SINGAPORE, June 8, 2016 /PRNewswire/ — Goods tracking technologies are on the rise, as companies find them to be increasingly essential in effectively tracking and monitoring transported goods to cut down on cargo theft. ABI Research estimates that the market, which was worth $3.6 billion in 2016, will swell to $5.6 billion by 2021.
Sophisticated goods tracking technologies mitigate cargo theft and play a key role in the recovery of stolen assets by detecting the location of stolen premium goods (e.g., pharmaceuticals, electronics, jewelry, tobacco and alcohol, cash, and retail products). The solutions also provide additional security by enabling companies to track and recover stolen shipments, even when those shipments are reloaded into a new container or trailer, which is not being tracked.
“These solutions are covertly placed into product packaging so that they can continue to ping its location in real-time, enabling companies to track and recover stolen shipment and apprehend criminals,” says Raquel Artes, Industry Analyst at ABI Research. “This is particularly suitable given the market’s complex ecosystem wherein products are handled and transferred among a handful of different players and the risk of theft is high.”