Published on : Dec 04, 2019
ResearchMoz.us has announced the addition of a report, titled “Digital Transformation of Maritime Freight Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027”. The report offers an elaborate assessment of key growth trends and drivers, recent developments in the market, the competitive ecosystem, and opportunity and challenges analysis.
The global digital transformation of maritime freight market is projected to witness significant growth over the projected tenure of 2019-2027. The high CAGR (Compound Annual Growth Rate) will produce numerous opportunities in the market landscape in this period that the market players would be thrilled to make the most of.
Globally, international trade has increased significantly in the last couple of years. This growth has opened various new opportunities in for the players working in the maritime industry. Moreover, increasing efforts made in digitalization is driving growth for digital transformation of maritime freight. Moreover, the maritime holder shipping (reefer and dry) industry flaunts the biggest incentive in the inventory network, with a material effect on numerous nations' total national output. As per the World Shipping Council (WSC) data, the exchange worth is more than US$4 trillion in merchandise annually. Roughly 6,000 maritime holder boats are dynamic at some random point, along worldwide waterways and seaways. Thus, with such increasing figures the demand in the global digital transformation of maritime freight market in the coming years.
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Segments in which the global digital transformation of maritime freight market is categorized include software solutions, service, deployment, and end-user. The software solution category is divided into booking, loading/ unloading, vessel scheduling, and delivery. Based on service type, the market is divided into consulting and training, managed services, operation & maintenance, and implementation & integration. Based on deployment, cloud-based and on-premise are two categories.
North America to Lead Due to Increased Maritime Activities
With respect to geographical reach, Asia Pacific, Europe, the Middle East and Africa, North America, and South America are the key regions in which the global digital transformation of maritime freight market is divided. Of these, North America is projected to lead the global market in the coming year due to increased maritime activities and growing water trade has made the region a leading market. On the other hand, Asia Pacific is projected to contribute significantly in the growth of this market. India and China are expected to hold key positions in Asia Pacific region. The computerized change of maritime cargo advertises in the South America, Middle East and Africa and Europe are additionally expected to extend quickly during the estimate time frame. And based on end-user, the market is segmented into ports & terminals and maritime freight forwarders
Presence of Large Number of Players to Brace Market Competition
In terms of competitive landscape, key players functioning in the global digital transformation of maritime freight market consist of DigiLogistics Technology Ltd., Partner Tech Corp , Tech Mahindra Limited, IBM Corporation, Oracle, Syntel Inc., SP SE, Hexaware Technologies, ABB Ltd., Kintetsu World Express, Inc, Mindtree Ltd., Advantech Co., Ltd., 4flow AG, 3GTMS, Inc., and Logistic Solutions, Inc.