Smart Ports Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

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Smart Ports Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

Status : November, 2021 | Energy & Mining

Report Digest


Global Smart Ports Market: Overview

The marine industry is attuning itself to the changing dynamics of ports and bays. The digitisation of ports is accompanied by a number of challenges related to data management and tracking. However, these challenges can be resolved through a densely connected system of checks and balances. The need for smart ports stems from the growing number of commercial ships. Docking of ships on a smart port is easier relative to ports with traditional docking systems.

The load time of ships is an important consideration for port operators and managers. Delays in loading can disrupt the overall functionality of a port. Hence, digital outlay of ports has become a quintessential requirement in recent times. It is expected that the global smart ports market would expand in size over the forthcoming years. Furthermore, port operators are emphasizing on the pros of eliminating paper-based documentation in this sector. This factor has also turned heads towards the global smart ports market.

A research report on the global smart ports market reveals key points of information about market growth. The global smart ports market can be segmented on the basis of the following parameters: technology, elements, and region. The demand for smart port infrastructure is rising at the back of increased customization in the marine industry.

Global Smart Ports Market: Notable Developments

Growth of offshore operations has created a large playfield of opportunities for vendors in the global smart ports market.

  • Deloitte has emerged as an important provider of smart port development services. The company focuses on breaking away from the norms of standardization in port development. On the contrary, Deloitte emphasizes on the scalability of ports and their potential to undergo complete digitisation. Each port has a given capacity of digitisation that needs to be considered while instituting smart technologies. This strategy is expected to steer the deployment of smart port technologies across major ports.
  • British Ports Association, in collaboration with industry experts and innovators, developed a thought leadership programme called ‘Port Futures’. The program aims to highlight the importance of connected and smart ports. Furthermore, ecological and economic deadlocks pertaining to ports can also been addressed through the program.

Names of some of the prominent market vendors are listed below:

  • Royal Haskoning
  • ABB
  • Trelleborg AB
  • Port of Rotterdam

Global Smart Ports Market: Growth Drivers

  • Need for Integration of Supply Chains

Ports are connected to a heterogenous mix of supply chains belonging to a wide range of industries. Hence, physical and virtual networks are characteristic of all major ports. Deployment of smart technologies can help in managing herculean tasks across ports. Therefore, the global smart port market is set to expand at a boisterous pace.

  • Operational Excellence and New Business Opportunities

Apart from reducing manual labour, port operators can also expand their operations to new areas through deployment of smart technologies. Furthermore, operations across ports can be streamlined by inducting smart management systems. Insight-driven solutions across ports can be a source of fresh revenue and business for port operators and stakeholders. Hence, digitization of ports is a trend that shall gather momentum in the years to follow.

  • Managing Large Vessels

Digitization of ports entails substantial cost benefits, and this factor has majorly influenced the growth of the global market. Furthermore, the need for managing large-size cargos and vessels also necessitates digitisation of ports. Smart solutions and technologies are gradually pervading all key industries. The interconnectivity of port-based operations with other industries has also driven market demand.

The global smart ports market is segmented as:

By Technology

  • IoT, Blockchain
  • Process Automation
  • Artificial Intelligence (AI)

Elements

  • Terminal Automation
  • PCS
  • Smart Port Infrastructure
  • Others

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

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5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?