Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "Global Smart Ports Market 2030 by Components, Technology Type, Throughput, Port Type, Element and Region - Partner & Customer Ecosystem Competitive Index & Regional Footprints" report has been added to ResearchAndMarkets.com's offering.
The global Smart Ports Market is poised for significant expansion over the next seven years, with an anticipated increase from USD 1.8 billion in 2022 to an impressive USD 10.4 billion by 2030. This substantial growth, estimated at a CAGR of 24.8% during the forecast period of 2023-2030, signals a dynamic transformation in port management operations worldwide.
Smart Ports, innovatively utilizing technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), and Blockchain, are expected to dramatically enhance port efficiency and sustainability. As the trade volumes soar, the integration of these advanced solutions becomes critical for improving processes, driving down operational costs, and promoting environmental sustainability.
The Asia Pacific region is slated to dominate the Smart Ports landscape, anticipated to experience rapid growth due to its robust trade activity and the presence of high-throughput ports. Countries in the region are adopting smart port technologies to boost productivity, with a strong emphasis on cutting emissions and aligning with greener policies.
Process automation is projected to capture a majority market share during the forecast period, as cloud-based software and automated machinery become integral to port operations. Advanced technologies underpin the efficiency gains, from real-time asset monitoring to automated gate operations, streamlining workflows and yielding cost efficiencies.
The Smart Ports Market research delves into each segment with a fine-tooth comb to offer a comprehensive overview of the current and future market dynamics. It presents a detailed competitive landscape, highlighting market shares, industry rankings, and player strategies that are central to understanding the evolution of smart port operations.
Policymakers, investors, and stakeholders in the global Smart Ports ecosystem can leverage the insights from this report to harness opportunities and reinforce their market presence. The research underscores the pivotal role of smart technology in streamlining port functions, ensuring a more sustainable and cost-effective future for the shipping industry.
With such a significant leap in market valuation projected, the Smart Ports sector is undoubtedly moving towards a smarter, more streamlined future, echoing advancements in technology and shifts in global trade patterns.
Key Segments Driving Market Growth
- Hardware
- Software
- Services
- Process Automation
- Blockchain
- Internet of Things (IoT)
- Artificial Intelligence (AI)
- High Throughput Ports
- Low Throughput Ports
- Seaport
- Inland Port
- Terminal Automation & Cargo Handling
- Port Community Systems (PCS)
- Smart Safety & Security
- Traffic Management Systems (TMS)
Companies Mentioned
- Royal Dutch Shell plc
- IBM Corporation
- Wärtsilä Corporation
- Navis LLC
- Trelleborg AB
- Kongsberg Gruppen AS
- Cisco Systems, Inc.
- Liebherr-International AG
- Abu Dhabi Ports Company
- Port of Rotterdam
- Port of Singapore
- Intel Corporation
- Huawei Technologies Co., Ltd.
- ABB Ltd.
- Yokogawa Electric Corporation
For more information about this report visit https://www.researchandmarkets.com/r/p6zn52
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