Smart Container Market Dynamics and Trends by 2031

The smart container market size is projected to reach US$ 218.4 billion by 2031 from US$ 46.05 billion in 2023. The market is expected to register a CAGR of 21.5% in 2023–2031. The market is growing due to the increasing demand for shipping and real time tracking of the goods.

Smart Container Market Analysis 

Smart container technology can be linked to other innovations, such as big data, blockchain, or data pipelines, to provide even more support to the trading community. In all of these cases, though, we see that creating clear, explicit message exchange standards will allow us to capitalize on the full potential of the enhanced data.

Smart Container Market Overview

Smart containers mean shipping lines and cargo-related stakeholders can have access to container data coming from the source regardless of whether the container is on a ship, in a yard, or at any other point during its pre-haul and post-haul journey.  Smart Containers are embracing the Internet of Things (IoT) to enhance decision-making by the various sectoral stakeholders.This provides superior visibility to the investors within the transaction as well as to regulatory agencies who need comprehensive information on the consignments before they arrive at the border.

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Smart Container Market: Strategic Insights

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Smart Container Market Drivers and Opportunities

Growing Adoption of Advanced Technologies at the Service of Trade Facilitation to Favor Market

Different technologies enable Smart containers to communicate information captured through a wide range of sensors about their current status (e.g., GPS position, door opening detection, movements vibrations and shocks, atmospheric conditions, etc.) and to remotely change their parameter settings (e.g., temperature setups, remote defrost, etc.) anywhere, anytime. IoT technologies have proven there is huge potential for businesses to leverage their efficiency and mitigate their risks. Smart assets will become a common feature in the shipping industry.Smart containers transmit a large amount of data, which, combined with other data in the primary host system, can be analyzed and interpreted to provide even more relevant evaluations. This data is not only useful during the journey of a single container. In the context of multiple trips over an extended time, it can provide global visibility of operations. When comparing average turnaround times or damage rates between different ports and yards, one can build and evaluate programs to bring all stakeholders up to the same level of supply chain excellence. Thus, the growing adoption of advanced technologies at the service of trade facilitation is driving the growth of the smart containers market.

Increasing Need for Real-time Tracking, Security, and Enhanced Visibility.

One of the most valuable advantages of smart containers is the ability to record shipments in real-time. The persistent flow of data from these containers allows logistics providers and customers to know the accurate status and location of their shipments at any given moment. This feature not only improves delivery accuracy and reduces the chances of lost shipments but also allows for proactive issue resolution, thus significantly enhancing customer service. Smart containers are also revolutionizing logistics security through technologies such as geofencing, which can generate alerts if containers stray from their predefined path or if unauthorized access is detected. This level of security is remarkably important in the transportation of high-value or sensitive goods and plays a critical role in deterring theft and improving overall supply chain security.‍

Smart Container Market Report Segmentation Analysis

Key segments that contributed to the derivation of the smart container market analysis are component, technology, and industry vertical.

• Based on components, the smart container market is segmented into hardware, software, and services.
• Based on technology, the smart container market is segmented into GPS, cellular, long range wide area network, Bluetooth low energy (BLE), and others.
• Based on the industry vertical, the smart container market is segmented into food & beverages, pharmaceuticals, oil & gas, chemicals, and others.

Smart Container Market Share Analysis by Geography

The geographic scope of the smart container market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.  Smart containers are changing the customer experience in logistics. Real-time tracing and enhanced visibility mean customers are always notified about the status of their shipments, reducing uncertainty and improving trust, which is propelling the growth of the smart containers market.

Smart Container Market Regional Insights

The regional trends and factors influencing the Smart Container Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Smart Container Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Smart Container Market Report Scope

Smart Container Market Players Density: Understanding Its Impact on Business Dynamics

The Smart Container Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Smart Container Market are:

1. Ambrosus
2. A.P. Møller - A/S
3. Globe Tracker, ApS
4. Hapag-Lloyd AG
5. Nexxoit AG
6. Orbcomm Inc.

Disclaimer: The companies listed above are not ranked in any particular order.

Smart Container Market News and Recent Developments

The smart container market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:

• In February 2022, French carrier CMA CGM launched SMART containers equipped with state-of-the-art Emerson technology, which allows users to monitor the status and conditions of the container in real time. Receive key data such as location, temperature, and gas variations.

(Source: CMA CGM, Company Website, 2022)

• In October 2023, Tower Cold Chain announced a series of new initiatives for KTEvolution, its ‘small box’ solution for direct-to-patient, sample shipment, and last-mile deliveries. Amongst the new offering is a ‘click & collect’ service for airlines, pharmaceutical companies, and 3PLs who rent the containers as well as the option to purchase – and customize.

  (Source: Tower Cold Chain, Company Website, 2022)

Smart Container Market Report Coverage and Deliverables

The "Smart Container Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST/Porter's Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles