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Thursday, August 29, 2019 

According to a new Transparency Market Research report pertaining to the global digital transformation of maritime freight, the market is projected to reach a value of about US$ 38.4 bn by 2027.

The market is projected to expand at an annual rate of about 10% from 2019 to 2027. Growth can be attributed to increased importance and dependency on IT and digitisation within the shipping industry. Over the forecast period, Asia Pacific is anticipated to grow rapidly digital transformation. In terms of share, the market is dominated by North America, followed by Europe. The software solution segment was valued at cUS$ 15.3 bn in 2017.

Digital transformation has drastically improved the efficiencies of marine freight companies by enabling the integration of artificial intelligence technologies, blockchain, Internet of Things, and robotics with shipping models.

In terms of region, the market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is expected to dominate during the forecast period. Asia Pacific is expected to see increasing growth, with China and India being the major markets in the region. Markets in the Middle East & Africa, Europe, and South America are expected to expand rapidly during the forecast period.

The report provides in-depth segment analysis, thereby providing insights at macro as well as micro levels.

The research study includes profiles of leading companies including IBM Corporation, Oracle, SP SE, Syntel Inc, Hexaware Technologies, ABB, Tech Mahindra Limited, Kintetsu World Express Inc, Advantech Co, Mindtree Ltd, DigiLogistics Technology, Partner Tech Corp, 3GTMS, 4flow AG, and Logistic Solutions, Inc.

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