AUG 18,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Smart Ports Market.
Smart Ports Market is likely to witness an impressive CAGR of 25.0% during the forecast period. This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Smart Ports Market Share: By Throughput Capacity Type
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 2019, 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.
Smart Ports Market Share: By Technology Type
Based on the technology type, the market is segmented as process automation, internet of things, artificial intelligence, and blockchain. The process automation segment is expected to grow at the highest rate during the forecast period. The growth of the segment is because process automation reduces the need of human intervention by using technology to automate business processes. The degree of automation differs from port to port, depending on its capacity, economic value, location, and the amount of cargo it handles.
Smart Ports Market Share: By Region
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.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Smart Ports Market analysis report discusses the following heads in great detail:
· Market structure: Overview, industry life cycle analysis, supply chain analysis
· COVID-19 Impact Assessment
· Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
· Market trend and forecast analysis
· Market segment trend and forecast
· Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
· Attractive market segments and associated growth opportunities
· Emerging trends
· Strategic growth opportunities for the existing and new players
· Key success factors
About Stratview Research
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making. It is a global market intelligence firm providing a wide range of services including syndicated market reports, custom research, and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.
Contact: Stratview Research