Global Smart Ports Market- Global Forecast To 2024
The process automation segment, by technology, is expected to be the largest contributor to the smart ports market during the forecast period.
The report segments the smart ports market, by technology, into the Internet of Things (IoT), Blockchain, Process Automation, Artificial Intelligence. The process automation segment is projected to hold the largest market share by 2024.
Smart ports, as a part of process automation, generally deploy cloud-based software to assist, the automation process, in creating the operational flow that helps the port function smoothly. Currently, most of the ports across the world have technology integrated to some extent, if not for complete management. However, there has been a gradual increase in the number of smart ports, thanks to global government initiatives and the exponential growth of maritime trade.
The degree of automation differs from port to port, depending on the capacity of the port, its location, the amount of cargo it handles, and its economic value. With the growth of mega-ports, the scope of port automation is expected to increase to an unprecedented level.
The extensively busy segment is expected to be the fastest growing market during the forecast period.
The smart ports market, by throughput capacity, is segmented into extensively busy, and moderately busy, and scarcely busy. This segmentation has been achieved after carefully analyzing the handling capacity of the ports in terms of twenty feet equivalent (teu). The extensively busy ports reel in revenues and therefore have a higher potential to invest in implementing smart technologies and solutions in the ports, converting them to smart ports, to improve traffic handling and efficiency.
The Asia Pacific is expected to be the largest market during the forecast period.
In this report, the smart ports market has been analyzed with respect to five regions, namely, North America, Europe, South America, Asia Pacific, and the Middle East & Africa. Asia Pacific is estimated to be the largest market from 2019 to 2024.
Increasing industrialization is likely to be a key component driving the market in Asia Pacific. The developing economies are expected to give more thrust to the smart ports market. Globally, the bulk of trade has seen a gradual increase over the past few years. Thus, countries like Singapore and Hong Kong form the trade corridor opening the regions’ trade opportunities. This, along with the availability of technology in cheap tech countries like China and Taiwan, will surely positively boost the market in this region.
Key Market Players
The major players in the global smart ports market are Royal Haskoning (The Netherlands), IBM (USA), ABB (Switzerland), Trelleborg AB (Sweden), Port of Rotterdam (The Netherlands), and Abu Dhabi Ports (UAE).
ABB (Switzerland) is a key player in this segment. ABB aims to position itself as a customer-focused technology solution provider in digital industries. ABB has achieved autonomous shipping through new intelligent autopilot, ABB Ability Marine Pilot Control (AMPC) to enhance the efficiency and productivity of the ports. The company offers inorganic business growth strategy. For instance, in 2018, ABB and the Shanghai government entered into a collaborative agreement aiming to support its technology innovation center. ABB plans to serve the shipbuilding and port construction facilities in Shanghai with its leading products, systems, and solutions in the marine and ports industry. In the case of the shipping industry, ABB aims to offer an extensive portfolio of integrated marine systems and solutions that improve the flexibility, reliability, and energy efficiency of port equipment.
Another noteworthy name in this segment is of Accenture Port Solutions (Ireland). The company focuses on technology differentiation & product innovation to deliver value for its clients. Their business is focused on providing end-to-end capabilities at a scale across the full spectrum of professional services spanning strategy, consulting, digital, technology, and operations. The company is mainly focusing on providing inorganic business growth strategy. For instance, in 2018, Accenture was awarded a contract for implementing Industrial IoT (IIoT) services in Jurong Port. Its project contract deliverables include performance value, Internet of things (IoT), PoC, high- performance bulk/break-bulk port benchmark, operating model with OR capabilities. The company is also laying measures for risk mitigation and improved business planning through sensitivity analysis and scenario modeling.
2 Research Methodologies
3 Executive Summaries
4 Premium Insights
4.1 Attractive Opportunities in the Smart Ports Market During the Forecast Period
4.2 Smart Ports Market, By Region
4.3 Smart Ports Market, By Technology
4.4 Smart Ports Market, By Element
4.5 Smart Ports Market, By Throughput Capacity
4.6 Smart Ports Market, By Port Type
5 Market Overview
5.2 Market Dynamics
6 Smart Ports Market, By Element
6.2 Terminal Automation & Cargo Handling
6.3 Port Community System
6.4 Traffic Management System
6.5 Smart Port Infrastructure
6.6 Smart Safety & Security
7 Smart Ports Market, By Throughput Capacity
7.2 Extensively Busy (More Than 18 Million Teu)
7.3 Moderately Busy (5–18 Million Teu)
7.4 Scarcely Busy (Less Than 5 Million Teu)
8 Smart Ports Market, By Technology
8.2 Process Automation
8.3 Internet of Things
8.4 Artificial Intelligence
9 Smart Ports Market, By Port Type
10.2 Asia Pacific
10.4 North America
10.5 South America
10.6 Middle East & Africa
11 Competitive Landscape
12 Company Profiles
(Business Overview, Financials, Products & Services, Recent Developments)*
12.1 Port of Rotterdam
12.3 Royal Haskoning
12.6 General Electric
12.7 Abu Dhabi Ports
12.1 Ramboll Group
12.11 Ikusi Velatia
12.12 Port Solutions
12.13 Scientific Enterprises
*Details Might Not Be Captured in Case of Unlisted Companies.