The Smart Container Global Market Report 2023 by The Business Research Company, provides smart container market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-yearforecast period – 2023-2032.
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According to The Business Research Company’s Smart Container Global Market Report 2023, the market size is expected to grow from$2.83 billion in 2022 to $3.37 billion in 2023, at a compound annual growth rate (CAGR) of 19.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of smart container is expected to grow to $6.64 billion in 2027 at a CAGR of 18.4%.
The rise in the adoption of IoT devices is expected to propel the growth of the smart container market going forward. The Internet of Things, or IoT, refers to the network of connected devices and the technology that allows them to communicate with each other in the cloud. Smart containers involve an IoT ecosystem consisting of web-enabled smart devices that use embedded systems to collect, send, and receive data. This combination provides real-time GPS tracking, enhances security, and provides condition information that can alert operators to potential problems. By adopting the Internet of Things (IoT) to support enhanced decision-making, smart containers bring the digital age of shipping one step further than paperless processes. As a result, the rising adoption of IoT devices increases the demand for the smart container market.
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The smart container market is segmented:
1) By Offering: Hardware, Software, and Services
2) By Technology: GPS (Global Positioning System), Cellular, LoRa WAN (Long Range Wide Area Network), Bluetooth Low Energy (BLE), Other Technologies
3) By Size: Small Enterprises, Medium Enterprises, and Large Enterprises
4) By Vertical: Food and Beverages, Pharmaceuticals, Oil and Gas, Chemicals, Other Verticals
Top Major Players:
Ambrosus
Globe Tracker
Orbcomm
Phillips Connect
Smart Containers Group
Asia-Pacific was the largest region in the smart container market in 2022.
Technological advancements are a key trend gaining popularity in the smart container market. Major companies operating in the market are advancing toward the use of cooling technology to gain a competitive edge in the market. For instance, in December 2020, SkyCell, a Switzerland-based company that provides pharmaceutical supply chains with temperature-controlled hybrid containers, launched the Ultra-Cold smart container, developed with patented cooling technology and used for transportation of COVID-19 vaccines regardless of the outside temperature. In order to maintain a steady temperature between -60 °C and -80 °C for more than 120 hours without recharging, this solution was developed for the highly temperature-sensitive COVID-19 vaccine. A single aircraft can transport up to 1.75 million doses, sufficient to vaccinate 875,000 to 8.75 million people, or ten times as many people as existing solutions. It uses a combination of its existing precision-engineered containers, cooling technology, and proprietary software.
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The smart container market report table of contents includes:
1. Executive Summary
2. Smart Container Market Characteristics
3. Smart Container Market Trends And Strategies
4. Smart Container Market – Macro Economic Scenario
5. Smart Container Market Size And Growth
……………………………………………………………………..
26. Africa Smart Container Market
27. Smart Container Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Smart Container Market
29. Smart Container Market Future Outlook and Potential Analysis
30. Appendix
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