How Smart Containers Make Container Logistics Smart

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.

The e-commerce industry is growing in popularity. With such high internet penetration and growing demand for convenience, consumers are increasingly ordering groceries and other food products online. Services such as Amazon Fresh are growing in number, allowing consumers to shop for fresh produce without leaving the house. Subscription services are another popular fad, with everything from snacks to specialty products to meal kits that come with everything needed to cook a meal from scratch. The need to have smart containers in business trade is more to ensure the proper delivery of goods at the customer’s location. The smart containers exhibit features of humidity variations, movement & status, shock detection, door opening, and geofencing capabilities.

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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.

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.

North America is the prominent region in the location intelligence market. On the other hand, Asia Pacific is anticipated to be the fastest-growing region in terms of CAGR during the forecast period from 2019 - 2027. Based on industry vertical, food & beverage holds the highest market share in 2018, whereas, the pharmaceutical is anticipated to be the fastest-growing industry vertical in the smart container market.

The smart container market operates in a fragmented ecosystem. The market players from location intelligence are anticipated to lucrative growth opportunities in the future with the rising demand for location intelligence in the global market. Some of the key players operating in the smart container market include 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 among others.

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Source: The Insight Partners