Stratview Research delivers key insights on the global Smart Ports Market. According to Stratview Research, the market is estimated to grow at a decent CAGR of 5.1% during the forecast period to reach a value of US$ 310 Million in 2027.
Smart Ports Market Opportunities, Growth and Forecasting for next Upcoming Year Until 2027
Stratview Research delivers key insights on the global Smart Ports Market. According to Stratview Research, the market is estimated to grow at a decent CAGR of 5.1% during the forecast period to reach a value of US$ 310 Million in 2027.
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The present report can be of high utility for the key decision-makers and growth strategists in terms of precise market insights, forthcoming growth opportunities, and key success factors. Especially, the report also analyses and mentions the possible impact of COVID-19 on the market dynamics. This will not only help in mitigating the uncertain business environment, but also help in rearranging the strategies and future- decisions in a fruitful manner.
Key Players
The following are some of the key players in the Smart Ports Market:
• Royal HaskoningDHV
• IBM Corporation
• ABB Group
• Trelleborg AB
• Port of Rotterdam Authority
• Abu Dhabi Ports
• Accenture plc
• General Electric Company
• Wipro Ltd.
• Ramboll Group
• Ikusi Velatia
• Port Solutions Ltd.
• Scientific Enterprises.
Growth drivers and Market Value:
This report, from Stratview Research Smart Ports Market value and growth drivers over the trend period of 2022-27. According to the report -
Smart Ports Market is likely to witness an impressive CAGR of 25.0% during the forecast period. Rising need for ports to use smart and efficient technologies in order to enhance efficiency is one of the prime factors driving the market’s growth. The prime factors contributing to the demand for smart ports are rise in adoption of IoT connected devices by major shipping companies, increasing use of drones to monitor terminal operations, government support, and increase in investment towards infrastructure of ports.
Segment Analysis:
Based on by Throughput CapacityType:
Based on the throughput capacity type, the smart ports market is segmented as extensively busy, moderately busy, and scarcely busy. The extensively busy segment held the largest share of the market in 2021, and is expected to remain dominant during the forecast period. This segmentation is based on the handling capacity of the ports, in terms of twenty feet equivalent (TEU). Ports with a throughput capacity of more than 18 million TEU are classified as extensively busy ports, those with a throughput capacity between 5 to 18 million TEU are classified as moderately busy ports, and the rest are classified as scarcely throughput ports. The extensively busy ports have the highest potential to invest in implementing smart technologies and solutions in the ports as they generate high revenue.
Based on Regional:
In terms of regions, Asia-Pacific is estimated to be the largest market during the forecast period, with China, Japan, and India being the major countries with lucrative growth opportunities. This growth can be attributed to the rapid industrialization, growing manufacturing sectors, increasing logistic and packaging industries, and fastest-growing economies in the region. In the past few years, there has been a gradual increase in the bulk of trade, globally. Thus, countries such as Singapore and Hong Kong formed the trade corridor, opening the regions’ trade opportunities. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
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FREQUENTLY ASKED QUESTIONS
The report answers several questions related to the market. The user can get to know the answers to the following questions…
- What is the global demand for Smart Ports Market in terms of revenue?
- Which are the prominent players in the market?
- At what CAGR is the market projected to grow within the forecast period?
- What are the driving factors fuelling the growth of the market?
- Which region accounted for the largest share in the market?
- How did the Covid19 impacted the market?
- How long will it take to recover from the Covid impact?
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