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Global Smart Port Market is Expected To Grow At A CAGR Of Over 25.4% During 2023-2028 - ResearchAndMarkets.com

By Business Wire

Business Wire
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DUBLIN--(BUSINESS WIRE)--The "Smart Port Market: Trends, Opportunities and Competitive Analysis 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The report explores the promising future of the smart port market, identifying opportunities in both the seaport and inland port markets. It projects that the global smart port market is expected to reach an estimated $7.0 billion by 2028, with a remarkable CAGR of 25.4% during the forecast period from 2023 to 2028.

Key drivers for this market include the growing demand to enhance the efficiency of port operations and reduce carbon footprints, increasing demand for real-time information and supply chain visibility, and rising government investments toward port infrastructure upgrades.

Smart Port Market Segments

The study includes trends and forecasts for the global smart port market by the following segments:

  1. Element:

    • Terminal Automation & Cargo Handling
    • Port Community Systems (PCS)
    • Smart Safety & Security
    • Traffic Management Systems (TMS)
    • Smart Port Infrastructure
  2. Technology:

    • Process Automation
    • Internet of Things (IoT)
    • Artificial Intelligence (AI)
    • Blockchain
  3. Throughput Capacity:

    • Extensively Busy Ports
    • Moderately Busy Ports
    • Scarcely Busy Ports
  4. Port Type:

    • Seaports
    • Inland Ports

Smart Port Market Insights

  • The report provides key insights into the smart port market, including projections for the largest technology segment, the Internet of Things (IoT), which is expected to remain dominant over the forecast period due to the growing adoption of digitalization and the need to incorporate IoT into port operations.
  • Additionally, seaports are projected to remain the larger port type segment due to their adoption of powerful digital technology, smart sensors, and IoT, which enhance operational productivity and ease cargo management for port authorities.
  • The Asia Pacific region (APAC) is expected to be the largest market segment, driven by increasing investments in new technologies such as artificial intelligence and blockchain, and significant growth in trade business in countries like Singapore and Hong Kong.

Features of the Smart Port Market Report

The report provides the following features:

  • Market Size Estimates: Smart port market size estimation in terms of value ($B)
  • Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions
  • Segmentation Analysis: Smart port market size by various segments, such as element, technology, throughput capacity, port type, and region
  • Regional Analysis: Smart port market breakdown by North America, Europe, Asia Pacific, and the Rest of the World
  • Growth Opportunities: Analysis of growth opportunities in different elements, technologies, throughput capacities, port types, and regions for the smart port market
  • Strategic Analysis: Includes M&A, new product development, and competitive landscape for the smart port market
  • Analysis of Competitive Intensity: Based on Porter's Five Forces model

Companies Mentioned

Some of the companies mentioned in the report include:

  • Abu Dhabi Ports
  • Accenture
  • ABB
  • Cisco
  • General Electric
  • IBM
  • Navis
  • Ramboll Group A/S
  • Royal Haskoning
  • Siemens
  • Trelleborg
  • Wipro

Reasons to Buy

The report enables readers to:

  • Understand the growth opportunities and potential of the global smart port market
  • Analyze key segments and regions that will experience rapid growth
  • Identify the emerging trends in the market and the reasons behind them
  • Gain insights into the changing demands of customers in the smart port market
  • Stay informed about the latest developments in the market and the leading companies driving these developments
  • Identify major players in the market and their strategic initiatives for business growth
  • Assess the competitive landscape and the potential threats posed by competing products
  • Track M&A activity in the market and its impact on the industry

For more information about this report visit https://www.researchandmarkets.com/r/v2xrbq

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.


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First published on Mon, Aug 21, 2023

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Tags:

ResearchAndMarkets Smart Port Market Port Community Systems (PCS) Traffic Management Systems (TMS) Internet Of Things (IoT)

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