Global Digital Transformation of Maritime Freight Market was valued US$ XX Bn in 2018 and is expected to reach US$ 34.56 Bn by 2026, at CAGR of XX% during forecast period of 2019 to 2026.
Drivers and Restraints:
IT and digital transformation has optimized operations of the maritime cargo industry and increased the business of companies. It allows the market to grow with an organized vision by the incorporation of business potential with networking. Transporters are fitting IT systems in the digital transformation of maritime cargo, to gradually augment their business and stand in this digitally-competitive world.
Marine freight companies have drastically improved their efficiencies due to the digital transformation of maritime goods by allowing the incorporation of artificial intelligence technologies, Internet of Things, blockchain, and robotics with shipping models. Such technologies aid to the marine freight companies in intelligent coordination models and long-term traffic forecasts.
The global digital transformation of maritime freight market is driven by few technologically-advanced vendors in the shipping industry, rising importance of customer satisfaction, increased importance and dependency on IT & Digitization within the Shipping Industry has become important. However, high cost for the transfer of cargo and shipments are hampering the market growth at global level.
Various countries have augmented trade protection and improved their policies regarding shipping through waterways. For instance, increasing trade tensions between the United States and some of its trading partners may impact the global digital transformation of maritime freight market.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Segmentation:
Based on the deployment, the global digital transformation of maritime freight market is segmented into cloud-based and on- premise. The Cloud-based segment is expected to hold 60% of market share during the forecast period. The rising demand of cloud management tools and cloud-based solutions due to its cost-saving benefits for stakeholders in the maritime supply and space, therefore triggering the digital transformation of maritime freight market growth in the near future.
Regional:
Geographically, the digital transformation of maritime freight market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America held the XX% share of the digital transformation of maritime freight market in 2018 due to presence of key players in the region and developed economies. Asia Pacific is expected to remain the fastest growth rate in the digital transformation of maritime freight market over the forecast period. China and India are the major contributors in the regional market with rapid advancements in technology, and integrating them with shipping companies. Furthermore, Asia Pacific has the largest population base in the world, and this has resulted in the increased demand for products. Specifically in this Asia Pacific, the high implementation rate of digitization in maritime freight for optimally and effectively manages such high volumes of data associated with ships and vessels, quantity to be traded, and several ports. The market in the Middle East & Africa, Europe, and South America are also likely to expand at the CAGR of XX% during the upcoming period.
Recent Development:
A report covers the recent development in market for the global digital transformation of maritime freight market e.g., In March 2018 Hapag Lloyd presented its cloud-based rate management system - Cargo Sphere - which allows its consumers fully-automated access to all its rates. The company declared that, this system can also offer sales-related benefits, including more common selection of optimal booking and faster estimating to customers, eventually to improve customer satisfaction by delivering precise Hapag-Lloyd rates in real-time with its partners. In October 2018, Oracle Corporation introduced the Oracle Blockchain Applications Cloud. This technology would improve transparency and traceability across the supply chain process.
The objective of the report is to present comprehensive analysis of Global Digital Transformation of Maritime Freight Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers. The report also helps in understanding Global Digital Transformation of Maritime Freight Market dynamics, structure by analyzing the market segments, and project the Global Digital Transformation of Maritime Freight Market size. Clear representation of competitive analysis of key players by Type, Price, Financial position, Product portfolio, Growth strategies, and regional presence in the Global Digital Transformation of Maritime Freight Market make the report investor’s guide.
Competitive Landscape:
The market key players such as Syntel Inc., Hexaware Technologies, ABB Ltd., Tech Mahindra Limited and Kintetsu World Express, Inc, are focusing towards the acceptance of AI, machine learning, blockchain, and improving their skills to gain a competitive benefit in the digital transformation of maritime freight market, apart from upholding their position in the global market.
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Scope of the Report Global Digital Transformation of Maritime Freight Market:
Global Digital Transformation of Maritime Freight Market by, Software Solution:
• Booking
• Vessel Scheduling
• Loading/ Unloading
• Delivery
Global Digital Transformation of Maritime Freight Market by, Service:
• Consulting & Training
• Implementation & Integration
• Operation & Maintenance
• Managed Services
Global Digital Transformation of Maritime Freight Market by, Deployment:
• Cloud-based
• On-premise
Global Digital Transformation of Maritime Freight Market by, End Users:
• Ports & Terminals
• Maritime Freight Forwarders
Global Digital Transformation of Maritime Freight Market by, Region:
• North America
• Europe
• Asia pacific
• Latin America
• Middle East Africa
Key Players of Global Digital Transformation of Maritime Freight Market:
• Syntel Inc.
• Hexaware Technologies
• ABB Ltd.
• Tech Mahindra Limited
• Kintetsu World Express, Inc
• Advantech Co., Ltd.
• Mindtree Ltd.
• DigiLogistics Technology Ltd.
• Partner Tech Corp
• 3GTMS, Inc.
• 4flow AG
• Logistic Solutions, Inc.
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