DUBLIN, Jan. 16, 2023 /PRNewswire/ — The “Smart Port Market Share, Size, Trends, Industry Analysis Report, By Technology; By Port Type; By Throughput Capacity; By Element; By Region; Segment Forecast, 2022 – 2030” report has been added to ResearchAndMarkets.com’s offering.
The global smart port market size is expected to reach USD 11.15 billion by 2030, according to a new study. The report gives a detailed insight into current market dynamics and provides analysis on future market growth.
Growing technology advancement and the eventual results of ease of technology adoption are driving the adoption of smart technologies in all forms of ports. National and international trade via marine transportation has risen significantly in recent years. International trade relies heavily on maritime transport.
Ocean shipment is the primary mode of global trade. According to UNCTAD, approximately 80% of the capacity of international trade in goods is managed to carry by sea, with the percentage being even greater in most developing countries.
This mode of transportation is less expensive and more practical for international trade than a street, rail, and air transport. Maritime transportation trade increased by 4.1% in the fiscal year 2021, according to UNCTAD, and is predicted to grow at a modest annual rate of much more than 2.4% from 2022 to 2026.
The international shipping fleet expanded by 3.0% in 2021, following similar trends. The enhanced global trade activity has increased the strain on shipyards and decks. The increased activities have compelled harbor authorities to adopt smart solutions and techniques for automating various harbor operations.
The market is expected to grow due to a growing emphasis on reducing operational expenses. With exhibited enhanced size, port traffic, and cargo amounts, global trade is expanding at a rapid pace. This has enhanced the workload on dockyards and ports. According to the United Nations Comtrade (UN Comtrade), the United States reported annual trade of over USD 949 billion in 2018, the highest in the world.
Such increased trade necessitates operational efficiency and a standardized workflow. To improve the operational efficiency of regular port activities, smart ports implement novel and cutting-edge technologies such as AI and IoT. It lowers logistics costs while also increasing efficiency. As a consequence, the market is expected to grow during the projected timeline.
Additionally, large market players are entering contracts with government agencies to establish advanced AI-based alternatives for dockyards and port construction infrastructure. In June 2022, the Port of Rotterdam in Germany and the Port of Baie Comeau in Canada also agreed to cooperate in investigating the Port of Baie-future Comeau’s expansion and development.
The ports have committed to carrying out a Master Plan Study, which will include cargo flow analyses as well as technological port infrastructure evaluations. Such technological products and collaborative partnerships between organizations and government bodies are expected to drive the market throughout the forecast period.
Smart Port Market Report Highlights
- Moderately Busy segment is anticipated to grow at a maximum CAGR over the study period. The significant investment potential, combined with fewer operations and thus fewer complexities in the technology adoption, is anticipated to increase the product demand.
- Seaport segment accounted for a major revenue share. The amount of automation at ports varies depending on various factors, such as the average amount of operations, capabilities, and size. Seaports handle an enormous amount of cargo as well as passenger numbers. As a result, these ports have high demands for smart technologies to ensure effective dock operations.
- Europe is expected to grow at a high CAGR over the projected period. Ports in Europe are relatively small, but they manage a large volume of cargo. Furthermore, European ports can no longer compete solely on port size, as ports of relatively smaller size/capacity manage as much tra?c as large-sized ports.
- The global market players include Abu Dhabi Ports, IBM Corporation, Ikusi Redes de Telecomunicaciones, S.L., Navis LLC, Ramboll Group A/S, Royal Haskoning, Trelleborg AB, The Port of Rotterdam, Wipro Limited, and WISTA The Netherlands.
Companies Mentioned
- Abu Dhabi Ports
- Awake.Ai
- Accenture Inc.
- ABB Limited
- Cisco Corporation
- General Electric Limited
- IBM Corporation
- Ikusi Redes de Telecomunicaciones S.L.
