Berg Insight released a new market report covering the trailer and cargo container tracking market, which showed 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 11.1 million worldwide in 2021.
Growing at a compound annual growth rate (CAGR) of 24.4%, this number is expected to reach 33.1 million by 2026, according to Berg Insight's news release. The total market value for trailer and cargo container tracking solutions reached an estimated $1.5 billion in 2021. Growing at a CAGR of 14.1%, the total market size is forecasted to reach $2.9 billion in 2026.
Berg Insight ranked Orbcomm as the largest provider of cargo tracking solutions, having an installed base of both trailers and containers. The company’s total installed base reached more than 828,000 units at the end of 2021.
The second largest player, SkyBitz, has an installed base of 685,000 tracking units, primarily on trailers. Additional leading providers of trailer telematics solutions are Spireon, Samsara, CalAmp, Powerfleet, Phillips Connect, Idem Telematics, and Schmitz Cargobull, according to Berg Insight.
“While the market is indeed growing rapidly, there is much room left for additional growth during the next five years," said Martin Backman, senior analyst at Berg Insight. "There are about 50 million intermodal containers, trailers, rail freight wagons, and ULDs in use worldwide. Less than 15% of these are today equipped with tracking technology. In addition, there are billions of individual cargo boxes, packages, and pallets that can benefit from real-time tracking solutions. Recent advancements in IoT communications technology, energy harvesting, sensor technology, and monitoring software are expected to accelerate the adoption of tracking solutions in the next few years."