Safety in shipping is a huge business mainly because it has been neglected. It is no better or worse than other industries, that in the process of being digitalized they do not pay attention on one of the most important aspects, which is safety.
Startups do play a role here, and undoubtedly there should be more cross-pollination with startups and scaleups that operate in more mature industries. This is an area where shipping really needs to open up. But this will also bring significant changes in almost every aspect of operations in order to do it right.
‘The safety technology, or safetytech, market could exceed USD850 billion by 2023, with established maritime companies increasingly turning to start-ups to improve safety and provide new solutions, it was discussed at an 18 June webinar hosted by the Nautical Institute.’
‘According to a report published by Lloyd’s Register, on 4 June, the marine industry is predicted to make up USD6.6 billion of the total being spent on safetytech; the adoption of digital technology to improve safety. Traditional shipping companies are using services provided by start-ups to promote operational efficiency and safety.’