- Navis LLC
- Ramboll Group A/S
- Royal Haskoning
- Siemens AG
- Trelleborg AB
- The Port of Rotterdam
- Wipro Limited
- WISTA The Netherlands
Key Topics Covered:
1. Introduction
2. Executive Summary
3. Research Methodology
4. Global Smart Port Market Insights
4.1. Smart Port – Industry Snapshot
4.2. Smart Port Market Dynamics
4.2.1. Drivers and Opportunities
4.2.1.1. Increasing international maritime trade activities
4.2.1.2. Adoption of advanced technology
4.2.2. Restraints and Challenges
4.2.2.1. Technological complexities and interaction of numerous systems
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers (Moderate)
4.3.2. Threats of New Entrants: (Low)
4.3.3. Bargaining Power of Buyers (Moderate)
4.3.4. Threat of Substitute (Moderate)
4.3.5. Rivalry among existing firms (High)
4.4. PESTLE Analysis
4.5. Smart Port Industry Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis
5. Global Smart Port Market, by Technology
5.1. Key Findings
5.2. Introduction
5.2.1. Global Smart Port Market, by Technology, 2018 – 2030 (USD Billion)
5.3. Process Automation
5.3.1. Global Smart Port Market, by Process Automation, by Region, 2018 – 2030 (USD Billion)
5.4. Blockchain
5.4.1. Global Smart Port Market, by Blockchain, by Region, 2018 – 2030 (USD Billion)
5.5. Internet of Things (IoT)
5.5.1. Global Smart Port Market, by Internet of Things (IoT), by Region, 2018 – 2030 (USD Billion)
5.6. Artificial Intelligence (AI)
5.6.1. Global Smart Port Market, by Artificial Intelligence (AI), by Region, 2018 – 2030 (USD Billion)
6. Global Smart Port Market, by Element
6.1. Key Findings
6.2. Introduction
6.2.1. Global Smart Port Market, by Element, 2018 – 2030 (USD Billion)
6.3. Terminal Automation & Cargo Handling
6.3.1. Global Smart Port Market, by Terminal Automation & Cargo Handling, by Region, 2018 – 2030 (USD Billion)
6.4. Port Community Systems (PCS)
6.4.1. Global Smart Port Market, by Port Community Systems (PCS), by Region, 2018 – 2030 (USD Billion)
6.5. Smart Safety & Security
6.5.1. Global Smart Port Market, by Smart Safety & Security, by Region, 2018 – 2030 (USD Billion)
6.6. Traffic Management Systems (TMS)
6.6.1. Global Smart Port Market, by Traffic Management Systems (TMS), by Region, 2018 – 2030 (USD Billion)
6.6.2. Automated Information System (AIS)
6.6.2.1. Global Smart Port Market, by Automated Information System (AIS), by Region, 2018 – 2030 (USD Billion)
6.6.3. Real-Time Location System (RTLS)
6.6.3.1. Global Smart Port Market, by Real-Time Location System (RTLS), by Region, 2018 – 2030 (USD Billion)
6.6.4. Others
6.6.4.1. Global Smart Port Market, by Others, by Region, 2018 – 2030 (USD Billion)
6.7. Smart Port Infrastructure
6.7.1. Global Smart Port Market, by Smart Port Infrastructure, by Region, 2018 – 2030 (USD Billion)
6.7.2. Automated Moring System
6.7.2.1. Global Smart Port Market, by Automated Moring System, by Region, 2018 – 2030 (USD Billion)
6.7.3. Gate Automation
6.7.3.1. Global Smart Port Market, by Gate Automation, by Region, 2018 – 2030 (USD Billion)
6.7.4. Shore Power
6.7.4.1. Global Smart Port Market, by Shore Power, by Region, 2018 – 2030 (USD Billion)
6.7.5. Smart Energy & Environment Solution
6.7.5.1. Global Smart Port Market, by Smart Energy & Environment Solution, by Region, 2018 – 2030 (USD Billion)
7. Global Smart Port Market, by Port Type
7.1. Key Findings
7.2. Introduction
7.2.1. Global Smart Port Market, by Port Type, 2018 – 2030 (USD Billion)
7.3. Seaport
7.3.1. Global Smart Port Market, by Seaport, by Region, 2018 – 2030 (USD Billion)
7.4. Inland Port
7.4.1. Global Smart Port Market, by Inland Port, by Region, 2018 – 2030 (USD Billion)
8. Global Smart Port Market, by Throughput Capacity
8.1. Key Findings
8.2. Introduction
8.2.1. Global Smart Port Market, by Throughput Capacity, 2018 – 2030 (USD Billion)
8.3. Extensively Busy
8.3.1. Global Smart Port Market, by Extensively Busy, by Region, 2018 – 2030 (USD Billion)
8.4. Moderately Busy
8.4.1. Global Smart Port Market, by Moderately Busy, by Region, 2018 – 2030 (USD Billion)
8.5. Scarcely Busy
8.5.1. Global Smart Port Market, by Scarcely Busy, by Region, 2018 – 2030 (USD Billion)
9. Global Smart Port Market, by Geography
10. Competitive Landscape
10.1. Expansion and Acquisition Analysis
10.1.1. Expansion
10.1.2. Acquisitions
10.2. Partnerships/Collaborations/Agreements/Exhibitions
11. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/neqmsa
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