Software adopted by shipping companies to boost their business efficacy coupled with freight security is termed as waterway transportation software.
Lately, the shipping companies have adopted various technological advancements, which has increased the data volume generated by such companies. The technological advancements embraced by the shipping companies are social media, data building and cloud.
The waterway transportation software and services play a vital role in lowering the operation cost and leveraging the business performance.
Rising popularity of containerization and emergence of new ports has influenced the growth of the market to a greater extent.
Advent of containerization has brought about a dramatic shift in the industry. However, lack of awareness about the advantages offered by waterway transportation software and services has hampered market growth to a greater extent.
On the other hand, concerns over piracy incidents as well as ship accidents, which has persuaded shipping companies to consider solutions including managed services and audit software, is anticipated to create greater opportunities.
The market segments covered in the market research report includes solution, service, deployment model, vertical and geography. The solution covered in the market research report are freight security, audit and claim software, maritime software and more.
Services discussed during the study include managed services, consulting services and training services. Popular deployment model covered are hosted, on -premise and hybrid.
Business verticals served by waterway transportation software and services market consists of chemicals, oil and gas, retail and consumers, mining and energy and may others. Regions such as North America, Europe, Asia -Pacific and LAMEA.
A closer look at the competitive landscape reveals that major IT brands are busy launching solutions and generating clients in the same month itself. Prominent market players are also seen acquiring new companies or local market players to maintain their competitive edge.
Other business strategies favored by the companies include constant upgradation, joint ventures and collaborations. Key market players active in the waterway transportation software and services market are High Jump Software, Veson Nautical, SAP, Aljex Software, Accenture, Trans-I Technologies, Descartes Systems and Accenture.
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