Contact Us
Phase-Xs | Biologics & Biosimilars | Coherent Market Insights

Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Market Overview

A smart port refers to an automated port that utilizes innovative technologies namely the Internet of Things (IoT), artificial intelligence (AI), and Blockchain to augment its performance. Since the volume of trade is rising significantly, adopting such novel technologies have become critical, in order to improve internal efficiency and operations. Smart ports can also improve environmental sustainability as it incorporates the aforementioned technologies. Besides, smart ports can remain economically competitive, streamline workflow, and reduce costs.

The global Smart Ports Market was accounted for US$ 1,793.8 Mn in terms of value in 2019 and is expected to grow at CAGR of 27.7% for the period 2020-2027.

Market Dynamics- Drivers

  1. Rising emphasis on minimizing operational expenses is expected to drive growth of the global smart ports market during the forecast period

The global trade is increasing at a rapid pace with increased vessel size, traffic at ports, and cargo volumes. This, in turn, has increased workloads on shipyards and ports. According to the United Nations Comtrade (UN Comtrade), in 2018, the U.S. recorded the total trade of over US$ 949 billion, which is the most across the globe. Such rising trade requires operational efficiency with a streamlined workflow. Smart ports incorporate novel and cutting edge technologies such as AI and IoT, in order to enhance the operational efficiency of routine port activities. It reduces logistics costs and improves efficiency. Therefore, these factors are expected to drive growth of the global smart ports market during the forecast period.

  1. Growing concerns regarding environmental concerns are expected to propel the global smart ports market growth over the forecast period

Shipping industry contributes a massive carbon footprint worldwide. According to the International Transport Forum (ITF), around 85% of carbon dioxide emissions were produced by ports. This has necessitated a reduction of carbon footprint. Advanced technologies such as cloud computing and artificial intelligence can help ports to achieve their targets and save energy consumed by infrastructure on premise. Thus, these factors are expected to propel the global smart ports market growth over the forecast period.

Statistics:

Asia Pacific held dominant position in the global Smart Ports market in 2019, accounting for 34.7% share in terms of value, followed by Europe and North America respectively

Figure 1: Global Smart Ports Market Share (%) in terms of Value, By Region, 2019

Smart Ports  | Coherent Market Insights

Smart Ports Market - Impact of Coronavirus (Covid-19) Pandemic

Several governments across the globe such as India, Spain and Italy have imposed nationwide lockdown to restrict the spread of COVID-19 disease. For instance, Government of India have imposed lockdown from 25 March to 1 June until the further notice .Due to the Lockdown, there is a shortage of the workers at the ports. Due to the less manpower, the ports are struggling to move the products. In addition to this, due to the shortage of transportation facilities such as Trains and Heavy-duty Vehicles, manufactures are unable to ship their cargoes. Owing to the above mentioned factors, the COVID-19 pandemic is expected to restrain the smart ports market growth in upcoming years.

request-sample

Smart Ports Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 1,793.8 Mn
Historical Data for: 2017 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 27.7% 2027 Value Projection: USD 5,235.7 Mn
Geographies covered:
  • North America: U.S., Canada
  • Latin America: Brazil, Argentina, Mexico, Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, Rest of Asia Pacific
  • Middle East and Africa: South Africa, North Africa, Central Africa
Segments covered:
  • By Technology: Internet of things (IoT), Blockchain, Process automation and Artificial intelligence
  • By throughput capacity of Ports: Extensively busy (above 19 million teu), Moderately busy (4-19 million teu) and Scarcely busy (below 4 million teu)
  • By Solution: Gate Automation Solutions, Traffic-monitoring System, Port Community System (PCS), Smart Cargo-handling System and Others
  • By Port Type: Seaport and Inland Port
Companies covered:

ROYAL HASKONINGDHV, Awake.AI, ABB Ltd., Navis, Trelleborg AB, IBM Corporation, PORT OF ROTTERDAM, Accenture, Abu Dhabi Ports, China Merchants Port Holdings Company and Ramboll Group A/S.

Growth Drivers:
  • Rising emphasis on minimizing operational expenses
  • Growing concerns regarding environmental concerns
Restraints & Challenges:
  • Lack of skilled personnel

Market Dynamics- Restraints

  1. Lack of skilled personnel is expected to hamper the global smart ports market growth over the forecast period

Incorporating and operating advanced technologies such as AI and IoT require skilled personnel with adequate training and experience. These technologies are needed to be operated by skilled workers that are not available easily, especially in emerging regions such as the Middle East and Africa. As a result of this, adoption of smart ports is hindered. Thus, these factors are expected to hamper the global smart ports market growth over the forecast period.

