Waterway Transportation Software and Services Market worth $88.7 Billion by 2019

According to a new market research report “Waterway Transportation Software and Services Market by Solution (Warehousing, Vessel Tracking, Freight Security, Yard Management, Ship Broker, and Maritime Software), & by Service (Managed, Consulting, Simulation & Training) - Global Forecast to 2019”, published by MarketsandMarkets, segments the global market into various sub-segments with in-depth analysis and forecasting of revenues. It also identifies the drivers and restraints for this market with insights into trends, opportunities, and challenges.

Browse 73 market data tables and 44 figures spread through 138 pages and in-depth TOC on “Waterway Transportation Software and Services Market - Global Forecast to 2019”
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The increased demand from the developing economies and introduction of containerization are playing a major role in shaping the future of the waterway transportation software and services market. As the transportation industry is booming globally the standards for transportation has drastically enhanced. Organizations need to deliver the goods as quickly as possible, without any damage and at minimum cost. Due to these requirements, the transportation industry is witnessing dramatic technological changes such as Machine to Machine (M2M) communication. In this highly complex industry, daily tons of cargo is transported from one region to another globally, which generates huge amount of data. This huge pile of data is now being intelligently used to manage the fleet and ships. The M2M communication enables shippers to make decisions based on this information thus increasing the operational efficiency. These technological changes are now driving the waterway transportation software and services market and shaping its future growth.

The introduction of containerization has permitted easy handling and has eliminated the concept of repackaging while changing the mode of transportation, which has reduced the freight security issue and thereby rejuvenating the waterway transportation market. The development of new ports and new sea routes has opened new ways for the waterborne trade. The emerging markets in the developing economies of Asia-Pacific (APAC) and Middle East and Africa (MEA) are a big opportunity for the software and services market in the marine transportation industry. These lucrative markets are driven by the increased demand of import and export from countries such as China and India. Also, the world statistics of the shipping traffic is expected to rise by 4.9% from last year (2013).

MarketsandMarkets has segmented the global waterway transportation software and services market by solution: warehousing, vessel tracking, freight security, yard management, audit & claim software, maritime software, and others; by service: consulting/customization, managed, and simulation & training services; by deployment type: on-premise, hosted, and hybrid; by vertical: consumer & retail, oil & gas, industrial & manufacturing, energy & mining, aerospace & defense, construction, chemicals, pharmaceuticals & healthcare, food & beverages and others; and by region: North America (NA), Asia-Pacific (APAC), Europe (EU), Middle East and Africa (MEA), and Latin America (LA). The biggest player of this market who contributes to the major share include Accenture, BASS, DNV GL, Aljex Software, Cognizant, SAP, High Jump Software, Descartes Systems, Trans-i Technology, and Veson Nautical.

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MarketsandMarkets expects that the global waterway transportation software and services market is estimated to be $57.1 billion in 2014 and is expected to grow to $88.7 billion in 2019. This represents an estimated Compound Annual Growth Rate (CAGR) of 9.21% from 2014 to 2019. In the current scenario, Europe is expected to be the biggest market on the basis of spending and adoption of the software and services in the waterway transportation market.

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