DUBLIN–(BUSINESS WIRE)–The “Global Smart Ports market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025” report has been added to ResearchAndMarkets.com’s offering.
Global smart ports market is expected to reach ~$2 billion by the end of 2025, and the market will be driven by the growing need from ports for reducing time and cost of shipping through digital transformation.
Smart ports are automated ports that use high-end smart technologies including AI, IoT, Big Data, and blockchain for improving performance and efficiency of the shipping industry. Smart ports record and monitor data and utilizes them to take better decisions. Growth in trade worldwide due to economic liberalization has led to an increase in the size of freighter ships for accommodating more cargo. With the size of freighter ships getting high, ports must adapt their planning based on requirement, which is easier if digitalization is implemented.
In shipping industry, ports provide land and related services for port terminal operators. Some of the major ports for cargo exchange are Port of Shanghai, Port of Singapore, Port of Suzhou, Port of Guangzhou, Port of Tangshan, Port of Rotterdam, and Port of Busan. The main objective of the port terminal operator is to help freighter ships minimize their time in the ports by optimizing the flow of goods and getting a quicker customs clearance.
Some of the major port terminal operators are Cosco Group, Hutchison Port, DP World, PSA International, China Merchant Port Holdings, APM Terminals, and Terminal Investment. Smart port, especially with the implementation of IoT influences the work schedule and operations at a port terminal operator level as well as the port level. For port authorities, IoT helps to provide better efficiency, reliability, and lower costs which can help to attract more clients including port terminal operators.
IoT helps port terminal operators by providing better traceability and time savings. With smart ports, getting wide adoption the future will be more focused on the smartness level of the port rather than the size of the port, since smart ports will be the most preferred option for many freighter ships due to its smartness, time saving, and efficient operations. Implementation of IoT has helped the shipping industry to develop a better business model through the inclusion of subscriptions, apps, and XaaS.
Smart port implementation requires several steps. First step involves designing a strategy for smart port implementation. Since every port handles different type of cargo, smart port implementation requires different strategies based on port requirement. Second process involves understanding the major drawbacks of the traditional systems and addressing those. Next step, which is the last major step in the process involves the decision-making process of choosing a readymade technology or a custom solution.
Some of the major smart ports (including underway projects) are Port of Rotterdam, Port of Hamburg, Port of Singapore, Port of Shanghai, Port of Los Angeles, Port of San Diego, and Port of Shenzhen.
Major vendors in the global smart ports market are Trelleborg, IBM, ABB, Traxens, Siemens, Liebherr, AGT Group, Kerry Logistics, Huawei, Cisco, Nokia, Ericsson, Konecranes, Navis, Kalmar, ProDevelop, Inform, and Wrtsil.
According to the author, the global smart ports market will grow at a CAGR of ~18% during the forecast period 2019-2025. The aim of this report is to define, analyze, and forecast the global smart ports market based on segments, which include ports, components, throughput, and region.
Key Topics Covered:
1 Executive Summary
2 Industry Outlook
2.1 Industry Snapshot
2.1.1 Industry Trends
3 Market Snapshot
3.1 Total Addressable Market
3.2 Segmented Addressable Market
3.2.1 PEST Analysis
3.2.2 Porter’s Five Force Analysis
3.2.3 Related Markets
4 Market Characteristics
4.1 Market Ecosystem
4.2 Market Segmentation
4.3 Market Dynamics
184.108.40.206 Need for reducing cost and increasing efficiency at ports
220.127.116.11 Cyber security related threats
18.104.22.168 Development of autonomous ships
4.3.4 DRO – Impact Analysis
5 Global Smart Ports Market, By Ports
5.2 Sea Ports
5.3 Cargo Ports
6 Global Smart Ports Market, By Component
7 Global Smart Ports Market, By Throughput
7.2 High Throughput Ports
7.3 Low Throughput Ports
8 Global Smart Ports Market, By Region
8.2.3 South Korea
8.2.4 Rest of APAC
8.3 North America
8.4.4 Rest of Europe
9 Competitive Landscape
9.1 Competitor Analysis
9.3 Market Developments
9.3.1 Mergers & Acquisitions (M&A)
9.3.3 Business Restructuring
10 Vendors Profiles
10.1.1 Analyst Opinion
10.1.2 Business Analysis
10.7 AGT Group
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