According to a new report from Fact.MR, the global smart ports market — currently valued at $2.5 billion — is set to reach $16 billion by 2033, surging ahead at 20.4 percent CAGR from 2023 to 2033.
A smart port is an automated port that uses cutting-edge technologies such as artificial intelligence (AI), the internet of things (IoT), and blockchain to improve its operation. Since the volume of trade is consistently expanding, adopting such advanced technologies has become vital to increase internal effectiveness and operations.