CHICAGO, Nov. 17, 2022 /PRNewswire/ -- Smart Container Market size is estimated to be USD 3.9 billion in 2022 and is projected to reach USD 9.7 billion by 2027, at a CAGR of 19.6% according to a new report by MarketsandMarkets™. Increasing focus on end-to-end supply chain visibility, higher demand for monitoring and control of internal container conditions and increasing adoption of IoT devices by shipping companies are among the key factors expected to drive the growth of the smart container market in the next five years. During the forecast period, the higher demand from the food and beverages industry is expected to increase smart container adoption globally.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=194648249
Browse in-depth TOC on "Smart Container Market" 135 – Tables
30 – Figures
210 – Pages
By offering, hardware segment to lead market during the forecast period
Hardware components such as sensors, connectivity devices, and telematics and telemetry devices are extensively used in various applications ranging from sensing the environment to relaying data to a centralized database for further evaluation. For most container monitoring applications, the accuracy and reliability of hardware components are critical parameters. Devices such as data loggers or gateways are used throughout the container transit for reliable connectivity and to monitor the temperature, pressure, and humidity of food, pharmaceuticals, chemicals, and other environment-sensitive products. Among all the hardware components, sensors are the most used electronic components in smart containers. As the number of hardware components installed in a container is large, in addition to the high cost of these devices, the hardware segment is estimated to have the largest market share.
By technology, BLE segment to register second-highest growth rate during the forecast period
Bluetooth Low Energy (BLE) is one of the most widely applicable low-power connectivity standards. The rapid growth in BLE technology is due to the explosion of IoT devices that need common and efficient means of communication. BLE technology was developed with a focus on IoT devices. For instance, IoT devices are compact-sized and require extended battery life. BLE prefers low power consumption compared to continuous data transfer. BLE is a commonly recognized and applied standard that does not necessitates specialized compatible hardware to be deployed. As smart container involves the deployment of many IoT devices, BLE technology becomes essential for communication and connectivity between IoT devices, resulting in a high growth rate of the BLE technology segment.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=194648249
Europe to hold the largest market share during the forecast period
Europe is estimated to account for the largest share of the smart container market during the forecast period. The region has the largest presence of players in the smart container market. The market players in Europe are not only offering hardware solutions but also IoT software platforms to improve data storage and data analytics. Players offering such solutions in Europe include Nexxiot AG, Sensolus, and Arviem, among others. Additionally, the higher technology adoption in the European region has led to the increasing implementation of smart container technologies, such as IoT, AI, ML, Bluetooth Low Energy, and LoRaWAN. Through its funding programs, such as the EU Horizon 2020 (which has a long-term research and innovation framework from 2021 to 2027), the European region has been providing support for the development, testing, and deployment of innovative technologies and novel transportation solutions to boost the digitalization of mobility and the shipping industry. Such factors have led to the rapid growth and adoption of smart containers in the European region.
Major vendors in the smart container market include MSC (US), Sealand – A Maersk Company (US), Globe Tracker (Denmark), Traxens (France), ORBCOMM (US), Shenzhen CIMC Technology Co., Ltd. (China), and Berlinger & Co. ApS (Switzerland).
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=194648249
Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
Related Reports:
Cold Chain Monitoring Market by Offering (Hardware and Software), Logistics (Storage and Transportation), Application (Pharmaceuticals & Healthcare, Chemicals), Temperature, and Region (2021-2026)
Micro-Location Technology Market by Product Type (Smartphones, Television Sets, Smart Wearables, Large Format Displays), Panel Type, Panel Size, Technology, Vertical, and Geography (2021-2026)
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/smart-container-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/smart-container.asp
Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
SOURCE MarketsandMarkets
![](https://rt.prnewswire.com/rt.gif?NewsItemId=IO40115&Transmission_Id=202211172130PR_NEWS_USPR_____IO40115&DateId=20221117)
Share this article