According to a new report, published by KBV research, The Global Container Tracking Market size is expected to reach $19.1 billion by 2031, rising at a market growth of 7.9% CAGR during the forecast period.
The GPS segment is leading the Global Container Tracking Market by Technology Type in 2023; thereby, achieving a market value of $6.8 billion by 2031. GPS (Global Positioning System) technology is widely recognized for its ability to provide precise and real-time location data. It is invaluable for tracking containers over long distances, including across international borders. The extensive use of GPS for its accuracy, reliability, and ability to integrate with various software platforms has driven its dominant market position. Companies like Maersk and CMA CGM heavily rely on GPS tracking to ensure their containers' locations are continuously monitored, which helps optimize routes and reduce delays.
The Land segment is anticipating a CAGR of 8.7% during (2024 - 2031). Land transportation, which includes trucking and rail, is critical for moving goods within countries and across continental borders. Demand for dependable and effective tracking solutions for handling the complexities of land-based logistics is a key factor propelling the expansion of this segment. The rise of e-commerce and just-in-time delivery models has further amplified the need for real-time visibility into container movements on roads and railways.
The Software segment dominated the Global Container Tracking Market by Offering in 2023, thereby, achieving a market value of $8 billion by 2031. The growing need for software solutions that enable businesses to analyze and manage the data gathered through tracking devices is responsible for this expansion. Software solutions assist organizations in optimizing their supply chain operations, enhancing efficiency, and improving decision-making.
The Food & Beverage segment is registering a CAGR of 7.2% during (2024 - 2031). Strict monitoring is required for the transportation of food and beverage products due to their perishable characteristics. Advanced tracking technologies such as GPS, RFID, and IoT sensors are widely used to maintain the integrity of these products during transit by monitoring temperature, humidity, and other environmental factors. Leading companies like Nestlé and Coca-Cola have implemented comprehensive container tracking solutions to ensure compliance with food safety regulations, reduce spoilage, and improve supply chain efficiency.
Full Report: https://www.kbvresearch.com/container-tracking-market/
The Asia Pacific region dominated the Global Container Tracking Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $6.9 billion by 2031. The North America region is experiencing a CAGR of 7.3% during (2024 - 2031). Additionally, The Europe region would exhibit a CAGR of 7.4% during (2024 - 2031).
By Technology Type
By Mode of Transportation
By Offering
By End-User
Unique Offerings 
