Key Factors Inhibiting Growth of the Global Container Security Solutions Market Throughout 2017 - 2025
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The purpose of containerization (also known as sandboxing) is to protect shipments trading through sea from threats such as terrorist attacks, weapons trafficking and drug dealing. The container acts as a storage area that is authenticated and encrypted by software and governed by corporate IT security policies. Container security and tracking technology is capable of delivering high performance, as well as excellent durability and reliable security features.
Demand for improved monitoring of several product categories, from the production to shipment delivery and growing concern of cargo safety and security are among major drivers of this market. Several other factors such as surging need for cost-effective logistics and on-time deliveries are further supporting market growth. Although several factors are driving market growth, efforts to increase market penetration have been hampered by technological limitations and the high operational cost of container security solutions. Over the years, there has been an increased usage of container security and tracking solutions. For instance, in an increasingly competitive and unsecure container transportation industry, end-to-end visibility, monitoring, and tracking is becoming more important and it demands for cheaper and safer container transport. Container technologies are capable of providing significant benefits to development to operations (DevOps), including resource efficiency, increased scalability, and resilient features due to its small size. The container only needs enough of the operating system and hardware information to run the application that it is responsible for.
The global container security solutions market is categorized on the basis of technology, end use industry and geographic regions. Segmentation on the basis of technology includes radio-frequency identification (RFID), real-time locating systems (RTLS), global positioning system (GPS), optical character recognition (OCR) and others. On the basis of end-use industry the market is divided into government sector, oil & gas, aerospace & defense, healthcare sector, IT & communication, banking, financial services and insurance (BFSI), and others. The container security solutions market has been studied for five geographic regions namely North America, Europe, Asia Pacific, Middle East and Africa, and South America.
There is an increasing adoption of container security solutions by major end-users because it offers several advantageous features such as operational cost reduction by increasing visibility and offers cost-effective real-time information of assets in case of loss of container or theft. North America is predicted to lead the global container security solutions market followed by Europe due to increasing security concerns in addition to better customer service, monitoring sensitive cargo, cargo thefts and tracking containers at ports for improved management and high output of ports. Asia Pacific region is forecasted to be the fastest growing region due to technical improvements such as incorporation of enhanced cargo handling features to ensure damage control.
In order to meet the requirements of government and the shipping industry, the container security solution providers are expected to innovate and develop systems that will make their products more attractive to customers through interoperability and integration of several enhanced features.
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Major players of the global container security solutions market are Cubic Transport Services, International Business Machines Corporation, Kirsen Global Security, RFID Global Solution, Inc., Savi Technology, Motorola Solutions, APS Technology, European Datacomm nv, CSB Technologies, Honeywell Global Tracking, Starcom Systems Inc. and Global Tracking Technology.
Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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