Global Smart Container Market Insights Forecasts to 2032
- The Global Smart Container Market Size was valued at USD 3.7 Billion in 2022.
- The Market Size is growing at a CAGR of 19.2% from 2022 to 2032
- The Worldwide Smart Container Market Size is expected to reach USD 21.59 Billion by 2032
- North America is expected to grow the fastest during the forecast period
Get more details on this report -
The Global Smart Container Market Size is expected to reach USD 21.59 Billion by 2032, at a CAGR of 19.2% during the forecast period 2022 to 2032.
Smart containers are cargo and logistics shipping containers that are equipped with Internet of Things (IoT) technologies, sensors, tracking devices using GPS, and solar panels. The shipping containers have been engineered for controlling their internal parameters (for example, temperature, moisture, and pressure), enable real-time GPS tracking, improve assurances, and transmit status information that can notify operators of any possible cargo challenges along the way. The data collected is autonomously fed into digital shipment records, which can be divulged with the client to deliver up-to-date tracking and used more accurately to predict arrival times at ports, allowing for optimized container unloading and transportation to the subsequent stage of the distribution process. Smart shipping containers are capable of being self-powered by solar panels on their external surfaces and consist of batteries to store energy. Smart containers are an advancement in logistics and supply chain commerce, incorporating current technologies to enhance productivity, transparency, and reliability in commodities transit. The primary reasons driving the growth of the smart container market are the increased popularity of IoT by leading market participants, IoT connected to the smart container for product monitoring, and data collection during the transportation process.
Global Smart Container Market Report Coverage
|Market Size in 2022:||USD 3.7 Billion|
|Forecast Period 2022-2032 CAGR:||19.2%|
|2032 Value Projection:||USD 21.59 Billion|
|Historical Data for:||2019-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||120|
|Segments covered:||COVID-19 Impact Analysis, By Component, By Technology, By Application, By End-Use Industry, and By Region|
|Companies Covered:||Traxens, ORBCOMM, Shenzhen CIMC Technologies Co., Ltd., Berlinger & Co. AG, MSC, Sealand Maersk, Globe Tracker, Ambrosus AG, ZillionSource, SkyCell AG, Phillips Connect, Nexiot AG, Robert Bosch, Smart Containers Group AG, Emerson, Sensitech Inc., Monnit Corporation, and Other key venders|
|Pitfalls & Challenges:||COVID-19 Empact,Challenges, Future, Growth, & Analysis|
Get more details on this report -
The rising emphasis on throughout its entirety supply chain visibility, greater demands for monitoring and management of internal container conditions, and growing utilization of IoT devices by shipping companies are projected to drive the rate of expansion of the smart container market over the forecast period. With the rise of smart logistics, there is an increase in technological use throughout the logistics industry, and numerous large logistics shipping companies are incorporating IoT devices. These technologies improve the security and monitoring of smart containers, as well as the tracking and organizing of data, which is useful in the transportation of oil and gas and commodities. These devices provide advantages such as accurate vehicle tracking, cost savings, greater procurement and transparency, increased product safety, and better transportation circumstances. As a result, advancements in technology are projected to drive smart container market adoption. Furthermore, the incorporation of modern technologies such as blockchain and AI into smart container applications is a key industry trend. Moreover, the pharmaceutical, oil & gas, and chemical industries' increased demand for efficient and safe shipping containers is propelling market expansion. The extensive use of LoRa WAN technology for smart container management is also fueling industry expansion. The market is expected to be boosted by additional factors such as increased worldwide trade and e-commerce exertion, as well as rising expenditures in upgrading container management technology.
By Component Insights
The hardware segment is dominating the market with the largest revenue share over the forecast period.
On the basis of components, the global smart container market is segmented into hardware, software, and services. Among these, the hardware segment is dominating the market with the largest revenue share of 43.8% over the forecast period. Because advanced sensors, communication technologies, and geolocation systems are required, hardware components form the fundamental basis of the integrated system and need significant investment. The hardware subsection of the smart container market includes the physical components that allow smart containers to monitor and communicate. Sensors, communication devices, tracking systems, and other embedded technologies are among these components.
By Technology Insights
The LoRa Wan segment is witnessing significant CAGR growth over the forecast period.
On the basis of technology, the global smart container market is segmented into GPS, Cellular, LoRa Wan, BLE, and others. Among these, the LoRa Wan segment is witnessing significant CAGR growth over the forecast period. LoRa WAN has gained popularity primarily because of its minimal use of electricity and long-range features, particularly in cases where transmitting information in real-time is not required. Long Range Wide Area Network (LoRa WAN) is a low-power applications wireless network protocol designed for wide-area IoT applications. It is especially useful for systems requiring long battery life, regional coverage, and low bandwidth. It's ideal for applications like smart containers, where devices must interact over greater distances without consuming too much power.
By Application Insights
The asset tracking & management segment is expected to hold the largest share of the Global Smart Container Market during the forecast period.
Based on the application, the global smart container market is classified into asset tracking & management, supply chain optimization, safety & security, and others. Among these, the asset tracking & management segment is expected to hold the largest share of the m Smart Container market during the forecast period. Many firms have invested in technology that provides continuous tracking and status updates in response to the demand for real-time visibility and efficient container usage. This sub-segment prioritizes the real-time tracking of containers, assets, and inventory to guarantee effective management and use. With the growth of international commerce and the complexity of supply chains, having instant access to asset location and condition has become critical. Furthermore, supply chain optimization is predicted to increase at the fastest rate during the projection period, owing to its capacity to improve the efficiency, visibility, and overall efficacy of supply chain operations, which has been a key driver of adoption.
By End-Use Industry Insights
The pharmaceuticals segment accounted for the largest revenue share of more than 36.2% over the forecast period.
On the basis of end-use industry, the global smart container market is segmented into food & beverages, consumer goods, pharmaceuticals, oil & gas, chemicals, and others. Among these, the pharmaceuticals segment is dominating the market with the largest revenue share of 36.2% over the forecast period, due to the high risks involved in the transportation of medical supplies and the demand for tight control and monitoring. Smart containers help the pharmaceutical industry retain the integrity of pharmaceuticals and vaccines throughout transportation. Temperature-sensitive drugs are ideal candidates for this technique. Smart containers detect and notify temperature fluctuations, ensuring pharmaceutical product quality. The severe criteria for shipping pharmaceutical products, as well as the high value of such goods and the growing global need for medications, all contribute to this segment's large market share.
Asia Pacific dominates the market with the largest market share over the forecast period.
Get more details on this report -
Asia Pacific is dominating the market with more than 38.7% market share over the forecast period. This is mostly due to the region's prominence as a worldwide manufacturing hub and its considerable contribution to international trade. Because of its dominance in international trade and production, the Asia Pacific region is a prominent player in the worldwide smart container market. Asia Pacific is a manufacturing behemoth, supplying a sizable share of the goods produced worldwide, making the region an important market for smart containers that streamline supply chains. Furthermore, increasing economic growth in nations like China and India triggers the need for better supply chain and logistics solutions. The demand for efficient supply chain solutions to manage the massive amount of goods produced and transported contributes to the Asia Pacific market's significance.
North America, on the contrary, is expected to grow the fastest during the forecast period. North America, notably the United States and Canada, is a highly industrialized region that rapidly adapts to new technologies. Smart container technology is being adopted as a result of the region's significant emphasis on optimal logistics and supply chain management. Furthermore, the region's burgeoning e-commerce sector necessitates speedier, more dependable, and transparent logistics, which drives smart container utilization. Moreover, rigid governmental standards, particularly those governing the transit of perishable commodities and pharmaceuticals, promote the need for improved container monitoring.
The Europe market is expected to register a substantial CAGR growth rate during the forecast period. Europe, with its wide trade networks, established industries, and emphasis on sustainable logistics, is another key player in the global smart container market. The increased emphasis on sustainability and carbon emissions in the regions is driving the use of efficient logistics solutions such as smart containers.
List of Key Market Players
- Shenzhen CIMC Technologies Co., Ltd.
- Berlinger & Co. AG
- Sealand Maersk
- Globe Tracker
- Ambrosus AG
- SkyCell AG
- Phillips Connect
- Nexiot AG
- Robert Bosch
- Smart Containers Group AG
- Sensitech Inc.
- Monnit Corporation
Key Market Developments
- On April 2023, AELER, a LogTech company, unveiled its newest generation sustainable smart container, 'Unit One,' at the Singapore Maritime Week. Unit One is the first transportation container made of composite, making it "stronger, better insulated, and smarter," according to AELER. In addition, the Unit One container emits 20% less carbon dioxide (CO2) when in use.
- On February 2023, Ocean Network Express (ONE) and Sony Network Communications Europe have collaborated to build a smart container solution for its global fleet. ONE's cargo transportation experience will be combined with Sony's expertise in the creation and innovation of world-class sensor and networking technologies. ONE hopes to create a smarter, more efficient shipping experience for themselves and their clients by leveraging Sony's expertise in developing novel sensor and networking technologies.
- On January 2023, Sateliot and Sensefinity have launched global 5G-IoT satellite connectivity to enable the first data transmission technology from 1,000 smart containers, which will save medium shipping companies up to $1.4 million per year on container maintenance and repairs. Sensefinity will be able to report location, temperature, humidity, vibration, and container breach in real-time with Sateliot's full 5G NB-IoT satellite constellation, unlocking a set of high-impact use cases such as notifications when a container falls into the ocean, alerting for fires inside containers, warning for cold-chain breaks for sensitive cargo such as food and medicines, and reporting impacts and damages in containers.
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Smart Container Market based on the below-mentioned segments:
Smart Container Market, Component Analysis
Smart Container Market, Technology Analysis
- LoRa Wan
Smart Container Market, Application Analysis
- Asset Tracking & Management
- Supply Chain Optimization
- Safety & Security
Smart Container Market, End-Use Industry Analysis
- Food & Beverages
- Consumer Goods
- Oil & Gas
Smart Container Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions (FAQ)
1. What is the market size of the Smart Container market?The Global Smart Container Market is expected to grow from USD 3.7 billion in 2022 to USD 21.59 billion by 2032, at a CAGR of 19.2% during the forecast period 2022-2032.
2. Which are the key companies in the market?Traxens, ORBCOMM, Shenzhen CIMC Technologies Co., Ltd., Berlinger & Co. AG, MSC, Sealand Maersk, Globe Tracker, Ambrosus AG, ZillionSource, SkyCell AG, Phillips Connect, Nexiot AG, Robert Bosch, Smart Containers Group AG, Emerson, Sensitech Inc., Monnit Corporation
3. Which segment dominated the Smart Container market share?The pharmaceuticals segment in end-use industry type dominated the Smart Container market in 2022 and accounted for a revenue share of over 36.2%.
4. Which region is dominating the Smart Container market?Asia Pacific is dominating the Smart Container market with more than 38.7% market share.
5. Which segment holds the largest market share of the Smart Container market?The hardware segment based on component type holds the maximum market share of the Smart Container market.
Need help to buy this report?