Smart Container Market

Smart Container Market by Offering (Hardware, Software, Services), Vertical (Food & Beverages, Chemicals, Oil & Gas, Pharmaceuticals), Technology (GPS, Cellular, Bluetooth Low Energy, LoRaWAN) and Region - Global Forecast to 2027

Report Code: SE 7466 Nov, 2022, by marketsandmarkets.com

[210 Pages Report] The smart container market is projected to grow from USD 3.9 billion in 2022 to USD 9.7 billion by 2027, CAGR of 19.6% during the forecast period.

Increasing focus on end-to-end supply chain visibility, high demand for monitoring and control of internal container conditions, and increasing adoption of IoT devices by shipping companies are the key factors expected to boost the growth of the smart container market in the next five years. However, the lack of interoperability among IoT devices and sensors is expected to be the key challenge for the growth of the market. Increasing adoption of GPS technology to improve tracking and visibility throughout the supply chain has led to higher demand for smart containers.

The objective of the report is to define, describe, and forecast the smart container market based on offering, technology, vertical, and region.

Smart Container Market

Smart Container Market Forecast to 2027

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Smart Container Market Dynamics

Drivers: Increasing adoption of IoT devices by shipping companies

The sea is one of the major modes of transportation. As there is increasing technology adoption across the logistics industry with the emergence of smart logistics, several major logistics shipping companies are implementing IoT devices. IoT devices offer several advantages to these logistics companies. These devices offer benefits such as reliable vehicle tracking, cost reductions, improved supply chain planning and visibility, higher product safety, and improved transportation conditions. Currently, AP Moller-Maersk, MSA, Nippon Express, and Hapag-Lloyd are among the major shipping companies that have implemented IoT devices for logistics operations.

IoT devices used for smart containers include various sensors such as motion detection sensors, vibration sensors, temperature sensors, humidity sensors, and network gateways that improve the connectivity of smart containers. Shipping companies are increasingly implementing these devices for monitoring product conditions, checking container environments, and detecting vessel locations. Furthermore, IoT devices help to enhance the capabilities of shipping companies by offering visibility across the supply chain. The providers of shipping containers benefit from the implementation of IoT devices by making efficient use of transport infrastructure.

Restraints: Shipping industry ill-prepared for cyber threats

The shipping industry has a high risk of cyber-attacks. This is majorly due to the lack of awareness and tools implemented within the shipping industry against such digital threats. The world’s largest shipping companies have suffered cyber-attacks. APM-Maersk suffers a ransomware attack in 2017, COSCO was targeted by a ransomware attack in 2018, and MSC was attacked by malware in 2020. As the shipping industry continues to flourish, it remains a major target for such attacks. It is observed that the industry is not well prepared for the increasing cyber-attacks. In addition, smart containers are continuously connected to the cloud and complex networks of satellites through various sensors to send and receive data. As there are several sensors and devices attached to the smart containers, there is a high risk of cyber-attack and theft of sensitive data. The presence of a large number of connected devices in smart containers makes it easier for security breaches when the industry is ill-prepared. As a result, cyber security threats are viewed as a top restraint to the market’s growth.

Opportunities: Emergence of advanced technologies

There are rapid technological advancements in various fields. These technologies, such as IoT, connectivity, communication, AI, and big data analysis, also support various functions within the smart container market. For instance, communication technologies such as LoRaWan, LPWAN, and cellular communication technology (5G) have enabled long-distance communication to facilitate near real-time monitoring and control in smart containers. With the help of smart sensors, IoT devices are able to share data efficiently and process data faster. Similarly, the implementation of big data and AI has enabled superior predictions of estimated times of delivery, incidents, and delays through advanced data analysis, offering insights into every aspect of smart containers. It is expected that the new technologies will create significant opportunities and use cases for smart containers to enable market expansion.

