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Packaging Automation Solutions Market Growth Drivers, Opportunities, Trends, and Forecasts to 2023

07-16-2019 04:49 PM CET | Industry, Real Estate & Construction

Press release from: allied market research

Packaging Automation Solutions Market Growth Drivers,

The demand for global packaging automation solutions industry is driven by an increase in the rate of industrialization & manufacturing activities due to growing population, reduction in the labor cost as automated packaging requires less manual inputs, and rise in industries using this solution including food & beverage, healthcare & pharmaceuticals, and e-commerce & logistics industry, chemicals, automotive, and others. Moreover, the use of automated solutions helps fast-paced, increased, and enhanced productivity, thereby leading to market growth.

The global packaging automation solutions market was valued at $33,866 million in 2016 and is expected to reach $58,010 million by 2023, registering a CAGR of 8.2% from 2017 to 2023. Asia-Pacific is expected to exhibit lucrative growth opportunities, owing to rapid industrialization & surge in manufacturing activities for consumer goods.

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The form filling & sealing (FSS) segment is expected to generate the highest revenue of $12,986 million by 2023. The palletizing segment is expected to grow from $6,942 million in 2016 to $12,247 million by 2023, registering the highest CAGR of 8.6% during the forecast period.

The global packaging automation solutions market is expected to witness significant growth due to rising population and booming industries such as food & beverage, healthcare & pharmaceuticals, and e-commerce & logistics. In addition, these packaging solutions require lesser human intervention, which in turn drives the market growth.

Key Findings of the Packaging Automation Solutions Market:
• Global packaging automation solutions market is expected to grow at a CAGR of 8.2% during the forecast period, thereby presenting lucrative opportunities for the players in the global industry.
• The packaging robots segment is expected to witness the highest CAGR during the forecast period.
• Europe is expected to be the highest revenue contributor with $11,630 million in 2016 and is estimated to garner $18,737 million by 2023 at a CAGR of 7.2%.

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The key players operating in the global packaging automation solutions market are Rockwell Automation, Mitsubishi Electric Corp., Schneider Electric SE, Automated Packaging Systems, Inc., BEUMER Group GmbH & Co., Siemens AG, Swisslog Holding AG, Brenton, PakTech, and SATO Holdings.

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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client’s insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.

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