Major players in the smart container market are Ambrosus, Globe Tracker, Orbcomm, Phillips Connect, Smart Containers Group, Traxens, Zillionsource Technologies Company Limited, Sealand - A Maersk Company, Hapag-Lloyd AG, Loginno, SecureSystem GmbH, Monnit Corporation, Identec Solutions AG, AT&T Inc., and Smartsense.
The global smart container market 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 smart container market is expected to grow to $6.64 billion in 2027 at a CAGR of 18.4%.
The smart container market consists of revenues earned by entities by providing smart container services such as managed and professional services.The market value includes the value of related goods sold by the service provider or included within the service offering.
The smart container market also includes sales of hardware including sensors and antennas, IoT devices, modems, routers, and remote container management software which are used in providing services.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
A smart container is a shipping container with the internet of things (IoT) technology, sensors, GPS tracking, and a solar panel.They are designed to regulate internal conditions (such as temperature), provide real-time GPS tracking, enhance security, and provide information about cargo conditions that will alert operators to potential problems.
Using the information collected, digital shipment records are generated, which can be shared with customers for up-to-date tracking and can be utilized to predict arrival times at ports in order to optimize container unloading and distribution to the next phase.
Asia-Pacific was the largest region in the smart container market in 2022. The regions covered in the smart container market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main offerings of a smart container are hardware, software, and services.A smart container monitoring solution is a combination of various hardware such as a GPRS modem, an array of sensors that can collect real-time data, and a router among others.
The various technology includes GPS (Global Positioning System), cellular, LoRa WAN (Long Range Wide Area Network), Bluetooth Low Energy (BLE), and other technology. These are used by small enterprises, medium enterprises, large enterprises, and various verticals such as food and beverages, pharmaceuticals, oil and gas, chemicals, and other verticals.
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 devices to communicate with each other in the cloud.
Smart containers involve an IoT ecosystem consisting 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 containers market. For instance, in 2021, according to Dataprot, a US-based independent review site for cybersecurity, there were more than 10 billion active IoT devices and it is estimated that the number of active IoT devices will surpass 25.4 billion in the year 2030. Therefore, the rise in the adoption of IoT devices drives the smart container market.
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 providing pharmaceutical supply chains with temperature-controlled hybrid containers launched the Ultra-cold smart container developed with patented cooling technology, 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, ten times as many people as existing solutions. It uses a combination of its existing precision-engineered containers, cooling technology, and proprietary software.
In December 2022, Traxens, a France-based service company providing smart-container services for the supply-chain industry, acquired NEXT4 for an undisclosed amount.Through this acquisition, Traxens gained a NEXT4 technology portfolio which will help the company offer the best of its services to its customers.
NEXT4 is a France-based company operating in smart containers.
The countries covered in the smart container market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The smart containers market research report is one of a series of new reports that provides smart containers market statistics, including smart containers industry global market size, regional shares, competitors with a smart containers market share, detailed smart containers market segments, market trends and opportunities, and any further data you may need to thrive in the smart containers industry. This smart container market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.