Electronic Cargo Tracking System Market - Forecast(2024 - 2030)
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.
COVID-19 / Ukraine Crisis - Impact Analysis:
Key Market Players:
Scope of the Report:
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.