The Smart Container Market is anticipated to expand at a CAGR of 19.7% from USD 3.9 billion in 2022 to USD 9.7 billion by 2027. The need for smart containers is greatest in the pharmaceutical business since these containers help to manage distribution routes, enhancing visibility, security, and reliability, all of which are essential for managing pharmaceutical products. The quick adoption of smart containers in the pharmaceutical supply chain is a major factor in the market's expansion. However, the widespread use of IoT devices causes interoperability problems, which could hinder the market's expansion.

Smart containers are shipping containers that are employed in the logistics and freight sectors. They incorporate sensors, Internet of Things (IoT) technology, GPS tracking, and telemetry and communication equipment. These electronic devices mounted on the containers enable the collection of data regarding a number of characteristics, including temperature, humidity, pressure, light, and location, in almost real-time. Additionally, preconfigured software and services for data storage, data analysis, and fleet management are included with smart containers. Smart containers provide advanced security, dependability, tracking, and monitoring capabilities with the aid of these qualities.

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Food and beverage, chemicals, pharmaceuticals, oil and gas, and other industries have separate segments in the smart container market based on vertical. Pharmaceuticals is predicted to have the greatest market share among these over the projection period. Logistics for the pharmaceutical industry are extremely time- and quality-sensitive. Pharmaceutical products require tight regulatory oversight, temperature-controlled storage, and distribution. Pharmaceutical supply chains are highly rigorous since a lot of shippers must follow cold chain procedures and prevent theft while in transit. To move specialist medicinal products, they also use unique provisions. As a result, the sector strives to provide clients with essential items in a safe manner at a reasonable operational cost. The most dependable and effective method of transporting delicate pharmaceutical supplies is now known as smart containers. Smart containers have many advantages for the pharmaceutical business, including better location tracking, enhanced adherence to pharmaceutical rules, near real-time temperature, humidity, and pressure monitoring, and increased security. The pharmaceutical business is quickly implementing smart containers due of their advantages.

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Four geographic divisions—North America, Europe, Asia Pacific, and the Rest of the World (RoW) —have been made for the Smart Container Market. During the projected period, Europe is anticipated to account for the greatest market share for smart containers. The market for smart containers has the most players in Europe. The market players in Europe provide IoT software platforms in addition to hardware solutions to enhance data analytics and data storage. Nexxiot AG, Sensolus, and Arviem are some of the companies that provide these solutions in Europe. Additionally, the increased use of smart container technologies like IoT, AI, ML, Bluetooth Low Energy, and LoRaWAN is a result of Europe's higher rate of technology adoption. Additionally, the European region has been supporting the development, testing, and implementation of cutting-edge technologies and novel transportation solutions to support the digitalization of mobility and the shipping industry through its funding programmes, such as the EU Horizon 2020 (which has a long-term research and innovation framework from 2021 to 2027). These elements have sped up the deployment of smart containers in Europe.

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