The Insight Partners

According to the new research report published by The Insight Partners, titled “Smart Container Market – Global Analysis and Forecast to 2027″, the global smart container market is expected to reach US$ 11.29 Bn in 2027, registering a CAGR of 20.8% during the forecast period 2019-2027.

Strategic Insights        

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Automotive, agriculture, food & beverage, consumer electronics, oil & gas, healthcare, and chemicals, among others, are some of the major users of smart containers globally. Domestic and overseas trade of goods such as consumer goods, oil, food items, drugs & medicines, and many more owing to rising customers demand from diversified industries. In the food industry, demand for processed, semi-processed, frozen, and organic food products is high globally. In pharmaceutical, the transportation of drugs is increasing owing to initiatives regarding drug discovery. Similarly, in the oil & gas industry, the trade business of oil is on an increase across the world.

With rising global trade and complexities in the supply ecosystem, the need for the advanced smart container is rising. Demand for connected, modular, and flexible would assist in enhancing the process efficiency and will facilitate shipment visibility and monitoring. With escalating city delivery volumes, the smaller containers and innovative packaging have the potential to standardize urban logistics. Improved materials, advancement in automation aid the development and commercialization of efficient & sustainable supply chains. The application of next-generation IoT solutions in packaging will transform visibility, traceability, and security.

Impact of COVID-19 Pandemic on Smart Container Market

The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on ‘Smart Container Market’ provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also showcase market trends and forecast to 2028, factoring the impact of Covid -19 Situation.

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Increasing Demand for Perishable Food Bolstering the Smart Container Market Growth

The end-user industry of smart containers is highly diverse, ranging from pharmaceuticals, food & beverage, agricultural goods, chemicals, and even fresh flowers, among others. The smart container helps in managing the entire shipment and delivery process of goods through connectivity, cloud computing traceability, monitoring, and smart sensors. The food & beverage and consumer products manufacturers are seeking forward to leverage innovation to boost the service level to trading partners and consumers. With a unique combination of IoT with regular transportations services, the entire food & beverage industry is gaining tremendous momentum.

Smart Container: Technology Based Market Insights

The various technologies used are GPS, cellular, long range wide area network, Bluetooth low energy (BLE), among others. The factors including the need for end-to-end visibility, cargo care, pre-trip inspections, and crew safety have heightened the demand for various technologies in the smart container systems.

Smart Container Market: Competitive Landscape and Key Developments

Ambrosus, Zillionsource Technologies, Smart Containers Group AG, Globe Tracker, APS, Nexxoit AG, Orbcomm, Hapag-Lloyd, Philips Connect Technologies, Traxens, and A.P. Møller – Mærsk A/S are among the key players in the global Smart Container market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

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In 2020, Traxens announced that it would open a representative office in Shenzhen, China – its first office outside of France – to respond to the increasing need for more Asian exposure and local support for its global customers, In line with its international expansion strategy.

In 2019, Phillips Connect Technologies acquired Connected Holdings, LLC which is an industry-leading IoT intelligent services provider located in North America. This acquisition supported the company to introduce transformational advancements to transportation.

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