March 6, 2020

Smart Shipping Containers: Avoiding Damage, Loss and Theft

Image Source : researchgate

The smart container market was valued at US$ 2.14 Bn in 2018 and is expected to grow at a CAGR of 20.8% from 2019 to 2027 to reach US$ 11.29 Bn by 2027.

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. The GPS segment led the smart container market, by technology in 2018.

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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.

The rising population in regions such as Africa, Eastern Europe, and Latin America; the demand for fresh vegetables, fruits, and other perishable commodities has also increased. These regions offer a potential opportunity for smart reefer container businesses. With the growing spending capacity of the people in these regions, the demand for better quality food has also increased. The US Food and Agriculture Organization (FAO) has anticipated the requirement of food production to grow by ~70 % by 2050, owing to the continuous increase in the global population. With the projected global population of 9.2 Bn by 2050, the need for essential food transport facilities will also increase.

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Strategic Insights

Market initiative strategy is commonly adopted by companies to expand their footprint worldwide and meet the growing demand. Some of the strategies observed in various regions include:

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.

2019: Hapag-Lloyd placed a record order for the refrigerated containers. Production of 970 20-foot and12, 450 40-foot containers is scheduled to commence as early as July. The resulting customer products would be marketed under the name Hapag-Lloyd LIVE.

Top Players Overview: Ambrosus,Zillionsource Technologies,Smart Containers Group AG,Globe Tracker, APS,Nexxoit AG,Orbcomm,Hapag-Lloyd,Philips Connect Technologies,Traxens,A.P. Møller – Mærsk A/S