The future of the smart port market looks promising with opportunities in the seaport and inland port markets. The global smart port market is expected to reach an estimated $7.0 billion by 2028 with a CAGR of 25.4% from 2023 to 2028. The major drivers for this market are growing demand to enhance the efficiency of port operations and reduction of carbon footprint, rising demand for real-time information and supply chain visibility, and increasing government investment towards upgradation of port infrastructure.
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Answer: The global smart port market is expected to reach an estimated $7.0 billion by 2028.
Q2. What is the growth forecast for smart port market?
Answer: The global smart port market is expected to grow with a CAGR of 25.4% from 2023 to 2028.
Q3. What are the major drivers influencing the growth of the smart port market?
Answer: The major drivers for this market are growing demand to enhance the efficiency of port operations and reduction of carbon footprint, rising demand for real-time information and supply chain visibility, and increasing government investment towards upgradation of port infrastructure.
Q4. What are the major segments for smart port market?
Answer: The future of the smart port market looks promising with opportunities in the seaport and inland port markets.
Q5. Who are the key smart port companies?
Answer: Some of the key smart port companies are as follows:
Answer: The analyst forecasts that internet of things (IoT) is expected to remain the largest technology segment over the forecast period because of growing adoption of digitalization coupled with rising need for incorporating IoT into port operations.
Q7. In smart port market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest segment over the forecast period increasing investment in ports for new technologies, like artificial intelligence and blockchain, and strong development in trade business in countries, like Singapore and Hong Kong.
Q8. Do we receive customization in this report?
Answer: Yes, the analyst provides 10% Customization Without any Additional Cost.
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity did occur in the last five years and how did they impact the industry?
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A more than 150-page report is developed to help in your business decisions.
Smart Port Market by Segment
The study includes trends and forecast for the global smart port market by element, technology, throughput capacity, port type, and region, as follows:Smart Port Market by Element [Shipment Analysis by Value from 2017 to 2028]:
- Terminal Automation & Cargo Handling
- Port Community Systems (PCS)
- Smart Safety & Security
- Traffic Management Systems (TMS)
- Smart Port Infrastructure
Smart Port Market by Technology [Shipment Analysis by Value from 2017 to 2028]:
- Process Automation
- Internet of Things (IoT)
- Artificial Intelligence (AI)
- Blockchain
Smart Port Market by Throughput Capacity [Shipment Analysis by Value from 2017 to 2028]:
- Extensively Busy Ports
- Moderately Busy Ports
- Scarcely Busy Ports
Smart Port Market by Port Type [Shipment Analysis by Value from 2017 to 2028]:
- Seaports
- Inland Ports
Smart Port Market by Region [Shipment Analysis by Value from 2017 to 2028]:
- North America
- Europe
- Asia Pacific
- The Rest of the World
List of Smart Port Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, smart port companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the smart port companies profiled in this report include-- Abu Dhabi Ports
- Accenture
- ABB
- Cisco
- General Electric
- IBM
- Navis
- Ramboll Group A/S
- Royal Haskoning
- Siemens
- Trelleborg
- Wipro
Smart Port Market Insights
- The analyst forecasts that internet of things (IoT) is expected to remain the largest technology segment over the forecast period because of growing adoption of digitalization coupled with rising need for incorporating IoT into port operations.
- Within this market, seaports will remain the larger port type segment as seaports have been equipped with powerful digital technology, smart sensors, and IoT, which helps in enhancing the operational productivity and also makes cargo management easier for the port authorities.
- APAC will remain the largest segment over the forecast period increasing investment in ports for new technologies, like artificial intelligence and blockchain, and strong development in trade business in countries, like Singapore and Hong Kong.
Features of the Smart Port Market
- Market Size Estimates: Smart port market size estimation in terms of value ($B)
- Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
- Segmentation Analysis: Smart port market size by various segments, such as by element, technology, throughput capacity, port type, and region
- Regional Analysis: Smart port market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
- Growth Opportunities: Analysis on growth opportunities in different elements, technologies, throughput capacities, port types, and regions for the smart port market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape for the smart port market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQS
Q1. What is the smart port market size?Answer: The global smart port market is expected to reach an estimated $7.0 billion by 2028.
Q2. What is the growth forecast for smart port market?
Answer: The global smart port market is expected to grow with a CAGR of 25.4% from 2023 to 2028.
Q3. What are the major drivers influencing the growth of the smart port market?
Answer: The major drivers for this market are growing demand to enhance the efficiency of port operations and reduction of carbon footprint, rising demand for real-time information and supply chain visibility, and increasing government investment towards upgradation of port infrastructure.
Q4. What are the major segments for smart port market?
Answer: The future of the smart port market looks promising with opportunities in the seaport and inland port markets.
Q5. Who are the key smart port companies?
Answer: Some of the key smart port companies are as follows:
- Abu Dhabi Ports
- Accenture
- ABB
- Cisco
- General Electric
- IBM
- Navis
- Ramboll Group A/S
- Royal Haskoning
- Siemens
- Trelleborg
- Wipro
Answer: The analyst forecasts that internet of things (IoT) is expected to remain the largest technology segment over the forecast period because of growing adoption of digitalization coupled with rising need for incorporating IoT into port operations.
Q7. In smart port market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest segment over the forecast period increasing investment in ports for new technologies, like artificial intelligence and blockchain, and strong development in trade business in countries, like Singapore and Hong Kong.
Q8. Do we receive customization in this report?
Answer: Yes, the analyst provides 10% Customization Without any Additional Cost.
This report answers the following 11 key questions
Q.1. What are some of the most promising, high-growth opportunities for the global smart port market by element (terminal automation & cargo handling, port community system, smart safety & security, traffic management system, and smart port infrastructure), technology (process automation, internet of things (IoT), artificial intelligence, and blockchain), throughput capacity (extensively busy ports, moderately busy ports, and scarcely busy ports), port type (seaports and inland ports), and region (North America, Europe, Asia Pacific, and the Rest of the World)?Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity did occur in the last five years and how did they impact the industry?
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Table of Contents
1. Executive Summary
2. Global Smart Port Market: Market Dynamics
3. Market Trends and Forecast Analysis from 2017 to 2028
4. Market Trends and Forecast Analysis by Region from 2017 to 2028
5. Competitor Analysis
6. Growth Opportunities and Strategic Analysis
7. Company Profiles of Leading Players
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Abu Dhabi Ports
- Accenture
- ABB
- Cisco
- General Electric
- IBM
- Navis
- Ramboll Group A/S
- Royal Haskoning
- Siemens
- Trelleborg
- Wipro
Methodology
The analyst has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets/applications and served over 1,000 clients worldwide. Each study is a culmination of four months of full-time effort performed by the analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in the market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of professionals, who have analyzed and tracked the market over the years.
Extensive research and interviews are conducted in the supply chain of the market to estimate market share, market size, trends, drivers, challenges and forecasts.
Thus, the analyst compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. The analyst then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process.
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