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https://www.abnewswire.com - 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.

According to a research report “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″ published by MarketsandMarkets, the global smart port market size will grow to USD 5.7 billion by 2027 from USD 1.9 billion in 2022, at a CAGR of 24.3% during the forecast period. Growing maritime trade activities internationally across industries, Growing decarbonization of the maritime industry which increases the health benefit and reduce carbon emission globally, hence these are driving the demand for smart ports globally. As the real-time geospatial data improve a large number of port operations such as it improved the freight operations by increasing visibility and assisting shipping companies which will help to navigate the current supply chain and it helped to grow the smart port market.