Global Cargo Visibility Technology Market is projected to reach the value of $13 billion by 2030

According to the report published by Virtue Market Research , In 2022, the Global Cargo Visibility Technology Market was valued at $6.06 billion and is projected to reach a market size of $13 billion by 2030. Over the forecast period of 2023-2030, market is estimated to grow at a CAGR of 10%.
Cargo visibility technology has become an integral part of the global logistics and supply chain industry. The technology is used to track and monitor the movement of cargo in real-time, enabling companies to optimize their operations, reduce costs, and improve efficiency.

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The long-term market driver for cargo visibility technology is the growing need for transparency and visibility in supply chain operations. The technology helps companies to track their inventory in real-time, which enables them to make better decisions about their operations. As a result, the demand for cargo visibility technology has been steadily increasing over the past few years.

However, the outbreak of COVID-19 has had a significant impact on the cargo visibility technology market. The pandemic has disrupted global supply chains, leading to delays and disruptions in the movement of cargo. In response to these challenges, companies have been investing heavily in cargo visibility technology to gain better visibility into their supply chains. The pandemic has also accelerated the adoption of technology-enabled solutions in the logistics industry, including cargo visibility technology.

One short-term market driver for cargo visibility technology is the increasing demand for e-commerce. The rise of e-commerce has led to a significant increase in the volume of small package shipments, which requires more precise tracking and monitoring. As a result, companies are increasingly adopting cargo visibility technology to ensure that they can track and monitor their shipments in real-time.

An opportunity in the cargo visibility technology market is the increasing adoption of cloud-based solutions. Cloud-based solutions offer several benefits, including scalability, flexibility, and cost-effectiveness. As a result, more and more companies are adopting cloud-based cargo visibility solutions to improve their supply chain operations.

One trend observed in the cargo visibility technology market is the increasing use of artificial intelligence (AI) and machine learning (ML) to improve visibility and predictability in supply chain operations. AI and ML can analyze large volumes of data generated by cargo visibility technology to identify patterns and predict potential disruptions in supply chain operations. As a result, companies are increasingly investing in AI and ML-enabled solutions to improve their supply chain operations.

Segmentation Analysis:

The Global Cargo Visibility Technology Market segmentation includes:

By Technology: RFID (Radio-Frequency Identification), GPS (Global Positioning System) IoT (Internet of Things), Barcode scanning, Blockchain, AI (Artificial Intelligence) & Others

RFID is one of the most widely adopted technologies in the cargo visibility technology market. It uses radio waves to track and identify cargo, and RFID tags are attached to the cargo for identification. GPS is also a popular technology, providing real-time tracking and location data for cargo. IoT technology is gaining traction in the market, with sensors embedded in cargo containers or vehicles transmitting data to the cloud for real-time analysis. Barcode scanning is a traditional technology used for tracking and monitoring cargo, while blockchain technology offers secure and tamper-proof data storage for cargo tracking. AI technology is increasingly being adopted to analyze data collected by sensors and other tracking technologies to predict and prevent disruptions in supply chain operations.

By Application: Trailers, Intermodal Containers, Rail Freight Wagons, Cargo Boxes, Pallet

The cargo visibility technology market by application includes geothermal trailers, intermodal containers, rail freight wagons, cargo boxes, and pallets. Among these, geothermal trailers have the largest market share, driven by the need for temperature-controlled transport of goods. This application segment is expected to continue its dominance in the
market during the forecast period.
However, the fastest-growing application segment in the cargo visibility technology market is trailers. The increasing demand for e-commerce and the rise in small package shipments have led to a greater need for precise tracking and monitoring of cargo, which is driving the growth of this application segment. As a result, companies are increasingly investing in cargo visibility solutions for trailers to improve their supply chain operations.

By End User: Transportation & Logistics, Warehouse Management, Others

Transportation and logistics has the largest market share in this segment, driven by the need for real-time tracking and monitoring of cargo during transportation. The segment is expected to continue its dominance during the forecast period, with companies increasingly adopting cargo visibility technology to improve their supply chain operations.

The fastest-growing end-use segment in the cargo visibility technology market is transportation and logistics. The outbreak of COVID-19 has disrupted global supply chains, leading to an increased demand for real-time visibility and transparency in supply chain operations. As a result, companies are investing heavily in cargo visibility technology to ensure that they can track and monitor their shipments in real-time. This trend is expected to continue during the forecast period, driving growth in the transportation and logistics segment of the market.

Other end-use segments in the cargo visibility technology market include warehouse management and others. Warehouse management involves the use of cargo visibility technology to track and monitor inventory within a warehouse, ensuring that it is properly managed and optimized. The others segment includes applications such as fleet management, cold chain management, and supply chain analytics.
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Regional Analysis:

North America has the largest market share in the cargo visibility technology market, driven by the increasing adoption of technology-enabled solutions in the logistics industry. The region has a well-established logistics infrastructure, and companies in the region are investing heavily in cargo visibility technology to improve their supply chain operations.

The Asia-Pacific region is also a significant market for cargo visibility technology, with the region expected to experience strong growth during the forecast period. The increasing adoption of e-commerce in the region is driving the demand for real-time tracking and monitoring of cargo, which is expected to boost the demand for cargo visibility technology. Additionally, the region has a large manufacturing industry, which requires efficient and reliable supply chain operations, driving the adoption of cargo visibility technology.

Europe is another significant market for cargo visibility technology, driven by the need for real-time tracking and monitoring of cargo in the region's well-established logistics infrastructure. The region is also witnessing increasing investments in the adoption of technology-enabled solutions in the logistics industry, which is driving the growth of the cargo visibility technology market.
The rest of the world also presents opportunities for growth in the cargo visibility technology market, with countries in Latin America and the Middle East experiencing increasing investments in the logistics industry. The growth of the e-commerce industry in these regions is also driving the demand for cargo visibility technology.

Latest Industry Developments:

• Maersk announced a partnership with Twill in April 2020 to provide customers with end-to-end visibility of their cargo using Twill's digital platform. The partnership was part of Maersk's strategy to become an integrated container logistics company.

• Transmetrics, a startup that provides AI-powered predictive optimization software for the logistics industry, has partnered with DHL Global Forwarding to improve cargo flow and capacity management

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