Factors that drive the growth of the container tracking market
include an increase in the volume of international trade and
globalization, along with growth in concerns regarding cargo theft
and security.
PORTLAND, Ore., May 14, 2024 /PRNewswire/ -- Allied Market
Research published a report, titled, "Container Tracking Market
By Offering (Hardware, Software, and Service), Technology Type
(RFID, GPS, Cellular, and Satellite), Mode of Transportation
(Maritime, Land, and Air), and End User (Food and Beverage,
Consumer Goods, Vehicle Transport, Healthcare, Industrial Products,
and Others): Global Opportunity Analysis and Industry Forecast,
2023-2032". According to the report, the global container
tracking market generated $10,075.00 million in 2022 and is anticipated to
generate $21,627.26 million by 2032,
witnessing a CAGR of 8.2% from 2023 to 2032.
Prime Determinants of Growth
The global container tracking market has experienced significant
growth and transformation, driven by several factors such as an
increase in international trade and globalization volume, rise in
cargo theft and security concerns, and a growth in focus on supply
chain optimization. However, the high initial cost of the container
tracking solutions, along with the integration challenges and
compatibility issues hampers the market growth. In addition, the
surge in the development of customized solutions for
industry-specific needs along with the global expansion of the
cross-border trade industry presents significant opportunities for
market expansion.
Request Sample of the Report on Container Tracking Market
Forecast 2032
https://www.alliedmarketresearch.com/request-sample/A311954
Report coverage & details:
Report
Coverage
|
Details
|
Forecast
Period
|
2023–2032
|
Base Year
|
2022
|
Market Size in
2022
|
$10,075.00
million
|
Market Size in
2032
|
$21,627.26
million
|
CAGR
|
8.2 %
|
No. of Pages in
Report
|
265
|
Segments
Covered
|
Offering, Technology
Type, Mode of Transportation, End User, and Region
|
Drivers
|
Increase in the volume
of international trade and globalization
|
Rise in cargo theft and
security concerns
|
Growth in focus on
supply chain optimization
|
Opportunities
|
Surge in the
development of customized solutions for industry-specific
needs
|
Global expansion of
cross-border trade
|
Restraints
|
High initial cost of
the container tracking solutions
|
Integration challenges
and compatibility issues
|
Procure Complete Report (265 Pages PDF with Insights, Charts,
Tables, and Figures)
https://www.alliedmarketresearch.com/checkout-final/container-tracking-market-A311954
The hardware segment to maintain its leadership status
throughout the forecast period
By offering, the hardware segment held the highest market share
in 2022 and is estimated to maintain its leadership status
throughout the forecast period 2023 to 2032, owing to its
significant application in supply chain processes. These components
are primarily designed to mitigate risks by offering early warning
systems and enabling proactive measures in response to potential
threats. However, the software segment is witnessing a CAGR of
9.8%, as advancements in technologies such as the Internet of
Things (IoT), RFID, and GPS have made it simpler and more
cost-effective to track containers in real-time.
The RFID segment to maintain its leadership status throughout
the forecast period
By technology type, the RFID segment held the highest market
share in 2022, and is expected to witness a CAGR of 6.0% during the
forecast period 2023 to 2032, due to the rise in need for inventory
visibility and enhanced security, which fuels the demand for
container tracking solutions, thus creating a significant growth
prospect for the RFID segment. However, the GPS segment is
witnessing the highest growth rate with a CAGR of 10.9%, owing to
rise in the need for compliance with regulations and standards
governing the transportation and handling of goods, along with the
increase in focus on meeting consumer demands for transparency and
visibility in the supply chain.
The maritime segment to maintain its leadership status
throughout the forecast period
By mode of transportation, the maritime segment held the highest
market share in 2022 and is estimated to maintain its leadership
status throughout the forecast period 2023 to 2032, owing to its
significant application in supply chain processes, along with the
increase in the need for monitoring the movement of goods through
maritime routes. However, the air segment is witnessing a CAGR of
10.6%, as the continual growth of global trade and e-commerce has
led to an increase in demand for air cargo services, which paves
the market growth prospect of container tracking solutions.
