Shipping Containers Market, By Product Type(Dry Containers (20’ (20 ft.), 40’ (40 ft.), 40’ High Cube and Others), Reefer Containers (20’ (20 ft.), 40’ (40 ft.), 40’ High Cube, Others), Tank Containers and Others) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
A Shipping Container is a specialized high-speed network that provides block-level network access to storage. SANs are used to augment the capacity of mass storage devices. Moreover, it connects all storage devices together in any network and links them to different operating systems in other IT networks. With increasing volumes of critical data being accumulated in the global business environment, there is a need among enterprises for better performance, availability, manageability, and security of data storage assets.
The global shipping container market was valued for US$ 11,168.8 Mn in 2021.
Market Dynamics
In the recent past, the capital expenditure on IT and associated infrastructure have increased significantly, especially in emerging economies. Furthermore, emerging regions such as MEA, Asia Pacific, and Latin America are witnessing a major increase in the need for investment in IT infrastructure after a break. According to Coherent Market Insights analysis, in 2015, global hardware expenditure was hindered by declining sales of PCs and phones. However, other markets are expected to perform better since enterprises are actively investing in network and storage infrastructure. According to the same source, global hardware expenditure accounts for 24% of total IT investment. Hence, these factors are expected to boost the global Shipping Containers market growth in the near future. Increasing speed, reliability, and safety of containerization have compelled companies to opt for containers to ship their goods. Decreasing the cost of long-distance containerized transportation combined with the globalization of trade further boosts containerization. According to Coherent Market Insights analysis, growth in container transport is estimated to increase significantly by 2015 end. Hence, these factors are expected to propel the global shipping container market growth over the forecast period.
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