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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