Smart Ports Market Expected to Growth at Impressive CAGR of 27.7% by 2027 | ABB, Navis, Accenture, Awake.AI, IBM

January 14, 2022

NEW YORK, UNITED STATES, January 14, 2022 / -- Overview -

New Research Study on Smart Ports Market discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.

The global Smart Ports Market was accounted for US$ 1,793.8 Mn in terms of value in 2019 and is expected to grow at CAGR of 27.7% for the period 2020-2027.

A smart port is a container transportation port that uses emerging technologies like big data, the Internet of Things (IoT), machine learning, artificial intelligence (AI), and other intelligent technologies to improve operational performance and economic competitiveness in the transportation sector. Smart ports can promote environmental sustainability with these technologies. Automated freight forwarding programmes are included in the smart port, which aid in the automatic transfer of load forwarding records from cargo containers to ships. It also integrates with freight brokers and applications for freight forwarding. Furthermore, smart port systems can track the loading, unloading, and unpacking of containers and efficiently handle them to ensure the cargo's safety and security. Fuel usage, storage space, and operational costs are all reduced as a result of this.

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Smart Ports Market Top Growing Key Players -

· Awake.AI
· Navis
· Trelleborg AB
· IBM Corporation
· Accenture
· Abu Dhabi Ports
· Ramboll Group A/S.

Market Dynamics:

The smart ports industry is predicted to increase as a result of proactive government activities in the area of smart infrastructure. For example, India is planning to turn its sea ports into smart ports and then upgrade them to intelligent ports in the future, using modern technology such as machine learning and artificial intelligence to streamline and improve port operations. The Maritime India Vision-2030 envisions all of this.

Furthermore, the increased emphasis on reducing operational costs and growing environmental concerns are projected to boost the growth of the smart ports market. According to the International Transport Forum, ports, for example, produced about 85 percent of carbon dioxide emissions (ITF).

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Smart Ports Market Taxonomy -

By Technology

· Internet of things (IoT)
· Blockchain
· Process automation
· Artificial intelligence

By Throughput capacity of Ports

· Extensively busy (above 19 million teu)
· Moderately busy (4-19 million teu)
· Scarcely busy (below 4 million teu)

By Solution

· Gate Automation Solutions
· Traffic-monitoring System
· Port Community System (PCS)
· Smart Cargo-handling System
· Others

By Port Type

· Seaport
· Inland Port

By Region

· North America
· Europe
· Latin America
· Asia Pacific
· Middle East and Africa

Methodology of Research -

The accurate information in the Smart Ports market research is supplied in the shape of diagrams and pie graphs for the convenience of readers. The overall presentation of the report is interesting, with a basic structure, arrangements, and specific data based on reassurance and awareness. Administrators, major actors on the lookout, topographical division, product type and depiction, and market end-customer applications were all analyzed by the investigation team. For each segment and region, it calculates transaction revenues. The report's goal is to give a more complete view of the current situation, the economic slump, and COVID-19's impact on the overall business.

Key Takeaways -

· The Extensively busy sub-segment of port throughput capacity is expected to grow at the fastest rate over the projection period. In comparison to smart ports, heavily used ports have more potential and resources to invest in smart port technologies.

· During the projected period, the smart port market is expected to be dominated by seaports. This is due to the increasing volume of cargo arriving at the seaports. Smart port solutions are required by seaports in order to streamline their whole supply chain procedures.

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The following are the study objectives for this report:

· SWOT Analysis focuses on worldwide main manufacturers to define, assess, and analyse market competition. By kind, application, and region, the market is defined, described, and forecasted.
· Examine the global and main regional market potential and advantage, opportunity and challenge, constraints and risks.
· Determine whether trends and factors are driving or limiting market growth.
· By identifying high-growth categories, stakeholders would be able to analyse market potential.
· Conduct a strategic study of each submarket's growth trends and market contribution.
· Expansions, agreements, new product launches, and acquisitions in the market are all examples of competitive developments.
· To create a strategic profile of the main players and analyse their growth plans in depth.

Mr. Shah
Coherent Market Insights Pvt. Ltd.
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