Automated Port Terminals Market Share, Performance Statistics And Future Trends

Despite significant strides in automotive, mining, and construction, automation continues to lag behind in ports. However, with the advent of new suitable technology, the automated port terminals market is poised to embed far more technology in the near future. The automated port terminals include five key components. Among these are automation in equipment, equipment-control automation, and terminal tower control.

Automated equipment has become a necessity for port terminals despite high initial investment costs and many a times, low factor costs. The automation is equipment makes way for stable and smooth operations in yard operations, ship to shore, gate automation, and ground transportation. There are several projects around the world where these are implemented successfully and its importance continues to rise as, thanks to the added consistency and efficiency to operations.

The automation in port terminals also includes equipment-control systems. These systems are designed to make operations smoother and gather important information that lead to better decision making. Although there is no easy-fit for equipment of various kinds with a wide range of surfaces, however automation in tasks like gate-operating is making ways for advanced sophistication which is essential. The automatic identification of containers and trucks makes way for a much smoother experience both for suppliers as well as port authorities.

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The control tower is in many ways the brain behind the smooth-functioning of ports. Automation in this area can go a long way in coordinating and optimizing workflow management, forecasting, and gaining crucial control over critical objectives. The new fields such as Big Data and Artificial Intelligence are making ways for better forecasting and analytics. This is expected to drive better human-machine interactions and better relationship with the port community as a whole.

The automation in port is gaining momentum for growth for the automated port terminals market as benefits become clearer to port authorities and governments like the US, India, and China invest large sums to upgrade port facilities for a better global commerce.

Automated Port Terminals Market: Introduction

Automated port terminals can be defined as the integrated system for automation in the operation of ports. It consists of advance analytics, digital platforms, decision-making tools, terminal operating systems, and an automated interface with customers and the port community. Automated port terminals are generally safer than the conventional port terminals as it eliminates the risk of accidents and makes the work more predictive.

The initial capital expenditure on automated port terminals systems is rather high; but the operational efficiency for long term sustainability is high. Automation within port terminals have the ability to generate more value to customers as well as to the port community with the extensive adoption of Industry 4.0.

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Global Automated Port Terminals Market – Dynamics

Drivers

Increasing Adoption of Digitally Framed Structures in Maritime Industry for Regular Operations is driving the Automated Port Terminals Market

Adoption of digitization in the maritime industry is increasing rapidly. The major reason for the adoption is increased productivity, value addition, and minimizing the risk of human errors as well as accidents. Operation cost can drastically be reduced in the long run with the adoption of automation in port terminals. The benefits of adopting automation in port terminals with reduced cost is driving the demand for automated port terminals.

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Rising Focus on Industry 4.0 by Governments

The government of China and India has increased the focus on digitization within industries which is critically important for economic growth. Maritime industry is one of the largest industries across the globe which helps governments to generate revenue in terms of taxes with higher efficiencies. Demand for automated port terminals is increasing with the increased focus on digitization by governments.

Restraints

High Initial Cost of Investment

The initial cost of investment for installation & implementation of automated port terminals is comparatively high. The high cost also includes the downtime cost of the port in which the productivity of the port reduces for short periods of time due to integration of the whole operational system. The high cost of initial investment in this system could hamper the growth of the automated port terminals market.

Europe Expected to Dominate the Market in Terms of Size

In terms of region, the global automated port terminals market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Europe is expected to dominate the automated port terminals market, as it is the most dominating region in the logistics industry and the adoption of automation is comparatively high in the maritime sector.

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This release was published on openPR.