Report : Smart Container Market to 2027 - Global Analysis and Forecasts by Components (Hardware, Software, Services); Technology (GPS, Cellular, Long Range Wide Area Network, Bluetooth Low Energy (BLE), Others); Industry Vertical (Food and Beverages, Pharmaceutical, Oil and Gas, Chemicals, Others)
According to the new research report published by The Insight Partners, titled "Smart Container Market - Global Analysis and Forecast to 2027", the global smart container market is expected to reach US$ 11.29 Bn in 2027, registering a CAGR of 20.8% during the forecast period 2019-2027.
Automotive, agriculture, food & beverage, consumer electronics, oil & gas, healthcare, and chemicals, among others, are some of the major users of smart containers globally. Domestic and overseas trade of goods such as consumer goods, oil, food items, drugs & medicines, and many more owing to rising customers demand from diversified industries. In the food industry, demand for processed, semi-processed, frozen, and organic food products is high globally. In pharmaceutical, the transportation of drugs is increasing owing to initiatives regarding drug discovery. Similarly, in the oil & gas industry, the trade business of oil is on an increase across the world.
With rising global trade and complexities in the supply ecosystem, the need for the advanced smart container is rising. Demand for connected, modular, and flexible would assist in enhancing the process efficiency and will facilitate shipment visibility and monitoring. With escalating city delivery volumes, the smaller containers and innovative packaging have the potential to standardize urban logistics. Improved materials, advancement in automation aid the development and commercialization of efficient & sustainable supply chains. The application of next-generation IoT solutions in packaging will transform visibility, traceability, and security.
North America is the prominent region in the location intelligence market. On the other hand, Asia Pacific is anticipated to be the fastest-growing region in terms of CAGR during the forecast period from 2019 - 2027. Based on industry vertical, food & beverage holds a highest market share in 2018, whereas, pharmaceutical is anticipated to be the fastest growing industry vertical in the smart container market.
The smart container market operates in a fragmented ecosystem. The market players from location intelligence are anticipated to lucrative growth opportunities in the future with the rising demand for location intelligence in the global market. Some of the key players operating in the smart container market include Ambrosus, Zillionsource Technologies, Smart Containers Group AG, Globe Tracker, APS, Nexxoit AG, Orbcomm, Hapag-Lloyd, Philips Connect Technologies, Traxens, and A.P. Møller - Mærsk A/S among others.
Smart Container Market - Geographic Breakdown, 2018
The report segments the global smart container market as follows:
Global Smart Container Market - By Component
Global Smart Container Market - By Technology
Global Smart Container Market - By Industry Vertical
Global Smart Container Market - By Geography
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