Smart Container Market Growth, Trend Analysis and Forecast 2027
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. 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 ...