Challenges: Lack of interoperability among IoT devices and sensors

The smart container market is rapidly growing with advancements in technology. Many players offer hardware, software, and services based on different technologies in the smart container market. Companies are offering connectivity and communication through Bluetooth Low Energy (BLE), Wi-Fi, LoRaWAN, Cellular, and Zigbee, among others. As there are various devices with different communication technologies, discrepancies in interoperability may result in inefficiencies and a lack of monitoring and control. It is observed that devices manufactured by different players are not able to integrate within a system. There is limited connectivity between different transport protocols such as Ethernet, Wi-Fi, and Zigbee. Additionally, a large number of players in the smart container market are offering proprietary IoT platforms for their devices and sensors. The lack of set rules or standards at the application level also causes an inability to combine and complement the collected data from different sensors and devices.

Such gaps in communication among a large number of IoT devices can also lead to the failure of operations as simple as end-to-end location tracking. The current inability of connected devices to effectively communicate immediately when deployed slows the adoption of connected devices, increases costs, and limits the value of many IoT uses for smart containers.

Hardware segment to hold largest market share in Europe

Demand for the hardware segment is estimated to be highest in Europe due to the large number of companies offering IoT hardware in the region. Companies such as Nexxiot AG (Switzerland), SkyCell AG (Switzerland), Traxens (France), SAVVY Telematic Systems AG (Switzerland), and Sensolus (Germany) offer several hardware solutions in the smart container market. The presence of such players is estimated to grow further as the market witnesses growth opportunities in the forecasted period. The European region observes a higher push for technology adoption in the logistics industry, driving the demand for smart containers. Germany and the UK are the largest countries implementing IoT technology in Europe. As these countries are also among the major logistic hubs in the European region, they support the growth of the smart container market.

Food and beverages vertical to grow at the highest rate in Asia Pacific

The Asia Pacific region is the largest importer in the food and beverages industry. Additionally, there are a few countries that export several commodities in the food and beverage industry. Traditionally, the food and beverage industry suffers from major logistical challenges such as poor supply chain visibility, inefficient inventory management, inaccurate delivery scheduling, and growing regulatory challenges, among others. But as the adoption of technologies such as IoT, AI, cellular, and GPS is increasing, the support for smart containers is increasing in the region. Countries such as China, Japan, and South Korea are expected to emerge as the major adopters of smart containers in the region. These countries are also among the major importers in the food and beverages industry and, thus, the focus on improving the food and beverage shipping industry is higher in the region.

GPS has the largest share in smart container market

GPS technology plays a key role in tracking and monitoring container movement across the globe. It is one of the key sensors installed in containers. With the advent of technology, shipping container GPS trackers that operate on satellite platforms are being implemented to generate the real-time location of the shipping container at short intervals. A large number of companies offer GPS tracking technology through different hardware, and software solutions are emerging in the market. There are various benefits of GPS technology to the shipping industry, such as improved security through geofencing solutions that help reduce the risk of theft and damages and increase the probability of recovering lost containers; automation of procedures through improved communication with asset management software; and higher cost efficiency, resulting from the automation of processes such as inventory reporting and notification of ETA. As GPS technology plays a vital role in improving the safety, reliability, visibility, and cost efficiency of the shipping industry, the implementation of this technology is the highest in the smart container market.

Smart container market in Asia Pacific to grow at highest rate

Asia Pacific is expected to be the largest container shipping market globally due to China’s dominance in container manufacturing. China has emerged as the largest manufacturer of shipping containers with approximately 85% of containers manufactured in China. Some of the largest container manufacturing companies in China are China International Marine Container Group Co., Ltd. (CIMC), China COSCO Shipping Corporation Limited, and CXIC Group Containers Co., Ltd. The increasing adoption of several technologies such as AI, cloud computing, IoT, smart sensors, blockchain, and big data in the Asia Pacific region has created a great opportunity for the smart container market to grow. The increasing demand for services such as end-to-end visibility in the supply chain, fleet optimization, and asset tracking also led to the growth of the smart container market in the Asia Pacific region.

Smart Container Market by Region

Smart Container Market by Region

To know about the assumptions considered for the study, download the pdf brochure

Key Market Players

Major players in the smart container market include MSC (Switzerland), Sealand – A Maersk Company (US), Globe Tracker (Denmark), Traxens (France), ORBCOMM (US), Shenzhen CIMC Technologies Co., Ltd. (China), and Berlinger & Co. AG (Switzerland).

Smart Container Market Report Scope:

Report Metric

Details

 Market Size Value in 2022  USD 3.9 Billion
 Revenue Forecast in 2027  USD 9.7 Billion
 Growth Rate  19.6%

Market Size Available for Years

2018–2027

Base Year

2021

Forecast Period

2022–2027

Units

Value (USD Million/USD Billion)

Segments Covered

  • Offering,
  • Technology,
  • Vertical, and
  • Region

Geographic Regions Covered

  • North America,
  • Europe,
  • Asia Pacific, and
  • RoW

Companies Covered

  • ORBCOMM Inc. (US),
  • SkyCell AG (Switzerland),
  • Traxens (France),
  • Phillips connect (US),
  • Globe Tracker (Denmark),
  • Nexxiot AG (Switzerland),
  • Sealand – A Maersk Company (US),
  • MSC (Switzerland),
  • Ambrosus AG (Switzerland),
  • ZillionSource (US),
  • Berlinger & Co. AG (Switzerland), and
  • Shenzhen CIMC Technology Co., Ltd. (China).
    A total of 25 players are profiled in the report.

Smart Container Market Highlights

This report categorizes the smart container market based on offering, technology, vertical, and region.

Aspect

Details

Smart container Market, By Offering

    • Introduction
    • Hardware
    • software
    • Services

Smart container Market, By Technology

    • Introduction
    • Global Positioning System (GPS)
    • Cellular
    • LoRa Wan (Long Range Wide Area Network)
    • Bluetooth Low Energy (BLE)

Smart container Market, By Vertical

    • Introduction
    • Food & Beverages
    • Pharmaceuticals
    • Oil & GAS
    • Chemicals
    • Others

Smart container MARKET, BY Region

    • North America
      • US
      • Canada
      • Mexico
    • Europe
      • UK
      • Germany
      • France
      • Italy
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Rest of Asia Pacific
    • Rest of the World
      • South America
      • Middle East & Africa

Recent Developments

  • In March 2022, ORBCOMM Inc. launched the CT 3500 IoT telematics device for smart management of refrigerated containers and their cargoes, enabling end-to-end, remote visibility and control of containerized assets and shipments on land, rail, and sea. This data-driven refrigerated container solution by ORBCOMM Inc. features enhanced functionality, connectivity options, analytics capabilities, and interoperability with third-party telematics devices. CT 3500 provides customers with remote, two-way control of reefers to monitor critical parameters such as temperature, humidity, control atmosphere settings, and cold treatment from a centralized location.
  • In March 2022, Phillips Connect introduced three new smart nosebox GPS gateways during a press conference held in conjunction with the TMC ’22 Annual Meeting and Transportation Technology Exhibition. Retrofittable or specified on new equipment, the new Phillips Connect Smart noseboxes transform trailers into managed assets that provide telematics benefits. The Smart S7 Swiveling Nosebox, Smart Q-Box, and Smart iBox are advanced cellular gateways, GPS trackers, and sensor hubs that deliver trailer location, status, and critical trailer conditions to the cloud. All are equipped with a Phillips Quick-Change-Socket (QCS2) Sta-Dry seven-way connection requiring no additional harnessing or electrical connections.
  • In April 2022, Nexxiot AG launched Nexxiot Cargo Monitor, a new sensor device that delivers real-time visibility of the location, status, and condition of shipments around the world. The Internet of Things (IoT) device, which is simply attached to the cargo within the shipping container, can be used to monitor the transportation of high-value and sensitive products, such as perishables, pharmaceuticals, textiles, conditions-sensitive industrial products, and electronics.
  • In February 2022, Traxens acquired NEXT4, a French supplier of removable and reusable shipping container trackers, for an undisclosed amount. The two companies will combine efforts to develop and market their highly complementary tracking solutions and their software applications to offer the best of their functionalities to their customers, e.g. shipment scheduling, collaborative risk management, and analysis reports.

Key Questions Addressed by the Report

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TABLE OF CONTENTS

1 INTRODUCTION
    1.1. STUDY OBJECTIVES
    1.2. MARKET DEFINITION & SCOPE
    1.3. STUDY SCOPE
    1.4. CURRENCY CONSIDERED
    1.5. LIMITATIONS
    1.6. STAKEHOLDERS
    1.7. SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY
    2.1. RESEARCH DATA
           2.1.1. SECONDARY AND PRIMARY RESEARCH
           2.1.2. SECONDARY DATA
           2.1.3. PRIMARY DATA
    2.2. MARKET SIZE ESTIMATION
           2.2.1. BOTTOM-UP APPROACH
           2.2.2. TOP-DOWN APPROACH
    2.3. MARKET BREAKDOWN AND DATA TRIANGULATION
    2.4. RESEARCH ASSUMPTIONS
    2.5. RISK ASSESSMENT

3 EXECUTIVE SUMMARY

4 PREMIUM INSIGHTS

5 MARKET OVERVIEW
    5.1. INTRODUCTION
    5.2. MARKET DYNAMICS
           5.2.1. DRIVERS
           5.2.2. RESTRAINTS
           5.2.3. OPPORTUNITIES
           5.2.4. CHALLENGES
    5.3. VALUE CHAIN
    5.4. ECOSYSTEM
    5.5. PRICING ANALYSIS
           5.5.1. AVERAGE SELLING PRICES OF KEY PLAYERS, BY APPLICATION
           5.5.2. AVERAGE SELLING PRICE TREND
    5.6. TRENDS ANALYSIS
    5.7. REVENUE SHIFT AND NEW REVENUE POCKETS
    5.8. TECHNOLOGY ANALYSIS
    5.9. PORTERS FIVE FORCES ANALYSIS
           5.9.1. THREAT OF NEW ENTRANTS
           5.9.2. THREAT OF SUBSTITUTES
           5.9.3. BARGAINING POWER OF SUPPLIERS
           5.9.4. BARGAINING POWER OF BUYERS
           5.9.5. INTENSITY OF COMPETITIVE RIVALRY
    5.10. KEY STAKEHOLDER AND BUYING CRITERIA
           5.10.1. KEY STAKEHOLDERS IN BUYING PROCESS
           5.10.2. BUYING CRITERIA
    5.11. CASE STUDY
    5.12. TRADE ANALYSIS
    5.13. PATENT ANALYSIS
    5.14. KEY CONFERENCE AND EVENTS
    5.15. TARIFFS AND REGULATORY LANDSCAPE 
           5.15.1. REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS

6 SMART CONTAINER MARKET, BY OFFERING
    6.1. INTRODUCTION
    6.2. HARDWARE
           6.2.1. SENSORS
                    6.2.1.1. TEMPERATURE SENSOR
                    6.2.1.2. HUMIDITY SENSOR
                    6.2.1.3. GAS SENSOR
                    6.2.1.4. PRESSURE SENSOR
                    6.2.1.5. OTHER SENSORS
           6.2.2. CONNECTIVITY DEVICES
           6.2.3. TELEMATICS AND TELEMETRY DEVICES
    6.3. SOFTWARE
    6.4. SERVICES

7 SMART CONTAINER MARKET, BY TECHNOLOGY
    7.1. INTRODUCTION
    7.2. GLOBAL POSITIONING SYSTEM (GPS)
    7.3. CELLULAR
    7.4. LORA WAN (LONG RANGE WIDE AREA NETWORK)
    7.5. BLUETOOTH LOW ENERGY (BLE)
    7.6. OTHERS

8 SMART CONTAINER MARKET, BY VERTICAL
    8.1. INTRODUCTION
    8.2. FOOD & BEVERAGE
    8.3. PHARMACEUTICALS
    8.4. OIL & GAS
    8.5. CHEMICALS
    8.6. OTHERS

9 SMART CONTAINER MARKET, BY REGION
    9.1. INTRODUCTION 
    9.2. NORTH AMERICA
           9.2.1. US
           9.2.2. CANADA
           9.2.3. MEXICO
    9.3. EUROPE
           9.3.1. UK
           9.3.2. GERMANY
           9.3.3. FRANCE
           9.3.4. ITALY
           9.3.5. REST OF EUROPE
    9.4. ASIA PACIFIC
           9.4.1. CHINA
           9.4.2. JAPAN
           9.4.3. INDIA
           9.4.4. SOUTH KOREA
           9.4.5. REST OF ASIA PACIFIC
    9.5. REST OF THE WORLD
           9.5.1. SOUTH AMERICA
           9.5.2. MIDDLE EAST & AFRICA

10 COMPETITIVE LANDSCAPE
     10.1. INTRODUCTION
     10.2. MARKET SHARE ANALYSIS, 2021
     10.3. COMPANY REVENUE ANALYSIS OF TOP 5 PLAYERS
     10.4. COMPANY EVALUATION QUADRANT, 2021
             10.4.1. STARS
             10.4.2. EMERGING LEADERS
             10.4.3. PERVASIVE PLAYERS
             10.4.4. PARTICIPANTS
     10.5. STARTUP/SME EVALUATION MATRIX, 2021
             10.5.1. PROGRESSIVE COMPANIES
             10.5.2. RESPONSIVE COMPANIES
             10.5.3. DYNAMIC COMPANIES
             10.5.4. STARTING BLOCK
     10.6. COMPETITIVE BENCHMARKING
     10.7. COMPANY FOOTPRINT
     10.8. COMPETITIVE SITUATION AND TRENDS

11 COMPANY PROFILES
     11.1. INTRODUCTION
     11.2. KEY PLAYERS
(BUSINESS OVERVIEW, PRODUCTS OFFERED, RECENT DEVELOPMENTS, SWOT ANALYSIS, AND MNM VIEW)*
             11.2.1. ORBCOMM
             11.2.2. SKYCELL AG
             11.2.3. TRAXENS
             11.2.4. PHILLIPS CONNECT
             11.2.5. GLOBE TRACKER
             11.2.6. NEXXIOT
             11.2.7. SEALAND - A MAERSK COMPANY
             11.2.8. MSC
             11.2.9. AMBROSUS
             11.2.10. ZILLIONSOURCE TECHNOLOGIES
             11.2.11. BERLINGER & CO. AG
             11.2.12. CIMC
     11.3. OTHER PLAYERS
             11.3.1. LOGINNO
             11.3.2. SAVVY TELEMATIC SYSTEMS AG
             11.3.3. SENSOLUS
             11.3.4. SECURESYSTEM
             11.3.5. IBM
             11.3.6. EMERSON
             11.3.7. SENSITECH INC.
             11.3.8. ARVIEM AG
             11.3.9. AKUA
             11.3.10. MONNIT
             11.3.11. HYPERTHINGS
             11.3.12. PURFRESH TRANSPORT
             11.3.13. AELER TECHNOLOGIES

12 ADJACENT AND RELATED MARKET

13 APPENDIX
Note: The above-mentioned table of content is tentative, and we may change the content as we proceed with research.  

