According to the latest report by IMARC Group, titled “Smart Container Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on smart container market report. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global smart container market is expected to exhibit a growth rate (CAGR) of 16.2% during 2023-2028.
A smart container represents the transportation container that provides real-time tracking and monitoring of the shipment. It usually uses the global positioning system (GOS), Long Range Wide Area Network (LoRa WAN), cellular technologies, etc., to track the cargo throughout the journey and identify misrouted or lost containers. In line with this, a smart container is marked with a unique identification code that is scanned at every entry and exit point of the yard by the transportation management system (TMS). The sensors installed in the device give accurate information regarding the temperature, humidity, and pressure in the containers.
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Market Trends:
The expanding transportation industry across countries is primarily augmenting the smart container market. Additionally, the increasing need for efficient and secure shipping containers among several sectors, such as pharmaceuticals, oil and gas, food and beverage(F&B), chemical, etc., is acting as another significant growth-inducing factor. Besides this, the widespread adoption of LoRa WAN technology for the management of smart containers is positively influencing the global market. Moreover, it offers higher bandwidth capabilities that facilitate in-depth indoor penetration and reduce signal reflection from the surface of the container, which is further bolstering the market growth. Apart from this, the rising investments to improve container management technologies and the growing number of trade and e-commerce activities are also catalyzing the global market. Furthermore, various technological advancements, including the elevating integration of connected devices with the Internet of Things (IoT), blockchain, and Big Data solutions to minimize the spoilage of perishable products caused by temperature variations, are expected to fuel the smart container market in the coming years.
In addition to these benefits, smart containers can also help to streamline logistics operations and reduce costs. By providing real-time data on cargo status and location, shipping companies can optimize their routing and scheduling, reduce transit times, and avoid unnecessary delays or disruptions. This can help to improve efficiency and productivity, while also reducing costs and improving customer satisfaction.
Despite these advantages, the smart container market still faces several challenges and barriers to adoption. One of the primary challenges is the high cost of implementing smart container technology, which can be a significant investment for shipping companies. In addition, there are concerns around data privacy and security, as well as the need for standardized communication protocols and data formats to ensure interoperability between different smart container systems.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Ambrosus
- Globe Tracker
- Nexiot AG
- Orbcomm Inc.
- Phillips Connect Technologies LLC
- Robert Bosch Manufacturing Solutions GmbH
- Smart Containers Group AG
- SeaLand
- Traxens
- Zillionsource Technologies Co. Ltd
Smart Container Market Segmentation:
Our report has categorized the market based on region, offering, technology and vertical.
Breakup by Offering:
- Hardware
- Software
- Services
Breakup by Technology:
- GPS (Global Positioning System)
- Cellular
- LoRa WAN (Long Range Wide Area Network)
- Bluetooth Low Energy (BLE)
- Others
Breakup by Vertical:
- Food and Beverages
- Pharmaceuticals
- Oil and Gas
- Chemicals
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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