Press release
Packaging Automation Market Expected to Grow with 9% CAGR Due to Increasing Demand Supply Chain Integration and Growing Implementation of Automation
The global packaging automation market was estimated as USD 28.24 billion in 2015 and is expected to grow significantly with a CAGR of over 9% over the forecast period. Increasing demand for supply chain integration and growing implementation of automation are expected to drive the market growth over the forecast period. Additionally, technological advancements such as autonomous control, wireless technology, and wearable devices are also anticipated to spur the global packaging automation market.
Packaging is considered to be one of the vital aspects in product manufacturing process for protecting the products from dust, physical damage, and other environmental factors. Packaging process are carried out via different packaging automation ICs, and machineries which further assists in completing the tasks effectively and efficiently.
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Industry Highlights
Food & Beverages industry is projected to witness high demand
The packaging automation technology is anticipated to witness growing demand for packaging automation. The end-user segment includes semiconductor & electronics, retail, aerospace & defense, chemical, automotive, logistics & warehousing, healthcare, food & beverages, and others.. Food and beverages end-user segment has been estimated for the highest market share in terms of revenue, owing to intensified competition amongst contemporaries in the business.
Europe region has been anticipated to dominate owing to many large industries
Geographically, North America, Asia Pacific, Europe, Middle East & Africa, and Latin America are the key regional segments in the global market. Europe region has been estimated to lead the market share in terms of revenue generation followed by Asia Pacific and North America owing to the presence of a large number of players in the region. Asia Pacific is projected to exhibit lucrative opportunities for the packaging automation market owing to the growing demand from. healthcare, automotive, and food & beverages sectors.
Top Industry Player’s
Some of the prominent players operating in the market are ABB Ltd., Rockwell Automation, Mitsubishi Electric Corp., Automated Packaging Systems, Inc., Emerson Electric Co., Kollmorgen, Schneider Electric SE, Siemens AG, BEUMER Group GmbH & Co. KG, and Swisslog Holding AG.
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Market Segments
Rising rate of industrialization and manufacturing activities owing to the increasing population, reduction in labor cost is projected to enhance the market growth. Automation packaging industry ensures the quality, improves labor productivity and reduces the storage cost which has further anticipated the industry growth over the forecast period. Increasing requirements in industries such as healthcare & pharmaceuticals, food & beverage, chemical, automotive and e-commerce & logistics will also benefit the market. Safety rules & regulations are major concerns for manufacturers specifically in the food & beverage industry and healthcare sector of emerging nations such as China, India, and Latin America.
Increasing industrial innovations and technological advancements such as DCS, PLC, SCADA, and MES, automation & Automation ICs have become more conventional for small and medium-scale manufacturers.
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