Press release
Global Smart Container Market to Reach $9.3 Billion by 2029, Growing at 18.5% CAGR
Smart Container
The increasing use of Internet of Things (IoT) devices is poised to accelerate the expansion of the smart container market. IoT signifies a network of interlinked devices empowered by technology that allows seamless communication amongst them through the cloud. An IoT ecosystem is at the core of smart containers, encompassing web-enabled intelligent devices utilizing embedded systems to gather, transmit, and retrieve data. This amalgamation offers real-time GPS tracking, fortifies security, and supplies condition updates that can warn operators of possible issues. By incorporating IoT for improved decision-making, smart containers push the digital transformation of shipping beyond paperless operations. Consequently, the growing usage of IoT devices bolsters the demand in the smart container market. For example, in March 2023, as per Ericsson, a telecommunications firm based in Sweden, the quantity of IoT connections in 2022 was 13.2 billion, projected to surge to 34.7 billion. Hence, the increasing utilization of IoT devices fuels the smart container market.
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What is the projected compound annual growth rate (CAGR) of the smart container market from 2025 to 2034, and what factors influence it?
In the past few years, there has been a swift expansion in the size of the smart container market. The market is projected to increase from a value of $3.98 billion in 2024 to $4.72 billion in 2025, with a compound annual growth rate (CAGR) of 18.5%. This significant growth during the historical period is due to factors such as the augmentation of global trade, the necessity for regulatory compliance, the optimization of supply chains, the increasing focus on security, and the growing demand for real-time monitoring.
In the coming years, the size of the smart container market is projected to expand swiftly, reaching a value of $9.3 billion in 2029 with a compound annual growth rate (CAGR) of 18.5%. The predicted growth throughout the forecast period can be due to several factors like the launch of 5G, the rise of autonomous vehicles, initiatives for smart cities, the development of e-commerce, and the advancement of intermodal transportation. The key trends anticipated during this forecast period consist of the acceptance of edge computing, the use of augmented reality in logistics, the provision of smart container-as-a-service (CaaS), the emergence of digital twins, and the implementation of sustainability metrics.
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How are the latest trends influencing the growth of the smart container market?
Firms dominating the smart container industry are aiming to develop sophisticated, durable materials and composite structures to optimize supply chain efficiency and enhance cargo tracking. This strives to promote increased transparency and sustainability within logistics procedures. A method known as composite construction, involves the combination of varied materials to create a product of high strength and durability. This provides improved performance, less weight and superior insulation compared to conventional materials. For instance, in April 2023, AELER Technologies SA, a Swiss company specialized in logistics service, unveiled its latest generation container, 'Unit One', during Singapore Maritime Week. This container is designed to outperform traditional containers in terms of strength, insulation, and intelligence. The composite materials used in Unit One contribute to enhanced cargo capacity and lower carbon emissions, with the goal of decreasing the global shipment of empty containers.
What are the major segments of the smart container market and their role in driving growth?
The smart container market covered in this report is segmented -
1) By Offering: Hardware, Software, Services
2) By Technology: GPS (Global Positioning System), Cellular, LoRa WAN (Long Range Wide Area Network), Bluetooth Low Energy (BLE), Other Technologies
3) By Size: Small Enterprises, Medium Enterprises, Large Enterprises
4) By Vertical: Food and Beverages, Pharmaceuticals, Oil and Gas, Chemicals, Other Verticals
Subsegments:
1) By Hardware: GPS Tracking Devices, Sensors, RFID Tags, IoT Devices
2) By Software: Container Management Software, Monitoring And Analytics Software, Fleet Management Software, Inventory Management Software
3) By Services: Consulting Services, Integration Services, Maintenance And Support Services, Training And Development Services
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Which regions are key players in the growth of the smart container market?
Asia-Pacific was the largest region in the smart container market in 2024. The regions covered in the smart container market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the smart container market?
Major companies operating in the smart container market include Ambrosus Technologies GmbH, Sensitech Inc., Nexxiot AG, Traxens SA, Orbcomm Inc., Globe Tracker ApS, Hapag-Lloyd AG, Smart Containers Group AG, Emerson Electric Co., Phillips Connect Technologies, Tive Inc., Hanhaa Limited, Robert Bosch GmbH, Monnit Corporation, ConexBird Oy, Identec Solutions AG, Roambee Corporation, Techwave Group, Ahrma Group, Containerchain Pty Ltd, Savvy Telematic Systems AG, Sealand - A Maersk Company, WAM Technologies LLC, Logmore Oy, CargoSense Inc., Arviem AG, Sensor Transport Inc., Savi Technology Inc., Zebra Technologies Corporation, BluJay Solutions Inc.
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What Is Covered In The Smart Container Global Market Report?
•Market Size Forecast: Examine the smart container market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the smart container market for a structured understanding.
•Key Players Overview: Analyze major players in the smart container market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the smart container market.
•Segment Contributions: Evaluate how different segments drive overall growth in the smart container market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the smart container market.
•Industry Challenges: Identify potential risks and obstacles affecting the smart container market.
•Competitive Landscape: Review strategic developments in the smart container market, including expansions, agreements, and new product launches.
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