Smart Shipping Container Market to Cross USD 15,341.5 Million Revenue by 2030: P&S Intelligence

NEW YORK, July 17, 2023 /PRNewswire/ -- According to the latest market research study published by P&S Intelligence, the smart shipping container market will reach USD 15,341.5 million by 2030, advancing at a CAGR of 18.4%.

This development can be credited to the improved security, temperature regulation, and real-time GPS tracking enabled by these containers.

Several metrics, including humidity, temperature, location of the package, and door status, can be monitored via the sensors incorporated into them. Further, the package can be examined remotely via a computer, smartphone, or tablet.

Hence, such intelligent shipping containers are ideal to transport perishable items, such as medical supplies (blood products, tissues and cells, and medication) and food.

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Demand for Hardware Is Higher than Software and Services

The hardware category is dominating the market with an approximately 50% share, and it is also projected to experience the fastest growth. This is because a huge count of sensors are needed to keep an eye on the condition of the goods being transported inside a container on a ship, semi-trailer truck, or flat railway wagon.

Global Positioning System Is Most-Popular Technology

GPS is the most-widely used technology as it enables customers and shippers to keep a track of the whereabouts of their goods while inside a container.

The usage of modern cellular and GPS technology for live data tracking helps control centers efficient manage their logistics and transportation operations.

Moreover, the Bluetooth Low Energy (BLE) technology's adoption is rising due to the growing usage of IoT devices, for which an efficient means of communication isa must.

Experts predict that IoT sensors will be integrated into the majority of the containers in the near future, as this technology allows for two-way communication between the container and control center.

Smart Container Demand To Grow Rapidly to Ship Food & Beverage Products

The F&B vertical will witness the highest CAGR on account of the rising popularity of packaged food, a lot of which perishes easily. Now, people are preferring ready-to-eat food over homemade food which makes efficient solutions for marine transportation important to support international trade.

Smart Shipping Container Market Report Coverage

Browse detailed report on Smart Shipping Container Market Size, Share, Growth, Development and Demand Forecast to 2030

Most Smart Containers Ferried by European Shippers

Europe is at the top in the smart shipping container market, owing to the existence of a large number of integrated hardware companies that offer IoT sensors for data capture, along with advanced software for its analysis.

Furthermore, the presence of several shipping businesses in the region fuels the demand for smart containers. The biggest global shipping business based in the region are Maersk, Hapag-Lloyd, CMA CGM, Mediterranean Shipping Company, Navios, and Euronav.

In the European market, Germany will have a CAGR of 18%, because of the fast acceptance of AI, ML learning, and IoT for enhancing the logistics & transportation industry's operations and future prospects.

Smart Shipping Container Market Segmentation Coverage in the Report

Smart Shipping Container Market Analysis by Offering

• Hardware
• Sensors
• Connectivity devices
• Telematics & telemetry devices
• Software
• Services

Smart Shipping Container Market Analysis by Technology

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

Smart Shipping Container Market Analysis by Vertical

• Food & Beverage
• Pharmaceutical
• Oil & Gas
• Chemical

Smart Shipping Container Market Regional Analysis

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Asia-Pacific
• Japan
• China
• India
• South Korea
• Australia
• Latin America
• Brazil
• Mexico
• Middle East and Africa
• Saudi Arabia
• South Africa
• U.A.E.

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SOURCE P&S Intelligence