Growth Opportunities for Track and Trace Solutions in the Global Container Shipping Sector

Growth Opportunities for Track and Trace Solutions in the Global Container Shipping Sector

This study focuses on track and trace solutions used in the container shipping industry, specifically dry and reefer containers. Track and trace solutions are used to track (identify location and history) shipments throughout the entire supply chain, from supplier to consumer, using radio frequency identification (RFID), GPS tracking, and/or barcodes. Human workers have traditionally completed these shipment processes, but as supply chains and other operational processes have become increasingly complex, track and trace solutions are necessary to provide much-needed visibility.

This study focuses on market definitions, sizes, forecasts, drivers, restraints, trends, competitors, and growth opportunities for the 2022–2029 study period. The analysis covers the following major global regions: North America and Latin America (NALA); Europe, the Middle East, and Africa (EMEA); and Asia-Pacific (APAC). Individual regions within these large groups are not covered. The top competitors in this study include P&O Ferrymasters from DP World, OPTEL Group, ORBCOMM, and ZIM.

Shipping companies are looking to reduce their labor workforce and the manual handling of cargo by automating ports. Barcodes and RFID tags are pre-scanned and kept ready to be attached to the cargo before it is loaded into shipping containers. Current pressure on global supply chains and the geopolitical instability in Europe are limiting shipping companies’ ability to provide effective solutions. This limitation is increasing the demand for fuel, leading to higher fuel prices and operating costs. The track and trace solutions for the container shipping market have tremendous growth potential. Pandemic-related pauses in workflow, massive demand from backhauls, and increased competition among companies contribute to customers’ need for track and trace solutions.