Global Smart Ports Market is expected to foresee significant growth. Asia-Pacific to lead the growth

Global Smart Ports Market is expected to reach the market valuation of US$ XX billion by 2027 expanding at a reasonable CAGR of XX% during the forecast period (2021-2027) from US$ XX million in 2020. Rising adoption of industry 4.0 to enhance port efficiency and productivity paired with Government policies and financial incentives for Smart Ports infrastructure is expected to drive the market for Smart Ports during the forecast period.

Post 2010, smart ports came into operation. Smart ports are ports that autonomously process daily operations and optimize logistics flow, using new and advanced technologies. Technologies used for optimizing port operations includes AI, Big Data, IoT and Blockchain. For instance, China is promoting construction of smart port pilot projects at 11 ports at government level in four areas, including intelligent port operation, safety management improvement, logistics integration, and business model innovation. Furthermore, Shanghai International Port Group (SIPG), a public terminal operator, inaugurated a US$2.15 billion (14 billion yuan) automated cargo wharf measuring size of 312 football pitches at deep-water site in 2018. Post automating the port, capacity of the Port of Shanghai increased by more than 6 million twenty-foot equivalent units (TEU).

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Rising adoption of industry 4.0 to enhance port efficiency and productivity, Government policies and financial incentives for Smart Ports infrastructure and Growing investment from private sector for smart port technology are some of the major drivers for the global smart ports market. However, Concern related to data breach and data protection of seaport clients and High Up-front cost associated with developing digitalized ports would act as some of the challenges for the growth of the market. Furthermore, Government’s participation and encouragement for the development of smart port infrastructure paired with Technological advancement in the form of IoT, AI (Artificial Intelligence) would provide the technology service provide wide growth opportunity in the coming years.

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• Based on element the global Smart Ports market is bifurcated into Terminal Automation & Cargo Handling, Port Community System (PCS), Traffic Management System (TMS), Smart Port Infrastructure, Smart Safety & Security. With growing global trade, the size of vessel and cargo volumes have increased over the years. The increased volume has impacted the seaports in terms of managing the operations
• Based on technology the market is divided into IoT, Blockchain, Process Automation, Artificial Intelligence (AI). For instance, ports in Western Europe are investing heavily on technologically driven products. Although Smart Port and IoT initiatives are praiseworthy, there is still a long way to go before we can truly speak of fully integrated ports that fully capitalize on the potential of IoT and insight driven applications
• Based on capacity, the market is bifurcated into ports handling above 18 million TEU, ports handling 5-18 million TEU and ports handling below 5 million TEU. Extensively busy ports handle capacity of more than 18 million TEU per year, moderately busy ports handle a capacity of 5-8 million TEU per year, and scarcely busy ports handle a capacity of less than 5 million TEU per year
• Based on port type, the market is bifurcated into seaport and inland ports. Inland port is used for loading and unloading cargo or passengers. Inland ports ensure real-estate development due to intermodal transport by rail or road

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For a better understanding of the market adoption, report provide detailed analysis for major region and countries including North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World. In 2020, Asia-Pacific dominated the market with more than 50% share. Some of the major players operating in the market include General Electric, IBM Corp, Ramboll Group A/S, Royal Haskoning, Trelleborg, Siemens, Accenture, ABB Limited, Wipro Limited, Navis LLC.

Global Smart Ports Market Segmentation

Market Insight, by Elements

• Terminal Automation & Cargo Handling
• Port Community System (PCS)
• Traffic Management System (TMS)
• Smart Port Infrastructure
• Smart Safety & Security

Market Insight, by Technology

• IoT
• Blockchain
• Process Automation
• Artificial Intelligence (AI)

Market Insight, by Capacity

• Above 18 million TEU
• 5-18 million TEU
• Below 5 million TEU

Market Insight, by Ports Type

• Seaport
• Inland Port

Market Insight, by regions

• North America Smart Ports Market
  • United States
  • Canada
  • Rest of North America
• Europe Smart Ports Market
  • Germany
  • United Kingdom
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific Smart Ports Market
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia-Pacific
• Rest of World Smart Ports Market

Top Company Profiles

• General Electric
• IBM Corp
• Ramboll Group A/S
• Royal Haskoning
• Trelleborg
• Siemens
• Accenture
• ABB Limited
• Wipro Limited
• Navis LLC