PUBLISHER: The Business Research Company | PRODUCT CODE: 1574685
PUBLISHER: The Business Research Company | PRODUCT CODE: 1574685
Container tracking involves utilizing technology to oversee and manage the location, condition, and status of shipping containers throughout their journey from origin to destination. This process employs real-time global positioning systems, radio frequency identification (RFID), and Internet of Things (IoT) technologies to enhance visibility and efficiency within the supply chain.
The primary components of container tracking include hardware, software, and services. Hardware encompasses the physical devices used to monitor and record the location and condition of containers, such as RFID, global positioning systems (GPS), cellular, and satellite systems. Container tracking is applicable across various transportation modes, including maritime, land, and air. It serves end users in diverse sectors such as food and beverage, consumer goods, vehicle transport, healthcare, and industrial products.
The container tracking market research report is one of a series of new reports from The Business Research Company that provides container tracking market statistics, including the container tracking industry's global market size, regional shares, competitors with a container tracking market share, detailed container tracking market segments, market trends and opportunities, and any further data you may need to thrive in the container tracking industry. This container tracking market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The container tracking market size has grown strongly in recent years. It will grow from $9.36 billion in 2023 to $10.11 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth during the historic period can be attributed to rising consumer demand for transparency, a greater need for efficient and reliable logistics solutions, an increase in the volume of goods transported, a surge in seaborne trade, and heightened safety standards at sea.
The container tracking market size is expected to see strong growth in the next few years. It will grow to $13.78 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth during the forecast period can be attributed to the increasing emphasis on sustainability, the expansion of international trade and globalization, a focus on enhancing fleet optimization and efficiency, rising trade volumes, and ongoing infrastructure development. Major trends in this period include the advancement of blockchain applications, improved data analytics and visualization, the use of autonomous vehicles and drones, integration with supply chain platforms, and a stronger focus on environmental sustainability.
The rising incidents of cargo theft are expected to drive the growth of the container tracking market. Cargo theft is increasing due to heightened economic pressures leading to more criminal activity, and the sophistication of theft methods surpassing current security measures. Additionally, the surge in e-commerce has expanded the volume and value of goods transported, making cargo an appealing target for thieves. Container tracking addresses this issue by offering real-time location and status updates, enabling immediate response to unauthorized movements. It also improves overall security through detailed monitoring and historical data analysis. For instance, in May 2024, TAPA EMEA, a Netherlands-based not-for-profit industry association, reported a 35.46% rise in transport theft cases in the European Union in 2023 compared to 2022, with incidents increasing from 6,113 to 8,281. The financial losses from these crimes amounted to $594.16 million (EUR 549 million), marking a 438% increase from 2022 and a staggering 1,076% rise from 2021. Consequently, rising cargo theft is fueling the growth of the container tracking market.
Leading companies in the container tracking market are focusing on developing advanced solutions, such as dry container tracking, to enhance security, improve logistics efficiency, and provide real-time visibility. Dry container tracking involves monitoring and managing standard shipping containers used for cargo that does not need special conditions, such as refrigeration or controlled environments. For example, in April 2024, Hapag-Lloyd, a Germany-based maritime transport company, introduced a new live position product that provides comprehensive, on-demand door-to-door visibility through extensive use of Internet of Things (IoT) technology. This product features real-time visibility of shipments, a user-friendly interface for tracking by container or booking number, on-demand information updates, and future plans for API integration and ETA predictions.
In April 2024, Sinay, a France-based big data platform developer, acquired SafeCube for an undisclosed amount. This acquisition is intended to expand Sinay's container tracking capabilities and offer more comprehensive logistics solutions to its maritime industry customers. SafeCube, also based in France, specializes in an end-to-end shipment tracking platform involving container tracking.
Major companies operating in the container tracking market are A.P. Moller - Maersk A/S, CMA CGM Group, Cosco Shipping Lines Co Ltd., NetSuite Inc., Hapag-Lloyd AG, Mediterranean Shipping Company S.A., Orient Overseas Container Line Limited, DP World Logistics FZE, Yang Ming Marine Transport Corporation, Zim Integrated Shipping Services Ltd., Evergreen Marine Corporation, Wan Hai Lines Ltd., Kawasaki Kisen Kaisha Ltd, Hyundai Merchant Marine Co., Ltd., Zebra Technologies Corporation, Ocean Network Express Pte. Ltd., Project44 Inc., CargoWise, E2open Parent Holdings Inc., ORBCOMM Inc., Hanjin Logistics Corporation, Pacific International Lines (Pte) Ltd., GoComet, CargoSmart Ltd.
Asia-Pacific was the largest region in the container tracking market in 2023. The regions covered in the container tracking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the container tracking market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The container tracking market includes revenues earned by entities by providing services such as real-time location tracking, condition monitoring, customizable alerts and notifications, security solutions, and consulting and support services. The market value includes the value of related goods sold by the service provider or included within the service offering. The container tracking market also consists of sales of radio frequency identification (RFID) tags, environmental sensors, alert systems, batteries, and solar panels. 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.
Container Tracking 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 container tracking 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 container tracking ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The container tracking 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.