The research process for this study included the systematic gathering, recording, and analysis of data about customers and companies operating in the smart container market. This research study involved the extensive use of secondary sources, directories, and databases (Factiva, OANDA, and OneSource) for identifying and collecting valuable information for this comprehensive, technical, market-oriented, and commercial study of the smart container market. In-depth interviews were conducted with various primary respondents, including experts from core and related industries and preferred manufacturers, to obtain and verify critical qualitative and quantitative information and assess growth prospects. Key players in the smart container market were identified through secondary research, and their market rankings were determined through primary and secondary research. This research included studying annual reports of top players and interviewing key industry experts, such as CEOs, directors, and marketing executives.

In the primary research process, various key correspondents from the supply and demand sides were interviewed to obtain qualitative and quantitative information relevant to this report. Primary sources from the supply side included CEOs, vice presidents, marketing directors, business development executives, end users, and related executives from various key companies and organizations operating in the smart container market.

Process flow of market size Estimation

Smart Container Market Size, and Estimation

Secondary Research

In the secondary research, various sources were referred to for identifying and collecting information important for this study. Secondary sources included corporate filings, such as annual reports, investor presentations, and financial statements; trade, business, and professional associations; white papers, smart container products-related journals, and certified publications; articles by recognized authors; directories; and databases.

Secondary research was conducted to obtain key information about the industry supply chain, market value chain, the total pool of key players, market classification and segmentation based on industry trends to the bottom-most level, geographic markets, and key developments from the market- and technology-oriented perspectives. Data from secondary research was collected and analyzed to determine the overall market size, which was further validated by primary research.

Primary Research

In the primary research process, various sources from the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. Primary sources from the supply side included industry experts, such as CEOs, VPs, marketing directors, technology and innovation directors, and key executives from major companies and organizations operating in the smart container market.

After going through the entire market engineering (which includes calculations for market statistics, market breakdown, market size estimations, market forecasting, and data triangulation), extensive primary research was conducted to gather information and verify and validate the critical numbers obtained. Primary research was conducted to identify segmentation types, industry trends, key players, competitive landscape, and key market dynamics such as drivers, restraints, opportunities, and challenges, along with the key strategies adopted by players operating in the market.

Smart Container Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

In the complete market engineering process, both top-down and bottom-up approaches were used, along with several data triangulation methods, to estimate and forecast the size of the market and its segments and subsegments listed in the report. Extensive qualitative and quantitative analyses were carried out on the complete market engineering process to list the key information/insights pertaining to the smart container market.

The key players in the market were identified through secondary research, and their rankings in the respective regions were determined through primary and secondary research. This entire procedure involved the study of the annual and financial reports of top players, as well as interviews with industry experts, such as chief executive officers, vice presidents, directors, and marketing executives, for both quantitative and qualitative insights. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data was consolidated and enhanced with detailed inputs and analysis from MarketsandMarkets and presented in this report.

Smart Container Market: Bottom-up Approach

Smart Container Market Size, and Bottom-up Approach

Data Triangulation

After arriving at the overall size of the smart container market from the market size estimation process explained above, the total market was split into several segments and subsegments. Where applicable, the market breakdown and data triangulation procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data was triangulated by studying various factors and trends from both the demand and supply sides. Additionally, the market size was validated using top-down and bottom-up approaches.

Report Objectives

  • To describe and forecast the smart container market, in terms of value, segmented by offering, technology, vertical, and region
  • To forecast the market size, in terms of value, for North America, Europe, Asia Pacific, and the Rest of the World (RoW)
  • To provide detailed information regarding major factors such as drivers, restraints, opportunities, and challenges influencing the market’s growth
  • To provide a comprehensive overview of the value chain of the smart container ecosystem
  • To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the total market
  • To strategically profile the key players and comprehensively analyze their market position in terms of ranking and core competencies, and provide a detailed competitive landscape of the market
  • To analyze major strategies such as collaborations, acquisitions, product launches, and expansions adopted by the key players to enhance their position in the market

Customization Options

With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:

Product Analysis

  • Detailed analysis and profiling of additional market players
Report Code
SE 7466
Published ON
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