Amidst the Global pandemic, almost all the developing sectors have been poorly affected. The global economic and social crisis has put all the markets under certain questions. The market of cargo security seals isn’t any different. The dynamics of the cargo security seals market depend on shipping market’s performance. According to the reports on analysis of market trends and competitions, the global shipping market is expected to witness an appreciable growth over the next few decades.
Following the growth of shipping market, the cargo security seals market is supposed to boost as well.
A developing country like India which has undergone a massive transition with the increase in number of internet users over the years might see a boost in domestic shipping. In this situation of a global pandemic, people have become more cautious of their health and thus are trying to avoid visiting crowded marketplaces.
People are leaning more towards e-commerce websites and digital shopping. This change in people’s preferences is expected to positively affect the cargo security seals market in the coming future.
Moreover, with the government paying more attention to ‘Make in India’, the number of exports is anticipated to have an appreciable increase. The Global shipping market’s expected boost in the coming decades will ensure the growth of cargo security seals market. As Security seals are supposed to provide adequate security to the cargo and even tamper evidence to the investigators, they are used extensively in the shipping industry.
Thus, cargo security seals market’s growth or dip goes hand in hand with shipping market’s Performance. Even though the market is anticipated to have a positive affect in future, the advancements in the alternatives such as tamper evident packaging and better sealing solutions might pose a threat to the increasing demand for security seals.
This can be tackled if the manufacturers are able to bring forth better mechanisms and extra secure seals for the shipments. Cargo security seals with customised colours, bar-coding, tamper evident body and tracking technologies would be in high demand for the level of security they provide to the cargo.
Although the trend and statistics point towards a growth in the cargo security seals market, ultimately it will all depend on the country’s implementation and the execution of plans in order to recover from the economic crisis we are currently in. Only then the above-mentioned positive points will become real.
