Luton, Bedfordshire, United Kingdom, Sept. 16, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Smart Containers market.
The Global Smart Containers Market size is expected to grow at more than 17% CAGR from 2015 to 2025. It is expected to reach above USD 7.1 billion by 2025 from USD 1.6 billion in 2015.
Smart Containers will allow the computer representation of the supply chain to become synchronized with the physical world, allowing for faster and more accurate decision-making, automation as part of transport and logistics execution, seamless collaboration between stakeholders, and improved supply chain predictability. Although every supply chain is unique, having reliable data and effective data sharing will reveal flaws in present transportation/supply chain procedures. These devices are getting competitively priced and ultimately helping the end-user with lower costs in application. It is expected to drive the smart containers market in coming years.
On the basis of technologies, Smart Container Market is segmented as GPS, Cellular, LRWAN and BLE. Smart containers are also susceptible to them for any technology comes with some challenges. While the entire world is connected and is expected to connect more with every passing day. Concerns related to security and privacy of information is growing across the world.
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Recent developments:
- ORBCOMM Inc. has partnered Unseen labs. Both companies have entered into partnership to offer Maritime Surveillance Service for Government and Commercial AIS Customers.
- Traxens has partnered with the Port of Rotterdam. Both companies have partnered for WeAre42 smart container project.
- Nexxiot has launched third generation Iconic Gateway Device namely Globehopper 3.0. In this device Bluetooth Low Energy Protocol is used. It is helpful to connect the sensors in modular way.
Covid-19 IMPACT
The Covid-19 related restrictions have left an impact on transportation of smart containers. The public access Smart Containers Market was almost unused in many parts of the world at some or the other point in the Covid-19 pandemic. This has seen a slight marginal decline for small period and is expected to rebound with better growth numbers.
At the height of the crisis, when cargo volume reduction posed an extra challenge to structural market imbalance, the container shipping sector adopted more discipline, cutting capacity, smart seal containers, smart container tracking and lowering prices to retain profitability rather than market share, according to the research. As a result, despite the low demand, freight prices remained steady.
The Orbcomm Company leads the Smart Containers market.
Top world’s Biggest companies [Updates] operating in the global Smart Containers Market profiled in the report are AT&T Inc, Berlinger & Co, Emerson, Identec Solutions AG, International Business Machines Corporation (IBM), Loginno, Monnit Corporation, Phillips Connect Technologies (Division of Phillips Industries), Robert Bosch Manufacturing Solutions (Robert Bosch GmbH), Savvy Telematic Systems AG, Sealand (Maersk), Securesystem, Sensitech Inc, Sensortransport Inc, Shenzhen CIMC Technology Co, Ltd, Shenzhen Joint Technology Co, Ltd, Smartsense (Digi International Inc), Zillionsource Technologies Co, Ltd (CISCO), ZIM Integrated Shipping Services, and others.
Smart Containers Market Scope: Discount on report
| Smart Containers Market | |||
| Report Coverage of Smart Containers Market | Details | ||
| Base Year: | 2021 | Forecast Period:2015-2025 | 2022-2025 |
| Historical Data: | 2025 | Market Size in 2015: | US$ 1.6 billion |
| Forecast Period 2022 to 2025 CAGR: | % | Market Size in 2025: | US$ 7.1 billion |
| Key Market Segments: | By Component |
| |
| By Technology |
| ||
| Largest Regional market | Asia Pacific | 40.7% | |
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Key Segments
The global market for smart containers is segmented by components as hardware, software and services.
These three sub segments are the key components of the revenue in the smart containers market. The hardware is physical device used in or with electronic machine. Hardware is one of the major parts of smart container. Software is a set of rules, data or programs. Software is utilized to perform the operations as per instructions and execute performed operations.
On the basis of technologies, Smart Container Market is segmented as GPS, Cellular, LRWAN and BLE.
A GPS tracking system is mounted in a vehicle, on a cell phone, or on special GPS devices. A cellular network is very helpful because they offer services with the help of various base stations along with limited power and all this is covered in a limited area.
Regional outlook
Asia-Pacific (APAC) shares 41% of total Smart Containers market. After that, North America contributes 22% to the global market.
Key Benefits for Industry Participants and Stakeholders:
– Market drivers, restraints, and opportunities covered in the study
– Neutral perspective on the market performance
– Recent industry trends and developments
– Competitive landscape & strategies of key players
– Potential & niche segments and regions exhibiting promising growth covered
– Historical, current, and projected market size, in terms of value
– In-depth analysis of the Smart Container Market
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