Owing to growing urbanization and industrialization, the shipping or transportation companies have adopted a number of techniques such as new software development combined with cargo security which is termed as waterway transportation software and services. The use of cloud computing, Internet of Things, Machine to Machine, social media, and data building has resulted in a huge collection of data from the shipping industries.
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The major factor responsible for the development and growth of the global waterway transportation software and services market is the beginning of containerization and also the rising demand from the developing economies. The increase in the standards of the transportation processes has enhanced the growth of the global market tremendously. The demand for undamaged, quick delivery and minimum travel expenditure across long distances has resulted in the development of Machine to Machine communication which is expected to propel the global market growth. The growing demand for the transportation of the products from the west to east or north to south or anywhere around the globe has resulted in the growth of the global waterway transportation software market and services. The advancement in the transportation software and services sector has helped the business boost as well as lower the operation cost. The major drawback is the economy crisis that persists in this sector since a very long time.
The global waterway transportation software and services market is segmented based on services, solution, deployment type, and vertical. The services segment is divided into consulting or customization services, managed services, and training services. The solution segment is categorized into maritime software, audit and claim, yard management, freight security, warehousing, vessel tracking, ship broker software, and others. The deployment segment is bifurcated into on-premise, hybrid, and hosted. The vertical segment is classified as chemicals, food and beverages, construction, energy and mining, oil and gas, pharmaceuticals and healthcare, industrial and manufacturing, aerospace and defense, consumer and retail, and others.
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The water transportation software and services market in the developing regions such as the Middle East and Africa and Asia-Pacific is expected to attract a lot of foreign investors and industries. The increasing demand for imports and exports in the emerging regions such as China and India helps influence the growth of the market in the Asia-Pacific regions.
The major players in the global water transportation software and services market include Aljex Software, Accenture, DNV GL, BASS, Veson Nautical, SAP, Cognizant, High Jump Software, Trans-i Technology, Descartes Systems, and SAP. These competitive players have started implementing a number of strategies such as bonds, agreements, partnerships, new product launch, and joint ventures in order to acquire a high position in the global market.
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