Packaging Automation Market to Grow at 10.11% CAGR, Valued at $166.14 Billion by 2031
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Packaging Automation Market Size, Share & Trends Analysis Report By Offering (Solution, Services), Automation Type (Robotic Pick & Place Automation, Secondary Packaging Automation, Tertiary & Palletizing Automation), And Industry Vehicle (Healthcare & Pharmaceuticals, E-Commerce & Logistics, Food & Beverage, Automotive, Chemical & Refinery, Aerospace & Defense)- Market Outlook And Industry Analysis 2031"
The global packaging automation market is estimated to reach over USD 166.14 billion by 2031, exhibiting a CAGR of 10.11% during the forecast period.
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Packaging automation is the process of packaging without any human assistance. A brilliant tactic that enables manufacturing or packaging organizations to accomplish more work with fewer resources is to eliminate superfluous employment. The implementation of packaging automation leads to a decrease in the need for labor, an increase in packing efficiency and repeatability, and a consequent increase in the use of floor space.
Additionally, it improves product quality while reducing overall packing costs. Automated technologies have increased the productivity and efficiency of production processes. With the introduction of automation and robotics over the past few decades, manufacturing lines all over the world have seen a considerable revolution. Manufacturers all over the world are turning to automation in order to maintain high levels of productivity and efficiency due to intense competition and an increasing focus on speeding up turnaround times.
The market is driven by the enormous benefits of packaging automation systems. However, the need for more initial cash prevents smaller companies from advancing their adoption in the face of the pandemic.
List of Prominent Players in the Packaging automation market:
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The number of people using the practice of internet shopping has dramatically increased, making it one of the most significant recent advancements. In nations with rising economies, like China and India, online shopping is growing quickly. The booming e-commerce industry is fuelling the sales of packaging automation since there is a substantial need for packaging equipment throughout all stages of e-commerce manufacturing, including primary and secondary packing, labeling, coding, and marking of the products. Product packaging has a big influence on consumers' buying choices in addition to protecting products from damage and separating businesses from one another through appealing and creative designs.
The high design and support expenses linked to these devices are limiting the growth of the packaging automation sector. Due to the use of cutting-edge technologies and the need for skilled labour, the overall cost of these machines will increase. The machinery must also have proper and consistent maintenance in order for them to continue operating as intended, which raises the expense. The government's stringent regulations for worker safety when automated packaging technologies are used are another obstacle to the industry's growth.
Europe held the largest share of packaging automation. The high growth of the market in Europe can be attributed to the fast adoption of new technology by the masses and the presence of several manufacturing industries and also packaging automation providers in the region. These companies offer a wide range of automated packaging systems for applications in sectors such as food and beverages, logistics and warehousing, retail, healthcare, chemical, automotive, and aerospace and defense. Asia-Pacific is anticipated to see the highest CAGR throughout the forecast period due to the region's growing usage of solutions and services in the manufacturing, e-commerce, and healthcare sectors. Corrugated packaging is also more necessary due to the rising demand for packaged foods & drinks in the nation, which is anticipated to be one of the driving forces behind the adoption of packaging automation in the Asia-Pacific market.
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Segmentation of the Packaging Automation Market-
Palletizer and Depalletize
Vertical/Top Load Case Packer
Wrap-around Load Case Packer
Horizontal/Side Load Case Packer
Robotic Pick & Place Automation
Secondary Packaging Automation
Tertiary & Palletizing Automation
Healthcare & Pharmaceuticals
Healthcare & Pharmaceutical Manufacturing Companies
Contract Manufacturing Organizations
Rest of Middle East and Africa
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