According to the recent study the smart port market is projected to reach an estimated $11.2 billion by 2030 from $2.7 billion in 2023, at a CAGR of 22.4% from 2024 to 2030. Growth in this market is primarily driven by increasing government initiatives for smart port, growing maritime transportation, and rising adoption of IoT technology.
A more than 150 – page report is developed to understand trends, opportunities and forecast in smart port market by element (terminal automation and cargo handling, port community system, smart safety and security, traffic management system, and smart port infrastructure), technology (process automation, internet of things (IoT), artificial intelligence, and blockchain), throughput capacity (extensively busy ports, moderately busy ports, and scarcely busy ports), port type (seaports and inland ports), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that process automation is expected to remain the largest technology segment over the forecast period due to increasing adoption of industry 4.0 technology by seaports to increase capacity.
Within this market, seaports will remain the larger port type segment as seaports have been equipped with powerful digital technology, smart sensors, and IoT, which helps in enhancing the operational productivity and also makes cargo management easier for the port authorities.
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APAC will remain the largest segment over the forecast period because of increasing investment in ports for new technologies, like artificial intelligence and blockchain, and strong development in trade business in countries, like Singapore and Hong Kong.
ABB, IBM, Kaleris, Siemens, General Electric, Cisco, Trelleborg, ZPMC, Liebherr, Accentureare arebthe major suppliers in the smart port providers.
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