Smart port market to reach $23.1b by 2034 on strong maritime trade

UNCTAD said ocean shipping handles nearly 80% of traded goods worldwide.

The global smart port market is expected to reach $23.10b by 2034, driven by rising international maritime trade, according to a Fortune Business Insights report.

The market was valued at $3.4b in 2025 and is expected to reach $4.2b in 2026, representing a compound annual growth rate of 23.80% during the forecast period.

Smart ports use technologies such as big data, Internet of Things (IoT), and automation to improve the safety, efficiency, and security of port operations.

Demand is expected to increase as ports seek to simplify complex operations such as inventory control, cargo handling, and logistics support.

Nearly 80% of global trade goods are shipped by sea, making ocean shipping the primary mode of transport for global commerce, the report said, citing the United Nations Conference on Trade and Development (UNCTAD).

Maritime trade volumes have continued to rise since the COVID-19 pandemic, with ocean shipping remaining more practical and cost-effective for international trade than rail or road transport.

Asia-Pacific dominated the market in 2024 as a key region for international maritime trade. The region accounted for nearly 54% of global maritime trade in 2021, according to the UNCTAD Review of Maritime Transport.

Fast economic growth in the region's energy and manufacturing sectors has also increased maritime trade activity.

The seaport segment dominated the market by port type in 2024, driven by demand for greater operational efficiency. Rising environmental concerns are also accelerating the conversion of seaports into smart ports.

By technology, the IoT segment held the largest market share in 2024, as it addresses demand for better operational safety, efficiency, and decision-making.

By element, the smart infrastructure segment held the largest market share as port managers seek to reduce operational expenses and improve efficiency.

Companies are also incorporating advanced technologies into existing port infrastructure to transform conventional ports into smart ports, helping to improve operational efficiency and cargo-transport safety.

However, concerns over data breaches and inadequate digital security for sensitive cargo data could hinder market growth, the report said.