Global Smart Ports Market is accounted for $1.74 billion in 2021 and is expected to reach $7.84 billion by 2028 growing at a CAGR of 24.0% during the forecast period. A smart port is an automated maritime facility that uses big data, blockchain, the internet of things (IoT), and other smart technology-based methods to improve performance and economic competitiveness. It consists of digitized infrastructure that offers a wide range of benefits, such as low human-related disruptions, superior decision making, predictable performance, and lower operational expenses. Smart ports function more smoothly than their traditional counterparts due to the flow created by the automation process.
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By geography, Europe is projected to hold the largest market share during the forecast period. The existing ports in Europe are no longer able to compete on size and a strong need to shift towards smart operations is required thereby driving the market during forecast year. Additionally, faster delivery speeds and lower costs of these ports is further propelling the market in the region. Within Europe, Germany is forecast to grow at a rapid phase during the forecast period.
Some of the key players profiled in the Smart Ports Market include ABB, Abu Dhabi Ports, Accenture, General Electric, IBM, Ikusi Velatia, Port of Rotterdam, Port Solutions, Ramboll Group, Royal Haskoning, Scientific Enterprises, Trelleborg, and Wipro.
Throughput Capacities Covered in Smart Ports Market
• Extensively Busy Ports (Above 18 million TEU)
• Moderately Busy Ports (5–18 million TEU)
• Scarcely Busy Ports (Below 5 million TEU)
Port Types Covered:
• Inland Port
• Seaport
Technologies Covered:
• Artificial Intelligence (AI)
• Blockchain
• Internet of Things (IoT)
• Process Automation
Elements Covered:
• Traffic Management System (TMS)
• Smart Port Infrastructure
• Terminal Automation & Cargo Handling
• Port Community System (PCS)
• Smart Safety & Security
• Port Infrastructure
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