Packaging Automation Solutions Market Expected to Reach $58,010 Million by 2023
PORTLAND, Oregon and PUNE, India, May 17, 2018 /PRNewswire/ --
According to a new report published by Allied Market Research, titled, "Packaging Automation Solutions Market by Product, End-user Industry, and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023", 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 global packaging automation solutions market is expected to witness a 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.
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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.
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%.
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 (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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