Blockchain to Register Highest Growth in Europe Smart Ports Market During Forecast Period
Growing government support initiatives
toward smart infrastructure is anticipated to drive growth of Europe smart
ports market through 2024
According to
TechSci Research report, “Europe Smart Ports Market By Element, By
Throughput Capacity, By Technology, By Country, Forecast & Opportunities,
2024”, the Europe smart ports market is expected to grow at a formidable
rate of around during the forecast period owing to the increasing demand for
real-time information and growing environmental concerns. However, data privacy
and security concerns can hamper the market during forecast period.
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The Europe smart ports market is
segmented based on element, throughput capacity, technology, company and
country. Based on throughput capacity, the market can be fragmented into extensively
busy, moderately busy and scarcely busy. The extensively busy ports are
expected to dominate the market during forecast period. This can be accredited
to the fact that they generate larger revenues as compared to their
counterparts since they have a larger size of operations. Based on technology,
the market can be categorized into process automation, IoT, artificial
intelligence and blockchain. The blockchain segment is expected to register the
highest CAGR during forecast period since it is the primary process that
ensures smooth data handling and management.
IBM Corporation, ABB Ltd., Royal
Haskoning, Trelleborg AB, Port of Rotterdam, Accenture Port Solutions, Cisco
IoT Solutions and others are some of the leading players operating in Europe smart
ports market. The companies operating in the market are using organic
strategies such as developing advanced technologies, mergers and collaborations
to boost their share.
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“Europe smart
ports market is expected to witness significant growth during the forecast
period, owing to the rapid economic development in the region. Additionally,
growth of
industrial automation in this region has increased the adoption of smart
technologies in port activities, which is further expected to propel the
market. Also, presence of major players such as ABB Ltd in the region further expected
to spur the market through 2024.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Europe Smart Ports Market By Element, By
Throughput Capacity, By Technology, By Country, Forecast & Opportunities,
2024” has evaluated the future growth
potential of Europe smart ports market and provides statistics & information
on market size, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges and opportunities in Europe
smart ports market.
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