Smart Port Market Is Developing Rapidly Worth $13.98 Billion By 2027 “The global smart port market is anticipated to value USD 13.98 billion until 2027. It is also expected to register a CAGR of 32.4% over the forecasted years, 2020 to 2027. The increasing need for reducing operational costs and enhance the throughput capacity of ports is estimated to trigger the market growth for smart ports.”
The Global Smart Port Market Report offers details on current and future growth trends pertaining to the business besides information on numerous regions across the geographical landscape of the Smart Port Market. The study includes global, regional, and country-level market size, shares, growth rate analysis (include the causes of highest and lowest peak industry analysis), product launches, latest trends, the impact of covid19 on worldwide. Smart Port Market Research Methodology overview consists of primary and secondary research, company share analysis, model (including Demographic data, Macroeconomic indicators, and Industry indicators i.e. Expenditure, infrastructure, sector growth, and facilities, etc), Research Limitations, and Revenue Based Modelling. Comprehensive analysis of Smart Port Market based on current & future analysis depending on historic data also featured in this Report. The global smart port market is anticipated to value USD 13.98 billion until 2027. It is also expected to register a CAGR of 32.4% over the forecasted years, 2020 to 2027. The increasing need for reducing operational costs and enhance the throughput capacity of ports is estimated to trigger the market growth for smart ports. The extensively busy throughput capacity segment accounted for the highest share in 2019 due to the increasing number of port operations due to the increasing international trade. On the other hand, the moderately busy ports are expected to gain traction in the upcoming years on account of factors like considerable investments, lower number of operations, and lesser complexity.
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The seaports segment held the largest share of more than 66.5% across the global smart ports market in 2019 owing to their ability to handle a large quantity of cargo and passenger traffic. The inland port segment is also anticipated to witness substantial growth in the upcoming years on account of increasing container traffic across inland water bodies like rivers and streams. In 2019, Asia Pacific dominated the global market due to the presence of many ports near water bodies having higher throughput capacity. On the other hand, Europe is expected to witness the highest CAGR over the forecasted period, 2020 to 2027 on account of more number of smaller ports across this region that can handle large quantities of cargo. The market for smart port includes key players such as Trelleborg AB, Accenture, ABB, IBM, Navis, Awake.AI, and HASKONINGDHV. They are implementing strategies like acquisitions, mergers, and collaborations to enhance the global reach. Also, technological advances and product development is being undertaken by these players for improving their market share.
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Further key findings from the report suggest: • The moderately busy ports are anticipated to witness highest demand from 2020 to 2027. • In 2019, the seaports segment held the largest share of more than 66.5% across the global market. • Asia Pacific dominated the global smart port market in 2019. • The key players in this market areTrelleborg AB, Accenture, ABB, IBM, Navis, Awake.AI, and HASKONINGDHV. Million Insights has segmented the global smart port market on the basis of technology, throughput capacity, port type, and region:
Smart Port Technology Outlook (Revenue, USD Million, 2016 - 2027) • Process Automation • Blockchain • Internet of Things (IoT) • Artificial Intelligence (AI) Smart Port Throughput Capacity Outlook (Revenue, USD Million, 2016 - 2027) • Extensively Busy • Moderately Busy • Scarcely Busy
Smart Port Type Industry Outlook (Revenue, USD Million, 2016 - 2027) • Seaport • Inland Port Smart Port Regional Outlook (Revenue, USD Million, 2016 - 2027) • North America • The U.S. • Canada • Europe • The U.K. • Germany • France • Italy • Asia Pacific • China • India • Japan • South Korea
• Australia • Latin America • Brazil • Mexico • The Middle East & Africa Table of Contents:Chapter 1 Methodology and Scope Chapter 2 Executive Summary Chapter 3 Smart Port: Market Variables, Trends & Scope Chapter 4 Smart Port: Product Estimates & Trend Analysis Chapter 5 Smart Port: Application Estimates & Trend Analysis Chapter 6 Smart Port: End-use Estimates & Trend Analysis Chapter 7 Smart Port: Industrial End-use Estimates & Trend Analysis Chapter 8 Smart Port: Regional Estimates & Trend Analysis Chapter 9 Competitive Landscape Chapter 10 Smart Port: Manufacturers Company Profiles
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