PUBLISHER: Allied Market Research | PRODUCT CODE: 1472378
PUBLISHER: Allied Market Research | PRODUCT CODE: 1472378
Shipping businesses are frequently striving to exploit the latest technology to enhance their operations and customer service. In this context, the container tracking system finds a considerable application in providing real-time updates through an IoT-based tracking solution that offers an accurate status of the container's location. These tracking systems are well-equipped with battery-powered IoT devices or assets that help to provide improved visibility to all the parties involved in the supply chain process. In addition, these tracking systems are commonly used to optimize supply chain operations among businesses by identifying inefficiencies, reducing transit times, and enhancing overall logistics efficiency. This optimization further leads to cost savings and improved resource utilization.
Furthermore, the shipping industry has been going through numerous changes in recent years, along with changes in consumer expectancies. Customers expect quick deliveries, thus, time management is crucial in the freight forwarding industry. Shipping owners, in this scenario, find container tracking systems highly relevant for leveraging supply chain visibility irrespective of their size of business operations.
The expansion of global trade has led to a higher volume of goods being transported across borders, which has increased the importance and widespread adoption of container tracking. The integration of container tracking into the global supply chain is becoming essential to manage and monitor the efficient movement of goods. With the robust growth of international trade across multiple modes of transportation, including sea, air, rail, and road, container tracking systems offer a unified approach to monitoring containers, ensuring seamless visibility and coordination across the global supply chain. These factors directly propel the growth of the container tracking market worldwide. In addition, container tracking solutions further help businesses comply with international regulations, such as those related to security (e.g., ISPS Code), customs, and environmental standards, which contributes to market growth.
Moreover, the widespread awareness of sustainability and environmental responsibility has emerged as a crucial solution to address the risk of inefficient fuel consumption and emissions, allowing businesses to optimize routes and reduce their environmental footprint. Also, the real-time monitoring of container conditions facilitates in prevention of spoilage and waste, thereby improving sustainability and environmental practices. In response to this global awareness, various organizations, including the World Customs Organization, International Air Transport Association (IATA), and Transported Asset Protection Association (TAPA), have collaborated to release guidelines and initiatives aimed at improving cargo security and promoting efficient logistics practices.
However, with the transmission and storage of sensitive data, there is a concern about data security and privacy. Securing information about tracking from unauthorized access and ensuring compliance with data protection regulations are some of the ongoing challenges. Further, container tracking information is vulnerable to interception during data transmission. Without proper encryption, sensitive data may be visible, risking the integrity and confidentiality of the information. Thus, implementing end-to-end encryption for data in transit and strong encryption protocols for stored data helps protect information from unauthorized access.
The global truck refrigeration unit market is segmented into offering, technology type, mode, end-user, and region. Depending on the offering, the market is segregated into hardware, software, and services. By technology type, it is categorized into RFID, GPS, cellular, and satellite. Based on mode, it is divided into maritime, land, and air. As an end-user, it is fragmented into food & beverage, consumer goods, vehicle transport, healthcare, industrial products, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players covered in the report include CMA CGM, COSCO, GoComet, Hanjin Logistics Corporation, Hapag-Lloyd AG, INTTRA, Maersk, Orient Overseas Container Line Limited, Project44, and SeaRates. These companies have adopted strategies such as product launches, product development, and others to improve their market positioning.
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