Electronic Cargo Tracking System Market - Forecast(2024 - 2030)

Report Code: ESR 0845 Report Format: PDF + Excel

Electronic Cargo Tracking System Market Overview:

The global Electronic Cargo Tracking System Market size is estimated to reach $1.8 billion by 2030, growing at a CAGR of 12.9% during the forecast period 2023-2030. The electronic cargo tracking system market is driven by a combination of factors that create demand for advanced tracking and monitoring solutions in the transportation and logistics industry.

Moreover, the expansion of global trade has led to the need for more efficient and secure ways to track cargo as it moves across borders and through various transportation modes. Modern supply chains often involve multiple stakeholders, modes of transportation, and various hand-offs. Electronic cargo tracking systems help streamline these complex processes and provide real-time visibility into cargo movements. Cargo theft and security breaches are significant challenges in the logistics industry. Electronic cargo tracking systems help mitigate these risks by providing real-time alerts in case of unauthorized access or tampering.

Market Snapshot: 

Electronic Cargo Tracking System Market - Report Coverage:

The “Electronic Cargo Tracking System market - Forecast (2023-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Electronic Cargo Tracking System Market.

                    Attribute                          Segment

By Type

  • Software

  • Hardware

By Application

  • Container

  • Truck

  • Tankers

  • Freight Aircraft

  • Others

By Technology

  • Global Navigational Satellite System (GLONASS)

  • Global Positioning System (GPS)

  • Connectivity Technology

  • Others

By Industry Vertical

  • Transport & Logistics

  • Construction & Manufacturing

  • Retail

  • Government

  • Other Industry Verticals

By Geography

  • North America (U.S., Canada and Mexico)

  • Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe),

  • Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and Rest of Asia-Pacific),

  • South America (Brazil, Argentina, Chile, Colombia and Rest of South America)

  • Rest of the World (Middle East and Africa).

COVID-19 / Ukraine Crisis - Impact Analysis:  

• The COVID-19 pandemic has significantly impacted the Electronic Cargo Tracking System (ECTS) market. It has led to increased cargo pendency and dwell times at ports, affecting logistics and supply chains. Additionally, ECTS in the transportation and logistics sector has seen disruptions due to the pandemic, affecting global trade and transportation industries. The pandemic has highlighted the importance of resilient ECTS solutions to adapt to the challenges posed by global crises.

• The Electronic Cargo Tracking System (ECTS) market in Ukraine has experienced disruptions due to the ongoing Ukraine Crisis. This crisis has led to logistical challenges, affecting the transportation and tracking of cargo. ECTS providers are adapting to the changing landscape to ensure the security and efficiency of cargo shipments amidst this crisis, but the market has been impacted significantly.

Key Takeaways:

• APAC Exhibits the Fastest Growth 
APAC is expected to grow at higher CAGR during the forecast period 2024-2030. The Asia-Pacific region, boasting several major economies and witnessing swift economic expansion, is witnessing a surge in trade activities. This growth is fuelling a rising demand for Electronic Cargo Tracking Systems as businesses seek efficient ways to monitor and secure their shipments, promoting innovation and competitiveness in the market.

Additionally, according to the U.S United Nations Economic and Social Commission for Asia and the Pacific, Real exports from Asia-Pacific are predicted to increase by 3.0% while imports are predicted to decrease by 0.3%. It is projected that the nominal value of merchandise trade in Asia and the Pacific is US$ 19.0 trillion in 2023. The regional merchandise trade is anticipated to develop slightly more in 2023. As trade continues to expand, businesses will seek more efficient and secure ways to monitor and manage their cargo, driving the market for these systems.

•  Air Type Segment Register the Fastest Growth
The "Air" segment of the Electronic Cargo Tracking System (ECTS) has experienced the fastest growth in recent years, and expected to continue the same trend in the forecast period. This remarkable expansion is attributed to increased demand for swift and efficient air freight transportation, driven by e-commerce and global supply chain dynamics. The rapid adoption of air cargo services has propelled the "Air" segment to unprecedented growth levels, transforming the logistics industry. 
For instance, according to the Bureau of Transportation Statistics in December 2023, air cargo revenue ton miles reached 2.57 billion, indicating a robust demand for efficient cargo tracking systems. This data underscores the critical need for advanced Electronic Cargo Tracking Systems to enhance supply chain management, security, and logistics operations, offering substantial growth opportunities for providers in this market.

• Government and Defense sector leading the Market
The Government and Defense sector held the largest market share in 2023. The demand for electronic cargo tracking systems in the Government and Defense sectors is driven by enhanced security needs. These systems offer real-time monitoring, ensuring the security and integrity of high-value and sensitive cargo during transportation. This prevents theft, tampering, and unauthorized access, making them crucial for safeguarding defense equipment, weapons, and classified materials.
For instance, according to the World Bank, India's military expenditure (% of GDP) was recorded at 2.4% in 2023. This financial commitment reflects the nation's focus on bolstering its defense capabilities. Consequently, the Electronic Cargo Tracking System Market is experiencing heightened demand, particularly in the Government and Defense sectors, as security and logistics play pivotal roles in safeguarding the country's interests.

• The Growing Importance of Cargo Security 
Cargo security is becoming increasingly vital in today's globalized world. With the increasing risks of theft, tampering, and smuggling, companies are looking for ways to enhance the security of their cargo. ECTS provides real-time tracking and monitoring of cargo, allowing companies to detect and respond to any security breaches promptly. This helps in preventing theft, reducing losses, and ensuring the integrity of the supply chain.
According to the International Air Transport Association, Air cargo moves nearly $6 trillion in goods, accounting for around 35% of global trade in terms of value. This substantial economic activity underscores the critical need for robust tracking and security solutions to protect these valuable shipments.

