According to the latest report by IMARC Group, titled “Smart Container Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global smart container market grew at a CAGR of around 18% during 2015-2020. Smart container is a shipping container that offers real-time tracking and monitoring of the cargo. It primarily uses Long-range Wide Area Network (LoRa WAN), a global positioning system (GPS), cellular technologies, etc., to track the consignment throughout the journey and find misrouted or lost containers. Smart container is equipped with a unique identification code that is scanned at every entry and exit point of the depot by the transportation management system (TMS).
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Smart Container Market Trends:
The inflating need for secured transportation of goods from several industries, such as pharmaceutical, chemical, oil and gas, petrochemical, etc., is primarily driving the smart container market. Additionally, the widespread adoption of LoRa WAN technology for efficient management of shipments, owing to its bandwidth capabilities that assist in-depth indoor penetration and reduce the chances of signal reflection from the container surface, is further catalyzing the market growth. Besides this, the rising R&D activities aimed at improving container management technologies are acting as another significant growth-inducing factor. Furthermore, the increasing integration of several advanced technologies, such as the Internet of Things (IoT), blockchain, and big data solutions, that enable constant monitoring of the container internal environment and minimize the risk of spoilage of perishable goods, are anticipated to fuel the smart container market over the forecasted period. On account of the aforementioned factors, the market to grow at a CAGR of around 12% during 2021-2026.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Globe Tracker
- Nexiot AG
- Orbcomm Inc.
- Phillips Connect Technologies LLC
- Robert Bosch Manufacturing Solutions GmbH
- Smart Containers Group AG
- Zillionsource Technologies Co. Ltd
Smart Container Market Segmentation:
Our report has categorized the market based on region, offering, technology and vertical.
Market Breakup by Offering:
Market Breakup by Technology:
- GPS (Global Positioning System)
- LoRa WAN (Long Range Wide Area Network)
- Bluetooth Low Energy (BLE)
Market Breakup by Vertical:
- Food and Beverages
- Oil and Gas
Market Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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