Meticulous Research®, a leading global market research firm, has released a new report detailing the projected growth of the global smart containers market. According to the publication, the market is anticipated to reach a substantial $16.9 billion by 2030, growing at a robust CAGR of 20.1% from 2024 to 2030. This growth is driven by the increasing focus on optimizing logistics, enhancing supply chain visibility, and addressing concerns related to cargo security and counterfeiting.
The smart containers market encompasses various segments, including hardware, software, and services. Among these, the software segment is expected to dominate in 2024, attributed to the rising demand for data analytics and cloud-based platforms. The software segment is projected to grow at the highest CAGR during the forecast period.
In terms of container type, dry containers are forecasted to hold the largest market share in 2024. This is due to the growing e-commerce sector and the demand for general cargo transportation. Reefer containers, however, are expected to register the highest CAGR, driven by the need to maintain the quality and freshness of temperature-sensitive goods.
The market is also segmented by size, technology, application, and sector. The 40-foot containers segment is projected to account for the largest share, while the Internet of Things (IoT) technology is set to dominate in terms of market share due to its role in real-time monitoring and asset management. Blockchain technology is expected to experience the highest growth, driven by its ability to enhance traceability and security.
By application, asset tracking & management is anticipated to hold the largest market share, with supply chain optimization projected to grow at the highest rate. The retail & e-commerce sector is expected to lead the market, with the food & beverage sector anticipated to grow rapidly due to the need for improved inventory management and product safety.
Geographically, Asia-Pacific is projected to be the largest market in 2024, followed by Europe and North America. The region's strong industrial presence and commitment to green logistics contribute to its leading position.
Key players in the smart containers market include Panasonic Industry Co., Ltd., CMA CGM Group, ORBCOMM, and TRAXENS, among others. These companies are instrumental in advancing smart container technologies and addressing market challenges.
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