The container tracking market has experienced strong growth, with the market size growing from $9.36 billion in 2023 to $10.11 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. Growth in the historic period is driven by increasing consumer demand for transparency, demand for efficient logistics solutions, the rising volume of goods, seaborne trade, and safety standards. The market is expected to grow further, reaching $13.78 billion in 2028 at a CAGR of 8.1%. The projected growth will be supported by sustainability initiatives, international trade growth, focus on fleet optimization and efficiency, rising trade volumes, and infrastructure development. Key trends during the forecast period include blockchain applications, advanced data analytics, autonomous vehicles and drones, supply chain platform integration, and a focus on environmental and sustainability practices.
Global Container Tracking Market Key Driver
The rising incidence of cargo theft is expected to drive the growth of the container tracking market. This rise in cargo theft is attributed to economic pressures that lead to increased criminal activity and sophisticated theft methods that outpace existing security measures. Additionally, the surge in e-commerce has expanded the volume and value of goods being transported, making cargo an attractive target for thieves. Container tracking mitigates cargo theft by providing real-time location and status updates, enabling immediate action against unauthorized movements. It also enhances security through detailed monitoring and historical data analysis. For instance, in May 2024, TAPA EMEA reported that transport theft cases in the European Union rose by 35.46% in 2023 compared to 2022, with reported incidents increasing from 6,113 to 8,281. The total financial loss from these crimes was $594.16 million (EUR 549 million), representing a 438% increase from 2022 and a staggering 1,076% rise from 2021. Therefore, rising cargo theft is significantly driving the growth of the container tracking market.
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Global Container Tracking Market Segments
The container tracking market covered in this report is segmented –
1) By Offering: Hardware, Software, Service
2) By Technology Type: Radio Frequency Identification (RFID), Global Positioning System (GPS), Cellular, Satellite
3) By Mode of Transportation: Maritime, Land, Air
4) By End-User: Food And Beverage, Consumer Goods, Vehicle Transport, Healthcare, Industrial Products, Other End-User
By Geography:The regions covered in the container tracking market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the container tracking market in 2023.
Major Container Tracking Industry Players
A.P. Moller - Maersk A/S, CMA CGM Group, Cosco Shipping Lines Co Ltd., NetSuite Inc., Hapag-Lloyd AG, Mediterranean Shipping Company S.A., Orient Overseas Container Line Limited, DP World Logistics FZE, Yang Ming Marine Transport Corporation, Zim Integrated Shipping Services Ltd., Evergreen Marine Corporation, Wan Hai Lines Ltd., Kawasaki Kisen Kaisha Ltd, Hyundai Merchant Marine Co., Ltd., Zebra Technologies Corporation, Ocean Network Express Pte. Ltd., Project44 Inc., CargoWise, E2open Parent Holdings Inc., ORBCOMM Inc., Hanjin Logistics Corporation, Pacific International Lines (Pte) Ltd., GoComet, CargoSmart Ltd.
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Container Tracking Market Overview
Container tracking refers to the use of technology to monitor and manage the location, condition, and status of shipping containers throughout their journey from origin to destination. It utilizes a real-time global positioning system, radio frequency identification, and Internet of Things (IoT) technologies to monitor and manage the location, condition, and status of shipping containers throughout their journey, enhancing visibility and efficiency in the supply chain.
Container Tracking Global Market Report 2023 provides data on the global container tracking market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The container tracking market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
