Smart Container Market 2027 By Components, Technology, and Industry Vertical | The Insight Partners

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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)

Publication Month: Feb 2020 | Report Code: TIPRE00007637 | No. of Pages: 170 | Category: Electronics and Semiconductor | Status: Published

The Smart Container Market was valued at US$ 22,146.0 Mn in 2018 and is projected to reach US$ 11,290.7 Mn by 2027; it is expected to grow at a CAGR of 20.8% from 2019 to 2027.

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.

Lucrative Regions for Smart Container Market

Lucrative Regions for Smart Container Market

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Market Insights

Increasing Demand for Perishable Food Bolstering the Smart Container Market Growth

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.

Component-Based Market Insights

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.

Technology Based- Market Insights

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.

Industrial Vertical Based- Market Insights

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.

Strategic Insights

Report Coverage - Smart Container Market
Report CoverageDetails
Market Size Value inUS$ 22,146.0 Million in 2018
Market Size Value byUS$ 11,290.7 Million by 2027
Growth rateCAGR of 20.8% from 2019-2027
Forecast Period2019-2027
Base Year2019
No. of Pages170
No. of Tables83
No. of Charts & Figures71
Historical data availableYes
Segments coveredComponents ; Technology ; Industry Vertical
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
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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:

  • In 2020, Traxens announced that it would open a representative office in Shenzhen, China – its first office outside of France – to respond to the increasing need for more Asian exposure and local support for its global customers, In line with its international expansion strategy.
  • In 2019, Phillips Connect Technologies acquired Connected Holdings, LLC which is an industry-leading IoT intelligent services provider located in North America. This acquisition supported the company to introduce transformational advancements to transportation.

Smart Container Market Segmentation:

By Components

  • Hardware
  • Software
  • Services

By Technology

  • GPS
  • Cellular
  • Long Range Wide Area Network
  • Bluetooth Low Energy (BLE)
  • Others

By Industry Vertical

  • Food and Beverages
  • Pharmaceutical
  • Oil and Gas
  • Chemicals
  • Others

Company Profiles

  • Ambrosus
  • Zillionsource Technologies
  • Smart Containers Group AG
  • Globe Tracker
  • APS
  • Nexxoit AG
  • Orbcomm
  • Hapag-Lloyd
  • Philips Connect Technologies
  • Traxens
  • A.P. Møller – Mærsk A/S

Frequently Asked Questions

Transformation in the food and beverage habits, modern food needs, and the fast and healthy lifestyle of the inhabitants has a noteworthy influence on the food & beverage market in the APAC region. China and India are the major countries in the Asian market for producing a high quantity of foods.
The rising population in regions such as Africa, Eastern Europe, and Latin America; the demand for fresh vegetables, fruits, and other perishable commodities has also increased. These regions offer a potential opportunity for smart reefer container businesses. With the growing spending capacity of the people in these regions, the demand for better quality food has also increased in food & beverage industries.
GPS dominated the automotive lighting market in 2018. GPS temperature monitoring provides you with instant information about temperature and asset location of the containers, trucks, trailers worldwide.

The List of Companies - Smart Container Market

  1. Ambrosus
  2. A.P. Møller - Mærsk A/S
  3. Globe Tracker, ApS
  4. Hapag-Lloyd AG
  5. Nexxoit AG
  6. Orbcomm Inc.
  7. Philips Connect Technologies
  8. Smart Containers Group AG
  9. Traxens
  10. Zillionsource Technologies
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global smart container market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the global smart container market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
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