Tech Revolution in Transport: Cargo Tracking Market Forecast to Hit 3.4 Billion by 2027

DUBLIN, Nov. 16, 2023 /PRNewswire/ -- The "Trailer and Cargo Container Tracking - 11th Edition" report has been added to  ResearchAndMarkets.com's offering.

The report provides an in-depth analysis of the rapidly evolving market for tracking and securing various cargo units. This pivotal study delves into the dynamics of intermodal shipping containers, trailers, swap bodies, rail freight wagons, air freight unit load devices, pallets, and cargo boxes, forecasting significant growth in this sector.

Projected to expand at a Compound Annual Growth Rate (CAGR) of 13.1% from €1.8 billion in 2022 to a staggering €3.4 billion by 2027, this market is primed for remarkable growth. The report's cutting-edge insights into vendors, products, and market trends offer an unparalleled overview of this burgeoning sector, crucial for industry stakeholders seeking to stay ahead of the curve.

Enhancing Operational Efficiency and Visibility

The crux of cargo and cargo unit tracking lies in elevating operational efficiency and enhancing visibility within transport chains. The report defines a real-time tracking solution as a system integrating data logging, satellite positioning, and data communication with backoffice applications, employing cellular or satellite networks. These tracking devices, tailored for cargo units like trailers, containers, and pallets, or the cargo itself, vary in their installation – some permanent, others temporary. Access to real-time location and status data empowers stakeholders in the supply chain to optimize decision-making, augment asset utilization, cut costs, and reduce environmental impact.

Diverse Market Players and Technology Innovations

This sector is served by a plethora of companies, with some focusing on specific applications like trailer tracking, while others specialize in general cargo tracking. ORBCOMM stands out as a leader with an impressive installed base spanning trailers and containers. The report also spotlights other major players in trailer telematics, including Spireon (now under Solera), Samsara, and CalAmp, among others.

The analysis anticipates that shipments of tracking devices equipped with cellular or satellite communication capabilities will witness a notable increase, reaching 5.4 million units by 2027. Trailer tracking dominates the market, representing over half of the total installed base of tracking devices in 2022. Meanwhile, the general cargo segment is poised for rapid expansion, driven by declining prices and the introduction of compact smart labels and devices.

Leading the Way in Container Tracking

Maersk spearheads the container tracking market, having equipped its entire fleet of reefer containers with tracking devices. Other significant players include ORBCOMM, Envotech, and Globe Tracker, with the latter experiencing substantial growth and undertaking major projects like outfitting Hapag-Lloyd's reefer container fleet.

Untapped Potential and Future Trends

Despite the existing 30 million intermodal containers, 15 million trailers, and other cargo units globally, the penetration rate of tracking devices is just around 16%, underscoring immense growth potential. The report predicts an accelerated investment in digital solutions enhancing supply chain visibility and security, a trend further emphasized by the recent global supply chain disruptions due to the pandemic. The integration of new IoT technologies is expected to further propel the development of cost-effective tracking solutions catering to the evolving needs of the transport industry.

Highlights from the report:

• Insights from 30 new executive interviews with market leading companies.
• Comprehensive overview of the real-time cargo tracking value chain and key applications.
• In-depth analysis of market trends and key developments.
• Summary of major cargo tracking initiatives from the EU and the US.
• Updated profiles of 116 cargo container tracking solution providers.
• Detailed forecasts by market vertical lasting until 2027.

A selection of companies mentioned in this report includes

• 7PSolutions
• Adapt Ideations
• AddSecure Smart Transport
• Agheera
• AJ Networks
• Amsted Rail (Amsted Industries)
• ArrowSpot
• Astrata Europe
• AT&T
• Axscend (SAF-Holland)
• Ayantra
• BeWhere
• BlackBerry
• Bornemann
• Bosch
• Brambles
• CalAmp
• CargoGuard
• Cargomon Systems
• Carrier
• China International Marine Containers (CIMC)
• Clarience Technologies
• CLS Group
• Cognid Telematik
• Contguard
• Controlant
• Cooltrax
• Copeland
• Daikin Industries
• DeltaTrak
• Digi International
• Digital Communications Technologies
• DOT Telematik
• Drov Technologies
• Envirotainer
• Envotech
• EROAD
• Fleet Complete
• Fly4u (Groupe ZeKat)
• Frigga (Shanghai Dewav Electronic Technology)
• Geoforce
• Globalstar
• Globe Tracker
• GPX Intelligence
• Grandcentrix (Vodafone)
• Great Dane
• Hanhaa
• Hive-Zox
• Honeywell
• Hyundai Translead
• Idem Telematics (BPW)
• Intelyt
• Intermodal Telematics
• Joint Technology
• Kirsen Global Security
• KPN
• Krone
• Kogel
• Lat-Lon (Geotab)
• Loginno Logistic Innovation
• Maersk
• Maersk Container Industry (MCI)
• MECOMO (Giesecke+Devrient)
• Mitsubishi Heavy Industries
• MiX Telematics
• Motive
• Net Feasa
• Nexxiot
• OnAsset Intelligence
• ORBCOMM
• Ovinto
• Pallet Alliance
• Phillips Connect (telematics division of Phillips Industries)
• Phillips Industries
• Powerfleet
• Queclink Wireless Solutions
• RM2
• Roambee
• RSAE Labs
• Samsara
• Satlock
• SAVVY Telematic Systems
• Schmitz Cargobull
• Schwarzmuller Group
• SecureSystem
• Sendum Wireless
• Sensata
• Sensitech (Carrier)
• Sensolus
• Siemens
• Sierra Wireless (Semtech)
• SkyBitz (AMETEK)
• Sony
• Spectos
• Spireon (Solera)
• SpotSee
• Swinnus
• Sycada
• T Comm Telematics
• T42 IoT Tracking Solutions
• Teletrac Navman
• TGI
• Thermo King (Trane Technologies)
• Tive
• TPL Trakker
• Tracertrak (Pivotel)
• Transics (ZF)
• Traxens
• Trinity Industries
• Trusted
• Ubidata
• Utility Trailer Manufacturing
• Wabash National
• Wielton Group
• Wireless Links
• Zenatek
• ZillionSource Technologies

For more information about this report visit https://www.researchandmarkets.com/r/nkqtsm

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