Smart Ports Market: Current Analysis and Forecast 2021-2027

Ports around the globe have gone through a structural and functional evolution over the past decades. Currently, a wave of technological innovation & integration is encouraging industries and businesses to digitally transform and become more data, and insight-driven, the port industry is no exception. The first generation of ports were known as loading and unloading ports, then came second generation industrial ports. Logistic and supply chain ports which operated between 1980-2010, were labeled as third generation ports. Post 2010, smart ports came into operation. Smart ports are ports that autonomously process daily operations and optimize logistics flow, using new and advanced technologies. Technologies used for optimizing port operations includes AI, Big Data, IoT and Blockchain. For instance, China is promoting construction of smart port pilot projects at 11 ports at government level in four areas, including intelligent port operation, safety management improvement, logistics integration, and business model innovation.
Covid-19 pandemic has resulted a decline in growth of the smart ports industry, as countries around the world were forced to implement lockdowns during the first half of 2020. Strict guidelines and policies were issued by country governments and local authorities to halt all the non-essential activities. This have adversely affected the smart port market owing to the suspension of activities of end users. In addition, production and supply chain delays were also witnessed during the second quarter of 2020, which poised a challenge to the smart port market, since end-user industries were still not operating at their full capacity.
Insights Presented in the Report
"Amongst element, Smart Port Infrastructure segment dominated the market in 2020."
Based on element the global Smart Ports market is bifurcated into Terminal Automation & Cargo Handling, Port Community System (PCS), Traffic Management System (TMS), Smart Port Infrastructure, Smart Safety & Security. Smart port infrastructure segment dominated the market in 2020, as smart port infrastructure is the most intensive aspect of developing any port into a smart port.
"Amongst technology, IoT and AI would gain the major market share."
Based on technology the market is divided into IoT, Blockchain, Process Automation, Artificial Intelligence (AI). Within the transport and logistic sector, companies have started experimenting with a wide range of connectivity and data-enabled technologies. IoT technologies are applied in diverse settings, from last mile transport optimization to warehouse and transport management systems.
"Amongst capacity, Extensively busy ports (more than 18 million TEU) dominate the market."
Based on capacity, the market is bifurcated into ports handling above 18 million TEU, ports handling 5-18 million TEU and ports handling below 5 million TEU. Deployment of innovative digital technologies need huge upfront cost. Owing to huge initial cost requirement, large ports which handle containers in huge number dominates the market. Successful automated ports demonstrated that with proper planning and management, operating costs can be reduced by 25-50%, whereas efficiency could be increased by 10-35%. It has been observed that operating expenses at an automated port on average is reduced by 15-35%.
"Amongst Ports Type, Seaport segment generated highest revenue in 2020."
Based on port type, the market is bifurcated into seaport and inland ports. In 2020, smart seaports segment dominated the market. XX segment is expected to witness highest CAGR growth during the forecast period. Seaports ensure operational efficiency as they are equipped with smart technologies such as smart sensors and IoT, these technologies make cargo handling easy for port operators.
"Asia-Pacific represents as the largest markets in the Global Smart Ports Market."
For a better understanding of the market adoption, report provide detailed analysis for major region and countries including North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World. Asia-Pacific (Specifically China) dominated the market in 2020. Asia-Pacific handles more than 70% by volume of the global cargo at the ports per year. With advancement of new technologies, such as artificial intelligence, the Internet of things and big data-analytics, all new era of transport systems has immerged. Countries in the Asia-Pacific region are thus trying to shift their traditional transport system technologies towards more automated ones. Some of the major companies profiled in the report includes General Electric, IBM Corp, Ramboll Group A/S, Royal Haskoning, Trelleborg, Siemens, Accenture, ABB Limited, Wipro Limited, Navis LLC.
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- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
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- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
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- Deep dive country level analysis of the industry
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Ports around the globe have gone through a structural and functional evolution over the past decades. Currently, a wave of technological innovation & integration is encouraging industries and businesses to digitally transform and become more data, and insight-driven, the port industry is no exception. The first generation of ports were known as loading and unloading ports, then came second generation industrial ports. Logistic and supply chain ports which operated between 1980-2010, were labeled as third generation ports. Post 2010, smart ports came into operation. Smart ports are ports that autonomously process daily operations and optimize logistics flow, using new and advanced technologies. Technologies used for optimizing port operations includes AI, Big Data, IoT and Blockchain. For instance, China is promoting construction of smart port pilot projects at 11 ports at government level in four areas, including intelligent port operation, safety management improvement, logistics integration, and business model innovation.
Based on element the global Smart Ports market is bifurcated into Terminal Automation & Cargo Handling, Port Community System (PCS), Traffic Management System (TMS), Smart Port Infrastructure, Smart Safety & Security. In 2020, XX segment dominated the market, however, XX segment is expected to witness highest CAGR growth during the forecast period.
Based on technology the market is divided into IoT, Blockchain, Process Automation, Artificial Intelligence (AI). Currently, in 2020, XX segment dominated the market, however, XX segment is expected to witness highest CAGR growth during the forecast period.
Based on capacity, the market is bifurcated into ports handling above 18 million TEU, ports handling 5-18 million TEU and ports handling below 5 million TEU. Deployment of innovative digital technologies need huge upfront cost. Owing to huge initial cost requirement, large ports which handle containers in huge number dominates the market.
Based on port type, the market is bifurcated into seaport and inland ports. In 2020, XX segment dominated the market, however, XX segment is expected to witness highest CAGR growth during the forecast period.
For a better understanding of the market adoption, report provide detailed analysis for major region and countries including North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia and Rest of APAC), and Rest of World.
Some of the major players operating in the market include General Electric, IBM Corp, Ramboll Group A/S, Royal Haskoning, Trelleborg, Siemens, Accenture , ABB Limited, Wipro Limited, Navis LLC.