Smart Container Market Growth & Forecast

Market Insights

The Smart Container Market size was valued at US$ 3.65 Billion in 2021 and is expected to reach US$ 11.14 Billion by 2028, registering a CAGR of 17.07% during the forecast period of 2022 to 2028.

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What is Smart Container?

Smart container is a device which aids in tracing and tracking products among stakeholders with the electronic product code information services, supply chain, and RFID technologies and provides monitoring, real-time tracking facilitating drivers to increase rotation time of their package equipment and improve utilization percentages.

Smart containers are the containers that facilitate transportation of goods via both seaborne and land modes of transport, which may include the use of trucks, rails, and ships, eliminating the necessity for reloading and unloading at standard features. They are used in a wide array of industries and have always been the crux of the shipping industry.

Market Drivers

The key driving factors contributing to the demand for smart containers are –

• The surge in adoption of IoT connected devices by major shipping companies.
• Growing concerns regarding wastage of food and medical products due to temperature deviation.

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Key Players

Some of the major players in the market are-

• Orbcomm
• Smart Containers Group AG
• Traxens
• Globe Tracker
• Nexiot AG
• Phillips Connect Technologies (Division of Phillips Industries)
• Sealand (Division of Maersk Group)
• Robert Bosch Manufacturing Solutions (Robert Bosch GmbH)
• Ambrosus
• Zillionsource Technologies Co., Ltd. (CISCO).

Segments Analysis

By Offering Type

The Hardware segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period.

The market is segmented as hardware, software, and service. The wide use of a variety of differently priced hardware components for monitoring and tracking applications is driving the growth of this segment. A number of sensors and various other hardware components are required for efficacious network monitoring in smart container solutions.

By Technology Type

The Long-range Wide Area Network segment is expected to grow at the highest rate in the market during the forecast period.

The smart container market is segmented as food, construction, filtration, and others. This segment is driving the market due to its superior properties as compared to other technologies such as Bluetooth low energy and Wi-Fi. Due to its high bandwidth capability, LoRa WAN offers a wide range of communication. Its in-depth indoor penetration feature helps to repress problems occurring in cases where most of the signals would be reflected from the surface of a container. This property also provides access to sensors monitoring the assets inside the container.

By Region

Europe is estimated to be the largest market in 2021 and is expected to grow at healthy CAGR during the forecast period, with China, Japan, India, and Australia being the major countries with lucrative growth opportunities.

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This growth can be attributed to the presence of major shipping companies in Europe, which demand for smart shipping container solutions. European ship-owners control over 40% of the world's merchant fleet and operate shipping services across the globe, according to the European Community Shipowners’ Associations (ECSA). According to the United Nations Conference on Trade and Development (UNCTAD), Europe is the second-largest region, in terms of container port volumes, accounting for 16% share of the total world container port volumes, in 2017. North America and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.

The market is segmented into the following categories. 

By Offering Type

• Hardware
  • Regional Analysis - North America, Europe, Asia-Pacific, and RoW
  • Offering Type Analysis - Sensors, Connectivity Devices, and Telematics and Telemetry Devices

• Software
• Service

By Technology Type

• Global Positioning System
• Cellular
• Long Range Wide Area Network
• Bluetooth Low Energy
• Others

By Vertical Type

• Food & Beverages
• Pharmaceutical
• Oil & Gas
• Chemicals
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

The following are the key features of the report:

• Overview, industry life cycle analysis, supply chain analysis.
• Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Trend and forecast analysis.
• Segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, Technology launches, etc.
• Attractive segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. 

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. 

We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Target Audience

The following is a list of the customers that the market aims to convert the most:

• Manufacturers
• Suppliers
• Distributors
• Organizations
• Government bodies

Customization Option

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: 

Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.