Global Smart Container Market Projected to Grow and Reach above USD 7.9 Billion by the End of 2026

11-May-2021 | Facts and Factors

As per the market research report published by Facts and Factors, the global Smart Container market was valued at approximately USD 3.1 Billion in 2020 and is expected to generate revenue of around USD 7.9 Billion by end of 2026, growing at a CAGR of around 17.2% between 2021 and 2026.

Smart Containers are the next step in digitization, with each shipping container communicating with one another via real-time Internet of Things (IoT) technology. Smart containers provide real-time information about the location and state of the shipment to freight forwarders, shipping lines, customers, and customs agents. They will provide you with complete visibility of your cargo 24 hours a day, seven days a week, regardless of the location of the containerized shipment, and will even notify you of any major events that occur en route. Smart containers are becoming so popular that Loginno, an Israel-based company with expertise in logistical innovations, held a competition last year to convert the winner's containers into smart containers, resulting in the establishment of the "World's First Digital Shipping Company." Global supply chains are advocating for greater information system integration, and emerging technologies such as smart containers, blockchains, and IoT are poised to revolutionize the way information is processed in maritime transport, port terminals, port community systems, and administrations.

The use of smart containers will provide endless treasures for shipping companies. When a customer orders an empty smart container for loading, the shipping company will know the distribution of the source of goods, the variety of goods, the volume of goods, and so on. This information, combined with other data, forms very practical business intelligence and first-hand statistical materials that will guide and assist the shipping company’s precision marketing. This data may have had to be manually collected before, but now smart container technology can replace a large part of the workload, reducing labor costs for shipping companies.

The use of smart containers will provide shipping companies with an endless supply of treasures. When a customer orders an empty smart container for loading, the shipping company will know the source of goods, the variety of goods, the volume of goods, and so on. When combined with other data, this information creates very useful business intelligence and first-hand statistical materials that will guide and assist the shipping company's precision marketing. Previously, this data had to be collected manually, but smart container technology can now replace a large portion of the workload, lowering labor costs for shipping companies.

Top Market Players

Major players operative in the global smart container market are Orbcomm, Smart Containers Group AG, Traxens, Sealand (Maersk), Globe Tracker, Nexiot AG, hillips Connect Technologies, robert Bosch, Ambrosus, Zillionsource Technologies Co., Ltd. (CISCO), Securesystem,Emerson, IBM, Sensitech Inc, Loginno, Savvy Telematic Systems AG,  Berlinger & Co., Shenzhen CIMC Technology Co., Ltd., ZIM Integrated Shipping Services, AT&T Inc., Smartsense (Digi International Inc), Sensortransport Inc., Monnit Corporation, Shenzhen Joint Technology Co., Ltd and Identec Solutions AG,   amongst others.

Market Dynamics

The e-commerce industry is becoming increasingly popular. Consumers are increasingly ordering groceries and other food products online, owing to high internet penetration and rising demand for convenience. Services like Amazon Fresh are becoming more popular, allowing customers to shop for fresh produce without leaving their homes. Another popular fad is subscription services, which include everything from snacks to specialty products to meal kits that include everything needed to cook a meal from scratch. The need for smart containers in business trade is growing in order to ensure proper delivery of goods at the customer's location. Humidity variations, movement and status, shock detection, door opening, and geofencing capabilities are all included in the smart containers.

With increased worldwide trade and complications in the supply chain, the demand for advanced smart containers is increasing. Demand for modular, connected and flexible systems will help to improve process efficiency along with shipment visibility and monitoring. Smaller containers and innovative packaging have the potential to standardize urban logistics as city delivery volumes increase. Improved materials and technological advancements aid in the development and commercialization of efficient and sustainable supply chains. The use of advance IoT solutions in packaging will significantly improve visibility, security and traceability.

Report Scope

North America is projected to Dominate Global Smart Container Market Growth

The smart container market is dominated by North America. Asia Pacific, on the other hand, is expected to be the fastest-growing region in terms of CAGR between 2021 and 2027. Food & beverage is expected to have the largest market share in 2020, while pharmaceutical is expected to be the fastest-growing industry vertical in the smart container market. During the analysis period, Europe is anticipated to hold the largest market share for smart container. The growth of Europe smart container market is primarily driven by presence of key market participants, such as CMA CGM, MSC, Maersk, and Hamburg Sud, which have a strong demand for smart shipping container solutions. As per ECSA (European Community Shipowners' Associations), European shipowners control over 40% of the world's merchant fleet and also provide shipping services across the globe.

Browse the full “Smart Container Market By Offering (Hardware, Software, Connectivity Devices, Telematics and Telemetry Devices, and Services), By Technology (GPS, Cellular, BLE, LoRa WAN, and Others), By Vertical (Food & Beverages, Oil & Gas, Pharmaceuticals, Chemicals, and Others), and By Regions – Global Industry Analysis on Growth, Size, Share, Trends, and Forecast, 2020 – 2026”  report at https://www.fnfresearch.com/global-smart-container-market-by-offering-hardware-software

The global smart container market is segmented as follows:

By Offering:

• Hardware
  • Gas Sensors
  • Temperature Sensors
  • Pressure Sensors
  • Humidity Sensors
  • Other Sensors
  • Telematics and Telemetry Devices
  • Connectivity Devices
• Software
• Services

By Technology:

• BLE
• GPS
• LoRa WAN
• Cellular
• Others

By End-user Vertical:

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

By Region:

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC Countries
  • South Africa
  • Rest of Middle East & Africa

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