure Future for Global Shipping. Keeping in mind the uncertainties of COVID-19, we are . Maritime decisionmakers deem a global economic crisis as the issue that can have the greatest impact on the industry in the next ten years, reveals the Global Maritime Issues Monitor 2020. On September 24, 2018, news broke of an attack on the motor vessel Glarus 45 nautical miles southwest of Bonny Island en route to Port Harcourt in Nigeria. Whether companies are transporting passengers or cargo, global maritime logistics has a number of complex factors to content with that can result in chaos. Whilst this focus will continue, the maritime industry is having to respond to a very challenging business environment. The digital economy is growi ng rapidly on a global. In 2014, the South-South trade alone reached roughly $5.5 trillion, a Together, they will unpack the challenges facing the industry and develop tangible solutions to enhance the role and positive impact of the global maritime industry. In the second year of this study, we compare many questions and identify the changes experienced by the retail sector since the advent . The government and the maritime industry are clear that maritime has an integral role to play in the future of the UK. In maritime transport, for 2 For a detailed discussion of determinants of transport and trade costs, see UNCTAD, 2015, Review of Maritime Transport 2015, Digitization does not only bring opportunities, but also risks and threats such as cyberattacks. ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office . Technology and the rapid digitization of the supply chain can make fashion more sustainable. ET SANTA CLARA, Calif., June 4, 2021 /PRNewswire/ -- The rapid adoption of digitization to mitigate the adverse impact of COVID-19 on the global automotive aftermarket has fueled investments in this . About. Digital transformation in transportation and logistics. In recent years, the global maritime industry has embarked on an intensive journey of digital transformation. Industry 4.0 Market - Overview. The outbreak of the infectious disease named as the coronavirus disease ( COVID-19) caused by the newly discovered coronavirus has caused chaos and panic all over the world causing the ceasing of all normal daily activities like going to work, a walk outside or in some countries even . The landscape of maritime is shifting with the rising tides of technology. In the short span of years since Malcolm McLean sailed the first container ship in 1956, the international transportation of goods has crashed through the age of containerization, the age of intermodalism, and the age of digitization. TSI Helps Marine Business Run Silent. This digital transformation of the energy industry is improving efficiency and safety, and it is facilitating the increased use of renewable energy. Digitalization and Automation Accelerate the Transforming Maritime Industry to Achieve Highly Automated Operations for Smarter Ship Broadly, the tipping point is linked to the number of digital players flowing into each industry (up . The Industry 4.0 Market witnesses substantial revenue growth. Greenhouse gases cause global warming, which increases the average temperature of the earth. The Impact of the Covid-19 Pandemic on Shipping. While COVID-19 has had an overwhelmingly negative impact on businesses in Nigeria and indeed globally, the acceleration of digital transformation in Nigeria since the arrival of the pandemic in . Thankfully, the maritime industry is not without the necessary tools to steer it to carbon zero by 2050. the way in which many domains of social life are restructured around digital communication and media infrastructures; the use of digital technologies to change a business model and provide new revenue and value-producing opportunities; it is the process of moving to a digital business; transforming the world of work; the use of digital technologies and digitized data to impact how work gets . Maritime industry. The Global Maritime Forum's inaugural Annual Summit will convene some of the most influential leaders from across the maritime spectrum - those who have the drive and the influence to make change happen. The Impact of Digital Technologies. In the second year of this study, we compare many questions and identify the changes experienced by the retail sector since the advent . Global Container Flows Struggle to Pick Up Speed, Data Shows. Maritime transport is the backbone of the increasingly globalized economy and the international trade system. Maritime Information Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026. Billions of tons of vital products like food, medicine and oil are shipped around the world every year, and if these goods stopped flowing, billions of people would suffer the consequences. The government has not taken a strategic look at the future of the maritime sector for many years. Global maritime trade will plunge by 4.1% in 2020 due to the unprecedented disruption caused by COVID-19, UNCTAD estimates in its Review of Maritime Transport 2020, released on 12 November. December 20, 2021. In fact, the NotPetya malware attacks, one of the most devastating cyberattacks in history, featured a prominent stakeholder in the maritime industry. In addition to the 2020 Global Sulphur Cap, shipowners and operators must consider the greenhouse gas (GHG) targets for 2030 and 2050. A federal judge invalidated the results of an oil and gas lease sale in the Gulf of Mexico on Thursday saying the Biden administration failed to properly account for the auction's climate change impact. Three exciting panel line-ups with industry leading advisors sharing expert views on the evolving role of AIS in global maritime solutions, actionable insights on how the market is moving towards a greener and a more sustainable ecosystem, and . 