Press release
Evolving Market Trends In The Container Tracking Industry: Advancements In Container Tracking Enhancing Security And Efficiency
Container Tracking Market
What Is the Expected Container Tracking Market Size During the Forecast Period?
The container tracking market will expand from $10.11 billion in 2024 to $10.94 billion in 2025, with a CAGR of 8.2%. This growth is attributed to the rising consumer demand for transparency, the need for efficient logistics solutions, increased goods volume, growing seaborne trade, and higher safety standards at sea.
The container tracking market is projected to reach $14.86 billion by 2029, with a CAGR of 8.0%. This growth is driven by a focus on sustainability, growth in international trade, fleet optimization, rising trade volumes, and infrastructure development. Key trends include blockchain applications, data analytics, autonomous vehicles and drones, integration with supply chain platforms, and sustainability initiatives.
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What Are the High-Growth Segments in the Container Tracking Market?
The container tracking market covered in this report is segmented -
1) By Offering: Hardware, Software, Service
2) By Technology Type: Radio Frequency Identification (RFID), Global Positioning System (GPS), Cellular, Satellite
3) By Mode of Transportation: Maritime, Land, Air
4) By End-User: Food And Beverage, Consumer Goods, Vehicle Transport, Healthcare, Industrial Products, Other End-User
Subsegments:
1) By Hardware: Gps Trackers, Rfid Tags, Sensors (Temperature, Humidity, Motion), Satellite Communication Devices
2) By Software: Real-Time Tracking Platforms, Data Analytics And Reporting Software, Container Management Systems, Fleet And Logistics Management Software
3) By Service: Installation And Maintenance Services, Data Processing And Analysis Services, Cloud-Based Tracking Services, Consulting And Integration Services
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What Key Drivers Are Expected to Influence Future Container Tracking Market Growth?
The rising incidence of cargo theft is expected to drive the growth of the container tracking market. Cargo theft is on the rise due to economic pressures and sophisticated theft methods. The growth in e-commerce has also increased the volume of goods being transported, making cargo an attractive target. Container tracking provides real-time location updates and security features to mitigate theft. For example, in May 2024, TAPA EMEA reported a 35.46% increase in transport theft cases in the European Union from 2022 to 2023. This rising cargo theft is driving the growth of the container tracking market.
Which Companies Hold the Largest Share Across Different Container Tracking Market Segments?
Major companies operating in the container tracking market are A.P. Moller - Maersk A/S, CMA CGM Group, Cosco Shipping Lines Co Ltd., NetSuite Inc., Hapag-Lloyd AG, Mediterranean Shipping Company S.A., Orient Overseas Container Line Limited, DP World Logistics FZE, Yang Ming Marine Transport Corporation, Zim Integrated Shipping Services Ltd., Evergreen Marine Corporation, Wan Hai Lines Ltd., Kawasaki Kisen Kaisha Ltd, Hyundai Merchant Marine Co., Ltd., Zebra Technologies Corporation, Ocean Network Express Pte. Ltd., Project44 Inc., CargoWise, E2open Parent Holdings Inc., ORBCOMM Inc., Hanjin Logistics Corporation, Pacific International Lines (Pte) Ltd., GoComet, CargoSmart Ltd.
What Trends Are Expected to Dominate the Container Tracking Market in the Next 5 Years?
In the container tracking market, companies are creating solutions like dry container tracking to improve logistics efficiency and security. In April 2024, Hapag-Lloyd launched a live position product that offers real-time visibility of shipments using IoT technology, allowing users to track containers and receive on-demand updates via an online interface.
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What Are the Emerging Geographies for The Container Tracking Market Growth?
Asia-Pacific was the largest region in the container tracking market in 2024. The regions covered in the container tracking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Container Tracking Market?
2. What is the CAGR expected in the Container Tracking Market?
3. What Are the Key Innovations Transforming the Container Tracking Industry?
4. Which Region Is Leading the Container Tracking Market?
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