Global Waterway Transportation Software Solutions Market is valued at approximately USD 83.7 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 7.3% during the forecast period 2023-2030. Waterway transportation software refers to specialized software utilized by shipping companies to enhance overall business efficiency and ensure the security of freight. This software is designed to elevate the efficiency and productivity of logistics companies, effectively managing and optimizing both inbound and outbound transportation operations. Its primary aim is to assist these companies in reducing costs while maintaining a streamlined and secure transportation process. The market growth is driven by key factors such as increasing penetration of Machine-to-Machine (M2M) communication, growing adoption of Wi-Fi enabled underwater acoustic modems in the navy to navigate, and growing convergence of unmanned underwater vehicles and advanced acoustic sensors. For instance, With the rapid growth in global internet access and adoption, exceeding five billion users worldwide, the trend of online purchases continues to surge. In 2022, retail e-commerce sales were projected to surpass USD 5.7 trillion globally, and this upward trajectory is anticipated to persist in the years ahead.
Furthermore, with the significant expansion of international e-commerce, supply chain and logistics networks are undergoing a profound transformation, driven by the integration of technological innovations. The maritime industry is placing a significant emphasis on digitization and standardization. Innovations in freight management for bulk cargo play a crucial role in establishing connected and automated supply chains for retailers, overcoming complexity, and surpassing consumer expectations. In March 2021, Veson Nautical introduced the Veson Partner Network, aiming to enhance the value of the Veson IMOS platform and position it as the standard platform driving maritime commerce with increased efficiency and profitability. These advancements are anticipated to drive the future growth of the Global Waterway Transportation Software Market. However, growth in accidents at an alarming rate during sea freight transportation, rise in stringent emission laws and policies, absence of awareness about the advantages stifle market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Waterway Transportation Software Solutions Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America takes the lead in the Waterway Transportation Software Solutions Market, driven by the expansion of the industrial sector and the growing impact of online sales for industrial goods. Asia-Pacific is poised for significant growth, benefiting from technological advancements and a rising demand for imports and exports, particularly in China and India. These factors are expected to influence market growth in the region positively.
Major market player included in this report are:
Trans-I Technologies Inc.
Accenture Plc
Bass Software Ltd.
Cognizant Technology Solution Corporation
SAP SE
ZeroNorth
High Jump Software
Veson Nautical Corporation
Aljex Software
Descartes Systems Group
Recent Developments in the Market:
In March 2023, the Union Minister for Shipping Ports and Waterways and Ayush introduced the 'Sagar Manthan' Real-time Performance Monitoring Dashboard through a virtual platform. This digital platform serves as a comprehensive repository of integrated data related to the ministry and its subsidiaries. The implementation of this dashboard is poised to revolutionize the operations of various departments by enhancing the coordination of real-time information.
In December 2022, Governor Babajide Sanwo-Olu of Lagos State inaugurated the recently established Waterways Monitoring and Data Management Centre (WMDMC) at the Five Cowrie Terminal, the headquarters of the Lagos State Waterways Authority (LASWA) in Falomo, Ikoyi. This initiative marks a significant enhancement in the safety measures for commuters utilizing Lagos State's water transport services. The deployment of modern monitoring devices and infrastructure at this center is poised to elevate security standards throughout the State's waterways transportation network, ensuring an improved and safer experience for passengers.
In September 2021, Veson Nautical, a prominent global provider of commercial maritime software, disclosed its acquisition of Oceanbolt, a dynamic data solutions provider specializing in marine shipping intelligence. This strategic move aimed to integrate Oceanbolt's analytics-focused solutions and algorithms with the Veson IMOS platform. By combining these capabilities, the development enhances real-time visibility, empowering users in commodity trading and maritime shipping to make well-informed decisions regarding commercial freight.
Global Waterway Transportation Software Solutions Market Report Scope:
Historical Data: 2020 - 2021
Base Year for Estimation: 2022
Forecast period: 2023-2030
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Software, Deployment Model, End-User, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
By Solution:
Warehousing
Vessel Tracking
Freight Security
Yard Management
Ship Broker Software
Maritime software
Others
By Deployment Model:
On-premise
Cloud
Hybrid
By End-User:
Retail & Consumer goods
Energy & Power
Mining
Oil & Gas
Construction
Chemical
Food & Beverage
Military & Defense
Healthcare & Pharmaceutical
Manufacturing
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
