What is the present valuation and projected CAGR of the container tracking market?
The container tracking market size has grown strongly in recent years. It will grow from $10.11 billion in 2024 to $10.94 billion in 2025 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to increasing consumer demand for transparency, increasing demand for efficient and reliable logistics solutions, increasing the number of goods, increasing seaborne trade, and increasing safety standards at sea.
The container tracking market size is expected to see strong growth in the next few years. It will grow to $14.86 billion in 2029 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to the growing emphasis on sustainability, growth of international trade and globalization, focus on improving fleet optimization and efficiency, rising trade volumes, and infrastructure development. Major trends in the forecast period include enhanced blockchain applications, advanced data analytics and visualization, autonomous vehicles and drones, integration with supply chain platforms, and environmental and sustainability focus.
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Which industry factors have accelerated the container tracking market’s expansion?
The rising cargo theft is expected to propel the growth of the container tracking market going forward. Cargo theft is growing due to increased economic pressures leading to higher criminal activity and the sophistication of theft methods outpacing current security measures. Additionally, the rise in e-commerce has expanded the volume and value of goods being transported, making cargo an attractive target for thieves. Container tracking helps mitigate cargo theft by providing real-time location and status updates, allowing for immediate action if unauthorized movement is detected. It also enhances overall security through detailed monitoring and historical data analysis. For instance, in May 2024, according to TAPA EMEA, the Netherlands-based not-for-profit industry association, transport theft cases in the European Union rose by 35.46% in 2023 compared to 2022, with reported incidents increasing from 6,113 to 8,281. The total financial loss from these crimes, when the value of stolen goods was reported, amounted to $594.16 million (EUR 549 million). This represents a 438% increase from 2022 and a staggering 1,076% rise from 2021. Therefore, rising cargo theft is driving the growth of the container tracking market.
What are the primary segments of the container tracking market?
The container tracking market covered in this report is segmented –
1) By Offering: Hardware, Software, Service
2) By Technology Type: Radio Frequency Identification (RFID), Global Positioning System (GPS), Cellular, Satellite
3) By Mode of Transportation: Maritime, Land, Air
4) By End-User: Food And Beverage, Consumer Goods, Vehicle Transport, Healthcare, Industrial Products, Other End-User
Subsegments:
1) By Hardware: Gps Trackers, Rfid Tags, Sensors (Temperature, Humidity, Motion), Satellite Communication Devices
2) By Software: Real-Time Tracking Platforms, Data Analytics And Reporting Software, Container Management Systems, Fleet And Logistics Management Software
3) By Service: Installation And Maintenance Services, Data Processing And Analysis Services, Cloud-Based Tracking Services, Consulting And Integration Services
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Which firms are leading the container tracking market?
Major companies operating in the container tracking market are A.P. Moller – Maersk A/S, CMA CGM Group, Cosco Shipping Lines Co Ltd., NetSuite Inc., Hapag-Lloyd AG, Mediterranean Shipping Company S.A., Orient Overseas Container Line Limited, DP World Logistics FZE, Yang Ming Marine Transport Corporation, Zim Integrated Shipping Services Ltd., Evergreen Marine Corporation, Wan Hai Lines Ltd., Kawasaki Kisen Kaisha Ltd, Hyundai Merchant Marine Co., Ltd., Zebra Technologies Corporation, Ocean Network Express Pte. Ltd., Project44 Inc., CargoWise, E2open Parent Holdings Inc., ORBCOMM Inc., Hanjin Logistics Corporation, Pacific International Lines (Pte) Ltd., GoComet, CargoSmart Ltd.
Which market trends are set to define the future of the container tracking market?
Major companies operating in the container tracking market are focusing on developing advanced solutions, such as dry container tracking, to enhance security, improve logistics efficiency, and provide real-time visibility. Dry container tracking refers to the monitoring and management of standard shipping containers used for transporting cargo that do not require special conditions, such as refrigeration or a controlled atmosphere. For instance, in April 2024, Hapag-Lloyd., a Germany-based maritime transport company, launched a new live position product that delivers comprehensive, on-demand door-to-door visibility through extensive use of Internet of Things (IoT) technology. It offers unique features such as real-time visibility of shipments, a user-friendly interface for easy tracking by container or booking number, on-demand information updates, and plans for future enhancements such as application programming interface integration and estimated time of arrival (ETA) predictions.
Which geographic trends are shaping the container tracking market, and which region has the highest market share?
Asia-Pacific was the largest region in the container tracking market in 2024. The regions covered in the container tracking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Container Tracking Market Report 2025 Offer?
The container tracking market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Container tracking refers to the use of technology to monitor and manage the location, condition, and status of shipping containers throughout their journey from origin to destination. It utilizes a real-time global positioning system, radio frequency identification, and Internet of Things (IoT) technologies to monitor and manage the location, condition, and status of shipping containers throughout their journey, enhancing visibility and efficiency in the supply chain.
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