Smart Port Market

ABB (Switzerland) and IBM (US) are leading players in Smart Port Market

The global smart port market is expected to grow from an estimated USD 1.9 billion in 2022 to USD 5.7 billion by 2027, at a CAGR of 24.3% during the forecast period. Smart ports use smart technologies such as the Internet of Things (IoT), blockchain, artificial intelligence (AI), and process automation, which help in enhancing the operational efficiency, cargo handling, passenger services, and performance of the ports, which ultimately reduces costs. Smart ports are equipped with various digital technologies that help authorities in daily port activities and enhance the level of operations and overall efficiency of the ports. Smart port technologies support basic infrastructure and tools for handling cargo, as well as help authorities manage traffic, deal with customs, ensure safety, and monitor energy use. In addition, the real-time data collected with the help of sensors helps in reducing the need for annual inspections by focusing more on schedule preventive maintenance. The major factor driving the growth of the smart port market is the increase in global trade via sea routes. This has led to a rise in vessel sizes and cargo volumes, which has pressurized ports and terminal operators to implement smart technologies for the real-time monitoring of data. In port operations, real-time data on the position and status of objects becomes increasingly important to improve visibility and efficiently plan and coordinate activities. The retrieved positioning data not only allows to locate objects but also to control traffic and coordination between various stakeholders.

The leading players in the smart port market include ABB (Switzerland), IBM (US), Siemens (Germany), General Electric (US), and Accenture (Ireland) Growth strategies adopted by these players include acquisitions, product launches, and contracts to increase their presence in the global market.

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IBM (International Business Machine) is a worldwide, diversified information technology company that offers a broad portfolio of services, products, and brands. The company’s offerings are utilized across various sectors, such as IT infrastructure, manufacturing, data, e-commerce, cloud services, and cybersecurity. It operates through five business segments, namely, Consulting, Software, Infrastructure, Global Financing, and Others. The company has divided its software services into the following two categories: hybrid platform & solutions and transaction processing services. The hybrid platform & solutions software service is subdivided into the following four categories including Red Hat, Data & AI, Automation, and Security. The company offers smart port infrastructure and software marine management solutions through the Software segment. The separation of IBMs managed infrastructure services division, which employed over 90,000 people, to Kyndryl was finalized in November 2021.

IBM’s Software business segment had been changed in 2021 and made into a new segment of software and it offers hybrid platform software solutions and transaction processing services. IBM offers digital solutions such as Internet of Things (IoT)-based technologies and IBM Cloud to ports to enhance the efficiency and productivity of the marine sector. Additionally, it provides blockchain-based, machine learning, and artificial intelligence (Al) smart port solutions, gathers real-time data about the ports infrastructure, and offers insights into how best to use berthing terminals and the local water and weather conditions, allowing port operators to determine when ships should dock. Through the infrastructure segment, the company offers a portfolio of project, managed, outsourcing and cloud-delivered services focused on IT infrastructure environments. The infrastructure segment under which the sub-segment Technology Support Services segment offers support services for IBM products and other technology platforms, as well as open-source and cross-vendor software and solution support. IBM is a leading expert in cloud, quantum computing, AI, cybersecurity, and industry-specific solutions.

IBM marks its presence in more than 175 countries with a balanced revenue distribution across regions.

ABB is a leading global technology company that supports the transformation of society and various industry to achieve a more productive and sustainable future. The company’s products and services cater to various industries, such as automotive, building & infrastructure, industrial automation, railways, and oil & gas. The company operates in four business segments, namely, Electrification, Process Automation, Motion, and Robotics & Discrete Automation. The Process Automation business segment offers smart port services and solutions and accounted for a share of 21.1% of the companys total revenue in 2021.

The Process Automation business segment offers port solutions through four categories, namely, container terminal automation, automation for bulk handling, port infrastructure, and shore connection services. This segment also comprises, life cycle services, outsourced maintenance, turnkey engineering, measurement products, control systems, and industry-specific products, such as smart port solutions, azipods, mine hoists, , energy-efficient solutions, electric propulsion for ships, offshore and cargo vessels solutions, turbochargers, and pulp & paper quality control equipment The smart port solutions offered to the clients help in improving vessels’ energy efficiency; enhancing overall safety by integrating automation systems with marine software; and designing, supplying, and installing & commissioning complete port electrification with integrated port solutions.

The company has a presence in over 100 countries. Its electrification segment operates several R&D centers, as well as more than 320 production sites in Europe, Asia, North America, and South America.

Related Reports:

Smart Port Market by Technology (IoT, Blockchain, Process Automation, Artificial Intelligence), Elements (Terminal Automation, PCS, Smart Port Infrastructure), Throughput Capacity, Port Type - and Region - Global Forecast to 2027

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Smart Port Market Size,  Share & Growth Report
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