Freight transport insurer TT Club, along with the management consulting firm McKinsey, published the report called “Brave new world? – Container transport in 2043.” The report summarizes what the industry leaders think about what the future will hold for the container industry over the next 25 years.
The authors of the report interviewed over 30 industry leaders and experts from a wide cross section of the industry. The research concluded to five conclusions regarding where the industry is going and it examined four potential scenarios, as well as their implications. Two of these scenarios focus on digitalisation and two on trade development.
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The five key conclusion that the report includes, are the following:
- The physical characteristics of the industry are unlikely to change, as the container and the ships that carry them will still exist over the next 25 years;
- Trade flows will become more balanced across trade lanes as incomes converge between East Asia and developed economies, and the emerging economies in South Asia and Africa “catch up”;
- Automation will be adopted across the value chain, especially on the landside in ports, terminals, rail and trucking, to unlock significant efficiencies;
- Digital, data, and analytics will change the sources of value creation and customers will expect a high level of reliability, transparency and user-friendliness;
- The industry leaders in 2043 will look very different; some will consolidate, others may change their business model. Some will be “digital natives”, either start-ups or e-commerce players optimising the container transport leg of their supply chain.
Finally, the report identifies the key sources of value creation for the industry, causing a discussion to whether the future is driven by trade or by digitalisation.
You can learn more by clicking the PDF below
