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Redding, California - June 14, 2024

Smart Containers Market to be Worth $16.9 Billion by 2030

Smart Containers Market by Offering (Hardware, Software, Services), Type (Reefer, Dry), Size (20, 40), Technology (AI, Blockchain, IoT), Application (Asset Tracking & Management, Supply Chain Optimization), Sector, and Geography—Global Forecast to 2030

Meticulous Research^®—a leading global market research company, published a research report titled, ‘Smart Containers Market by Offering (Hardware, Software, Services), Type (Reefer, Dry), Size (20, 40), Technology (AI, Blockchain, IoT), Application (Asset Tracking & Management, Supply Chain Optimization), Sector, and Geography - Global Forecast to 2030.’

According to this latest publication from Meticulous Research^®, the global smart containers market is projected to reach $16.9 billion by 2030, at a CAGR of 20.1% from 2024 to 2030. The growth of this market is driven by the growing focus on optimizing logistics and reducing costs, the rising need for enhanced supply chain visibility and transparency, and growing concerns over cargo security and counterfeiting. Additionally, the growing adoption of cloud-based platforms for smart container management and the increasing applications of smart container technologies in healthcare and agriculture sectors are expected to create market growth opportunities. However, the high implementation cost of smart container technologies restrains the growth of this market. The infrastructure and connectivity issues in remote locations are major challenges for the players operating in this market.

Integrating advanced technologies such as blockchain and AI into smart container solutions is a prominent trend in the market.

The global smart containers market is segmented by offering, type, size, technology, application, and sector. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Based on offering, the global smart containers market is broadly segmented into hardware, software, and services. In 2024, the software segment is expected to account for the largest share of the global smart containers market. The large market share of this segment is attributed to the increasing demand for data analytics and insights to enhance efficiency and improve decision-making, the growing use of cloud-based platforms and connectivity for data storage, processing, and accessibility, and the increasing need to manage and process vast amounts of data transmitted by IoT devices within smart containers. This segment is also projected to register the highest CAGR during the forecast period.

Based on type, the global smart containers market is broadly segmented into reefer containers, dry containers, tank containers, and other smart container types. In 2024, the dry containers segment is expected to account for the largest share of the global smart containers market. The large market share of this segment is attributed to the growth of the e-commerce sector, increasing demand for general cargo transportation, including consumer goods, electronics, textiles, and non-perishable items for industries such as automotive, retail, and manufacturing, and the growing need for easy integration with existing logistics and supply chain networks.

However, the reefer containers segment is projected to register the highest CAGR during the forecast period due to the increasing need to maintain product quality and freshness throughout the supply chain, the growing demand for transporting temperature-sensitive goods such as perishable food items, pharmaceuticals, and chemicals, increasing investments in cold chain infrastructure and logistics, and advancements in refrigeration technology and temperature monitoring systems.

Based on size, the global smart containers market is broadly segmented into 20-foot containers and 40-foot containers. In 2024, the 40-foot containers segment is expected to account for the largest share of the global smart containers market. The large market share of this segment is attributed to the growing need to ship goods from manufacturers and suppliers to distribution centers and retail stores, the increasing need to transport a wide range of general cargo, including consumer goods, electronics, textiles, machinery, and industrial products, and increasing use for transporting automobiles, motorcycles, and other vehicles. This segment is also projected to register the highest CAGR during the forecast period.

Based on technology, the global smart containers market is broadly segmented into artificial intelligence, blockchain, cloud computing, internet of things (IoT), geolocation technology, and connectivity technology. In 2024, the internet of things (IoT) technology segment is expected to account for the largest share of the global smart containers market. The large market share of this segment is attributed to the increasing need for real-time container monitoring to monitor the performance and health of container systems, the rising need to ensure the integrity & security of the cargo during transportation, and the growing demand for remote tracking and asset management.

However, the blockchain technology segment is projected to register the highest CAGR during the forecast period due to the increasing need for enhanced traceability and visibility of goods, including the loading, transportation, and unloading of containers, growing need for smart contracts to automate and streamline the contractual agreements and transactions, and increasing need to ensure the integrity and authenticity of container-related documents including bills of lading, certificates of origin, and customs documents.

Based on application, the global smart containers market is broadly segmented into asset tracking & management, supply chain optimization, safety & security, and other applications. In 2024, the asset tracking & management segment is expected to account for the largest share of the global smart containers market. The large market share of this segment is attributed to the increasing demand for real-time visibility into the location, status, and condition of container assets throughout the supply chain, the increasing need to reduce costs associated with container loss, theft, or misplacement, and growing need to streamline operational processes.

However, the supply chain optimization segment is projected to register the highest CAGR during the forecast period due to the increasing need to identify bottlenecks, optimize inventory levels and transportation routes, streamline logistics operations, minimize transit times, reduce idle container time at ports or warehouses, and improve overall supply chain efficiency.

Based on sector, the global smart containers market is broadly segmented into pharmaceutical & healthcare, food & beverage, chemicals & hazardous materials, retail & e-commerce, oil & gas, automotive, agriculture, and other sectors. In 2024, the retail & e-commerce sector is expected to account for the largest share of the global smart containers market. The large market share of this segment is attributed to the increasing need to enable real-time tracking and monitoring of container goods, transparency and traceability of shipments throughout the supply chain, and the growing need to minimize delivery delays, order inaccuracies, and loss of packages.

However, the food & beverage sector is projected to register the highest CAGR during the forecast period due to the increasing use of smart containers to enable better inventory management, accurate tracking of product shelf life, maintain the quality, freshness, and safety of perishable goods during transportation, and increasing need to ensure optimal storage conditions for sensitive food & beverage products.

Based on geography, the global smart containers market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of the global smart containers market, followed by Europe and North America. The large market share of Asia-Pacific is mainly attributed to the strong presence of industries such as electronics, automotive, and consumer goods, the region's commitment to green logistics and eco-friendly operations, increasing use of smart containers for real-time tracking, optimizing logistics operations and improving supply chain visibility, stringent regulatory requirements in pharmaceuticals and food & beverage for traceability and compliance. The region is also projected to register the highest CAGR during the forecast period.

Key Players:

The key players operating in the smart containers market include Panasonic Industry Co., Ltd. (Japan), CMA CGM Group (France), ORBCOMM (U.S.), TRAXENS (France), Globe Tracker, ApS (Denmark), Emerson Electric Co. (U.S.), ZIM Integrated Shipping Services Ltd. (Israel), MSC Mediterranean Shipping Company S.A (Switzerland), Sealand - A Maersk Company (U.S.), China International Marine Containers (Group) Co., Ltd. (China), Berlinger & Co. AG (Switzerland), Hapag-Lloyd AG (Germany), Ocean Network Express Pte. Ltd. (Singapore), Nexxiot AG (Switzerland), Thinxtra Ltd (Australia), SAVVY Telematic Systems AG (Switzerland), Sensolus (Belgium), ZillionSource Technologies (U.S.), and SkyCell AG (Switzerland).

Download Free Sample PDF Copy Here: https://www.meticulousresearch.com/download-sample-report/cp_id=5517

Key questions answered in the report-

Which are the high-growth market segments based on offering, type, size, technology, application, sector, and geography?
What was the historical market for smart containers market?
What are the market forecasts and estimates for the period 2024–2030?
What are the major drivers, restraints, opportunities, challenges, and trends in the smart containers market?
Who are the major players, and what shares do they hold in the smart containers market?
How is the competitive landscape in the smart containers market?
What are the recent developments in the smart containers market?
What are the different strategies adopted by the major players in the smart containers market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the global smart containers market, and how do they compete with the other players?

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Redding, California - June 14, 2024

Smart Containers Market to be Worth $16.9 Billion by 2030

Smart Containers Market by Offering (Hardware, Software, Services), Type (Reefer, Dry), Size (20, 40), Technology (AI, Blockchain, IoT), Application (Asset Tracking & Management, Supply Chain Optimization), Sector, and Geography—Global Forecast to 2030

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