Smart Port Market: Summary
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
- 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.
- 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.
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.
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.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2020-2027 (2020 estimated year, forecasted up to 2027)
Value (USD Million)
Component, Solution, Technology, Port Type, and Region
Asia-Pacific, Europe, Middle East and Africa, South America and North America
Key Companies Covered
- 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.
- 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
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
Smart Port Market, by Technology
- Internet of Things (IoT)
- Big Data
- Artificial Intelligence (AI)
Smart Port Market, by Port Type
- Intermodal Terminal
- Local Trade
Smart Port Market, by Region
- South Korea
- Rest of Asia-Pacific
- North America
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- 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?
- Smart Port Market Providers
- Smart Port Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Smart Port Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE SMART PORT MARKET STUDY
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Regional Coverage
1.5 Research Timeline
2 RESEARCH DESIGN & SCOPE
2.2 Primary Research
2.2.1 Key Industry Expert Insight
2.3 Secondary Research
2.3.1 Vital Data from Secondary Sources
2.4 Market Size Estimation
2.5 Data Validation & Triangulation
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.2.1. Demand for Operational Efficiency at Ports
4.2.2. Implementation of Cloud Computing to Reduce Carbon Emission
4.3.1 High Initial Investment
4.4.1. Encouraging Government Policies
4.5.1. Cyberattacks Issue
5 INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS
5.1.1. Power of Buyers
5.1.2. Power of Suppliers
5.1.3. Intensity of Competition
5.1.4. Challenges of Substitutes
5.1.5. Challenges of New Entrants
5.2 Macro-Economic Indicators
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)
7.2 Single-window Custom
7.3 X-ray Scanning
7.4 Smart Cargo-handling System
7.5 Gate Automation
7.6 Traffic-monitoring System
7.7 Asset Health Monitoring
7.8 Biometric Access Control System
8 GLOBAL SMART PORT MARKET BY TECHNOLOGY, Market Size in USD Million (2018—2027)
8.2 Internet of Things (IoT)
8.3 Big Data
8.4 Artificial Intelligence (AI)
9 GLOBAL SMART PORT MARKET BY PORT TYPE, Market Size in USD Million (2018—2027)
9.3 Intermodal Terminal
9.4 Local Trade
10 GLOBAL SMART PORT MARKET BY REGION, Market Size in USD Million (2018—2027)
10.1 North America
10.2.5 Rest of Europe
10.3.4 South Korea
10.3.5 Rest of Asia-Pacific
10.4 Middle East and Africa
10.4.1 Saudi Arabia
10.4.3 Rest of Middle East and Africa
10.5 South America
10.5.3 Rest of South America
11 COMPETITIVE LANDSCAPE
11.2 Market Ranking/Share Analysis of Key Companies
11.3 Company Benchmarking
12 COMPANY PROFILES
12.1 IBM Corporation
12.1.1 Company Overview
12.1.2 Financial Overview
12.1.3 Products/Solutions/Services Offered
12.1.4 Key Developments
12.1.5 SWOT Analysis
12.2 Trelleborg Marine and Infrastructure
12.3 Royal HaskoningDH
12.4 Accenture Plc
12.5 General Electric Company
12.6 ABB Ltd.
12.8 Scientific Enterprises Ltd
12.9 Ikusi Redes de Telecomunicaciones, S.L
12.10 AGT International
12.11 Other Key Companies
13.1 Key Industry Expert Insights
13.2 Primary Discussion Guide
13.3 Customization Options
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY