Smart Port Market: Introduction

  • A smart port is an automated port that uses nascent technologies such as big data, Internet of Things (IoT), block chain solutions and other smart technology based methods to improve performance and economic competitiveness.
  • Smart ports employ smart technology solutions to increase efficiency, effectiveness and security by making ports more environmentally sustainable, economically efficient and capable of handling increased port traffic.
  • The industry of ports and container shipping is considered as conservative and “resistant to change”, However, there are new emerging technologies, systems and solutions that will alter this perception in the coming years, leading the entire sector to a brighter, more connected future.
  • Due to the increasing size and volume of container, transport and cruise ships, conventional ports continue to face new challenges with daily traffic and processing. Thus Smart Ports with Technologies such as IoT can improve warehouse logistics, inventory management etc. and help automate loading, dispatching and transporting goods.

Are you a start-up willing to make it big in the business? Grab an exclusive PDF sample of this report here

Key Drivers of Smart Port Market

  • Smart Seaports are playing catch-up with the large Transport & Logistics (T&L) players when it comes to developing insight driven solutions and IoT applications. The Demand side is comprised of logistics supply (warehouses, transport providers, terminal operators) and domestic transport, thus the need for smart ports is driven by big companies acting in T&L sector.
  • Growing environmental concerns and rising needs of automation is major key factor influencing the growth of smart port market over the forecast period.
  • Moreover, Numerous Government has taken a handful of steps toward smart port as part of their initiatives which will provide ample opportunities for the overall growth of the smart port market globally.
  • One of the key drivers of a smart port market is the need to improve the throughput of all types of cargo and to reduce resource, staff, and equipment and fuel costs. Improvements to the quality of customer service and implementing automated processes can benefit the wider supply chain and port community. 

Restraints of smart port or terminal:

  • Companies associated ports industry, are responsible for customer data (which is already extremely valuable), as well as for physical goods. In addition many of the stored goods can be regarded as strategic stockpiles for the countries and regions that eventually increases the need for a robust security system. In today’s scenario port security is limited to the global ISPS code, which primarily focusses on physical threats. Port authority ecosystems must be aware that the digital threat is just as important, certainly if ports continue on their path towards further digitalization.
  • The need for co-operation between international ports in order to share data and insights is still is unexplored with smart port technology. Thus, protectionism of the port authorities on their own data is a major challenge in development of smart port strategy.

To Get a Bird’s Eye View of Smart Port Market Forecast, Ask for a Custom Report

Major Development:

  • The Port of Hamburg in Germany plans to use connected technology such as Internet of Things (IoT) to double capacity by 2025 without expanding in space, while reducing costs for both operators and cargo owners.
  • In Port of Rotterdam, Netherlands, IBM aims to roll out a fleet of autonomous ships, again by 2025, starting with the creation of a so-called digital twin - an exact digital replica of the port and its operations.
  • The Port of Tallinn in Estonia has implemented a real-time waiting line system, which, combined with smart visibility systems that can speed up the flow of trucks through both the port and the city beyond.
  • Singapore, a global Smart City leader, is leveraging big data and AI across various port processes through an initiative called SAFER (Sense-making Analytics for Maritime Event Recognition). The system optimizes or automates key tasks that previously relied on human observation and reporting.

Key Players Operating in Smart Port Market:

Some of the major key players operating in the Smart Port market are:

  • ABB
  • IBM Corp
  • Ramboll Group A/S
  • GENERAL ELECTRIC
  • Abu Dhabi Ports
  • Ikusi Velatia
  • ROYAL HASKONINGDHV
  • Trelleborg AB
  • Wipro Limited
  • Port of Rotterdam
  • Cisco
  • Siemens

Global Smart Port Market, by Throughput

  • Extensively busy (above 18 million teu)
  • Moderately busy (5-18 million teu)
  • Scarcely busy (below 5million teu)

Global Smart Port Market, by Technology

  • Internet of things (IoT)
  • Blockchain
  • Process automation
  • Artificial intelligence

Global Smart Port Market, by Port type

  • Sea Ports
  • Cargo ports

Global Smart Port Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Smart Port Market

Pre Book