Skip to main content

Global Cargo Tracking Revenue will Reach €1.8 Billion

Applications for the Internet of Things (IoT) are helping to transform the global cargo sector. According to the latest market study by Berg Insight, the number of active tracking devices deployed for cargo loading units -- including trailers, intermodal containers, rail freight wagons, air cargo containers, cargo boxes and pallets -- reached 6.1 million worldwide in 2018.

Growing at a compound annual growth rate (CAGR) of 27.3 percent, the number of devices is expected to reach 20.4 million by 2023.

Cargo Tracking Market Development

Trailer telematics is today the most developed market, followed by tracking devices for general cargo applications and intermodal containers. The markets for rail freight wagon and air freight cargo tracking are considerably smaller but will grow substantially during the coming five years.

The total market value for trailer and cargo container tracking solutions reached at the same time an estimated € 857 million in 2018. The market for remote tracking solutions for cargo containers has entered a period of healthy growth that will continue for several years.

Growing at a CAGR of 16.3 percent, the total market value is forecasted to reach €1.8 billion in 2023.

Berg Insight ranks ORBCOMM as the largest vendor of tracking solutions for cargo loading units, having a significant installed base of trailers as well as containers. ORBCOMM is together with SkyBitz, Omnitracs, Spireon and I.D. Systems the leading players on the North American trailer telematics market in terms of the number of active units.

The European trailer telematics market is substantially smaller than the North American and is dominated by Idem Telematics, Schmitz Cargobull, CLS Group and Transics/WABCO.

On the market for container tracking solutions, three major vendors are Malaysia-based Envotech and Sierra Wireless and Geoforce based in the US. Mecomo and Agheera, both based in Europe, are strong vendors in the adjacent swap body segment.

Future Telematics, Intermodal Telematics and Nexiot based in Europe and Amsted Rail based in North America are significant vendors of tracking solutions for rail freight wagons. Sensitech, Roambee and OnAsset Intelligence are moreover notable players in the general cargo segment, also offering solutions for air freight cargo tracking.

Technological developments in the telematics industry in recent years have resulted in more advanced tracking solutions. "Today’s telematics solutions generate an increasing amount of data on the status and location of cargo and cargo loading units," said Martin Bäckman, analyst at Berg Insight.

Outlook for Cargo Tracking Applications Growth

Along with the development of more capable tracking solutions, low-end solutions are becoming increasingly affordable. According to the Berg assessment, the price for real-time tracking technology is now at a point where customers find it viable to track also low-value goods such as non-perishable food.

This enlarges the addressable market significantly and tracking of trailers, containers, rail wagons and cargo boxes is expected to become increasingly common in the next decade.

Popular posts from this blog

Digital Transformation Spending Reaches $1.8 Trillion

Ongoing investment in business technology will remain on track, despite concerns about the global economic outlook which continues to evolve in 2022. Enterprise CIOs and CTOs are focused on operational profitability and digital business growth goals that are enabled by strategic IT initiatives. Global spending on the Digital Transformation (DX) of business practices, products, and organizations is forecast to reach $1.8 trillion in 2022 -- that's an increase of 17.6 percent over 2021, according to the latest market study by International Data Corporation (IDC). Many anticipated DX investments will sustain this pace of growth throughout the 2021-2025 forecast period, with a five-year compound annual growth rate (CAGR) of 16.6 percent. Digital Transformation Global Market Development "IDC expects to see aggressive DX technology investment growth in 2022 following a minor slowdown during the pandemic period," said Craig Simpson, senior research manager at IDC . "As orga

Why Cloud-Native is The Future of IT Spending

The leading organizations that create a digital transformation plan will gain the most from their use of public cloud computing. However, some CIO and CTO leaders still struggle with how to build a modern cloud migration strategy. The worldwide cloud computing Infrastructure as a Service (IaaS) market grew 41.4 percent in 2021, to a total of $90.9 billion -- that's up from $64.3 billion in 2020, according to the latest market study by Gartner. "The IaaS market continues to grow unabated as cloud-native becomes the primary architecture for modern workloads," said Sid Nag, vice president and analyst at Gartner . Cloud IaaS Market Development Cloud supports the scalability and composability that advanced technologies and applications require, while also enabling enterprise leaders to address emerging needs such as sovereignty, data integration, and enhanced customer experience. In 2021, the top five IaaS providers accounted for over 80 percent of the market. Amazon AWS conti

Private 5G Networks and Enterprise Wi-Fi Converge

The global enterprise wireless networking market is evolving. Driven by a desire to take advantage of the available 6 GHz communications spectrum, with greatly improved broadband throughput and latency rates, more organizations may choose to adopt Wi-Fi 6E technologies. According to the latest worldwide market study by ABI Research, shipments of Wi-Fi 6E access points and routers will rise from 1.5 million units in 2022 to 5.2 million units by 2024. Wireless spectrum expansion is just one facet of the commercial wireless network market transition, as the technology of Wi-Fi customer premise equipment will be upgraded once again with Wi-Fi 7 (IEEE 802.11be standard) devices. Enterprise Wireless Network Market Development "The adoption of Wi-Fi 7 access points will accelerate following the protocols standardization in 2024, and just two years later, most 6 GHz enabled access point shipments will be supporting Wi-Fi 7," said Andrew Spivey, industry analyst at ABI Research . Anot