Home > Automotive > Automotive Logistics > Logistics Technology > Waterway Transportation Software Market

Waterway Transportation Software Market Analysis

  • Report ID: GMI7140
  • Published Date: Jul 2024
  • Report Format: PDF

Waterway Transportation Software Market Analysis

Based on the deployment model, the market is divided into on-premises, cloud, and hybrid. The cloud segment held a market share of over 50% in 2023 and is expected to reach around USD 80 billion by 2032. Cloud-based solutions offer scalability, flexibility, and cost-efficiency, making them an attractive choice for waterway transportation operators.

 

For instance, in July 2023, Unafix, a Dutch start-up, introduced a cloud-based charter platform for shipowners and brokers. This platform streamlines the chartering process, offering efficient communication and document management while enhancing collaborations between stakeholders in the maritime industry. It provides a centralized digital solution to optimize ship chartering operations, reflecting the growing interest in technology-driven solutions within the maritime sector. By leveraging cloud technology, companies can easily access & share critical data, enhance collaboration, and ensure real-time updates, even in remote locations.

 

Waterway Transportation Software Market Share, By Industry Vertical, 2023

Based on industry vertical, the waterway transportation software market is categorized into consumer & retail, oil & gas, industrial & manufacturing, energy & mining, aerospace & defense, construction, chemicals, pharmaceuticals & healthcare, food & beverages, and others. The oil & gas segment accounted for a market share of around 22% in 2023.

 

The oil and gas industry is highly regulated to guarantee safety and environmental protection. The presence of international maritime laws and regulations including MARPOL (International Convention for the Prevention of Pollution from Ships) and SOLAS (Safety of Life at Sea) mandates the use of advanced transportation software solutions that offer tools to monitor and reduce potential hazards related to the transport of hazardous materials. Furthermore, this advanced software helps in enhancing shipping routes and lowering fuel consumption and operations in the oil & gas sector, where efficiency in transportation impacts profitability.

 

North America Waterway Transportation Software Market, 2022-2032, (USD Billion)

North America is experiencing growth in the waterway transportation software market. The region accounted for a market share of around 35% in 2023. 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. For instance, in November 2023, ABS Wavesight, a maritime software service company announced updates to Nautical Systems, its fleet management software. The updates are aimed at enhancing efficiencies in fleet operations, streamlining and Optimizing maintenance tasks, and enhancing procurement efficiency.

 

Moreover, stricter regulations on emissions and environmental impact are driving the adoption of advanced software solutions for optimizing fuel efficiency and reducing carbon footprints in waterway transportation in Europe. Furthermore, EU policies and initiatives incentivize the use of digital technologies to achieve sustainable transport goals.

 

China's BRI initiative has led to high investments in port and inland waterway infrastructure encouraging connectivity and efficiency improvements. Increased maritime trade volumes along the BRI routes have increased the demand for advanced software solutions for managing logistics and enhancing operational efficiency.

 

Increasing investments in port infrastructure and inland waterway projects across MEA is a major factor driving the growth of the market in the region. Furthermore, rapid economic growth and expanding trade activities in MEA are boosting the demand for efficient transportation and logistics solutions.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of waterway transportation software reached USD 75 billion in 2023 and will witness over 7.5% CAGR from 2024 to 2032, due to the growing number of water transport infrastructure investments worldwide.

The oil & gas industry vertical segment held 22% share of the waterway transportation software industry in 2023 on account of presence of international maritime laws and regulations to mandate the use of advanced transportation software solutions

North America held 35% of the market share in 2023, owing to the presence of well-developed waterway transportation infrastructure in the region.

ABS Wavesight, Bass Software Ltd., Accenture Plc, Descartes Systems Group, DNV GL, SAP SE, and Oracle Corporation are some of the major waterway transportation software companies worldwide.

Waterway Transportation Software Market Scope

Buy Now


Premium Report Details

  • Base Year: 2023
  • Companies covered: 21
  • Tables & Figures: 330
  • Countries covered: 25
  • Pages: 280
 Download Free Sample