Global Smart Ports Market was valued US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at CAGR of 24.7% during forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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Global Smart Ports Market Dynamics:
Major factors driving the Global Smart Ports Market are growing introduction of green initiatives and the requirement of ports to comply with the environmental regulations that have been implemented by the governments of several nations, also usage of big data and cloud computing to cut down the carbon emissions and at the same time, increase internal operational efficiency.
However, privacy & security concerns and limited availability of skilled staff are the major factors hindering the growth of the target market to a certain extent. Also, complexity in the integration of different systems and high initial investments are the significant challenges faced by the market for smart ports.
Extensively Busy (More Than 18 million Teu) segment is expected to be the fastest increasing market during the forecast period. The widely busy ports reel in revenues and therefore have a higher potential to invest in implementing smart technologies and solutions in the ports, converting them to smart ports, to increase traffic handling and efficiency.
Seaport segment is expected to hold the largest share and dominate the market during the forecast period. Seaports are situated out in the sea whereas inland ports are the ones that are situated in the inland waterways, such as streams, rivers, and rivulets. Most commercial and passenger cruises dock in the seaports, and so the seaports have the lion's share of the revenues in this segment.
Global Smart Ports Market, Regional Analysis:
The Asia Pacific market is estimated to account for the highest revenue share in the Smart Ports market during the forecast period owing to increasing industrialization is expected to be a key component driving the market in the APAC. The developing economies are expected to give more thrust to the smart ports market. Worldwide, the bulk of trade has seen a gradual increase over the past few years. So, countries like Singapore and Hong Kong form the trade corridor opening the regions’ trade opportunities. This, along with the availability of technology in cheap tech economies like China and Taiwan, will surely positively boost the market in the APAC region.
Various major players operating in the market for smart ports. ABB (Switzerland) is a key player in this segment. ABB aims to position itself as a customer-focused technology solution provider in digital industries. ABB has achieved autonomous shipping and has done new intelligent autopilot, ABB Ability Marine Pilot Control (AMPC) to increase the efficiency and productivity of the ports. The company offers inorganic business growth strategy. Such as, in 2018, ABB and the Shanghai government entered into a collaborative agreement targeting to support its technology innovation center.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Smart Ports Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in Global Smart Ports Market.
Global Smart Ports Market, Key Highlights:
• Global Smart Ports Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Smart Ports Market
• Global Smart Ports Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Global Smart Ports Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
• Global Smart Ports Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Smart Ports Market are also profiled.
The report has considered the base year of 2019 and past four years trend. 2020 figures are at actuals, however due to different dynamics of year 2020, market forecast is not only dependent upon 2020, but on the basis of 2016-2020.
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Scope of the Global Smart Ports Market: Inquire before buying
Global Smart Ports Market, by Element
• Terminal Automation & Cargo Handling
• Port Community System
• Traffic Management System
• Smart Port Infrastructure
• Smart Safety & Security
Global Smart Ports Market, by Throughput Capacity
• Extensively Busy (More Than 18 Million Teu)
• Moderately Busy (5–18 Million Teu)
• Scarcely Busy (Less Than 5 Million Teu)
Global Smart Ports Market, by Technology
• Process Automation
• Internet of Things
• Artificial Intelligence
Global Smart Ports Market, by Port Type
• Inland Port
Global Smart Ports Market, by Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Global Smart Ports Market, Key Players
• Port of Rotterdam
• Royal Haskoning
• General Electric
• Abu Dhabi Ports
• Ramboll Group
• Ikusi Velatia
• Port Solutions
• Scientific Enterprises
• Washington Maritime Blue
• WISTA The Netherlands
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