Smart Port Market to Grow $5.7 Billion by 2027 The global smart port market is projected to reach USD 5.7 billion by 2027 from an estimated USD 1.9 billion in 2022, at a CAGR of 24.3% during the forecast period. Northbrook, IL 60062 -- ( SBWIRE ) -- 08|11|2022 -- Smart Port Market is projected to grow from USD 1.9 billion in 2022 to USD 5.7 billion by 2027, at a CAGR of 24.3%, according to a new report by MarketsandMarkets™. Growing maritime trade activities internationally across industries, Growing decarbonization of the maritime industry which increases the health benefit and reduce carbon emission globally, hence these are driving the demand for smart ports globally. As the real-time geospatial data improve a large number of port operations such as it improved the freight operations by increasing visibility and assisting shipping companies which will help to navigate the current supply chain and it helped to grow the Smart Port Market. Moreover, the fourth industrial revolution, referred to as Industry 4.0 (4IR), is the cyber-physical transformation of manufacturing also creating demand for the smart port as the primary application of 4IR was for smart factories so it will help in increasing the demand for the Smart Port Market.