July 02, 2020
According to recent study titled ‘Global Harbor Management Software Market Size study with COVID-19 impact, by Type (Management, Monitoring, Test and Communication), by Application (Warehousing, Vessel Tracking, Freight Security and Ship Broker) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global harbor management software market is expected to show an appreciable growth rate through 2027.
As per the report, focus towards effective management, tracking, and controlling of various harbor operations, along with rapid development of new harbors and increasing seaborne cross border trade activities are projected to drive the growth of global harbor management software market. According to Development Statistics and Information Branch UNCTAD, global sea trade volume peaked at 11 billion tons in 2018. Asia was the largest trading region, with its seaports accounting for 4.5 billion tons of goods loading and 6.7 billion tons of unloading in 2018.
For the record, harbor management software is utilized by harbor operators for an efficient management of operations. The software offers features that safeguard the vessels by detecting location of the vessel close to the harbor, within a certain radius. It provides an interface for effective customer management and facilitates mobile & online payments, which further encourages the product adoption.
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On the contrary, high costs associated with implementation, customization, maintenance, licensing of the software, along with additional cost of training will negatively impact the growth of global harbor management software market.
Additionally, the COVID-19 pandemic has halted several seaborne activities, trade, and transportation owing to strict lockdown measures for containing the spread of coronavirus. This is expected to limit the industry growth over the forecast duration, claims the report.
From a geographical standpoint, global harbor management software market is fragmented into North America, Europe, Asia Pacific, Latin America, and Rest of the World. North America leads the industry growth, owing to technological advancement in harbors management software and establishments of new harbors in the region.
Meanwhile, Asia Pacific harbor management software market is slated to record a strong CAGR over 2020-2027, attributable to booming international sea trade activities in the region.
Key players operating in global harbor management software market are Harbour Mastery, Inc., Capterra, J.F. Brennan Company, Inc., TPG Marine Software, LLC, Saab Technologies, Mission Critical Software, Jade Logistics, Online Mooring LLC, Harbor Assist, and Prolifik Software.