The industrial products segment to maintain its leadership
status throughout the forecast period
By end user, the industrial products segment held the highest
market share in 2022, and a CAGR of 5.9% during the forecast period
2023 to 2032, due to the considerable adoption of container
tracking solutions in inventory management and asset protection,
thus creating a significant growth prospect for the industrial
product segment. However, the healthcare segment is expected to
witness the highest CAGR of 11.0%, owing to rise in the need for
tracking and monitoring temperature-sensitive products along with
the presence of stringent regulations governing the transportation
and storage of healthcare products.
Asia-Pacific to maintain its
dominance by 2032
By region, the Asia-Pacific
region held the highest market share in 2022, growing a CAGR of
9.9% owing to the robust growth in e-commerce operations, along
with industry upgrading through supply chains going global.
Moreover, the strict implementation of regulations related to cargo
security and transparency has driven the adoption of advanced
container tracking in the Asia-Pacific region. However, Asia-Pacific is also expected to witness the
highest CAGR throughout the forecast period 2022-2032, the ongoing
developments and improvements in port infrastructure in countries
such as India, Singapore, Malaysia, and Vietnam, are crucial for efficient container
handling, which is further paving the adoption of container
tracking systems.
To Talk With Our Industry Expert @
https://www.alliedmarketresearch.com/connect-to-analyst/A311954
Leading Market Players: -
- CMA CGM
- COSCO
- GoComet
- Hanjin Logistics Corporation
- Hapag-Lloyd AG
- INTTRA
- Maersk
- Orient Overseas Container Line Limited
- Project44
- SeaRates
The report provides a detailed analysis of these key players in
the global container tracking market. These players have adopted
strategies such as new product launches, collaborations, expansion,
joint ventures, agreements, and others to increase their market
share and maintain dominant shares in different regions. The report
is valuable in highlighting business performance, operating
segments, product portfolio, and strategic moves of market players
to showcase the competitive scenario.
Browse More Trending Reports
Smart Mobility Market Size, Share, Competitive
Landscape and Trend Analysis Report by Element, Solution and
Technology : Global Opportunity Analysis and Industry Forecast,
2020-2027
Automotive Suspension Market Size, Share,
Competitive Landscape and Trend Analysis Report by Component, by
Vehicle Type, by Geometry, by Suspension Type, by System : Global
Opportunity Analysis and Industry Forecast, 2023-2032
Hydrogen Fuel Cell Vehicle Market Size, Share,
Competitive Landscape and Trend Analysis Report by Vehicle Type, by
Technology, by Range : Global Opportunity Analysis and Industry
Forecast, 2023-2032
Cargo Shipping Market Size, Share, Competitive Landscape
and Trend Analysis Report by Cargo Type, by Ship Type, by Industry
Type : Global Opportunity Analysis and Industry Forecast,
2022-2031
About Us
Allied Market Research (AMR) is a full-service market research
and business-consulting wing of Allied Analytics LLP based in
Portland, Oregon. Allied Market
Research provides global enterprises as well as medium and small
businesses with unmatched quality of "Market Research Reports" and
"Business Intelligence Solutions." AMR has a targeted view to
provide business insights and consulting to assist its clients to
make strategic business decisions and achieve sustainable growth in
their respective market domain.
We are in professional corporate relations with various
companies and this helps us in digging out market data that helps
us generate accurate research data tables and confirms utmost
accuracy in our market forecasting. Allied Market Research CEO
Pawan Kumar is instrumental in
inspiring and encouraging everyone associated with the company to
maintain high quality of data and help clients in every way
possible to achieve success. Each and every data presented in the
reports published by us is extracted through primary interviews
with top officials from leading companies of domain concerned. Our
secondary data procurement methodology includes deep online and
offline research and discussion with knowledgeable professionals
and analysts in the industry.
Contact:
David
Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
USA/Canada (Toll Free):
+1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
AMR Resource Center:
https://www.alliedmarketresearch.com/resource-center
Logo:
https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
View original
content:https://www.prnewswire.co.uk/news-releases/container-tracking-market-to-reach-21-627-26-million-by-2032-at-8-2-cagr-allied-market-research-302144865.html