Increasingly Competitive Container Shipping Market to Boost Security and Tracking Revenues to $690 Million by 2016
27 Oct 2011
ABI Research's new Cargo Container Security and Tracking study reveals that revenues will grow at a compound annual growth rate (CAGR) of 27% from $212 million in 2011 to $690 million in 2016. The study covers maritime and intermodal asset management solutions that are enabled with a family of integrated wireless technologies to provide real-time, global tracking, security, and communications features.
"With a lot of regulations and legislation being introduced in the aftermath of 9/11, expectations that this industry would finally take off were high, prompting many vendors to enter this market with advanced solutions. While RFID-based point solutions at port yards are becoming more established - at least in North America and Western Europe - uptake of more advanced GPS-based solutions has been disappointing, despite several solutions having been made available by vendors such as SkyBitz, DB Schenker, Starcom, and Pointer Telocation - mainly for the intermodal market", says Telematics and navigation group director Dominique Bonte.
At the same time, end-to-end visibility, monitoring, and tracking are becoming more important in an increasingly competitive and security-challenged container transportation industry where cheaper and safer container transport is urgently needed. While this will represent another strong driver for the uptake of GPS-based tracking in the future - though some players still claim tracking of containers during maritime transport on ocean liners is not a major requirement - the coexistence of different technologies such as OCR, RFID, RTLS, and GPS will remain the default situation, with slow migration from legacy systems such as OCR to RFID/RTLS, later followed by a more aggressive uptake of GPS/cellular-based solutions.
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