PUBLISHER: The Business Research Company | PRODUCT CODE: 1436685
PUBLISHER: The Business Research Company | PRODUCT CODE: 1436685
A smart container incorporates Internet of Things (IoT) technology, sensors, GPS tracking, and a solar panel in shipping containers. Designed to regulate internal conditions, offer real-time GPS tracking, enhance security, and provide cargo condition information, smart containers generate digital shipment records. These records enable up-to-date tracking for customers and optimize container unloading and distribution.
The main offerings of smart containers include hardware, software, and services. A smart container monitoring solution combines hardware elements such as a GPRS modem, sensors collecting real-time data, a router, and various technologies such as GPS, cellular, LoRa WAN, Bluetooth Low Energy, among others. These are utilized by enterprises of different sizes and across various verticals such as food and beverages, pharmaceuticals, oil and gas, chemicals, and more.
The smart containers market research report is one of a series of new reports from The Business Research Company that provides smart container market statistics, including the smart container industry's global market size, regional shares, competitors with a smart container market share, detailed smart container market segments, market trends and opportunities, and any further data you may need to thrive in the smart container industry. This smart container market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The smart container market size has grown rapidly in recent years. It will grow from $3.4 billion in 2023 to $4.06 billion in 2024 at a compound annual growth rate (CAGR) of 19.6%. The expansion in the historical period can be credited to the increase in global trade, adherence to regulatory compliance, optimization of supply chains, concerns about security, and the demand for real-time monitoring.
The smart container market size is expected to see rapid growth in the next few years. It will grow to $7.85 billion in 2028 at a compound annual growth rate (CAGR) of 17.9%. The expansion in the projected timeframe can be attributed to the implementation of 5G, the advent of autonomous vehicles, initiatives for smart cities, the growth of e-commerce, and the development of intermodal transportation. Key trends anticipated in the forecast period encompass the adoption of edge computing, the integration of augmented reality in logistics, the emergence of smart Container-as-a-Service (CaaS), the utilization of digital twins, and the measurement of sustainability metrics.
The smart container market is expected to witness growth propelled by the increasing adoption of IoT devices. The Internet of Things (IoT) connects devices and enables communication in the cloud. Smart containers, equipped with IoT ecosystems, provide real-time GPS tracking, enhanced security, and condition information for improved decision-making. In 2021, there were over 10 billion active IoT devices, and this number is estimated to exceed 25.4 billion by 2030. The rising adoption of IoT devices is a significant driver for the smart container market.
The smart container market is poised for growth due to the increased focus on end-to-end (E2E) supply chain visibility. E2E supply chain visibility ensures seamless coordination and transparency throughout the entire supply chain, allowing for accurate arrival predictions and improved decision-making. According to a PwC survey, 77% of UK digital champions in the industrial manufacturing sector have adopted solutions for end-to-end supply chain visibility. This focus on supply chain visibility is driving the growth of the smart container market.
The smart container market is witnessing technological advancements, particularly in cooling technology. SkyCell, a Switzerland-based company specializing in pharmaceutical supply chains, launched the Ultra-Cold smart container in December 2020. This container, equipped with patented cooling technology, ensures the safe transportation of temperature-sensitive COVID-19 vaccines. With the ability to maintain a steady temperature between -60 &deC and -80 &deC for over 120 hours without recharging, it represents a significant advancement in smart container technology.
Major companies are developing innovative products with advanced technologies such as Long-range Wide Area Network (LoRaWAN). In April 2022, Nexxiot AG launched the Nexxiot Cargo Monitor, a sensor device offering real-time visibility of the location, status, and condition of shipments. This device is designed to monitor the transportation of high-value and sensitive products, including perishables and pharmaceuticals.
In December 2022, Traxens, a France-based service company providing smart-container services for the supply-chain industry, acquired NEXT4 for an undisclosed amount. This acquisition empowers Traxens with the technology portfolio of NEXT4, enhancing its ability to provide top-notch services to its customers. NEXT4, based in France, operates in the smart containers sector.
Major companies operating in the smart container market report are American Telephone and Telegraph, MSC Mediterranean Shipping Company S.A., CMA CGM Societe Anonyme, Hapag-Lloyd AG, Smart Containers Group Ltd., Carrier Transicold, Emerson Electric Co., Thermo King Corporation, Sealand - A Maersk Company A/S, Maersk Container Industry AS, Savi Technology Inc., ORBCOMM Inc., Sensitech Inc., Phillips Connect Technologies LLC, Nexiot AG, Zillionsource Technologies Company Limited, Ocean Insights GmbH, Clearpath Robotics, Traxens S.A., Identec Solutions AG, Globe Tracker ApS, Monnit Corporation, CargoSense Inc., SecureSystem GmbH, Ambrosus AG, Roambee Corporation, Starcom Systems, AELER Societe par Actions Simplifiee, Loginno Logistic Innovation Ltd., Conweigh Pty Ltd
Asia-Pacific was the largest region in the smart container market in 2023. The regions covered in the smart container market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the smart container market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The smart container market consists of revenues earned by entities by providing smart container services such as managed and professional services. The market value includes the value of related goods sold by the service provider or included within the service offering. The smart container market also includes sales of hardware, including sensors and antennas, IoT devices, modems, routers, and remote container management software, which are used in providing services. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Smart Container Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on smart container market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for smart container ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The smart container market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.