Smart Port Market Growth Prospects, Key Vendors, Future Scenario Forecast to 2027

The Global Smart Port Market is estimated to reach USD 8.4 Billion by 2027 at a CAGR of 24.2%, says forencis research (FSR).

Smart port is defined an automated port that uses emerging technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and Blockchain to enhance its performance. As the volume of trade is growing notably, implementation of these technological solutions helps in automated functioning improving internal efficiency.

Smart Port Market: Drivers & Challenges

Market Drivers:

Demand for Operational Efficiency at Ports

The global trade is increasing at faster pace, this have increased vessel size, cargo volumes, traffic at port, which increases pressure on the yards and the stakeholders involved. Because of this increased pressure, the internal efficiency at operational level gets affected at the ports. Incorporating smart solutions may help in optimizing operational activities, improving efficiency and reducing logistics cost. Sensors installed at the ports helps in monitoring infrastructure, scheduling maintenance activities, and optimizing many other operational activities.

Thus, demand for operational efficiency at ports may contribute in the growth for the smart port market, during the forecast period.

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Implementation of Cloud Computing to Reduce Carbon Emission

Carbon footprint created by shipping industry is very large. According to International Transport Forum (ITF), approximately 85% of carbon dioxide emissions were produced by ports. To reduce the amount of emissions produced various steps are taken by the industry. Installing cloud computing may help the industry to achieve their target for lower emissions. The organization can migrate the workload to the cloud server which will save energy consumed by on premise infrastructure. Cloud computing helps in saving energy, cost and resources to great extent.

Thus, implementation of cloud computing to reduce carbon emission may contribute in the growth of the smart port market, during the forecast period.

Market Challenges:

Cyberattacks Issue

Recently, the ports are experiencing digital transformation to optimise operational activities and expand the capabilities, such as monitoring of infrastructure, collecting real-time data, and automation. This transformation is based on the technologies such as big data, cloud computing, Internet of Things (IoT) and incorporation of these technologies in the system has made the ports vulnerable to cyberattacks. To utilise technologies at their full potential awareness regarding cyberattacks can be raised among the stakeholders and cybersecurity can be developed.

Thus, cyberattacks can be challenging factor for the growth of the smart port market, during the forecast period.

Smart Port Market: Key Segments

  • Segmentation based on component covers: Hardware, Software, and
  • Segmentation based on solution covers: Single-window Custom, X-ray Scanning, Smart Cargo-handling System, Gate Automation, Traffic-monitoring System, Asset Health Monitoring, Biometric Access Control System and
  • Segmentation based on technology covers: Internet of Things (IoT), Big Data, Artificial Intelligence (AI), Blockchain, and
  • Segmentation based on port type covers: Emerging, Intermodal Terminal, Local Trade and City-based.
  • Segmentation based on region covers: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.

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Smart Port Market: Report Scope

The report on the smart port market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

List of the leading companies operating in the Smart Port Market include:

  • IBM Corporation (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
  • Trelleborg Marine and Infrastructure
  • Royal HaskoningDH
  • Accenture Plc
  • General Electric Company
  • ABB Ltd.
  • Ramboll
  • Scientific Enterprises Ltd
  • Ikusi Redes de Telecomunicaciones, S.L
  • AGT International
  • Other Key Companies

Smart Port Market: Report Segmentation

For the scope of report, In-depth segmentation is offered by Forencis Research

Smart Port Market, by Component

Hardware

Software

  • Web-based
  • Cloud-based

Service

Smart Port Market, by Solution

  • Single-window Custom
  • X-ray Scanning
  • Smart Cargo-handling System
  • Gate Automation
  • Traffic-monitoring System
  • Asset Health Monitoring
  • Biometric Access Control System
  • Others

Smart Port Market, by Technology

  • Internet of Things (IoT)
  • Big Data
  • Artificial Intelligence (AI)
  • Blockchain
  • Others

Smart Port Market, by Port Type

  • Emerging
  • Intermodal Terminal
  • Local Trade
  • City-based

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Smart Port Market by Region

  • Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
  • North America (US, Canada, Mexico)
  • Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
  • Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
  • South America (Brazil, Argentina, Rest of South America)

Key Questions answered by the report

  • What are the major developments impacting the market worldwide and its growth?
  • What will be the effects of the developments in the global market on the industry and on the market players in the near and far future?
  • What are the evolving types of the global market?
  • What are the evolving applications of global market?
  • What are the major characteristics that will affect the global market growth during the study period?
  • Who are the key global players operating in the market?
  • How are the major players leveraging in the existing global market conditions?

Table of Content

  1. INTRODUCTION
  2. RESEARCH DESIGN & SCOPE
  3. EXECUTIVE SUMMARY
  4. MARKET DYNAMICS
  5. INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS
  6. GLOBAL SMART PORT MARKET BY COMPONENT, Market Size in USD Million (2018—2027)
  7. GLOBAL SMART PORT MARKET BY SOLUTION, Market Size in USD Million (2018—2027)
  8. GLOBAL SMART PORT MARKET BY TECHNOLOGY, Market Size in USD Million (2018—2027)
  9. GLOBAL SMART PORT MARKET BY PORT TYPE, Market Size in USD Million (2018—2027)
  10. GLOBAL SMART PORT MARKET BY REGION, Market Size in USD Million (2018—2027)
  11. COMPETITIVE LANDSCAPE
  12. COMPANY PROFILES
  13. APPENDIX

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