The smart container market size is projected to reach US$ 218.4 billion by 2031 from US$ 46.05 billion in 2023. The market is expected to register a CAGR of 21.5% in 2023–2031. The market is growing due to the increasing demand for shipping and real time tracking of the goods.
Smart container technology can be linked to other innovations, such as big data, blockchain, or data pipelines, to provide even more support to the trading community. In all of these cases, though, we see that creating clear, explicit message exchange standards will allow us to capitalize on the full potential of the enhanced data.
Smart containers mean shipping lines and cargo-related stakeholders can have access to container data coming from the source regardless of whether the container is on a ship, in a yard, or at any other point during its pre-haul and post-haul journey. Smart Containers are embracing the Internet of Things (IoT) to enhance decision-making by the various sectoral stakeholders.This provides superior visibility to the investors within the transaction as well as to regulatory agencies who need comprehensive information on the consignments before they arrive at the border.
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Smart Container Market: Strategic Insights
Different technologies enable Smart containers to communicate information captured through a wide range of sensors about their current status (e.g., GPS position, door opening detection, movements vibrations and shocks, atmospheric conditions, etc.) and to remotely change their parameter settings (e.g., temperature setups, remote defrost, etc.) anywhere, anytime. IoT technologies have proven there is huge potential for businesses to leverage their efficiency and mitigate their risks. Smart assets will become a common feature in the shipping industry.Smart containers transmit a large amount of data, which, combined with other data in the primary host system, can be analyzed and interpreted to provide even more relevant evaluations. This data is not only useful during the journey of a single container. In the context of multiple trips over an extended time, it can provide global visibility of operations. When comparing average turnaround times or damage rates between different ports and yards, one can build and evaluate programs to bring all stakeholders up to the same level of supply chain excellence. Thus, the growing adoption of advanced technologies at the service of trade facilitation is driving the growth of the smart containers market.
One of the most valuable advantages of smart containers is the ability to record shipments in real-time. The persistent flow of data from these containers allows logistics providers and customers to know the accurate status and location of their shipments at any given moment. This feature not only improves delivery accuracy and reduces the chances of lost shipments but also allows for proactive issue resolution, thus significantly enhancing customer service. Smart containers are also revolutionizing logistics security through technologies such as geofencing, which can generate alerts if containers stray from their predefined path or if unauthorized access is detected. This level of security is remarkably important in the transportation of high-value or sensitive goods and plays a critical role in deterring theft and improving overall supply chain security.
Key segments that contributed to the derivation of the smart container market analysis are component, technology, and industry vertical.
The geographic scope of the smart container market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America. Smart containers are changing the customer experience in logistics. Real-time tracing and enhanced visibility mean customers are always notified about the status of their shipments, reducing uncertainty and improving trust, which is propelling the growth of the smart containers market.
The regional trends and factors influencing the Smart Container Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Smart Container Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 46.05 billion |
| Market Size by 2031 | US$ 218.4 billion |
| Global CAGR (2023 - 2031) | 21.5% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Components
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Smart Container Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Smart Container Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The smart container market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:
(Source: CMA CGM, Company Website, 2022)
(Source: Tower Cold Chain, Company Website, 2022)
The "Smart Container Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
The global smart container market was estimated to be US$ 46.05 billion in 2023 and is expected to grow at a CAGR of 21.5% during the forecast period 2023 - 2031.
The growing adoption of advanced technologies at the service of trade facilitation is the major factors that propel the global smart container market.
Blockchain in logistics play a significant role in the global smart container market in the coming years.
The key players holding the majority of shares in the global smart container market are Ambrosus, A.P. Møller - A/S, Globe Tracker, ApS, Hapag-Lloyd AG, and Nexxoit AG.
The global smart container market is expected to reach US$ 218.4 billion by 2031.