Smart Ports Market

ABB (Switzerland) and Trelleborg AB (Sweden) are the Major Players in the Smart Ports Market

The global smart ports market is expected to grow from an estimated USD 1.7 billion in 2019 to USD 5.3 billion by 2024, at a CAGR of 25.0% during the forecast period. The growth of this market is driven by the increase in maritime trade along with the need for digitization and implementation of data-driven technologies in the port operations to enhance their operational efficiency.

The global smart ports market is dominated by a few major players that have an extensive regional presence. The leading players in the smart ports market are Royal Haskoning (The Netherlands), IBM (US), ABB (Switzerland), Trelleborg AB (Sweden), Port of Rotterdam (The Netherlands), and Abu Dhabi Ports (UAE).

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The major strategies adopted by the players include new product launches, investments & expansions, mergers & acquisitions, contracts & agreements, partnerships, alliances, joint ventures, and collaborations. Contracts & agreements were the most commonly adopted strategy from February 2016 to February 2019. These industry players also adopted new product launches and mergers & acquisitions as major strategies during that period.

ABB (Switzerland) is a key player in this segment. Its industrial automation business segment comprises control systems, lifecycle services, turnkey engineering, measurement products, outsourced maintenance and industry-specific products such as Azipods, mine hoists, electric propulsion for ships, smart port solutions, energy efficient solutions, offshore & cargo vessels solutions, turbochargers, and pulp & paper quality control equipment. In smart port segment, ABB offers solutions to their clients such as improving their vessels energy efficiency, availability and overall safety by integrating automation systems with marine software, performance management solutions, design, supply, installation & commissioning of complete port electrification with integration port solutions. Its major competitors in providing smart port solutions for integrated automation with marine software include Accenture and Wipro.

Another major player in the segment is the International Business Machine (IBM). IBM (US) is focusing on its strategic investment in high-value segments of the IT market, including analytics, artificial intelligence, cloud, security, blockchain, and quantum computing. The company has also adopted inorganic growth strategies such as contracts & agreements, joint ventures, and partnerships & collaboration for its expansion. For instance, in 2019, it has been awarded a contract from the Spanish Port Authority to use software solution-based shipping platform (Tradelens) to improve operational efficiencies. Tradelens has the potential to produce incremental value for freight forwarders, shipping firms, shippers, and logistics service providers. Their strategic and continued investment in innovative technology such as AI and IoT services has improved competitive position and profit dynamics. The company is focusing on meeting the needs of the clients by providing core capabilities, namely innovative technology, industry expertise, trust, and security.

Related Reports:

Smart Ports Market by Technology (IoT, Blockchain, Process Automation, Artificial Intelligence (AI)), Elements (Terminal Automation, PCS, Smart Port Infrastructure, And Others), Throughput Capacity, Port Type, And Region - Global Forecast to 2024

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Report Code
EP 7233
RI Published ON
7/8/2019
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