The global smart port market size is expected to reach USD 13.98 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 32.4% over the forecast period.
The operational cost is the key factor driving the adoption of smart solutions at port facilities. Moreover, the growing need to gather real-time information on different port processes to help authorities take an informed decision has further contributed to the uptake of smart technologies such as Artificial Intelligence (AI), process automation, blockchain, and the Internet of Things (IoT) across port facilities.