Optimizing marine vehicles industry: A Hybrid Analytical Hierarchy Process and Addtive Ratio Assessment approach for evaluating and selecting IoT-based marine vehicles

Abstract

Rapid developments in the Internet of Things (IoT) have opened the door for game-changing applications in numerous sectors, especially the vehicle industry. There is a rising demand for efficient assessment and decision-making methodologies to pinpoint the most promising choices for the vehicle sector with the introduction of IoT-based maritime vehicles. To overcome this issue, the integrated multi-criteria decision-making analysis (MCDA) paradigm proposed in this research combines the additive ratio assessment (ARAS) and analytic hierarchy process (AHP) approaches to evaluate and choose IoT-based maritime vehicles based on their performance- and authenticity-related criteria in the vehicle sector. The selection issue is hierarchically organized, and the assessment criteria are prioritized using the AHP approach. There are seven performance and authentication related criteria are selected that might aid in the selection procedure. Using the AHP, we are assigned these criteria proportionate weights that reflect their respective significance and interrelationships. AHP, however, falls short of offering a thorough analysis of the alternatives that exist. To overcome these restrictions, this research presents the integration of AHP with the ARAS approach for the ranking of alternatives according to how well they perform against the set criteria. By using the ARAS technique, it is possible to get over the restrictions of AHP and achieve a more thorough assessment of maritime IoT-based vehicles. The efficiency of the framework is proven using empirical data and professional judgment. The findings show that the hybrid method successfully encapsulates the intricate relationships between the factors being evaluated and objectively appraises the potential of IoT-based maritime vehicles for the automotive sector. This study extends to the area by providing an organized and thorough method for assessing and choosing IoT-based maritime vehicles. Considering several factors and their mutual dependence, the hybrid AHP and ARAS technique gives decision-makers a powerful tool for evaluating the potential of IoT-based maritime vehicles in the automotive sector. Smart decisions on the deployment of IoT-based marine vehicles and maximizing the potential they present may be made by beneficiaries in the automotive sector using the study’s results.