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Smart Ports Market Size, Share, Competitive Landscape and Trend Analysis Report by Technology, by Throughput Capacity, by Port Type : Global Opportunity Analysis and Industry Forecast, 2024-2032

Smart Ports Market Size, Share, Competitive Landscape and Trend Analysis...

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Smart Ports Market Size, Share, Competitive Landscape and Trend Analysis Report by Technology, by Throughput Capacity, by Port Type : Global Opportunity Analysis and Industry Forecast, 2024-2032
Smart Ports Market Size, Share,...
Report Code
RO6/128/1073

Publish Date
30/Apr/2024

Pages
200
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The global smart ports market revenue was around US$ 2.4 billion in 2023 and is estimated to reach US$ 15.5 billion by 2032, growing at a compound annual growth rate (CAGR) of 23.1% during the forecast period from 2024 to 2032.

Smart ports are digital or intelligent ports and define a transformative paradigm in the maritime industry. These ports harness the power of cutting-edge technologies, AI, and data analytics to improve safety, efficiency, sustainability, and overall functional performance. Smart ports form an intelligent and seamless ecosystem that optimizes logistics, cargo handling, and communication among stakeholders by integrating different interconnected systems and utilizing real-time data.

Factors Influencing Market Growth

- Governments worldwide have enabled the expansion of smart ports via grants, incentives, and policy support. These initiatives accelerate the adoption of intelligent technologies in port infrastructure. These factors are expected to propel the growth of the market.

- Implementing smart port technologies needs a substantial upfront investment in software, hardware, and infrastructure. For some port operators, particularly those in growing regions or smaller ports, the initial costs may be prohibitive, slowing or limiting their adoption of smart solutions.

- Smart ports can draw more businesses and shipping lines, leading to augmented trade volumes by delivering efficient operations, evolved infrastructure, and better customer experiences. This factor may serve as an upcoming smart ports market opportunity.

Impact of COVID-19

There were widespread disturbances in global supply chains, influencing the flow of cargo and goods via smart ports during the early stages of the COVID-19 pandemic. Restrictions, lockdowns, and decreased workforce availability led to delays in cargo transportation and handling. Also, many industries encountered decreased demand for goods during COVID-19, leading to lower cargo volumes. As a result, smart ports encountered reduced shipping traffic and decreased revenue.

Regional Analysis

In 2023, the Asia-Pacific region dominated the global smart ports market in terms of revenue and is anticipated to maintain its position during the forecast period. This is because Asia Pacific has been a leading region in embracing smart port technologies. Countries like Singapore, China, Japan, South Korea, and Australia have been at the forefront of integrating AI, IoT, automation, and big data analytics into their ports to improve competitiveness and efficiency.

Leading Companies

The leading prominent companies profiled in the global smart ports market are: -

- Royal Dutch Shell
- Cisco System, Inc.
- KONGSBERG
- ABB Ltd.
- Huawei Technologies Co., Ltd.
- Kaleris
- IBM Corporation
- Trelleborg
- Intel Corporation
- Abu Dhabi Ports
- Other prominent key players

Segmentation Outline

The global smart ports market segmentation focuses on Technology, Throughput Capacity, Port Type, and Region.

Segmentation based on Technology

- Process Automation
- Blockchain
- Internet of Things (IoT)
- Artificial Intelligence (AI)

Segmentation based on Throughput Capacity

- Extensively Busy
- Moderately Busy
- Scarcely Busy

Segmentation based on Port Type

- Seaport
- Inland Port

Segmentation based on Region

- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa

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