Smart port uses advanced technologies such as artificial intelligence and blockchain technologies to automate cargo handling processes, port community system (PCS), and traffic-monitoring systems. Smart ports can also improve environmental sustainability by adopting AI tools and big data analytic solutions in the waste management system of ports. Moreover, AI-based solutions can also be used in the port logistics and supply-chain security to minimize the security risks such as smuggling of unauthorized products and substances.
Market Dynamics
The large enterprises in the smart ports market are signing agreements with the government bodies to develop advanced AI-based solutions for the ship building and port construction facilities. For instance, in October 2018, ABB Ltd. signed an agreement with Shanghai municipal government to develop solutions for ship building and port constructions facilities. Moreover, companies such as China Merchants Port Holdings Company Limited are using 5G technologies to transform traditional ports into digital smart ports. For instance, China Merchants Port Holdings Company Limited undertook a Mawan Intelligent Port Project to equip the traditional processes such as cargo handling systems with its advanced AI solutions. This project is expected to be completed by the end of 2020. Such innovative solutions and collaborations between companies and government bodies is expected to propel growth of the smart ports market during the forecast period.
Market Taxonomy
This report segments the global smart port market on the basis of technology, throughput capacity of ports, solution, and region. On the basis of technology, the global smart port market is segmented into Internet of things (IoT), Blockchain, Process Automation, and Artificial Intelligence. On the basis of throughput capacity of ports, the global smart port market is segmented into extensively busy (above 19 million teu(twenty-foot equivalent unit)), moderately busy (4-19 million teu), and scarcely busy (below 4 million teu). On the basis of solution, the global smart port market is segmented into gate automation solutions, traffic-monitoring system, port community system (PCS), smart cargo-handling system, and others. On the basis of region, the global smart port market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East and Africa.
Key features of the study:
Detailed Segmentation:
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