Smart Reefer Container Market is expected to reach US$ 1,665.35 Mn in 2027

Latest market study on "Smart Reefer Container by Offering (Hardware, Software, Services); Technology (GPS, Cellular, Long Range Wide Area Network, Bluetooth Low Energy (BLE), Others); Reefer (10GP, 20GP, 40GP, 40HQ, 45HQ); Industry Vertical (Food and Beverages, Pharmaceutical, Oil and Gas, Chemicals, Military and Defense, Others);- Global Analysis and Forecast", the smart reefer conatiner market is estimated to reach US$ 1,665.35 Mn by 2027 from US$ 823.81 Mn in 2018. The report includes a key understanding of the driving factors of this growth and also highlights the prominent players in the market and their developments.

The US Food and Agriculture Organization (FAO) has anticipated the requirement of food production to grow by ~70 % by 2050, owing to the continuous increase in the global population. With the projected global population of 9.2 Bn by 2050, the need for essential food transport facilities will also increase. For instance, the rising population in regions such as Africa, Eastern Europe, and Latin America; the demand for fresh vegetables, fruits, and other perishable commodities has also increased. These regions offer a potential opportunity to the market for smart reefer container businesses. With the growing spending capacity of the people in these regions, the demand for better quality food has also increased.

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The Smart Reefer Container Market is anticipated to grow in the forecast period owing to the driving factors including increasing developments in the manufacturing industry. Further, increasing deployments in the automotive industry is supplementing the market growth. However, availability of substitutes is impeding the growth of the Smart Reefer Container market.

Leading Key Market Players Mentioned in the Report:- ORBCOMM Inc., Wireless Links Inc., Traxens, Globe Tracker, ApS, Hapag-Lloyd AG, Nexxiot AG, Maven Systems Pvt. Ltd., AikSphere Technologies Inc., Tracker Systems, Inc., Thermo King Corporation, Arviem AG

The report on the area of Smart Reefer Container by Insight Partners includes extensive primary research and detailed analysis of the qualitative and quantitative aspects of various industry experts, key opinion leaders, to better understand the performance of the Smart Reefer Container Market.

Moreover, in the US and Europe, consumer demand for healthy food products is increasing. Additionally, the shipping companies are witnessing a trend of movement towards containerized shipments of food than conventional break-bulk. For instance, it is noticed that the trade for bananas has now shifted towards containers, which was previously preferred in break-bulk. Thus, the growth in demand for better quality food products is expected to influence the smart reefer deployment.

The report presents the current market analysis scenario, future and future opportunities, revenue growth, prices and profitability. The proprietary data in this report is collected by The Insight Partner's dedicated research and analysis team of experienced professionals with advanced statistical expertise and various customization options in the existing study.

Key Benefits of Buying this Research Study:
o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Smart Reefer Container Market
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in the Smart Reefer Container Market, thereby allowing players to develop effective long term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

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