Ports along with the Industrial Revolution is in 4.0 Mode. Although Ports are relatively slower than other industries to adapt to automation owing to its large-scale infrastructure, interdependencies on north and southbound systems make it a challenge. Recent McKinsey reports suggested that successful automated ports show that careful planning and management can surmount these difficulties: operating expenses could fall by 25 to 55 percent and productivity could rise by 10 to 35 percent. And in the long run, these investments will lead the way toward a new paradigm—calling it Port 4.0
To get Smart, Ports need to go Digital
Expected Market by 2024
Expected CAGR from 2019 to 2025
Ports must adopt connected technologies that help stakeholders coordinate and collaborate to boost productivity, cut costs, and gain a competitive edge. Digitalization will allow for optimization of Data analytics and data exchange becoming a new comparative advantage for ports.
Statistics Source: BCG Analysis