Overview and Scope
Waterway transportation software refers to digital tools and applications specifically designed to streamline and optimize various aspects of waterborne transportation operations. These software solutions are utilized by businesses and organizations involved in maritime activities, including shipping companies, logistics providers, port authorities, and maritime agencies.
Sizing and Forecast
The waterway transportation software market size has grown strongly in recent years. It will grow from $69.33 billion in 2023 to $75.39 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to globalization, regulatory compliance, rising fuel costs, and supply chain optimization.
The waterway transportation software market size is expected to see strong growth in the next few years. It will grow to $106.88 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to digital transformation, sustainability initiatives, infrastructure investments, e-commerce growth, resilience, and risk management. Major trends in the forecast period include increased integration, focus on predictive analytics, adoption of AI and machine learning, expansion of cloud-based solutions, and emphasis on cybersecurity.
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Segmentation & Regional Insights
The waterway transportation software market covered in this report is segmented –
1) By Solutions : Warehousing, Vessel Tracking, Freight Security, Yard Management, Audit And Claim, Ship Broker Software, Maritime Software, Other Solutions
2) By Services : Managed Services, Consulting Or Customization Services, Training Services
3) By Deployment Model : On-Premises, Cloud, Hybrid
4) By Industry Vertical : Consumer And Retail, Oil And Gas, Industrial And Manufacturing, Energy And Mining, Aerospace And Defense, Construction, Chemicals, Pharmaceuticals And Healthcare, Food And Beverages, Other Industry Vertical
North America was the largest region in the waterway transportation software market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the waterway transportation software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Increasing maritime trade activities are expected to propel the growth of the waterway transportation software market. Maritime trade activities refer to the commercial exchange of goods and services conducted via sea routes using ships and vessels. Maritime trade is increasing due to globalization, expanded markets, better shipping technology, new routes, and rising global demand for goods, along with improved infrastructure and economic policies. Waterway transportation software is utilized in maritime trade for optimizing vessel scheduling, route planning, cargo logistics, regulatory compliance, and real-time communication among stakeholders. For instance, in September 2023, according to the data published by the United Nations Conference on Trade and Development (UNCTAD), a Switzerland-based intergovernmental body, maritime trade is projected to experience 2.4% growth in 2023, with further increases of over 2% anticipated between 2024 and 2028. Specifically, containerized trade volumes are forecast to rise by 1.2% in 2023. Therefore, the increasing waterborne trade activities will drive the growth of waterway transportation software market.
Key Industry Players
Major companies operating in the waterway transportation software market are Maersk A/S, Accenture plc, Oracle Corporation, SAP SE, Danaher Corporation, ABB Ltd, Cognizant Technology Solutions Corporation, Zebra Technologies Corporation, Flexport Inc., Kirby Corporation, DNV GL AS, American Commercial Lines Inc, Descartes Systems Group Inc., Aquatic Informatics Inc, LogiNext Solutions Pvt. Ltd., Jibe, Geniuserp, FourKites Inc., Trans-I Technologies Inc., Bass Software Solutions, Hidrovuas do Brasil, XPV Water Partners, Zero North, Veson Nautical Corporation, ABS Wavesight, FRETRON, Nautical Corporation
The waterway transportation software market report table of contents includes:
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List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Waterway Transportation Software Market, Segmentation By Solutions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Waterway Transportation Software Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Waterway Transportation Software Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 75: Maersk A/S Financial Performance
Table 76: Accenture plc Financial Performance
Table 77: Oracle Corporation Financial Performance
Table 78: SAP SE Financial Performance
Table 79: Danaher Corporation Financial Performance
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