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Smart Ports Market (Technology - IoT, Blockchain, and Artificial Intelligence (AI); Elements - Terminal Automation, PCS, and Others; Port Type - Seaport, and Inland Port): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : June, 2021

  • Rep Id : AT00225

  • Category : Automotive, Aerospace & Defence

  • Status : Published

A recent report published by Infinium Global Research on smart ports market provides in-depth analysis of segments and sub-segments in the global as well as regional smart ports market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional smart ports market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global smart ports market. According to the report, the global smart ports market is projected to grow upto USD 5 Billion in 2026 from USD 1.5 Billion in 2020 with a CAGR of 22.3% over the forecast period of 2020-2026.

 

Market Insight

Smart ports use innovative technologies and automation to optimize their operations. A well-built digital infrastructure helps ports optimize their physical infrastructure as well as predict and prepare for future investment and maintenance needs.  Better solutions for data storage and sharing enable more transparent, compliant, safer, and faster transport management. The port industry has reached the consensus that ports are transforming from the mechanical era into the era of AI when AI enables ports to become smarter.

 

However, entire maritime operations from shipyards to carriers of bulk commodities have been affected due to pandemic. A restriction by countries at the ports like a ban on crew changes is disrupting global supply chains. As different countries are in various stages of lockdowns, this affects the port congestion with cargo and containers. Offshore drilling in many countries has also been affected due to the crisis. This largely affects the smart ports market. A growing need for real-time information is driving the growth of the smart ports market. The smart port uses solutions such as regulations, standards, employee training, and periodic control of facilities, risk assessment, proper designs, and monitoring systems to detect any security issue, increase port preparedness, and improve resilience.

 

Overall port performance in this sense is measurable through exploring port safety management systems, security management systems, and integrated monitoring and optimization systems. It further, gathers better-educated individuals, skilled workforces, intelligent infrastructures, and automation to facilitate knowledge development and sharing, optimize the port operations, enhance the port resiliency, lead sustainable development, and guarantee safe and secure activities. Additionally, rising environmental concern is to boost the growth of the market. The fast and easy flow of this information facilitates wise and well-informed decision-making by port authorities and port customers. This ultimately brings increased productivity, fewer costs, high market competition ability for the port, less emission, energy efficiency, and green logistics. In addition, automatized machinery can replace the human workforce in ports and reduce existing human errors, safety issues, port congestions, and turnaround time as well as increasing operations efficiency. However, the limited availability of a skilled workforce is affecting the growth of the market. Moreover, government Initiatives toward Smart Infrastructure/Port will provide a significant growth opportunity for the market.

 

The Asia Pacific holds the largest market share in the smart ports market. Rapid industrialization is contributing to the growth of the smart port market in this region. The high growth of the various industries in this region will improve marine operations in this region. Moreover, companies are investing to develop new solutions to the smart port. For instance, In February 2019, Ericsson and China Unicom, has jointly announced that the development of 5G smart harbor at the Port of Qingdao in China. This further contributes to the growth of the market in this region.

 

Segment Covered

The report on global smart ports market covers segments such as technology, elements, and port type. On the basis of technology, the sub-markets include IoT, blockchain, and artificial intelligence (AI). On the basis of elements, the sub-markets include terminal automation, PCS, and others. On the basis of port type, the sub-markets include seaport, and inland port.

 

Companies Profiled:

The report provides profiles of the companies in the market such as IBM Corp, Royal Haskoning, Trelleborg AB, Port of Rotterdam, Abu Dhabi Ports, Accenture, Awake.AI, Ramboll Group A/S, and Others.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of smart ports market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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