Press Release

The Global Packaging Robots Market is projected to grow from USD 4.3 billion in 2021 to USD 14.4 billion by 2030 at a CAGR of 12.3% during the forecast period.

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The global packaging robot market is fueled by factors such as the growing need for computerization in many industrial verticals, increased use of robots for maximum efficiency, and cost savings from adopting robotic packaging frameworks. Furthermore, the packaging robots market is expected to grow during the forecast period, due to the growing global robotics industry and continuous expansion in the retail and online business industries.     

Many companies in the packaging robots industry had to temporarily halt operations due to the COVID-19 pandemic, in order to comply with new government laws aimed at stopping the disease's spread. This halt in activities has a direct impact on the total revenue flow of the market. Furthermore, due to a scarcity of raw materials and employees during the lockdown, industrial product manufacturing came to a halt. Furthermore, enterprises in this industry were unable to receive any new consignments. As a result, the global market was harmed for several months by a halt in industrial activity and lockdowns, and the industry is likely to slowly recover during the forecast period. Governments are prioritizing automation acceptance by focusing on cutting-edge technologies such as machine learning, AI, deep learning, 3D printing, and machine vision, which are expected to generate long-term demand growth.    

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Rapid development in demand for a wide range of products from production industries such as food and beverages, medicines, and e-commerce is forcing companies to focus on improving production efficiency and operations management. Robotic process automation in packaging equipment achieves overall productivity of the project, which is required for long-term production efficiency. Industry growth is also being aided by new technologies such as human-robot collaboration. Moreover, the utilization of industrial robotics allows for higher operational efficiency while also ensuring human safety. The task is slowed or terminated when a robot finds humans in its path when working with humans.

Growing demand for various products is forcing enterprises to concentrate on enhancing production efficiency and implementing innovative operational activities. Overall equipment efficiency is a must for long-term production efficiency, which can be attained through the use of robotic automation in packaging units. Installation of robotics in packaging lines improves efficiency of packing, product selecting, and palletizing by reducing manual dexterity. Furthermore, it improves equipment efficiency while lowering operating costs and providing exceptional returns on investment. As a result, during the forecast period, value-added benefits provided by robotic automation are likely to drive market expansion.      

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North America is the largest market for packaging robotics due to the number of major manufacturers in many industries are investing heavily in the modernization of industrial facilities in order to boost productivity, efficiency, and output. In addition, the availability of industrial robots is fueling market expansion in this region.

KEY INDUSTRY DEVELOPMENTS:

January 2020- Syntegon Technology purchased Bosch Packaging Technology's packaging machines business in Germany.

May 2019- Mitsubishi Electric Corporation bought ICONICS Inc., a software firm based in the United States that specializes in supervisory control and data collecting. (SCADA). 

Read More Details On This Report: https://www.extrapolate.com/machinery-equipment/packaging-robots-market/25809