“Smart Ports Market spending will reach $1.5bn in 2019”, says Visiongain
05 September 2019
Visiongain’s new report the Smart Ports Market Report 2019-2029: Forecasts Plus Leading Company Analysis and Regional and Leading National Market Analysis.
This latest report by business intelligence provider Visiongain assesses that Smart Ports Market spending will reach $1.5 bn in 2019. A smart port takes complete advantage of space, produces higher revenues, saves natural resources and benefits from the technology accessible to the logistics community. Ports and the sectors around them need to start modernizing from today to meet tomorrow's requirements. Developments and initiatives are already in place to turn present infrastructure and management into smartports.
Smart ports usually deploy cloud-based software as part of process automation to help the automation process in generating the operating flow that helps the port work smoothly. At present, most of the world's ports have somewhat embedded technology, if not for full leadership. However, thanks to global government initiatives and exponential growth in maritime trade, the amount of intelligent ports has gradually increased. The worldwide IoT partnership between IBM and Cisco helped organisations drive maximum business value from their IoT information in April 2018. IBM's Global Services Group worked closely with the Cisco IoT group to develop an IoT information services dashboard to drive higher effectiveness and higher revenue for Spanish port customers.
Government policies and legislative mandates for illegally discharging and treating waste in adjacent port lands and the need for effective data-driven decision-making capable of impacting the general effectiveness of ports and reducing unnecessary expenses are the main variables driving the development of this sector, which is supposed to be the process automation segment by technology
The Port of Antwerp and its digital innovation
Due to the use of the Things Internet, Antwerp's port attempts to become a smart port. Its digital innovation network aims at improving infrastructure, processing logistics and flows of port traffic. It also seeks to link all of the port's components through a data and information sharing network. It is vital to know the state of the products or the direction they are going to take to function rapidly and efficiently. The degree of automation varies from port to port, based on the port's capability, place, quantity of cargo handled, and economic value. The port automation scope is anticipated to improve to an unprecedented level with the development of mega-ports.
Fully-automated container terminal at Long Beach
The future's smartports could look much like the Long Beach Terminal in California. These installations have been able to fully automate their activities. Furthermore, the equipment used is totally zero emissions, replacing diesel with electricity and low emission fuels. From a leadership center, all procedures are regulated. From there you can always understand which container is moving and where it is going. They can also regulate which device, when and how, will move it. In this manner, many more activities can be performed simultaneously. And these savings can eliminate hundreds of truck journeys and increase the efficiency of the entire supply chain.
The world's ports are becoming intelligent, adopting new technologies from automated terminals to IoT, blockchain and AI enabling port ecosystem players — such as port authorities, terminal operators, shipping liners, freight forwarders, customs and logistics suppliers in the hinterland — to monitor end-to-end cargo, coordinate workflows, and accelerate cargo throughput in ports.
In March 2019, Royal Haskoning was awarded a contract to develop Bangladesh's Payra Deep Sea Port, which will add Bangladesh's much-needed port ability to enable bigger ships at the facility. To drive effectiveness and high performance, Royal Haskoning plans to incorporate the recent intelligent port thinking.
Recent Activities in the global Smart Port Market
In May 2019, Abu Dhabi Ports signed an agreement to accelerate its digital transformation with Dell Technologies. This arrangement seeks to work closely with Abu Dhabi Ports by Dell Technologies to incorporate sophisticated technologies into maritime activities and solutions.
The Port of Rotterdam Authority introduced the on-track request in March 2019 for real-time insight into rail freight flows within the Port of Rotterdam and terminal processing. On-Track meets terminal and carrier requirements. This instrument will increase the effectiveness of their scheduling method and more efficiently anticipate time deviations.
Leading Regional & National Analysis
During the forecast period, Asia Pacific is anticipated to be the biggest market.
Increasing industrialization is likely to be a main driver of the Asia Pacific economy. It is anticipated that the developing economies will give the intelligent ports market more impetus. Over the previous couple of years, the bulk of trade has seen a gradual rise. Countries such as Singapore and Hong Kong are thus the trade corridor that opens up trade possibilities for the areas. This, together with the accessibility of technology in low-tech nations such as China and Taiwan, will certainly increase this region's market favorably.
Port of Rotterdam
Abu Dhabi Ports
Accenture Port Solutions (Ireland) is another notable name in this section. The business focuses on differentiation technology & product innovation to bring value to its customers. Their company focuses on delivering end-to-end skills across the complete range of professional services — strategy spanning, consulting, digital, technology, and operations. The firm focuses primarily on offering an inorganic strategy for business development. For example, a contract to implement Industrial IoT (IIoT) facilities in Jurong Port was awarded to Accenture in 2018. Its project contract deliverables include performance value, Internet of things (IoT), PoC, high- performance bulk/break-bulk port benchmark, operating model with OR capabilities. The company is also laying measures for risk mitigation and improved business planning through sensitivity analysis and scenario modeling.
The comprehensive report offers market estimation and forecast for the period ranging 2019 – 2029 for leading national markets and rest of the world. Moreover, the report contains dedicated leading companies covering 10 leading producers in the field of advanced energy storage systems.
The Smart Ports Systems Market Report 2019-2029 report will be of value to anyone who wants to better understand the energy storage market and its various segments. It will be useful for businesses who wish to better comprehend the part of the market they are already involved in, or those wishing to enter or expand into a different regional or technical part of the energy industry.
Notes for Editors
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Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.
Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.
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