The transformation of the container shipping industry is being shaped by the growth of e-commerce, digitalisation of supply chains and the development of automation technologies. Container Tracking is one such latent area of growth.
The growing containerized seaborne trade is expected to drive the market growth, per experts. And this rise in international containerized seaborne trade is giving rise to increased demand for container tracking and security systems. As per the projections by industry experts, the container tracking and security market is expected to register a CAGR of over 21% by 2022.
Container tracking and security solutions are software solutions for logistics service providers for the purpose of tracking, securing, and monitoring of containers during their transit across the globe. Such tracking systems enhance the traceability, efficiency, and security of the containers, thereby optimizing the supply chain’s performance. These solutions solve a variety of business challenges such as unavailability of real-time location of containers, lack of terminal visibility, delays due to heavy congestion at container terminals and lack of visibility of empty storage slots.
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