  1. Concerns regarding privacy and security are expected to restrain growth of the global smart ports market during the forecast period

Despite their numerous advantages, many port operators are hesitant towards the adoption of the advanced technologies mentioned above. This is due to the fact that concerns regarding privacy and security. Since cyber-attacks rising rapidly, confidential data regarding ports is can be compromised, jeopardizing the entire operation. Hence, such factors are expected to restrain growth of the global smart ports market during the forecast period.

Market Opportunities

  1. Proactive government initiatives towards smart infrastructure can present lucrative growth opportunities in the global smart ports market

Governments of many countries have started taking proactive initiatives toward the adoption of novel technologies such as AI and IoT in ports. Smart ports have become essential for growth of a country’s economic development and achieving efficiency in maritime transportation will only accelerate the growth. For instance, in October 2019, the Government of Andhra Pradesh, India, launched an online platform SMARTPORT as part of the ease of doing business reforms related to trade and export promotion in all ports in the state.

  1. Port upgrades via retrofitting can provide major business opportunities in the global smart ports market

Many countries have started upgrading their ports, in order to accelerate maritime trade. For instance, in 2019, the Government of India invested around US$ 1.85 billion on major ports’ infrastructure. Furthermore, in June 2020, the Government of Puducherry received CRZ clearance from the Expert Appraisal Committee (EAC) of the Ministry of Environment, Forest, and Climate Change, India for minor port upgradation.

Figure 2: Global Smart Ports Market Value (US$ Mn), 2017 - 2027

Smart Ports  | Coherent Market Insights

The global Smart Ports market was valued at US$ 1,793.8 Mn in 2019 and is forecast to reach a value of US$ 5,235.7 Mn by 2027 at a CAGR of 27.7% between 2020 and 2027.

Market Trends

Rising investments to revamp infrastructure in the U.S.

The U.S. government is focused on revamping the existing infrastructure of ports and planning to build data-driven solutions. Therefore, the government is expected to invest a significant amount of funds in ports in the near future. For instance, in June 2019, the U.S. Department of Transportation (DOT) announced to invest US$ 292.7 billion in new Port Infrastructure Development Program.

Competitive Section

Key players operating in the global smart ports market are ROYAL HASKONINGDHV, Awake.AI, ABB, Navis, Trelleborg AB, IBM Corporation, PORT OF ROTTERDAM, Accenture, Abu Dhabi Ports, and Ramboll Group A/S.

Key Developments

  1. Major companies are focused on product launches, in order to enhance the market presence. For instance, in April 2020, Awake.AI introduced a smart port as a service web application.
  2. Key players are focused on product development, in order to gain a competitive edge in the market. For instance, in March 2019, Navis introduced Navis Smart to process a vast amount of data for container terminals and carriers.

Smart port uses advanced technologies such as artificial intelligence and blockchain technologies to automate cargo handling processes, port community system (PCS), and traffic-monitoring systems. Smart ports can also improve environmental sustainability by adopting AI tools and big data analytic solutions in the waste management system of ports. Moreover, AI-based solutions can also be used in the port logistics and supply-chain security to minimize the security risks such as smuggling of unauthorized products and substances.

Market Dynamics

The large enterprises in the smart ports market are signing agreements with the government bodies to develop advanced AI-based solutions for the ship building and port construction facilities. For instance, in October 2018, ABB Ltd. signed an agreement with Shanghai municipal government to develop solutions for ship building and port constructions facilities. Moreover, companies such as China Merchants Port Holdings Company Limited are using 5G technologies to transform traditional ports into digital smart ports. For instance, China Merchants Port Holdings Company Limited undertook a Mawan Intelligent Port Project to equip the traditional processes such as cargo handling systems with its advanced AI solutions. This project is expected to be completed by the end of 2020. Such innovative solutions and collaborations between companies and government bodies is expected to propel growth of the smart ports market during the forecast period.

Market Taxonomy

This report segments the global smart port market on the basis of technology, throughput capacity of ports, solution, and region. On the basis of technology, the global smart port market is segmented into Internet of things (IoT), Blockchain, Process Automation, and Artificial Intelligence. On the basis of throughput capacity of ports, the global smart port market is segmented into extensively busy (above 19 million teu(twenty-foot equivalent unit)), moderately busy (4-19 million teu), and scarcely busy (below 4 million teu). On the basis of solution, the global smart port market is segmented into gate automation solutions, traffic-monitoring system, port community system (PCS), smart cargo-handling system, and others. On the basis of region, the global smart port market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East and Africa.

