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The smart shipping container market was USD 3,971.2 million in 2022, and it will touch USD 15,341.5 million, propelling at a 18.4% compound annual growth rate, by 2030.
The growth of the industry is mainly attributed to the temperature regulation, enhance security measures, and real-time GPS tracking capabilities these containers offer. Moreover, because of the quick technological advancements in AI, IoT, big data analysis, and communication, the industry will further advance in the years to come.
Smart Shipping Container Market Size and Share Analysis Report@ https://www.psmarketresearch.com/market-analysis/smart-shipping-container-market
Based on offering, the hardware category accounted for the largest smart shipping container market share, approximately 50%, and it will advance at the highest growth rate in coming years, because of the widespread adoption of various components for tracking and monitoring applications.
Based on technology, the industry is dominated by GPS due to its role in package monitoring and tracking.
Moreover, the quick implementation of the Bluetooth Low Energy (BLE) technology is because of the rising IoT devices implementation, which necessitates effective communication.
Additionally, the long-range wide area network (LoRa WAN) category will advance at the highest rate in the years to come. This is mainly because of the benefit of LoRa WAN as compared to other technologies, for instance, BLE and Wi-Fi.
Based on vertical, the food & beverage category will advance at the highest compound annual growth rate, of over 20%. This is attributed to the growing requirement for packaged food and perishable. Individuals are shifting their focus towards ready-to-eat food from homemade food, which is boosting the requirement for smart marine transportation solutions for edibles.
In 2022, the smart shipping containers industry is led by Europe, with a share of approximately 40%. This is because of the existence of numerous major industry players providing enhanced software and IoT sensors integrated hardware for effective analytics of data.
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