The drive for cargo security seals market has stemmed from the rise in transportation of containers. Cargo security seals are used for sealing containers for logistics in wide range of industries. They have been popularized as airline freight seals. Their role in ensuring tamper-evident and fraud protection for cargos has attracted attention of stakeholders. Heavy-duty bolt seals that are ISO compliant are increasingly being utilized. Applications where cargo security seals are used include trailer doors, truck doors, railcar doors, valves, coin bags, totes, inner drum bags, and storage bags.
Some of the typical use cargo security seals are put to help logistics companies pre-assign unique serial numbers. Providers in the cargo security seals market are meeting the needs of customizability of end users, where these need to meet print label requirements. Easy product differentiation and color coding are some of the key roles of cargo security seals. Some of the product types are bolt seals, cable seals, tamper-evident seals, and barcoded seals.
Cargo Security Seals Market: Key Trends
Rapid pace of rise in ecommerce is a key factor underpinning the generation of opportunities in the cargo security seals market. Rise in logistics and transportation in urbanized regions of the world has intensified the need for security seals. The market is also seeing new avenues on the back of technology integration, where real-time tracking is possible. In the face of cargo thefts and adulteration, brands focusing on the originality of products are looking for better solutions to earn customer trust. For instance, cargo containing medical and electronics need high-level security seals. The utilization of cargo security seals for heavy machinery such as mining equipment and oil drums has helped generate substantial avenues for providers of security seals solutions.
Growing concerns of piracy among e-commerce companies serving markets in developing economies have broadened the prospects in the cargo security seals market. The demand has also attained robust momentum from the rising demand for groceries through online retail chains in various cities of the developing world.
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Cargo Security Seals Market: Competitive Analysis and Key Developments
Providers of cargo security seals are leaning on meeting the demand for shipping and logistics industry. They are focusing on ensuring prevention of piracy and tampering of cargo due to unauthorized access. Top player in the cargo security seals market are offering multiple security features to meet the need of cargo security seals. They are also working on improving the visual appeal of seals. Global players are working to expand their product portfolio, especially to meet a variety of demands for government agencies, retail chain, and defense authorities. Several providers and developers of seals technology are also aiming to meet the personalized logistics needs of end users.
The cargo security seals market is highly competitive with players trying to outdo others in terms of unveiling new security technologies. Some of the key stakeholders in the market are:
- Transport Security, Inc.
- W. Grainger, Inc.
- J. Keller & Associates, Inc.
- American Casting Mfg.
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Cargo Security Seals Market: Regional Assessment
Based on geographies, cargo security seals market is witnessing revenues in North America, the Middle East and Africa, Asia Pacific, Latin America, and Asia Pacific. Of these, Asia Pacific has shown immense revenue potential for new opportunities in the cargo security seals market. Strides made by ecommerce industry have been a high undercurrent in the expansion of this regional market. Brands becoming cautions about the concerns of unauthorized access demand solutions with multiple features and real-time tracking. The increasing trend of customization has spurred new prospects in North America market. Advances made in technologies are also boosting the demand in the aforementioned regional market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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