Dublin, March 03, 2023 (GLOBE NEWSWIRE) -- The "Global Smart Container Market Size, Share & Industry Trends Analysis Report By Vertical, By Offering, By Technology (Global Positioning System (GPS), Cellular, Long Range Wide Area Network (LoRa Wan) and Others), By Regional Outlook and Forecast, 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.
The Global Smart Container Market size is expected to reach $10.8 billion by 2028, rising at a market growth of 18.2% CAGR during the forecast period.
Key Market Players
- A.P. Moller - Maersk A/S
- Orbcomm, Inc. (GI Partners L.P.)
- SkyCell AG
- TRAXENS
- AirDAO
- ZillionSource Technologies
- Berlinger & Co. AG
- Globe Tracker, ApS.
- Nexxiot AG
- Phillips Connect (Phillips Industries, Inc.)
Smart containers refer to shipping containers equipped with IoT (Internet of Things), GPS tracking, and sensors that are used for logistics & freight. These containers are developed to regulate internal temperature, enhance the security of goods stored in containers, and keep a track of real-time location via GPS. The main aim of smart containers is to alter the risk of potential issues with cargo.
Smart containers are considered crucial in making the supply chain more efficient, sustainable, and safer. These are similar to regular containers with additional sensors connected to them for keeping regular track of real time information. The data collected through these sensors may result in optimizing the supply chain.
Sensor data help in getting hyper-accurate information regarding the inside temperature, container's location, and other conditions, which helps businesses in the efficient management of goods within spending fewer resources. Furthermore, data provided by these sensors help in avoiding possible hazards that may occur due to the climatic and changes in conditions. Another benefit of these sensors is that the stakeholder would be able know the progress of containers with shipping.
This further enables customers as well as operators to predict the estimated time at which goods may reach the destination, thereby preventing disruptions in the supply chain. Smart containers serve certain benefits to logistic companies. In the past, the required data to ensure the safety of goods was collected manually. Still, smart technologies used in these containers could efficiently substitute this, which would result in reducing the expenditure along with saving time.
COVID-19 Impact Analysis
The widespread of novel coronavirus has severely affected the world's economy and almost all industries. The pandemic resulted in the implementation of lockdown and travel restrictions by governments of various affected nations, leading to disruption in the working of multiple sectors.
The supply chains were severely disrupted due to the trade restrictions imposed with the aim of curbing the spread of the virus. Furthermore, the production of smart containers also decreased, which resulted in raising the overall prices of containers. These increased prices further resulted in lowering the adoption of smart containers, thereby declining sales.
Market Growth Factors
Rising acceptance of IoT devices by companies in shipping industry
Maritime transportation is the most used mode of shipping. With the rising adoption of technologies in the logistics industry due to the arrival of smart logistics facilities, most logistics shipping businesses are implementing IoT devices. The trucking & logistics businesses are integrating data analytics, self-driving technologies, and robotics with the aim of increasing the effectiveness of operations and addressing other issues in the industry.
Rising demand for logistics 4.0
The emergence of logistics 4.0 in the shipping and freight sector brings an essential upgrade to the supply chain, which has been operated conventionally since the past. Furthermore, growing penetration of the internet, increasing demand for automation, rising integration of smart technologies, and adoption of advanced logistic solutions across the globe with the aim to enhance efficiency are resulting in the growing adoption of logistic 4.0 trends.
Marketing Restraining Factor
Shipping industry is not capable enough to deal with cyber threats
One of the major risks for the shipping industry in the integration of smart technologies is cyberattacks. This is mainly because of the less awareness and inefficient tools implemented within the industry. The shipping industry is a major target for cyber attackers, as the industry is flourishing continuously. Furthermore, it is observed by a number of researchers that the industry is not capable enough to efficiently work with the technologies by dealing with these cyber threats.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Strategies Deployed in Smart Container Market
Chapter 4. Global Smart Container Market by Vertical
4.1 Global Food & Beverages Market by Region
4.2 Global Pharmaceuticals Market by Region
4.3 Global Oil & Gas Market by Region
4.4 Global Chemicals Market by Region
4.5 Global Others Market by Region
Chapter 5. Global Smart Container Market by Offering
5.1 Global Hardware Market by Region
5.2 Global Software Market by Region
5.3 Global Services Market by Region
Chapter 6. Global Smart Container Market by Technology
6.1 Global Positioning System (GPS)MARKET by Region
6.2 Global Cellular Market by Region
6.3 Global Long Range Wide Area Network (LoRa Wan) Market by Region
6.4 Global Others Market by Region
Chapter 7. Global Smart Container Market by Region
Chapter 8. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/b03cqm
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