Wednesday, March 22, 2023
  • About Us
  • Contact Us
KsaWeekly.com
  • News
  • Business
  • Finance
  • Technology
  • Lifestyle
  • Middle East
  • Press Release
Submit a News Release
No Result
View All Result
KsaWeekly.com
Submit PR
Home Press Release

Smart Container Industry Worth $9.7 billion by 2027 at a CAGR of 19.6%

Press Room by Press Room
November 18, 2022
in Press Release
Share on FacebookShare on Twitter


(EMAILWIRE.COM, November 18, 2022 ) The Smart Container Market is projected to grow from USD 3.9 billion in 2022 to USD 9.7 billion by 2027, at a CAGR of 19.7% during the forecast period. The pharmaceutical industry has the highest demand for smart containers as these containers help to manage distribution channels, boosting visibility, security, and reliability, which are key for pharmaceutical product management. The rapid deployment of smart containers in the pharmaceutical supply chain is a key driver for the growth of the market. However, the implementation of a large number of IoT devices results in interoperability issues, which may pose a challenge to the market’s growth.

Download PDF Brochure @

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=194648249

Smart containers are shipping containers used in the freight and logistics industry. They are integrated with Internet of Things (IoT) technology, sensors, GPS tracking, and telecommunication and telemetry devices. Such electronic equipment installed on the containers helps to collect near real-time data about several parameters such as temperature, humidity, pressure, light, and location inside the containers. Additionally, smart containers come with preinstalled software and services which provide data storage, data analysis, and fleet management, among others. With the help of these features, smart containers offer advanced security, reliability, tracking, and monitoring capabilities.

The smart container market by vertical has been segmented into food and beverages, chemicals, pharmaceuticals, oil and gas, and others. Among these, the pharmaceuticals segment is estimated to hold the largest market share during the forecast period. Pharmaceutical logistics is highly sensitive to time and quality assurances. Products in the pharmaceutical industry demand temperature-controlled storage and distribution, along with strict regulatory control. Pharmaceutical supply chains are very demanding as a large number of shippers are required to maintain cold chain practices in addition to avoiding theft during transport. They also employ special provisions to move specialized pharmaceutical products. As a result, the industry aims to deliver critical products to customers, in a secure manner, and at a competitive operational cost. Smart containers have emerged as the most reliable and efficient form of shipping sensitive pharmaceutical products. Smart containers offer various benefits to the pharmaceutical industry such as improved adherence to pharmaceutical regulations, improved location tracking, near real-time temperature, humidity and pressure monitoring, and heightened security. Owing to their benefits, the pharmaceutical industry is rapidly employing smart containers.

The smart container market has been segmented into four regions—North America, Europe, Asia Pacific, and the Rest of the World (RoW). Europe is estimated to hold the largest share of the smart container market during the forecast period. Europe 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. 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. Furthermore, 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 adoption of smart containers in the European region.

Ask for Sample Report @

https://www.marketsandmarkets.com/requestsampleNew.asp?id=194648249

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.



Source link

Previous Post

فودافون مصر تتعاون مع اس بي اس مصر لتقديم حلول الفاتورة الإلكترونية عن طريق منصة V-HUB

Next Post

Berg Money is bringing SME payments platform to the UAE

RECOMMENDED NEWS

Mobile Device Management Market- New Technological Development Projecting Massive Growth till 2026

7 months ago

SECURRENCY CAPITAL APPOINTS AISHA AL MANSOORI AS NEW NON-EXECUTIVE DIRECTOR

6 months ago

Rapid Adoption in Packaging Application is Driving the Microprinting Market

7 months ago
Low Dielectric Materials Market Size, Share, Demand, Top Key Players, Business Opportunities And Global Forecast To 2027

Low Dielectric Materials Market Size, Share, Demand, Top Key Players, Business Opportunities And Global Forecast To 2027

2 weeks ago

BROWSE BY CATEGORIES

  • Business
  • Finance
  • Lifestyle
  • Middle East
  • News
  • Press Release
  • Technology

POPULAR NEWS

  • ZainTech partners with LigaData to deliver data-driven digital services in MENA

    ZainTech partners with LigaData to deliver data-driven digital services in MENA

    0 shares
    Share 0 Tweet 0
  • تم إطلاق VOYAH FREE في أوروبا وتم افتتاح معرض VOYAH.

    0 shares
    Share 0 Tweet 0
  • Saudi Arabia’s NuqtahNFT and ConsenSys partner to empower Web 3 startups

    0 shares
    Share 0 Tweet 0
  • Vidliz Expands Its Data-Driven Online Marketing Services in the Middle East

    0 shares
    Share 0 Tweet 0
  • NOWA outlines 16 major achievements of Hajiya Aisha Gambo in 2 Years

    0 shares
    Share 0 Tweet 0

KSA Weekly™ publishes and aggregates business, socio-economic, Tech and industrial news on Saudi Arabia, Middle East and North Africa (MENA).

We provide press release distribution to media in the Kingdom of Saudi Arabia, the Arab world and the GCC/MENA regions. To send your press release, contact us today.

Recent News

Recent Posts
  • Correction: BioMap and MBZUAI team up on joint biocomputing lab to promote sustainable development and human health in the Middle East
  • French-speaking Saudis host cultural night in Jeddah – Arab News
  • TCS named a Top Employer in the UAE, Saudi Arabia and South … – ITP.net
  • Olayan Saudi to open new rehab hospital in Riyadh – ZAWYA
  • Saudi Arabia, Türkiye Announce Engineering Automation Project for … – Asharq Al-awsat – English

Category

News

Business

Finance

Technology

Lifestyle

Middle East

Press Releases

Subscribe to Our Newsletter

    KSA Weekly ™ is part of GroupWeb Media Network. © 2023 GroupWeb Media LLC

    • About Us
    • Contact Us
    • Submit a Press Release
    No Result
    View All Result
    • News
    • Business
    • Finance
    • Technology
    • Lifestyle
    • Middle East
    • Press Release

    © 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.