Fort Collins, Colorado, Feb. 09, 2024 (GLOBE NEWSWIRE) -- The Packaging Automation Solution Market size was valued at USD 65.8 Billion in 2022 and is anticipated to reach USD 133.9 Billion by 2032 at a CAGR of 7.5%.
Packaging automation solutions use robotics and other technologies to streamline and accelerate the packaging of finished products for safe transport and storage. These processes are ideal for large-scale manufacturing, as they standardize packaging and reduce errors.
The growing manufacturing activities across various sectors, including textiles, automobiles, healthcare, pharmaceuticals, and fast-moving consumer goods, drive the demand for packaging automation systems. This is mainly due to the rising consumer demand for these products. Companies are investing in technologies that can increase production speed while reducing operational costs to meet these demands. Packaging is a crucial process for companies, and automating it has become a priority.
Industry 4.0 is another factor contributing to this industry's growth. It involves the integration of smart machines, tools, and robotics that simplify and accelerate tedious tasks, saving companies time and resources. Artificial intelligence, machine learning, and the Internet of Things also play a significant role in labeling and designing packaging to make it more attractive to customers. For example, accurate label printing and application through artificial intelligence tools help companies track their products and provide customers with real-time data about the product's raw materials and usage, which is especially beneficial for food products.
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Segmentation Overview:
The global packaging automation solution market has been segmented into product type, component, function, industry, and region. Packaging robots are a significant product type in the industry due to their ability to quickly and consistently apply packaging material to products. These robots ensure error-free outputs by reducing errors, making them an increasingly popular choice. In particular, the food and beverages industry benefits from packaging robots, as proper packaging is critical to maintaining product quality. Packaging materials such as plastic, metal, glass, or paper are chosen based on consumption patterns, food and beverage type, mode of consumption, and storage. By protecting products from external factors such as sunlight, water, air, insects, and pests, packaging also increases shelf life and improves the overall consumer experience.
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Packaging Automation Solution Market Report Highlights:
- The global packaging automation solution market growth is anticipated at a CAGR of 7.5% by 2032.
- Packaging automation solutions use robotics and other technologies to standardize packaging and minimize errors. Increased demand for consumer goods is driving the growth of this industry, with companies investing in technologies to increase production speed and reduce operational costs. Industry 4.0, smart machines, AI, machine learning, and IoT contribute to the growth of packaging automation systems. These technologies help label and design packaging to make it more appealing to customers while also providing real-time data about the product's raw materials and usage.
- Asia Pacific accounts for a significant share of the packaging automation solution market. Countries like China, Japan, South Korea, India, and other Asian countries have now become considerable manufacturing hubs in various industries like textile, consumer goods, food and beverage, and other sectors. Due to cheap labor and the availability of modern machinery and technologies, many companies prefer to have their manufacturing hubs in these countries, contributing to the growth of the packaging industry.
- Some prominent players in the packaging automation solution market report include ABB Ltd., Siemens AG, Schneider Electric, Emerson Electric Co., Mitsubishi Electric Corporation, Automated Packaging Systems Inc., Rockwell Automation Inc., Kollmorgen Corp., SATO Global, Brenton Engineering, and others.
Industry Trends and Insights:
- ABB and Norwegian Cruise Line Holdings (NCLH) have recently entered into a long-term partnership agreement to facilitate the decarbonization and digitalization of the Norwegian Cruise Line (NCL) fleet. The agreement's primary goals are to enhance safety and efficiency. It covers 14 existing ships and four additional vessels scheduled for delivery from 2025 to 2028.
- Siemens and Areti, a Roman DSO, have announced their partnership in the RomeFlex project. The project will test the potential of managing congestion and voltage volatility across the strained power grids of Italy's capital city.
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Packaging Automation Solution Market Segmentation:
By Product Type: Automated Packagers, Packaging Robots, Automated Conveyors and Sortation Systems, and Others
By Component: Software and Services
By Function: Case Packaging, Palletizing, Labelling, Bagging, Wrapping, and Others
By Industry: Food and Beverages, Healthcare, Logistics and Warehousing, Retail, and Others
By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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