Waterway transportation is an important part of the global
transportation market as trend shows that around 80% of heavy freight
volume is transported with the help of waterways. Various modes of
transportation that includes land, water or air are more reliable,
cost effective and efficient which are generally influenced by
changing demand. Freight security coupled with various software
adopted by different shipping companies aimed at boosting business
efficacy is termed as waterway transportation software. Cloud, social
media and data building are some of the technological advancements
adopted by various shipping companies. In addition, use of Internet
of Things and cloud computing has resulted in huge data collection
from various shipping companies. Waterway transportation software and
services play a very important role in leveraging business
performance followed by lowering operation cost. The global Waterway
Transportation Software and Services market is expected to grow at a
steady rate during the forecast period from 2017 to 2025.
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The global market has been bifurcated based on deployment type,
solution, service, and end user industry. Based on solution, the
market is segmented into maritime software, vessel tracking,
warehousing, yard management and others. By service, the market has
been segmented into consulting or customization services, managed
services and simulation and training services. In terms of
deployment type, the market is segmented into hybrid, on-premises and
hosted. End user industry segment is further segregated into food and
beverages, chemicals, energy, mining, oil and gas and aerospace and
defense among others. Innovative technological developments that
includes introduction of containerization and Machine-to-Machine
(M2M) communication have changed the transportation industry with
significant changes in waterway transport. This serves as one of the
major driving factor in the growth of this market. In addition, new
port developments in developing countries followed by transportation
of products and advancement in transportation service and software
sector aimed at boosting and lowering the operational cost of
business has augmented the demand of global Waterway Transportation
Software and Services market during the forecast period. However,
lack of awareness followed by unwillingness of various small shipping
companies to conform to new methods and advancements in
transportation is restraining the growth of this market. In addition,
lack of standardization of various environment laws and policies is
also hampering the growth of this market. However, growing demand
from BRICS and African countries followed by expansion of new sea
routes serves as key opportunity factor in the growth of global
Waterway Transportation Software and Services market. In addition,
introduction of next-generation maritime surveillance systems also
serves as opportunity in the global Waterway Transportation Software
and Services market.
Geographically, global Waterway Transportation Software and Services
market has been segmented into North America, Europe, Asia Pacific,
Middle- East and Africa (MEA) and Latin America. In 2016, Asia
Pacific region is the fastest growing market for global Waterway
Transportation Software and Services market .The Waterway
Transportation Software and Services market in the developing regions
such as the Asia-Pacific and Middle East and Africa is projected to
attract a lot of foreign industries and investors during the forecast
period. The increasing demand for imports and exports in the China
and India aimed at influencing the growth of the market in the
Asia-Pacific regions. All these factors are expected to increase the
demand of Waterway Transportation Software and Services market during
the forecast period from 2017- 2025.
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The major players operating in the global Waterway Transportation
Software and Services market includes Accenture(Republic of Ireland),
DNV GL(Norway), Cognizant(The U.S), High Jump Software(The U.S),
Trans-i Technology(The U.S), BASS(Norway), Veson Nautical(The
U.S),Aljex Software(The U.S), SAP (Germany) and Descartes
Systems(Canada) among others.
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