The smart ports market could reach $23.1 billion by 2034

Sharp growth expected in the coming years

The global smart ports market was worth $3.4 billion in 2025 and is expected to reach $4.2 billion in 2026. According to Fortune Business Insights, the market could expand to $23.10 billion by 2034, representing a compound annual growth rate of 23.80 percent over the forecast period.

Smart ports are facilities that use technologies including big data, the Internet of Things (IoT) and automation to improve the safety, efficiency and security of port operations. The goal is to develop the entire port ecosystem, including equipment, infrastructure and staff.

According to the report, these technologies could help simplify complex tasks such as inventory control, cargo handling and logistics support.

IoT and infrastructure take center stage

Among port types, the seaports segment was the dominant one in 2024. Fortune Business Insights attributes this to the growing need for greater operational efficiency and stronger environmental considerations.

By technology, the Internet of Things accounted for the largest market share in 2024. According to the report, IoT plays an important role in improving operational safety, efficiency and decision-making processes. The technologies covered also include blockchain, process automation and artificial intelligence.

Among market components, smart port infrastructure held the largest share. According to the report, port operators are seeking solutions that can reduce operating expenses and improve efficiency. Key areas include terminal automation, cargo handling, smart security and protection, traffic management systems and port community systems.

Expanding maritime trade drives the market

According to the report, the growing volume of international maritime trade could boost demand for smart ports. A statement citing UNCTAD says that nearly 80 percent of the world's traded goods are transported by sea. Maritime shipping is an important instrument of international trade and, according to the statement, can be more practical and cost-effective for international freight traffic than rail or road transport.

As cargo volumes increase, the efficient handling and tracking of goods could become increasingly important. However, data security concerns could also hinder growth. According to Fortune Business Insights, inadequate digital protection for the transmission of sensitive data related to cargo transport could lead to data breaches.

Geographically, Asia-Pacific dominated the global market in 2024. According to the statement, the region accounted for nearly 54 percent of global maritime trade in 2021, based on data from the UNCTAD Review of Maritime Transport. In North America, demand for containerized goods, reliable port operations, real-time information and supply chain transparency are supporting growth.

Port operators could upgrade existing systems

Market participants are focusing on integrating advanced technologies into existing port infrastructure. According to the statement, this could improve port operational efficiency and increase the safety of cargo transport.

The companies featured in the report include Intel, Trelleborg, Kaleris, Huawei Technologies, ABB, Abu Dhabi Ports, Royal Dutch Shell, Cisco Systems, IBM and KONGSBERG. In September 2022, IBM announced a partnership with the Valencia Port Foundation. According to the statement, the aim of the collaboration was to improve the port's business processes by creating credible, transparent and verifiable data sharing within the port ecosystem.

Based on the forecast, users and operators could see the change primarily in more efficient cargo handling, improved tracking and more automated processes. Alongside infrastructure development, addressing digital security could also influence the pace of market expansion.