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 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).
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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 is anticipated to witness strong growth during 2021-2026.
- On the basis of the offering, the market has been divided into hardware, software and services.
- Based on the technology, the market has been classified into GPS (Global Positioning System), cellular, LoRa WAN (Long Range Wide Area Network), Bluetooth Low Energy (BLE), and others.
- On the basis of the vertical, the market has been segmented into food and beverages, pharmaceuticals, oil and gas, chemicals, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Ambrosus, Globe Tracker, ApS., Nexiot AG, Orbcomm Inc., Phillips Connect Technologies LLC (R. A. Phillips Industries Inc.), Robert Bosch Manufacturing Solutions GmbH, Smart Containers Group AG, SeaLand (Maersk Group), Traxens and Zillionsource Technologies Co. Ltd.
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