The global smart ports market is estimated to grow at a CAGR of nearly 26.0% during the forecast period. The major factors contributing to the growth of the market include a significant rise in the logistics sector and rising demand for automation in ports. A significant rise in the logistics sector has been witnessed in developed and developing countries owing to the rising international trade operations and increasing e-commerce industry. Due to the increase in cross-border e-commerce sales, the demand for maritime transportation has significantly increased over the years. The cross-border business-to-consumer (B2C) sales reached an estimated $412 billion in 2017, which is accounted for nearly 11% of total B2C e-commerce, a 4% hike as compared to 2016.
The top ten countries by B2C e-commerce sales include China, the US, UK, and Japan with nearly $1,062 billion, $753 billion, $206 billion, and $147 billion, respectively. The cross-border e-commerce trade usually requires long-distance transport, which contributes to the demand for maritime transportation. As per the United Nations Conference on Trade and Development, nearly 80% of the international trade is carried out by commercial shipping. This, in turn, increases the need for port terminals to conduct transportation operations more efficiently.
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Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Smart Ports Market- Segmentation
By Port Type
- Cargo Ports
- Sea Ports
By Throughput Capacity
- Extensively busy (above 18 million Teu)
- Moderately busy (5-18 million Teu)
- Scarcely busy (below 5 million Teu)
By Technology
- Internet of Things (IoT)
- Blockchain
- Artificial Intelligence (AI)
- Process Automation
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Smart Ports Market– Segment by Region
North America
- US
- Canada
Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East and Africa
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- More than 120 countries are for analysis.
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