According to the new research report "Smart
Ports Market by Technology (IoT, Blockchain, Process Automation, Artificial
Intelligence (AI)), Elements (Terminal Automation, PCS, Smart Port
Infrastructure, and Others), Throughput Capacity, Port Type, and Region -
Global Forecast to 2024" the global smart ports market is
projected to reach USD 5.3 billion by 2024 from an estimated USD 1.7 billion in
2019, at a CAGR of 25.0% during the forecast period. This growth can be
attributed to factors such as an increasing 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. The usage of big
data and cloud computing to cut down the carbon emissions and at the same time,
boost internal operational efficiency is a major driving force for the market.
The extensively busy segment is expected to be the largest smart ports
market, by throughput capacity, during the forecast period.
The extensively busy ports are expected to be the largest
and the fastest growing market segment during the forecast period. Extensively
busy ports generate a larger share of revenue when compared to that of the
moderately and scarcely busy ports due to the large-size of operations in the
former. This enables these ports to invest in the latest technologies to
improve their operational coefficient.
Browse 73 market data Tables and 38 Figures spread
through 141 Pages and in-depth TOC on "Smart Ports
Market - Global Forecast to 2024"
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The sea ports segment is expected to be the fastest growing segment of
the smart ports market during the forecast period.
Sea ports are situated out in the sea whereas inland
ports are the ones that are situated in the inland waterways, like streams,
rivers, and rivulets. Most commercial and passenger cruises dock in the sea
ports, and thus the seaports have the lion’s share of the revenues in this segment.
These ports invest their working capital in upgrading the condition by
installing efficient technologies and smart solutions.
Asia Pacific to account for the largest share within the global smart
ports market
In this report, the smart ports market has been analyzed
with respect to five regions, namely, North America, South America, Europe,
Asia Pacific, and the Middle East & Africa. The Asia Pacific is estimated
to dominate the global smart ports market in 2019, owing to the growth in the
industrial, manufacturing, textile, pulp & paper, and power generation
industries in countries such as China, Singapore, Hong Kong, and Japan. This
lead to the massive growth in trade in the region, which in turn is expected to
boost maritime activities in this region. Thus, a significant scope of growth
and development in smart ports exists in these regions.
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The report includes the profiles of some of the top
players in the smart ports market to enable an in-depth understanding of
the competitive landscape. Some of the key players are Royal Haskoning (The
Netherlands), IBM (USA), ABB (Switzerland), Trelleborg AB (Sweden), Port of
Rotterdam (The Netherlands), and Abu Dhabi Ports (UAE). The leading players are
adopting various strategies to increase their share in the smart ports market.
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Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com
