Smart Ports Market

Smart Ports Market registered a revenue of USD 860 Million in 2020 and is forecast to witness a 25.8% CAGR during the forecast period (2021-2028), owing to the emerging need to improve the efficiency of port operations and reduce carbon discharge.

To have an edge over the competition by knowing the market dynamics and current trends of “Smart Ports Market”, request for Sample Report here

Key Drivers and Emerging Trends

The smart ports market is anticipated to witness a significant growth over the upcoming years, owing to the growing trend of automation across different industries aided by the rising national and international trade. The increasing need to minimize operational expenses, collect real-time information, and form data-driven decisions at port facilities is projected to encourage the adoption of smart technologies, such as Artificial Intelligence (AI), Internet of Things (IoT), blockchain, and process automation among harbor authorities, thereby, driving the market growth. Also, increasing governments initiatives attributed to the development of smart port infrastructure and upgradation of existing ports is forecast to offer enormous opportunities for the market. Furthermore, the growing adoption of smart port technologies to provide optimized parking spaces, modernize traffic systems, and use cameras, drones, and sensors to collect and collate information on the weather, pollution, port authority, owner, and customer will bolster the smart ports market share.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

Technology – Segment Analysis

Internet of Things is predicted to expand at a higher CAGR over the upcoming years, owing to the growing deployment of IoT in smart port infrastructure to reduce the existent redundant costs and increase overall efficiency. The growing prominence of IoT in ports to solve the issues associated with the calibration and testing of distributed sensing systems pertaining the equipment, such as cranes and vehicles for container handling will expand the segment’s size.

The process automation segment is projected to register a substantial CAGR during the forecast period, owing to their ability to increase the life cycle of container-handling equipment under automated conditions; thus, decreasing the manufacturing and transportation costs.

Elements – Segment Analysis

Smart Port Infrastructure segment is estimated to grow at a faster CAGR over the upcoming years, because of the increasing adoption of smart solutions to optimize operations such as unloading, loading, and transshipment of cargo, promote efficiency, and minimize logistics costs. Furthermore, the incorporation of advanced and environment friendly technologies with infrastructure automation ensures zero emission which will drive the market growth.

Port Type Segment Analysis

Seaports are expected to dominate the market during the forecast period. Seaports are incorporated with advanced technologies including IoT and smart sensors to increase operational efficiency as they are equipped with smart technologies such as smart sensors and IoT, and ease cargo handling process for port operators.

In case, any of your pain points areas are not covered in the current scope of this report, Request for Free Customization here.

Regional – Segment Analysis

Asia Pacific is predicted to dominate the market over the upcoming years, owing to the existence of huge ports with high throughput capacity, thereby fueling the regional growth. The increasing availability of technologies at a cheaper cost, especially from countries including Taiwan and China has strengthened the Asia Pacific’s growth.

Top Market Players

Several leading companies in the market include Abu Dhabi Ports, General Electric, Wipro Limited, Accenture, Siemens, Silveo, ABB Group, Navis LLC, Royal Haskoning DHV, IBM, and among others.

Key Developments:

• • In 2022, ABB entered into a contract with Port of Toulon, France to connect the largest shore-to-ship project in France. With this sustainability effort, the Port of Toulon, which serves yearly over 1.6 million ferry and cruise passengers, is committed to support ABB shore connection technology to offer three ferries for making simultaneous port calls, or one cruise liner, with all their energy needs. The potential of 50 or 60 Hz power hookups will be available for vessels.
  • In 2022, Accenture decided to acquire Argentina-based incorporated data and AI consulting service Ergo. It helped the development of a culture of data-driven decision-making with analytics, artificial intelligence (AI), and big data. In the Hispanic South American market, which includes Argentina, Chile, and Colombia, the acquisition broadens Accenture’s Cloud First capabilities to enable data-led transformations for clients.
  • In March 2021, Siemens has been awarded a contract from the Port of Kiel to implement a cloud-based power monitoring solution for its shore power system. The shore power system will cover the electricity demand of all the ships with green power while they are berthed at the Port of Kiel.
  • In 2021, The Abu Dhabi Maritime has announced a new digital slipway portal. It will allow users to pleasure boats and personal watercrafts, such as jet skis, to easily locate and access key information.
  • In 2019, Accenture completes acquisition of Silveo, a company providing services and solutions for digital manufacturing based on software such as SAP and Dassault.

Segments covered in the Report:

The Smart ports Market has been segmented based on Technology, Elements, and Region. Based on technology, the market is segmented into IoT, Blockchain, Process Automation, Artificial Intelligence. Based on elements, market is segmented into Terminal Automation, PCS, Smart Port Infrastructure, Traffic Management System, Smart Safety & System. Based on Port Type, the market is segmented into Sea Port, Inland Port.

For detailed scope of the “Smart ports Market” report request a Sample Copy of the report

Key questions answered in this research report:

• • At what pace is global smart ports market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in smart ports Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global smart ports market?
  • Which technology generated maximum revenues in 2020 and identify the most promising technology during the forecast period?
  • What are the various elements of global smart ports Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Smart Port Market by Technology

• • IoT
  • Blockchain
  • Process Automation
  • Artificial Intelligence

Global Smart ports Market by Elements

• • Terminal Automation
  • PCS
  • Smart Port Infrastructure
  • Traffic Management System
  • Smart Safety & System

Global Smart ports Market by Port Type

• • Sea Port
  • Inland Port

Global Smart ports Market by Region

• • North America Smart Ports Market (Option 1: As a part of the free 25% customization)
    • By Technology
    • By Elements
    • By Port Type
    • US Smart Ports Market All-Up
    • Canada Smart Ports Market All-Up
  • Europe Smart Ports Market (Option 2: As a part of the free 25% customization)
    • By Technology
    • By Elements
    • By Port Type
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Smart Ports Market (Option 3: As a part of the free 25% customization)
    • By Technology
    • By Elements
    • By Port Type
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Smart Ports Market (Option 4: As a part of the free 25% customization)
    • By Technology
    • By Elements
    • By Port Type
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Smart Ports market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Abu Dhabi Ports
  • General Electric
  • Wipro Limited
  • Accenture
  • Siemens
  • Silveo
  • ABB Group
  • Navis LLC
  • Royal Haskoning DHV
  • IBM