• High Implementation Costs Hampers the Market Growth
The Electronic Cargo Tracking System (ECTS) market faces a significant hurdle in the form of high implementation costs. This includes expenses for hardware, software, and integration with existing systems. Such expenditures can be prohibitive for small and medium-sized businesses, limiting their ability to adopt ECTS solutions, and hindering market expansion.

The Electronic Cargo Tracking System (ECTS) Market Share (%) By Region, 2023

           

Key Market Players: 

Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the The Electronic Cargo Tracking System (ECTS) Market. The top 10 companies in this industry are listed below:

1. Ascent Solutions Pte. Ltd. (Ascent)
2. Transecur Telematics Pvt. Ltd (Transecur)
3. Descartes Systems Group Inc. (Descartes)
4. Avante International Technology, Inc. (Avante)
5. Utrack Africa Limited (Utrack)
6. Gurtam (Gurtam)
7. Jointech (Jointech)
8. Teltonika (Teltonika)
9. SGS S.A. (SGS)
10. Orbcomm Inc. (Orbcomm) 

Scope of the Report: 

            Report Metric                            Details

Base Year Considered

2022

Forecast Period

2023–2030

CAGR

12.9%

Market Size in 2030

$1.8 billion

Segments Covered

By Type, By Application, By Technology, By Industry Vertical, By Geography

Geographies Covered

North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, New Zealand and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa).

Key Market Players

  1. Geotab

  2. Verizon Communications

  3. Trimble

  4. Orbcomm

  5. Savi Technology

  6. Transpoco

  7. SkyBlitz

  8. Roambee

  9. Tive

  10. FourKites


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1. Electronic Cargo Tracking System Market - Overview
    1.1 Definitions and Scope
2. Electronic Cargo Tracking System Market - Executive Summary
3. Electronic Cargo Tracking System Market - Comparative Analysis
    3.1 Company Benchmarking - Key Companies
    3.2 Global Financial Analysis - Key Companies
    3.3 Market Share Analysis - Key Companies
    3.4 Patent Analysis
    3.5 Pricing Analysis
4. Electronic Cargo Tracking System Market - Start-up Companies Scenario (Premium)
    4.1 Key Start-up Company Analysis by
    4.1.1 Investment
    4.1.2 Revenue
    4.1.3 Venture Capital and Funding Scenario
5. Electronic Cargo Tracking System Market – Market Entry Scenario Premium Premium (Premium)
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Case Studies of Successful Ventures
6. Electronic Cargo Tracking System Market - Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porter's Five Force Model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Electronic Cargo Tracking System Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Electronic Cargo Tracking System Market – by Type (Market Size – $Million/$Billion) 
    8.1 Software
    8.2 Hardware
9. Electronic Cargo Tracking System Market – by Application (Market Size – $Million/$Billion) 
    9.1 Container
    9.2 Truck
    9.3 Tankers
    9.4 Freight Aircraft
    9.5 Others
10. Electronic Cargo Tracking System Market – by Technology (Market Size – $Million/$Billion) 
    10.1 Global Navigational Sattelite System (GLONASS)
    10.2 Global Positioning System (GPS)
    10.3 Connectivity Technology
    10.4 Others
11. Electronic Cargo Tracking System Market – by Industry Vertical (Market Size – $Million/$Billion) 
    11.1 Transportation & Logistics
    11.2 Construction & Manufacturing
    11.3 Retail
    11.4 Government
    11.5 Other Industry Verticals
12. Electronic Cargo Tracking System Market – by Geography (Market Size – $Million/$Billion) 
    12.1. North America
        12.1.1 The U.S.
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 The UK
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Spain
        12.2.6 Russia
        12.2.7 The Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 India
        12.3.3 Japan
        12.3.4 South Korea
        12.3.5 Australia & New Zealand
        12.3.6 The Rest of Asia-Pacific
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Chile
        12.4.4 Colombia
        12.4.5 The Rest of South America
    12.5 The Rest of the World
        12.5.1 The Middle East
        12.5.2 Africa
13. Electronic Cargo Tracking System Market – Entropy
14. Electronic Cargo Tracking System Market – Industry/Segment Competition Landscape Premium 
    14.1 Market Share Analysis
        14.1.1 Market Share by Product Type – Key Companies
        14.1.2 Market Share by Region – Key Companies
        14.1.3 Market Share by Country – Key Companies
    14.2 Competition Matrix
    14.3 Best Practices for Companies
15. Electronic Cargo Tracking System Market – Key Company List by Country Premium  
16. Electronic Cargo Tracking System Market - Company Analysis
1. Geotab
2. Verizon Communications
3. Trimble
4. Orbcomm
5. Savi Technology
6. Transpoco
7. SkyBlitz
8. Roambee
9. Tive
10. FourKites

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The Electronic Cargo Tracking System Market is projected to grow at 12.9% CAGR during the forecast period 2023-2030.

The global Electronic Cargo Tracking System Market size is estimated to be $610 million in 2023 and is projected to reach $1.8 billion by 2030.

The leading players in the Electronic Cargo Tracking System market are Geotab, Verizon Communications, Trimble, Orbcomm, Savi Technology, Transpoco, SkyBlitz, Roambee, Tive, Fourkites

The heightened investments in global pharmaceutical research and development, the implementation of government protocols to ensure drug safety, an increasing concentration on elevating the quality of food items, the augmentation in crude and shale gas production are some major trends that will shape the market in future.

Advancements in Technology, Environmental monitoring, Biopharmaceutical Research, growing demand in Clinical Diagnostics are some driving factors and opportunities for the Electronic Cargo Tracking System market.