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Global Waterway Transportation Software Market Development Status And Future Statistics By 2033

Waterway Transportation Software Market

Waterway Transportation Software Market

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.

Market Overview -
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.

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Impact Of Increasing Maritime Trade On Waterway Transportation Software Market
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.

Competitive Landscape -
Major companies operating in the waterway transportation software market are Maersk A/S, 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

Cloud-Based Solutions Transforming Waterway Transportation
Major companies in the waterway transportation software market are increasing their reliance on technologies such as cloud-based transport management systems to maintain competitiveness and enhance operational efficiency. This cloud-based transport management system provides functionalities such as route optimization, real-time tracking, inventory management, freight scheduling, and performance analytics, accessible from any internet-connected device. For instance, in September 2023, CocoonFMS Ltd., a UK-based logistics software company, unveiled CocoonOPS, its latest transport management system designed to revolutionize operations for freight forwarders. CocoonOPS aims to transform freight forwarding operations, particularly for small and medium-sized businesses, by offering real-time shipment tracking for air, sea, road, and rail, as well as features such as demurrage and detention cost calculations, customizable workflows, automated tasks, and document generation.

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Key Segments -
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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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