According to the latest report by IMARC Group, titled “Smart Container Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global smart container market size grew at a CAGR of around 18% during 2015-2020. Smart containers refer to shipping and transportation containers that are used in freight and logistics. They are often integrated with advanced technologies that enable them to offer real-time tracking and monitoring of the shipment. Moreover, these containers assist in identifying lost or misrouted containers while also offering pertinent information, such as humidity, pressure and temperature of the containers. They involve the utilization of the Internet of Things (IoT), sensors, GPS tracking, global positioning system, Long Range Wide Area Network (LoRa WAN) and solar panels. They are commonly marked with a unique identification code that requires to be scanned at entry and exit points by the transportation management system (TMS).
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Smart Container Market Trends:
The global market is majorly driven by considerable growth in the logistics sector. There has been a rising requirement for secured transportation of goods from numerous industries, such as chemical, oil and gas, and pharmaceutical, which has led numerous companies to invest in smart containers. Moreover, continual technological advancements in the market are creating a positive outlook for the market. For instance, the widespread integration of the Internet of Things (IoT), blockchain and big data solutions with these containers are expected to provide a boost to the market growth. Additionally, the increasing deployment of LoRa WAN technology for efficient management of shipments is also acting as a major growth-inducing factor since this technology provides improved bandwidth capabilities to aid in in-depth indoor penetration and reduce the chances of signal reflection from the container’s surface. Some of the other factors contributing to the market growth include the growing popularity of online grocery services and the continual investments for improving container management technologies. On account of the aforementioned factors, the market to grow at a CAGR of around 12% during 2021-2026.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Globe Tracker
- Nexiot AG
- Orbcomm Inc.
- Phillips Connect Technologies LLC
- Robert Bosch Manufacturing Solutions GmbH
- Smart Containers Group AG
- Zillionsource Technologies Co. Ltd
Smart Container Market Segmentation:
Our report has categorized the market based on region, offering, technology and vertical.
Market Breakup by Offering:
Market Breakup by Technology:
- GPS (Global Positioning System)
- LoRa WAN (Long Range Wide Area Network)
- Bluetooth Low Energy (BLE)
Market Breakup by Vertical:
- Food and Beverages
- Oil and Gas
Market 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
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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