Global Smart Container Market 2023-2030

Global Smart Container Market 2023-2030

Global Smart Container Market Size, Share & Trends Analysis Report by Component (Hardware, Software, Services), by Technology (GPS (Global Positioning System), LoRa WAN (Long Range Wide Area Network), BLE (Bluetooth Low Energy), Cellular, Others (Internet of Things (IoT), RFID (Radio-frequency identification))), and by End User (Food & beverages, Oil & gas, Pharmaceuticals and Chemicals), Forecast Period (2023-2030)

Global smart container market is anticipated to grow at a CAGR of 20.0% during the forecast period (2023-2030). Smart containers refer to shipping containers equipped with sensors and advanced technology that enable the real-time monitoring and tracking of cargo and container conditions, providing valuable insights into factors such as temperature, humidity, and location. These containers offer advantages such as heightened visibility within the supply chain, improved cargo security, and more efficient cargo management. The global market for smart containers is driven by factors such as demand for enhanced supply chain efficiency, increased cargo security, and the necessity to preserve product quality during transportation, particularly in sectors like pharmaceuticals and food. Furthermore, factors like regulatory compliance, sustainability initiatives, and the widespread adoption of IoT technology in logistics are additional drivers contributing to the market's expansion. In summary, smart containers represent a pivotal advancement in the logistics industry, addressing a range of requirements and propelling market growth.

Segmental Outlook

The global IoT in the agriculture market is segmented by component, technology, and end-user. Based on components, the market is sub-segmented into hardware, software, and services. Based on the technology, the market is sub-segmented into GPS (Global Positioning System), LoRa WAN (Long Range Wide Area Network), BLE (Bluetooth Low Energy), Cellular, Others (Internet of Things (IoT), RFID (Radio-frequency identification). Based on End-user the market is sub-segmented for food & beverages, oil & gas, pharmaceuticals, and chemicals industry. Among the end-users, the demand for smart containers is expected to grow in the pharmaceutical industry.

The market is driven by several significant factors.In the pharmaceutical sector, stringent regulations mandate the use of these containers to ensure compliance and product safety. This is especially important given the industry's emphasis on preserving the integrity of temperature-sensitive pharmaceuticals. In a growing global pharmaceutical supply chain, real-time monitoring and control have become essential. The protection of high-value cargo, along with the industry's need to ensure quality assurance, further contributes to the rising reliance on smart containers. Additionally, these containers play a critical role in enhancing transparency and efficiency in pharmaceutical logistics and help to reduce illegal activities in the sector, aligning with the increasing importance of supply chain visibility.

The demand for smart containers is expected to grow significantly in the Food and beverages sector.

The food and beverages sector is witnessing a substantial rise in the demand for smart containers. Stringent regulations and the need for product preservation make smart containers indispensable for ensuring compliance and product safety. The industry's expanding global presence requires real-time monitoring, and the protection of valuable cargo, in combination with a commitment to quality assurance, contributes to the increasing adoption of smart containers growing global population, and growing climate uncertainties are pushing governments and private players to focused on more efficient supply chain to reduce food wastage. As supply chain visibility gains prominence, these containers play a crucial role in enhancing transparency and efficiency in food and beverage logistics.

Regional Outlook

The global Smart container market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, the demand for the smart container market is expected to grow significantly in the European region. The European region has the highest seaport activities after Asia Pacific. According to the 2022 statistics handbook of the United Nations Conference on Trade and Development, in 2021, the total goods discharged and loaded in the European region was 1.5 billion tons and 1.7 billion tons respectively which was highest after Asia-Pacific. Also, the trade activities in FMCG and pharmaceuticals have seen significant growth. According to Eurostat, in 2022 compared with 2021, imports (+12 %) and exports (+22 %) of pharmaceutical products grew strongly, mainly because of increasing prices. With growing maritime trade in the region and the presence of companies in the smart container market such as Traxens, and Nexxiot in the region, the demand is expected to grow further.

The Asia-Pacific Region is Expected to Grow Significantly in the Global Smart Container Market.

According to the 2022 statistics handbook of the United Nations Conference on Trade and Development, 42% of all goods are loaded in Asian ports. Globally the region has the highest share in maritime trade activities. In 2021, the total goods loaded and discharged in the Asia-Pacific region was 4.6 billion tons and 7 billion tons respectively. Apart from a significant share in global trade, the demand for consumer goods such as FMCG products, and pharmaceutical products is also growing in the region mainly due to the growing population, and disposable income. The major countries in the region such as India and China also hold considerable market share in global pharmaceutical manufacturing. With growing maritime activities and demand for sustainable and efficient supply chain solutions in the region, the demand for the smart container market is expected to grow significantly in Asia-Pacific.

Market Players Outlook

The major companies serving the IoT in the agriculture market include Orbcomm Inc., Phillips Connect Technologies LLC, Zillionsource Technologies Co. Ltd., Sealand – A Maersk Company, Ambrosus, and Globe Tracker among others. Companies are adopting strategies such as focusing on research and development and collaboration to stay competitive. For instance, in May 2023, Project44, a company that provides visibility into supply chains, announced that it has partnered with Nexxiot, a company that makes hardware for tracking containers. The goal of the partnership is to integrate real-time data about the location and condition of containers into Project44's platform.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global smart containers market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.