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 : May, 2020 | Energy & Mining | PPT format

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 study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.

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