Press release
Cargo Inspection Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033 | SGS Group, Bureau Veritas SA, Intertek Group plc, ALS Limited, Cotecna Inspection SA, Peterson and Control Union BV
Cargo Inspection Market Characteristics
The Business Research Company offers in-depth market insights through Cargo Inspection Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The cargo inspection market size has grown steadily in recent years. It will grow from $2.82 billion in 2023 to $2.94 billion in 2024 at a compound annual growth rate (CAGR) of 4.1%. The growth in the historic period can be attributed to global trade expansion, stringent regulatory standards, rise in cross-border terrorism, drug trafficking and illicit trade concerns, trade facilitation agreements..
The cargo inspection market size is expected to see steady growth in the next few years. It will grow to $3.48 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. The growth in the forecast period can be attributed to continued global security concerns, expansion of e-commerce logistics, focus on anti-counterfeiting measures, expansion of air cargo transportation.. Major trends in the forecast period include advancements in sensor technologies, integration of artificial intelligence (ai), blockchain integration in supply chains, collaboration among inspection agencies, integration of multi-modal inspection system..
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Market Segmentation:
The cargo inspection market covered in this report is segmented -
1) By Type: Marine, Air, Road
2) By Component: Software, Hardware, Service
3) By Industry: Mining Industry, Oil and Gas Industry, Agriculture Industry, Other Industries
Major Driver - Surge In International Trade Boosts Demand For Cargo Inspection Services
A rise in international trade is expected to propel the growth of the cargo inspection market. International trade refers to the buying, selling, or trading of products and services between businesses in other nations. In international trade, cargo inspection assists the authorities in determining if the shipment's contents adhere to the numerous requirements outlined in the sales contract. For instance, in May 2022, according to a report shared by the World Trade Organization (WTO), a Switzerland-based intergovernmental organization that regulates and facilitates international trade, in the fourth quarter of 2021, global exports of intermediate goods (IGs) increased by 21% year over year. Therefore, a rise in international trade is driving the growth of the cargo inspection market.
Competitive Landscape:
Major companies operating in the cargo inspection market report are SGS Group, Bureau Veritas SA, Intertek Group plc, ALS Limited, Cotecna Inspection SA, Peterson and Control Union BV, Swiss Approval International GmbH, AIM Control Inspection Group of Companies, Cargo Inspections International Limited, Alex Stewart International Private Limited, CWM Survey & Inspection BV, Alfred H Knight International Limited, Cargo Inspectors and Superintendence Co. Pvt. Ltd., E.L. Johnson's Sons & Mowat Ltd., Wakefield Inspection Services Ltd., Marine Inspection LLC, WK Webster & Co. Ltd., Brookes Bell LLP, TUV Sud South Asia Pvt. Ltd., Saybolt LP, Core Laboratories, DNV GL AS, Eurofins Scientific SE, Camin Cargo Control Inc., Qtech Control Limited, Sandler & Travis Trade Advisory Services, SAI Global Assurance Services Inc., Bureau Cargo Inspection, Commodity Inspection Services, Lloyd's Inspection Agency, National Inspection Services, Intego Inspection Services, Pro QC International
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Top Trend - Innovative Solutions In Inspection Market
Product innovation is emerged as a key trend gaining popularity in the cargo inspection market. Major companies operating in the cargo inspection market are focused on innovating new services to sustain their position in the market. For instance, in March 2022, National Cargo Bureau, a US-based container inspection company, launched a remote container inspection service based on the web-based container inspection database and access portal. Customers can use the new service to remotely assess and inspect container transport units with the assistance of NCB's surveyor staff. Media files and client data are automatically posted to the mobile platform via this device.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Cargo Inspection Market Characteristics
3. Cargo Inspection Market Trends And Strategies
4. Cargo Inspection Market - Macro Economic Scenario
5. Cargo Inspection Market Size And Growth
…..
27. Cargo Inspection Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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