Press release
Container Tracking Market to Grow at 7.8% CAGR, Reaching $14.63 Billion by 2029
Container Tracking
Container Tracking Market Outlook: How is the Market Expected to Grow by 2025?
There has been robust growth in the container tracking market size in recent years. The market, which was valued at $10.11 billion in 2024, is projected to escalate to $10.85 billion in 2025, marking a compound annual growth rate (CAGR) of 7.3%. This growth during the historical period can be traced back to a rise in consumer demand for transparency, a surge in the need for efficient and reliable logistics solutions, an increase in the quantity of goods, a growth in seaborne trade, and enhanced safety standards at sea.
Container Tracking Market Forecast: What Size Will It Reach By 2029?
Anticipations are high for a robust expansion in the container tracking market in the upcoming years. The market is projected to bolster to $14.63 billion by 2029, with a compounded annual growth rate (CAGR) of 7.8%. The projected trajectory of growth within this period can be credited to the growing importance placed on sustainability, the expansion of international trade and globalization, the dedication to enhancing fleet optimization and efficiency, increase in trade volumes, and progression in infrastructure. Major trends expected during the forecast period include the expansion of blockchain applications, advancement in data analytics and visualization, the embrace of autonomous vehicles and drones, the integration with supply chain platforms, and a stronger emphasis on environmental and sustainability aspects.
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Which Key Market Drivers Will Shape Container Tracking Industry Trends in 2025-2029?
The surge in cargo theft is projected to fuel the expansion of the container tracking market. Escalating economic strains are contributing to a rise in criminal activity and sophisticated theft methods, outstripping existing security procedures. Furthermore, the booming e-commerce sector has increased the quantity and worth of goods in transit, making them lucrative targets for criminals. Container tracking provides a solution to cargo theft by offering real-time location and status information, enabling swift action in cases of unauthorized movements. This system strengthens security by offering detailed surveillance and data analysis from the past. For example, TAPA EMEA, the non-profit industry organization based in the Netherlands, reported a 35.46% rise in transport theft instances in the European Union in 2023, compared to 2022. The number of incidents increased from 6,113 to 8,281. The total economic impact of these crimes, based on the reported value of stolen merchandise, stood at $594.16 million (EUR 549 million). This was a 438% increase from 2022 and a shocking 1,076% rise from 2021. Hence, the escalating cargo theft is accelerating the growth of the container tracking market.
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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
Which Global Trends Are Driving Container Tracking Market Expansion?
Leading firms in the container tracking market, including Hapag-Lloyd., are concentrating their efforts on creating innovative solutions like dry container tracking to bolster security, streamline logistics operations, and deliver real-time transparency. Dry container tracking involves the supervision and control of conventional shipping containers that transport cargo, which do not need specialized conditions like cooling or controlled atmospheres. In April 2024, Hapag-Lloyd., a maritime transport company based in Germany, rolled out a novel live position product, utilizing the Internet of Things (IoT) technology extensively to provide end-to-end visibility on-demand. With unique features such as real-time shipment visibility, an easy-to-use interface for container or booking number tracking, instant information updates, and future enhancement plans like application programming interface integration and Estimated Time of Arrival (ETA) predictions, it ensures enhanced tracking capabilities.
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Who Are the Fastest-Growing Companies in the Container Tracking Industry?
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 Is the Regional Outlook for the Container Tracking Market by 2029?
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.
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