Publication Month: Feb 2020 | Report Code: TIPRE00007637 | No. of Pages: 170 | Category: Electronics and Semiconductor | Status: Published
The box industry is witnessing huge growth over the last few years. The technological companies and smart containers manufacturers integrate cutting-edge technology and IoT sensors into a logistics supply chain on the blockchain. Automotive, agriculture, food & beverage, consumer electronics, oil & gas, healthcare, and chemicals, among others, are some of the major users of smart containers globally. Domestics 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 an increase across the world. The e-commerce industry is growing in popularity. With such high internet penetration and growing demand for convenience, consumers are increasingly ordering groceries and other food products online. Services such as Amazon Fresh are growing in number, allowing consumers to shop for fresh produce without leaving the house. Subscription services are another popular fad, with everything from snacks to specialty products to meal kits that come with everything needed to cook a meal from scratch. Need to have smart containers in business trade is more to ensure the proper delivery of goods at the customer’s location. The smart containers exhibit features of humidity variations, movement & status, shock detection, door opening, and geo-fencing capabilities.
Rising globalization, increasing trade volumes, and positive economic outlook are some of the major macroeconomic factors driving the growth of the smart container market. The food & beverage industry is a major user of smart containers followed by pharmaceuticals and chemicals. As smart containers maintain food safety, nutritional, and organoleptic qualities, it has become fundamental for the food processing industry. Factors such as rising demand for packaged food and perishable foods, growth of international trade due to trade liberalization, and development of retail food chains have resulted in an upward trend in the food & beverage industry. The US, China, India, and Brazil are the major countries responsible for food-producing.
The consciousness of the consumer in the mentioned regions has surged the market with different packed foods right from fruits, confectioneries, juices, meat, poultry, seafood, etc. The availability of a broad range of perishable food items needs to be stored and maintained under an efficient system to protect food quality. Therefore, the use of smart containers would play an important role in achieving quality goals. The rise in the food processing industry across the entire North American region demands for installations of large smart containers at the manufacturing as well as distribution plants. Whereas, in the European and Asian market, the strong buying power and the cosmopolitan nature has made the market growth in terms of food services that have resulted in more eatery options.
The end-user industry of smart containers is highly diverse, ranging from pharmaceuticals, food & beverage, agricultural goods, chemicals, and even fresh flowers, among others. The smart container helps in managing the entire shipment and delivery process of goods through connectivity, cloud computing traceability, monitoring, and smart sensors. The food & beverage and consumer products manufacturers are seeking forward to leverage innovation to boost the service level to trading partners and consumers. With a unique combination of IoT with regular transportations services, the entire food & beverage industry is gaining tremendous momentum.
A smart container is a container which is automated with the help of various technologies. The market by component is segmented by hardware, software, and services. The hardware segment includes various sensors and antennas, IoT devices, modems, and routers deployed in smart containers. Software covers various smart container software solutions including remote container management. Further, services cover managed and professional services.
The various technologies used are GPS, cellular, long range wide area network, Bluetooth low energy (BLE), among others. The factors including the need for end-to-end visibility, cargo care, pre-trip inspections, and crew safety have heightened the demand for various technologies in the smart container systems.
The smart container market is categorized on basis of industry vertical into food & beverages industry, chemical industry, pharmaceutical industry, oil & gas industry, and others. The food processing industries contributed the maximum revenue shares in 2017, pertaining to the rapid surging demand for frozen foods, chilled ready meats, confectioneries, breweries, and liquid milk processing. The US is one of the largest consumers of packaged foods and frozen food followed by developed countries in the Europe. Also, other regions of the world such as Middle East, and the developing economies of APAC exhibit changing patterns in the demand of packaged food and food products.
|Market Size Value in||US$ 22,146.0 Million in 2018|
|Market Size Value by||US$ 11,290.7 Million by 2027|
|Growth rate||CAGR of 20.8% from 2019-2027|
|No. of Pages||170|
|No. of Tables||83|
|No. of Charts & Figures||71|
|Historical data available||Yes|
|Segments covered||Components ; Technology ; Industry Vertical|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
Product development is the commonly adopted strategy by companies to expand their product portfolio. Ambrosus, Zillionsource Technologies, Smart Containers Group AG, Globe Tracker, among others are the key players implementing strategies to enlarge the customer base and gain significant share in the global Smart Container Market, which in turn permits them to maintain their brand name. A few of the recent key developments are:
The List of Companies - Smart Container Market