Market Spotlight: Smart Container Market on Track to Achieve $9.7 Billion by 2027

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MarketsandMarkets Presents
The Smart Container Market is projected to grow
from USD 3.9 billion in 2022 to USD 9.7 billion
by 2027, registering a CAGR of 19.6 during the
forecast period. 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.
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MarketsandMarkets Presents
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.
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MarketsandMarkets Presents
By offering, hardware segment to lead market
during the forecast period 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. Download PDF Brochure _at_
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MarketsandMarkets Presents
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.
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MarketsandMarkets Presents
By Technology, BLE segment to register
second-highest growth rate during the forecast
period 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 a large
number of IoT devices, BLE technology becomes
essential for communication and connectivity
between IoT devices, resulting in a high growth
rate of the BLE technology segment. Speak To
Analyst _at_ https//www.marketsandmarkets.com/speakt
oanalystNew.asp?id194648249
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MarketsandMarkets Presents
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.
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MarketsandMarkets Presents
Europe to hold the largest market share during
the forecast period 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.
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MarketsandMarkets Presents
Key Players 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). Browse For More Details -
https//www.marketsandmarkets.com/Market-Reports/s
mart-container-market-194648249.html
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MarketsandMarkets Presents
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