Global Smart Port Market Insights Forecasts to 2033

• The Global Smart Port Market Size was Valued at USD 1.85 Billion in 2023
• The Market Size is Growing at a CAGR of 24.16% from 2023 to 2033
• The Worldwide Smart Port Market Size is Expected to Reach USD 16.1 Billion by 2033
• Europe is Expected to Grow the fastest during the forecast period.

The Global Smart Port Market Size is Anticipated to Exceed USD 16.1 Billion by 2033, Growing at a CAGR of 24.16% from 2023 to 2033.

Market Overview

An autonomously created port that makes use of cutting-edge technology like blockchain, artificial intelligence (AI), and the Internet of Things (IoT) to improve performance is called a smart port. It is now essential to employ cutting-edge technologies to improve internal efficiency and operational procedures due to the fast-growing trading volume. Although smart ports use the previously described technologies, they have the potential to enhance sustainable development as well. They can also cut expenses, simplify processes, and preserve economic competitiveness. Rising environmental concerns are anticipated to fuel global market expansion during the projected period. Globally, the shipping sector has a significant carbon footprint. The International Transport Forum (ITF) states that carbon dioxide emissions are generated by ports. CO2 emissions from freight transportation related to regional and international trade will rise during the baseline period, almost triple current levels. Consequently, there has been a need to decrease the carbon impact.

Cutting-edge technology, including artificial intelligence and cloud computing, can help ports achieve their goals while reducing the amount of energy used by those using infrastructure. Therefore, during the forecast period, these factors are anticipated to propel market expansion.

Report Coverage

This research report categorizes the market for the global smart port market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global smart port market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global smart port market.

Driving Factors

An old port can be made into a smart port by utilizing several technologies, such as artificial intelligence (AI), the Internet of Things (IoT), blockchain, and process automation. To convert the traditional infrastructure into a digital one, these technologies can be used singly or in combination. Compared to traditional ports, smart ports provide several advantages, such as fewer disruptions caused by people, lower operating costs, more intelligent decision-making, and more consistent performance. Because of all these advantages, production rises, opening the door for a visionary view of Port 4.0. International trade depends heavily on maritime transportation. Ocean shipping is the primary means of transportation for international trade, according to UNCTAD, the majority of products traded internationally are transported by sea. Compared to air, train, and road transportation, this mode of transportation is more practical and affordable for international trade. Changes in purchasing habits, the growth of e-commerce, and a shift in consumption patterns from services toward goods, typically medications and health products as well as home office equipment were also seen.

Restraining Factors

As the environment is always changing, it might be difficult to prevent data from being misaligned or even missing in ports. Ports will find it challenging to effectively collect and communicate data if there are any possible dead zones. Because automated ports, in contrast to conventional ones, cannot confine problems at particular jobs or steps in the process, they provide a challenge that requires ongoing close coordination across operations. Due to the incredibly complex nature of ports and the necessary operational and security duties for the efficient transfer of cargo, the network will also need to be very mobile and safe.

Market Segmentation

The global smart port market share is classified into port type, technology, elements, and throughput capacity.

• The seaport segment is expected to hold the largest share of the global smart port market during the forecast period.   

Based on the port type, the global smart port market is divided into seaport and inland port. Among these, the seaport segment is expected to hold the largest share of the global smart port market during the forecast period. Ports vary in their level of automation due to several criteria, including size, capacity, and average number of operations. Additionally, port automation requires a significant financial outlay, which is a major factor in the acceptance and application of new technologies. Seaports handle a significant volume of both passenger and small- to large-scale freight traffic. As a result, these ports have strict requirements for intelligent technologies to ensure effective dock operations. 

• The process automation segment is expected to grow at the rapid growth in the global smart port market during the forecast period.

Based on the technology, the global smart port market is divided into IoT, blockchain, process automation, and artificial intelligence. Among these, the process automation segment is expected to grow at the rapid growth in the global smart port market during the forecast period. Across ports, the use of cloud-based software to support automation is growing in popularity. Port authorities are increasingly using software-assisted robots for redundant duties like ship invoicing and port gate operations to reduce human participation and concentrate on key operational tasks. The task or operation under consideration determines the level of automation, which occasionally entails integrating different technologies with process automation software. For dock operators, however, process automation presents enormous development potential as a stand-alone solution.

• The smart port infrastructure segment is expected to hold the largest share of the global smart port market during the forecast period.

Based on the elements, the global smart port market is divided into terminal automation, PCS, and smart port infrastructure. Among these, the smart port infrastructure segment is expected to hold the largest share of the global smart port market during the forecast period. Automated mooring systems, shore power, gate automation, and intelligent energy and environmental solutions are all examples of smart port infrastructure. Waste treatment and disposal units, professional services, managed services, smart lighting, smart meters, and other items are included in the smart energy & environment solution subsegment. International trade depends heavily on maritime transportation. According to UNCTAD, the majority of international trade in products is transported by sea, making ocean shipping the primary means of transportation for global trade. Thus, smart port infrastructure boost port efficiency and save operating costs.

• The extensively busy ports segment is expected to hold the largest share of the global smart port market during the forecast period.

Based on the throughput capacity, the global smart port market is divided into extensively busy ports, moderately busy ports, and scarcely busy ports. Among these, the extensively busy ports segment is expected to hold the largest share of the global smart port market during the forecast period. Some of the busiest ports in the world are located in certain locations, these include China, Singapore, and South Korea, which serve as important commercial routes. These ports have invested heavily in port characteristics like cargo handling, safety and security, smart infrastructure, and community systems. They also have smart infrastructure.

Regional Segment Analysis of the Global Smart Port Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is anticipated to hold the largest share of the global smart port market over the predicted timeframe.

Asia Pacific is anticipated to hold the largest share of the global smart port market over the predicted timeframe. Major ports with significant throughput capacities are present in the region, which accounts for the highest proportion globally. The main countries identified as important trading hubs with significant volumes of commercial activity are China, Japan, South Korea, and Singapore. Strong growth in the region has been secured by the aforementioned elements in conjunction with the relatively lower cost of technologies, particularly from countries like China and Taiwan. 

Europe is expected to grow at the fastest pace in the global smart port market during the forecast period. European ports are relatively small, but they handle a lot of goods. Furthermore, because smaller, less capacious ports handle just as much traffic as larger ones, European ports can no longer compete only on port size.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global smart port market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Wipro
• Navis
• Ramboll Group
• Kalmar
• TCS
• Trelleborg
• Royal Haskoning
• Port of Rotterdam
• IBM
• Microsoft
• General Electric
• Accenture
• Siemens
• ABB
• Abu Dhabi Ports
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In June 2022, the largest shore-to-ship project in France has been contracted by ABB and the Port of Toulon, France. The Port of Toulon, which handles over 1.6 million ferry and cruise passengers a year, is dedicated to ABB shore connection technology at this critical point in its sustainability endeavor.

• In April 2022, Accenture purchased Ergo, an integrated data and AI consulting business based in Argentina. It contributed to the growth of a big data, analytics, and artificial intelligence (AI) culture that prioritizes data-driven decision-making.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global smart port market based on the below-mentioned segments: 

Global Smart Port Market, By Port Type

• Seaport
• Inland Port

Global Smart Port Market, By Technology

• IoT
• Blockchain
• Process Automation
• Artificial Intelligence

Global Smart Port Market, By Elements

• Terminal Automation
• PCS
• Smart Port Infrastructure

Global Smart Port Market, By Throughput Capacity

• Extensively Busy Ports
• Moderately Busy Ports
• Scarcely Busy Ports

Global Smart Port Market, Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa