Press release
Smart Ports Market Size And Strategies 2024-2033 - Growth Analysis, Outlook, Overview
Smart Ports Market
The Business Research Company presents an extensive market research report on the Smart Ports Global Market Report 2024 , furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The smart ports market size has grown exponentially in recent years. It will grow from $2.14 billion in 2023 to $2.64 billion in 2024 at a compound annual growth rate (CAGR) of 23.3%. The growth in the historic period can be attributed to global trade expansion, containerization trends, environmental sustainability initiatives, demand for enhanced security, automation for operational efficiency.
The smart ports market size is expected to see exponential growth in the next few years. It will grow to $5.8 billion in 2028 at a compound annual growth rate (CAGR) of 21.8%. The growth in the forecast period can be attributed to integration with IoT and connectivity, focus on predictive analytics, renewable energy integration. Major trends in the forecast period include smart container tracking and visibility, cybersecurity measures for port infrastructure, digital twin technology for port planning, AI-powered traffic management, collaborative platforms for stakeholder engagement.
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Key Market Players:
Major companies operating in the smart ports market report are Microsoft Corporation, Mitsui & Co Ltd., Robert Bosch GmbH, Hitachi Ltd., GE Digital, IBM Corporation, Cisco Systems Inc., Denso Corporation, Huawei Technologies Co Ltd., SAP SE, ABB Ltd., Ericsson AB, Atos SE, Wipro Limited, IIC Technologies Corporation, Dassault Systèmes S.A., Konecranes Plc, TÜV SÜD AG, Trelleborg AB, Abu Dhabi Ports Company, Kalypso, Ramboll Group A/S, China Merchants Port Holdings Company, LG CNS Co Ltd., C-PORT, Awake.AI Inc., DHL Supply Chain, DNV GL AS, Ikusi Redes de Telecomunicaciones S.L., NEC Corporation, NTT DATA Corporation, Oracle Corporation, PORT OF ROTTERDAM AUTHORITY, Royal HaskoningDHV NV, Siemens AG, Yokogawa Electric Corporation
Market Drivers:
The encouragement and participation from governments all over the world in the form of initiatives will propel the growth of the smart port market. Growing concerns about climate change have pushed governments across the world to adopt sustainable development projects to reduce carbon footprint and increase efficiency. To implement digitization, governments are encouraging the adoption of technologies such as big data, artificial intelligence, and the Internet of Things (IoT) in the ports sector. For example, the Port of Hamburg in Germany adopted the Internet of Things and other smart port technologies by using data sources to feed to a single platform to increase logistics efficiencies. Therefore, the increasing number of government initiatives drives the smart ports market growth.
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https://www.thebusinessresearchcompany.com/report/smart-ports-global-market-report
The smart ports market covered in this report is segmented -
1) By Port Type: Seaport, Inland Port
2) By Element: Terminal Automation And Cargo Handling, Port Community System (PCS), Traffic Management System (TMS), Smart Port Infrastructure, Smart Safety And Security
3) By Technology: Internet Of things (IoT), Blockchain, Process Automation, Artificial Intelligence
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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