Digital Packaging: Unpacking The Potential of IoT
For instance, food and beverages industry is increasingly making use of RFID to speed up products transportation, processing and delivery while additionally using rapid scanning to ensure that the products being transported are protected and fresh. Also, machine-readable and mobile friendly QR codes used in digital packaging which contains vital information regarding a package that can be used across the distribution chain to ensure safe transportation, products online manuals and warranty registrations.
The emergence of IoT and big data has led to manufacturers incorporating smart sensor into their packaging solutions to broaden the packaging functionality. Smart sensors have the ability to track information regarding temperature, motion, and pressure.
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Digital packaging can be defined as the incorporation of digital technology into the packaging of products. Digital technology incorporated into packaging includes near field communication (NFC), radio frequency identification (RFID), Bluetooth, Wi-Fi, QR codes, Barcodes, etc. The implementation of digital packaging therefore encompasses broad range of packaging systems such as labels, tags, closures, flexible packaging, rigid packaging, etc.
The global digital packaging market is observed to be in the germination stage and is anticipated to expand considerably over the forecast period 2017-2027. The US$ 800 billion global packaging market offers enormous growth potential for the digital packaging segment in terms of engineering, design, innovation and product development activities. Market players entering into the digital packaging market are streamlining their product life cycle (PLC) strategies in order to grab the early mover’s advantage.
Emergence of internet of things (IOT) has led to packaging manufacturers incorporating smart sensors into their packaging solutions in order to broaden the packaging functionality. Smart sensors used in the digital packaging market have the ability to track information regarding temperature, motion and pressure.
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Smart sensors, smart labels and barcodes have allowed manufacturers to track products in the supply chain and logistics processes. End use industries such as food, beverages and pharmaceuticals have prominently leveraged the use of connected technology to gauge and record information pertaining to temperature, internal atmosphere, pressure and motion.
Manufacturers and especially consumer brands are looking at packaging as the gateway to the perceptual understanding among consumers. The use of QR codes on packaging has enabled consumer packaged goods (CPG) manufacturers to engage consumers in innovative ways and drive sales and business growth. QR codes have enabled brands to offer discounts, prizes, gather feedback or supply product related information.
Digital packaging market is observed to gradually include traditional packaging formats which are remodeled to incorporate the principles of digital packaging. Smart bottles are incorporated with digital technology to provide enhanced functionalities such as hydration reminders, medical dosage reminders, time and temperature indication, tracking and recording the quality of wines, etc.
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Global Digital Packaging Market: Regional Outlook
Geographically the global digital packaging market is segmented into 7 key regions including North America, Latin America, Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East and Africa (MEA).
Global Digital Packaging Market: Key Players
Some of the players operating in the digital packaging market include Thin Film Electronics ASA, Avery Dennison, Trago, Inc., Thermos L.L.C., AdhereTech Inc., Weber Packaging Solutions, Inc., Saralon Gmbh, Amcor Limited
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