Smart Container Market 2027 By Components, Technology, and Industry Vertical

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)

  • Report Code : TIPRE00007637
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 170
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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
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

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.

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Smart Container Market: Strategic Insights

Smart Container Market

  • CAGR (2018 - 2027)
    20.8%
  • Market Size 2018
    US$ 22.15 Billion
  • Market Size 2027
    US$ 11.29 Billion

Market Dynamics

GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players

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

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Components
  • Hardware
  • Software
  • Services
Technology
  • GPS
  • Cellular
  • Long Range Wide Area Network
  • Bluetooth Low Energy
Industry Vertical
  • Food and Beverages
  • Pharmaceutical
  • Oil and Gas
  • Chemicals
  • Others
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

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

Smart Container Market Report Scope

Report Attribute Details
Market size in 2018 US$ 22.15 Billion
Market Size by 2027 US$ 11.29 Billion
Global CAGR (2018 - 2027) 20.8%
Historical Data 2016-2017
Forecast period 2019-2027
Segments Covered By Components
  • Hardware
  • Software
  • Services
By Technology
  • GPS
  • Cellular
  • Long Range Wide Area Network
  • Bluetooth Low Energy
By Industry Vertical
  • Food and Beverages
  • Pharmaceutical
  • Oil and Gas
  • Chemicals
  • Others
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Ambrosus
  • A.P. Møller - Mærsk A/S
  • Globe Tracker, ApS
  • Hapag-Lloyd AG
  • Nexxoit AG
  • Orbcomm Inc.
  • Philips Connect Technologies
  • Smart Containers Group AG
  • Traxens
  • Zillionsource Technologies
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Components ; Technology ; Industry Vertical

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

    Frequently Asked Questions


    What are reasons behind the growth of food & beverage industry in Asia Pacific?

    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.

    What are market opportunities for smart container globally?

    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.

    Which technology hold the major share in automotive lighting market?

    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

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. Data Collection and Secondary Research:

    As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

    Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

    1. Primary Research:

    The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

    For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

    A typical research interview fulfils the following functions:

    • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
    • Validates and strengthens in-house secondary research findings
    • Develops the analysis team’s expertise and market understanding

    Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

    • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
    • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

    Below is the breakup of our primary respondents by company, designation, and region:

    Research Methodology

    Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

    1. Data Analysis:

    Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

    • 3.1 Macro-Economic Factor Analysis:

    We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

    • 3.2 Country Level Data:

    Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

    • 3.3 Company Profile:

    The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

    • 3.4 Developing Base Number:

    Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

    1. Data Triangulation and Final Review:

    The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

    We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

    We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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