Key features of the study:

  • This report provides an in-depth analysis of the global smart port market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2020-2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by leading players
  • It profiles leading players in the global smart port market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the global smart port market includes ROYAL HASKONINGDHV, Awake.AI, ABB Ltd., Navis, Trelleborg AB, IBM Corporation, PORT OF ROTTERDAM, Accenture, Abu Dhabi Ports, China Merchants Port Holdings Company, and Ramboll Group A/S
  • These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics
  • The global smart port market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global smart port market

Detailed Segmentation:

  • Global Smart Port Market, By Technology:
    • Internet of things (IoT)
    • Blockchain
    • Process Automation
    • Artificial Intelligence
  • Global Smart Port Market, By Throughput Capacity of Ports:
    • Extensively Busy (above 19 million teu)
    • Moderately Busy (4-19 million teu)
    • Scarcely Busy (below 4 million teu)
  • Global Smart Port Market, By Solution:
    • Gate Automation Solutions
    • Traffic-monitoring System
    • Port Community System (PCS)
    • Smart Cargo-handling System
    • Others
  • Global Smart Port Market, By Port Type:
    • Seaport
    • Inland Port
  • Global Smart Port Market, By Region:
    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East and Africa
  • Company Profiles
    • ABB Ltd.*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Abu Dhabi Ports
    • Accenture
    • Awake.AI
    • China Merchants Port Holdings Company 
    • IBM Corporation
    • Navis
    • PORT OF ROTTERDAM
    • Ramboll Group A/S.
    • ROYAL HASKONINGDHV
    • Trelleborg AB

Browse all the market data tables and figures on “Global Smart Port Market - Forecast to 2027”

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Technology
      • Market Snippet, By throughput capacity of Ports
      • Market Snippet, By Solution
      • Market Snippet, By Port Type
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Solutions Trend
    • Merger and Acquisitions
    • New system Launch/Approvals
  4. Analyst View on Impact of COVID-19 on Market
    • Short Term
    • Long term
  5. Global Smart Port Market, By Technology, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment trends
    • Internet of things (IoT)
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Blockchain
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Process automation
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Artificial intelligence
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  6. Global Smart Port Market, By throughput capacity of Ports, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment trends
    • Extensively busy (above 19 million teu)
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Moderately busy (4-19 million teu)
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Scarcely busy (below 4 million teu)
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  7. Global Smart Port Market, By Solution, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment trends
    • Gate Automation Solutions
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Traffic-monitoring System
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Port Community System (PCS)
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Smart Cargo-handling System
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  8. Global Smart Port Market, By Port Type, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment trends
    • Seaport
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Inland Port
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  9. Global Smart Port Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Technology, 2020–2027(US$ Million)
      • Market Size and Forecast, By throughput capacity of Ports, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Solution, 2020–2027(US$ Million)
      • Market Size and Forecast, By Port Type, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Technology, 2020–2027(US$ Million)
      • Market Size and Forecast, By throughput capacity of Ports, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Solution, 2020–2027(US$ Million)
      • Market Size and Forecast, By Port Type, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Technology, 2020–2027(US$ Million)
      • Market Size and Forecast, By throughput capacity of Ports, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Solution, 2020–2027(US$ Million)
      • Market Size and Forecast, By Port Type, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Technology, 2020–2027(US$ Million)
      • Market Size and Forecast, By throughput capacity of Ports, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Solution, 2020–2027(US$ Million)
      • Market Size and Forecast, By Port Type, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, By Technology, 2020–2027(US$ Million)
      • Market Size and Forecast, By throughput capacity of Ports, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Solution, 2020–2027(US$ Million)
      • Market Size and Forecast, By Port Type, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  10. Competitive Landscape
    • Company Profiles
      • ABB Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Abu Dhabi Ports
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Accenture
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • AI
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • China Merchants Port Holdings Company
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • IBM Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Navis
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • PORT OF ROTTERDAM
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Ramboll Group A/S.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • ROYAL HASKONINGDHV
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Trelleborg AB
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  11. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse market data tables and figures on “Global Smart Ports Market -forecast to 2027”.

FAQgrowicon

Frequently Asked Questions

The global market for Smart Ports is expected to reach USD 3424.5 Million by 2022.
Rising emphasis on minimizing operational expenses is expected to drive growth of the global smart ports market during the forecast period.
Sea Port sub-segment holds the largest market share among Software Type Segment contributing 76.3% market share in terms of value in 2019.
Asia Pacific region hold the largest share in the global Smart Ports market in 2019, accounting for 34.7% share in terms of value.
Key players operating in the global Smart Ports market are ROYAL HASKONINGDHV, Awake.AI, ABB Ltd., Navis, Trelleborg AB, IBM Corporation, PORT OF ROTTERDAM, Accenture, Abu Dhabi Ports, China Merchants Port Holdings Company and Ramboll Group A/S.
Existing Clientele

Joining thousands of companies around the world committed to making the Excellent Business Solutions.

View All Our Clients

Our Trusted Patner

Subscribe Newsletter

Kindly Subscribe for our latest news & articles.