Home > Automotive > Automotive Logistics > Logistics Technology > Waterway Transportation Software Market
Waterway Transportation Software Market Size
Waterway Transportation Software Market was valued at USD 70.9 billion in 2022 and is expected to expand at 8% CAGR from 2023 to 2032, propelled by the rising demand for e water transport infrastructure investments. Governments and organizations globally are allocating significant resources to enhance and expand waterway transportation networks. This includes investments in ports, terminals, vessels, and related infrastructure. For instance, in April 2023, the government of Serbia announced a plan to invest USD 30.6 million in developing water transport infrastructure under the Sail Through Serbia initiative, aiming to improve the efficiency and accessibility of the country's waterway transportation.
Get more details on this report: Request Free Sample PDF
Digital solutions are fueling the waterway transportation software industry growth. These solutions, including route optimization, cargo tracking, and logistics management software, enhance operational efficiency, reduce costs, and ensure timely deliveries. With increased digitization, companies can access real-time data, streamline operations, and improve decision-making. For instance, in July 2023, Sedna, a maritime tech company, raised a total investment of USD 86 million. Sedna planned to use these funds to enhance trade efficiency, develop AI & data-driven features, and establish collaborations with other maritime tech firms. This investment reflects the industry's growing interest in digital solutions for maritime logistics and operations.
Report Attributes | Details |
---|---|
Base Year: | 2022 |
Market Size in 2022: | USD 70.9 Billion |
Forecast Period: | 2023 to 2032 |
Forecast Period 2023 to 2032 CAGR: | 8% |
2032 Value Projection: | USD 152 Billion |
Historical Data for: | 2018 to 2022 |
No. of Pages: | 250 |
Tables, Charts & Figures: | 351 |
Segments covered: | Solutions, services, deployment model, industry vertical |
Growth Drivers: |
|
Pitfalls & Challenges: |
|
Protecting critical data and systems from cyber threats is a significant challenge in the waterway transportation software market. The industry relies on digital systems for navigation, logistics, and communication. However, the increased digitization makes it susceptible to cyberattacks, potentially disrupting operations, compromising safety, and causing financial losses. Ensuring robust cybersecurity measures, regular updates, employee training, and compliance with maritime cybersecurity regulations are essential in safeguarding sensitive data and maintaining the integrity and security of waterway transportation systems.
COVID-19 Impact
COVID-19 pandemic had a negative impact on the waterway transportation software industry as it led to disruptions in global supply chains, reduced shipping activity, and delayed investment in software solutions. With lockdowns and restrictions, the demand for transportation services decreased, affecting software adoption. Uncertainty in the maritime sector led to a cautious approach, delaying investments in digital solutions.
Waterway Transportation Software Market Trends
The utilization of IoT devices and sensors is an emerging trend in the market. These technologies provide real-time monitoring of vessel conditions and cargo, offering valuable insights for enhanced safety, efficiency, and decision-making. IoT sensors track factors such as temperature, humidity, cargo integrity, and engine performance. This data enables predictive maintenance, route optimization, and timely intervention in cases of issues. It also aligns with growing environmental concerns, supporting sustainable, and secure waterway transportation operations.
Predictive analytics is an emerging trend in the waterway transportation software industry. It involves using advanced data analytics and AI to foresee maintenance needs and optimize shipping routes. By analyzing historical and real-time data, predictive analytics can predict when vessels and equipment require maintenance, minimizing downtime and reducing operational costs. It also aids in route optimization, allowing for efficient navigation, reduced fuel consumption, and on-time deliveries, contributing to improved overall performance and cost-efficiency in waterway transportation.
Waterway Transportation Software Market Analysis:
Get more details on this report: Request Free Sample PDF
Based on deployment model, the cloud segment is expected to witness significant growth. Cloud-based solutions offer scalability, flexibility, and cost-efficiency, making them an attractive choice for waterway transportation operators. By leveraging cloud technology, companies can easily access & share critical data, enhance collaboration, and ensure real-time updates, even in remote locations.
Get more details on this report: Request Free Sample PDF
Based on industry vertical, the consumer & retail segment accounted for around 16% market share in 2022. As e-commerce continues to surge, the demand for efficient waterway transportation of consumer goods will grow. Software solutions for route optimization, cargo tracking, and inventory management play a crucial role in meeting this demand. Real-time visibility, streamlined logistics, and cost-effective transport solutions are driving the adoption of such software, making the consumer & retail segment a key focus for development and expansion in the waterway transportation industry.
Get more details on this report: Request Free Sample PDF
North America dominated about 37% of the waterway transportation software market share in 2022. This region boasts a well-developed waterway transportation infrastructure, and there is a growing emphasis on optimizing operations through software solutions. The need for efficient cargo management, compliance with environmental regulations, and increased security measures are propelling the adoption of waterway transportation software. Furthermore, North America's focus on innovations and technology adoption positions it as a prominent market for the continued expansion of software solutions in the waterway transportation sector.
Waterway Transportation Software Market Share
The major players operating in the waterway transportation software industry are-
- ABS Wavesight
- Bass Software Ltd.
- Descartes Systems Group
- DNV
- JIBE
- Kirby Corporation
- SAP SE
- Veson Nautical Corporation
- Zero North
Descartes Systems Group, JIBE, and Bass Software Ltd. are the major players in the market due to their expertise in providing tailored software solutions for efficient waterway logistics and transportation management. Descartes offers logistics solutions, including those for waterway transportation, ensuring efficient operations. JIBE provides software for vessel and crew management, enhancing maritime logistics. Bass Software specializes in maritime operations software, supporting diverse aspects of waterway transportation.
Waterway Transportation Software Industry News
- In May 2023, Manhattan Associates unveiled next-generation yard management solution, designed to integrate seamlessly with its warehouse and transportation management systems. This unified cloud-native platform optimizes yard management, enhancing the supply chain's efficiency, visibility, and coordination.
This waterway transportation software market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments:
Click here to Buy Section of this Report
By Solutions
- Warehousing
- Vessel tracking
- Freight security
- Yard management
- Audit & claim
- Ship broker software
- Maritime software
- Others
By Services
- Managed services
- Consulting/Customization services
- Training services
By Deployment Model
- On-premises
- Cloud
- Hybrid
By Industry Vertical
- Consumer & retail
- Oil & gas
- Industrial & manufacturing
- Energy & mining
- Aerospace & defense
- Construction
- Chemicals
- Pharmaceuticals & healthcare
- Food & beverages
- Others
The above information is provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Nordics
- Asia Pacific
- China
- India
- Japan
- South Korea
- ANZ
- Southeast Asia
- Latin America
- Brazil
- Mexico
- Argentina
- MEA
- South Africa
- UAE
- Saudi Arabia
Frequently Asked Questions (FAQ) :