Smart container market size and share to exceed USD 7.1 billion by 2025, growing at a CAGR of 17%

Smart container market growth is driven by increasing digitalization in shipping sectors

Luton, Bedfordshire, UK, Sept. 16, 2022 (GLOBE NEWSWIRE) — Accuracy Consultancy, the market research and consultancy wing of Improve Digital Consultancy Private Limited, has completed and published the final version of the report of detailed research on Smart Containers Market.

The global smart container market size is expected to grow over 17% CAGR from 2015 to 2025. It is expected to reach over USD 7.1 billion by 2025, from USD 1.6 billion in 2015.

Smart containers will allow the computational representation of the supply chain to sync with the physical world, enabling faster and more accurate decision-making, automation in transportation and logistics execution, transparent collaboration between stakeholders and improved supply chain predictability. While every supply chain is unique, having reliable data and effective data sharing will reveal flaws in current transport/supply chain procedures. These devices are priced competitively and ultimately help the end user reduce application costs. It is expected to drive the smart container market in the coming years.

Based on technologies, the smart container market is segmented into GPS, Cellular, LRWAN and BLE. Smart containers are also sensitive to this because any technology presents challenges. While the whole world is connected and should connect more with each passing day. Concerns about information security and privacy are increasing across the world.

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RECENT DEVELOPMENTS:

  • ORBCOMM Inc. has partnered with Unseen Laboratories. The two companies have entered into a partnership to offer a maritime surveillance service to government and commercial AIS customers.

  • Traxens has partnered with the Port of Rotterdam. The two companies have partnered for the WeAre42 smart container project.

  • Nexxiot has released the iconic third generation gateway device i.e. Globehopper 3.0. In this device, the Bluetooth Low Energy protocol is used. It is useful to connect the sensors in a modular way.

IMPACT Covid-19

Covid-19 restrictions have had an impact on the transport of smart containers. Public access to the smart container market was nearly unused in many parts of the world at one time or another during the Covid-19 pandemic. This saw a slight marginal decline for a small period and should rebound with better growth numbers.

At the height of the crisis, when the reduction in cargo volume posed an additional challenge to the structural imbalance of the market, the container shipping industry adopted more discipline, reducing capacity, smart sealed containers, smart container tracking and lowering prices to retain profitability rather than market share, according to the research. As a result, despite weak demand, freight prices remained stable.

The The Orbcomm company leads the smart container market.

The biggest companies in the world [Updates] operating in the global smart container market profiled in the report are AT&T Inc, Berlinger & Co, Emerson, Identec Solutions AG, International Business Machines Corporation (IBM), Loginno, Monnit Corporation, Phillips Connect Technologies (division of Phillips Industries), Robert Bosch Manufacturing Solutions (Robert Bosch GmbH), Savvy Telematic Systems AG , Sealand (Maersk), Securesystem, Sensitech Inc, Sensortransport Inc, Shenzhen CIMC Technology Co, Ltd, Shenzhen Joint Technology Co, Ltd, Smartsense (Digi International Inc), Zillionsource Technologies Co, Ltd (CISCO), ZIM Integrated Shipping Services, and others.

Scope of Smart Container Market: Discount on report

smart container market

Smart Container Market Report Coverage

Details

Year of reference :

2021

Forecast period: 2015-2025

2022-2025

Historical data:

2025

Market size in 2015:

US$1.6 billion

Forecast Period 2022 to 2025 CAGR:

%

Market size in 2025:

US$7.1 billion

Key market segments:

By component

By technology

The largest regional market

Asia Pacific

40.7%

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Key segments

The global smart container market is segmented by components such as hardware, software, and services.

These three sub-segments are the key revenue drivers of the smart container market. Hardware is a physical device used in or with an electronic machine. Hardware is one of the main parts of the smart container. Software is a set of rules, data or programs. The software is used to perform the operations according to the instructions and execute the operations performed.

Based on technologies, the smart container market is segmented into GPS, Cellular, LRWAN and BLE.

A GPS tracking system is mounted in a vehicle, on a mobile phone or on special GPS devices. A cellular network is very useful because it offers services using various base stations with limited power and all of this is covered in a limited area.

Regional outlook

Asia-Pacific (APAC) shares 41% of the total smart container market. After that, North America contributes 22% of the global market.

Key Benefits for Participants and Industry Stakeholders:

– Market drivers, restraints and opportunities covered in the study

– Neutral outlook on market performance

– Recent industry trends and developments

– Competitive landscape and strategies of key players

– Potential and niche segments and regions with promising growth covered

– Historical, current and projected market size, in terms of value

– In-depth analysis of the Smart Container market

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