2 2016 Global Industry 4.0 Survey Contents 04 06 What we mean by Industry 4.0 Introduction 26 27 Map out your Industry 4.0 strategy 2907 Create initial pilot projects 30 Define the capabilities you need 31 Become a data virtuoso 31 Transform into a digital enterprise 32 Actively plan an ecosystem approach Blueprint for digital success 08 Key findings from our survey research Shipping Industry. main products of the digital e . The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry. 1013 Views. Below is Chapter 5 of the Foresight Africa 2020 report, which explores six overarching themes that . maritime logistics dialogue to encourage the exchange of data and collaboration along global supply chains. Together with the Global Maritime Forum and Friends of Ocean Action, the World Economic Forum is collaborating on the Getting to Zero Coalition, with the goal of speeding the development of zero-emission vessels by 2030 as a key step towards decarbonizing shipping. According to Market Research Future (MRFR), the global Industry 4.0 market is poised to create a . The need to do so was identified in the 2015 Maritime Growth Study (MGS), which recommended the development of a national . This is a . The global maritime information market exhibited moderate growth during 2015-2020. Looking forward, the publisher expects the market to reach US$ 24.3 Billion by 2027, exhibiting a CAGR of 10.4% during . Maritime Activity Reports, Inc. February 1, 2022. The proportion of maritime transport of all globally emitted greenhouse gases is 2.5%. Digital technologies and solutions are being used to increase competitiveness and enhance operational efficiency. The report's authors project that the global maritime digital products and services market this year will be worth $159 billion - 18 percent more than pre-pandemic forecasts. Global Marine Trends 2030 has been prepared by Lloyd's Register's Strategic Research Group, QinetiQ and the University of Strathclyde. CO2 is formed as a side product of burning - in all combustion engines - and also when breathing. Combining experience from different industries we bridge the gap between innovations and maritime logistics. The fact is, if the maritime industry suddenly disappeared without a trace, the economic, social, and political impacts would be devastating. The discussion aimed at demystifying some of the aspects around the important topic of the onset of Digitalization in the maritime industry today and its impacts in terms of what value can be gained by all the stakeholders out of such a digital transition to newer methods and practices. The Impact of Digital Innovation and Blockchain on the Music Industry Ignacio De Leon Ravi Gupta Institutions for Development Sector Competitiveness, Technology, and Innovation Division DISCUSSION PAPER Nº IDB-DP-549 November 2017 MarineTraffic presents a series of digital sessions covering a wide range of topics focused on the current and future state of the maritime industry. However, greenhouse gases (GHGs) and other emissions from vessels and related activities in maritime trade have caused significant environmental impacts, especially in coastal areas (Smith et al., 2014 ). Fashion has long been perceived as a major contributor to forest fires, rising sea levels, unfair wages, exploitation of labour and overflowing landfills. The report emphasizes the impact of digitalization, conventional automation technology, and new technologies (IoT, AI, 5G and Digital Twins) on smart ship and maritime autonomy solutions. ). Respondents included board members, C-suite, and functional decision makers from the private sector . COVID-19 is a global disease that has quickly shaken the world economy since the beginning of 2020 and consequently has significantly affected the shipping industries development (including shipping operators, port operators, government authorities, shippers, seafarers, passengers, supply chain operators, etc. The retail industry is transforming itself in response to intensifying competition and new challenges following the shock and disruption of COVID-19. International Trade and Its Impact on the Global Economy 18 named South-South trade. Looking forward, the market is expected to grow at a CAGR of around 6% during 2021-2026. In 2018, the U.N. agency that regulates global shipping set a goal of reducing ships' carbon emissions to half of 2008 levels by mid-century. The global stylus pen market reached a value of US$ 13.4 Billion in 2021. The impacts of the Coronavirus in terms of trade flows are obvious with drops up to 30%. Efficiency, optimization, speed and timing have always been crucial in logistics and transportation. Advances in shipbuilding, propulsion, smart shipping, advanced materials, big data and analytics, robotics, sensors and communications in conjunction with an increasingly skilled workforce are all having monumental shifts in how the maritime industry are . 8 Conclusion. The lack of turnkey solutions for automating processes in maritime logistics in a short time and a sane budget, with competence in IT and logistics, has become the main prerequisite for the creation of the Marine Digital System. Seaward Services, Inc. (SSI), part of the Hornblower Group of maritime businesses, is offering the multipurpose supply vessels for charter, with prompt . Even if the spread of the virus is contained in the short term, some companies will feel the effect for months to come. The country continues to work with member states to advance the global maritime sector and the shipping industry through a collective contribution to the IMO's mission of achieving the safety . It is the most important engine of innovation, competitive ness and economic growth in t he world. global supply-chains, and this has had an adverse impact on global business and industrial activities. Through digitization complex processes like manual tracking can be . Digital Transformation trends in Global Retail Industry 2021. In an increasingly real-time economy speed and timing are key. Maritime business services directly contribute £2 billion gross value added (GVA) to the UK economy; this is expanded to £5 billion GVA if the wider impacts of the sector are considered. Digitalization in the maritime industry Overview Digitalization is gaining fast ground The transition towards digitalization and automation is speeding up in the maritime industry. It might sound obvious but the consequences for supply chains, logistics and the transportation industry are huge. Our international shipping consulting team helps shipping lines and port operators take on new and longtime challenges to emerge leaner, cleaner, and more profitable. PRESS RELEASE January 21, 2021 Digitalizing the Maritime Sector Set To Boost the Competitiveness and Resilience of Global Trade Joint report by the World Bank and IAPH to assist ports and maritime transport community accelerate digitalization and minimize ship-shore human interaction and COVID-19 risks. The decision has cast uncertainty over the future of the U.S. federal offshore drilling program, which has been a big source of . The retail industry is transforming itself in response to intensifying competition and new challenges following the shock and disruption of COVID-19.

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