DUBLIN--(BUSINESS WIRE )--The "Global Smart Container Market (2021-2026) by Offering Type, Technology Type, Vertical Type, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Smart Container Market is estimated to be USD 4.3 Bn in 2021 and is expected to reach USD 9.8 Bn by 2026, growing at a CAGR of 17.9%.
The Global Smart Container Market is driving because of increasing adoption of new advanced and innovative technologies like Internet of Things (IoT) by various companies such as shipping, freight forwarding, transportation, logistics, and supply chain companies for collecting and transferring a large amount of data during operations/processes.
Also, temperature deviation rising the Concern related to food and medical products wastage which can be managed by putting temperature sensors and temperature control containers. Additionally, the growing need for operational efficiency and safety of containers are significant factors driving the market's growth. On the other hand, the high cost associated with the implementation of smart containers and applications, Concerns related to data privacy and security will restrict the market's growth.
Furthermore, the lack of standards for consistent communication and networking are challenges in the market. However, increasing technological investment for containers management and rising environmental awareness associated with the focus on sustainability by shipping industries will create opportunities for the market to grow.
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900