Global Smart Container Tracking System Market 2022-2028

Global Smart Container Tracking System Market 2022-2028

At the beginning of the global pandemic, the B2B logistics market halted due to the disruption in supply chains globally. Smart container tracking systems can assist companies to gather more accurate data during the unstable COVID-19 situation and have up-to-date information on changes to supply chains. The global smart container tracking system market is growing at a CAGR of 17.3% during the forecast period (2022-2028). The increasing trend of integrating Internet of Things (IoT) technologies is one of the major factors for the significant growth of the market. The growth of international trade and the development of retail food chains has contributed to market growth.

Growing demand for smart container tracking systems in the pharmaceutical, oil, and gas, and chemical industries are driving the market growth. The smart containers are designed to regulate the internal conditions (such as temperature), provide real-time GPS tracking, enhance security, and provide condition information. In addition, smart shipping containers can be self-powered by solar panels on their exterior and have batteries to enable energy to be stored. The integration of IoT in containers can provide accurate real-time data about the condition, location, and environment directly to the operators. These features enable efficient and secure shipping across the borders.

Across the globe, a third of all food is spoiled before it ever reaches the consumer. According to the Food & Agriculture Organization of the United Nations, that amounts to 1.3 billion metric tons. A significant proportion of this is due to a loss in quality of the goods during transportation. In developing countries, as much as 40% of food perishes while it is being transported. To address these transportation challenges, smart containers are being used in the food and beverages industry. In addition, the rising demand for packed food and perishable foods is growing across the globe which creates demand for smart container tracking systems.

Hardware market is driven by growing demand for a wide variety of hardware components such as sensors and connectivity devices, for container monitoring and tracking applications. Based on technology, the market is segmented into GPS, Cellular, BLE, and LoRa WAN.

The pharmaceutical industry market is growing at the highest CAGR of 18.0% during the forecast period. The growth is supplemented by growing demand for COVID-19 vaccines such as the Pfizer/BioNTech across the globe. Various pharmaceutical companies are integrating temperature sensors to maintain the required temperature. Hence, market players are significantly focused on delivering smart containers for recent extensive pharmaceutical needs. For instance, in November 2021, SkyCell, the leading manufacturer of data-driven temperature-controlled smart containers for the pharmaceutical industry, has developed an ultra-cold smart container that will ensure the safe transportation of COVID-19 vaccines globally, regardless of outside temperatures. SkyCell’s solution maintains a steady temperature of minus 60° Celsius to minus 80° Celsius for more than 120 hours without recharging, enabling up to 1.75 million doses to be transported in a single aircraft - enough to vaccinate between 875,000 and 8.75 million people depending on the vaccine and concentration, and up to 10 times the capacity of common existing solutions.

The global smart container tracking system market is segmented into North America (the US and Canada), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, India, Japan, and the Rest of Asia-Pacific), and the Rest of the World. Europe region held a significant market share, Owing to the presence of major shipping companies such as Maersk, CMA CGM, Hamburg Sud, and MSC, the market in Europe is expected to hold the highest market share in 2021. In May 2021, MSC has collaborated with Traxen Smart Container Solution to endow 50,000 dry cargo containers with this new technology to enable tracking of their cargo. The goal of cooperation between MSC and TRAXENS is to provide their clients with control over all their containers. They can also receive notifications about container statuses (position, temperature, movements, impacts, door opening, and other indicators) at any time. Maersk, MSC, and CMA CGM the three container shipping giants have come together to establish the Digital Container Shipping Association back in April 2021 for ensuring ongoing research and continued collaboration in the creation of technology-enabled solutions in the container shipping industry. The market in Asia-Pacific is projected to grow at the highest CAGR of 18.1% during the forecast period.Owing to the availability of large coastal lines and the growing presence of the majority of global shipping container manufacturers such as TLS Offshore Containers International Pvt Ltd., China International Marine Containers (Group) Ltd (CIMC), Maersk Container Industry AS, W&K Containers Inc. in Asia-Pacific.

Major players in the smart container tracking system market include Orbcomm, Robert Bosch Manufacturing Solutions (Robert Bosch GmbH), ZillionSource Technologies Co., Ltd. (Cisco), Traxens, and Emerson Electric Co. Other players operating in the market include Phillips Connect Technologies (Division of Phillips Industries), Globe Tracker, Smart Containers Group AG, Nexiot AG, and others. These companies are adopting several strategies such as new product launches, expansion, agreements, partnerships, supply orders, mergers, and acquisitions to capture the smart container tracking system market.

Few Recent Developments

In September 2021, Dingle-based IoT company Net Feasa has teamed up with Vodafone Ireland to launch a new intermodal smart container technology for the global logistics industry. Using Vodafone’s global IoT network and Net Feasa’s IoTPass platform, the companies plan to offer tracking and data services for freight containers, to help logistics firms save on transport costs and potentially reduce carbon footprints.

In December 2021, ORBCOMM introduced the new IoT connectivity interface standards for monitoring refrigerated containers on-board vessels published by the Digital Container Shipping Association (DCSA).

In April 2021, Traxens announced that it has introduced the new pricing to help global partners manage the challenges presented by the COVID-19 pandemic. The company now offers a price of $35 per smart dry container trip – in a move aimed at bolstering the supply chain industry.