Packaging Robot Market Will Be Worth US$5.03 Billion By The End Of The Forecast Period

A fresh market intelligence study by Transparency Market Research (TMR) projects the demand in the global packaging robot market to increment at a strong CAGR of 14.0% during the forecast period of 2016 to 2024. The report has also detected that the competition in the global packaging robot market is intense, and every single prominent player is aggressive about branding strategies in order to gain ground over the competitors. The study has evaluated that the top ten players, including KUKA Roboter GmbH, ABB Ltd., FANUC Corporation, and Yaskawa Electric Corporation, accounted for 32% shares of the market in 2016.

As per the estimations provided by the report, the global packaging robot market will be worth US$5.03 bn by the end of the forecast period, which is 2024, considerably up from its evaluated valuation of merely US$1.67 bn in 2016. In the near future, the report foresees the competitive landscape of the packaging robot market to witness a number of mergers and acquisitions and joint ventures, a pattern that has been very evident in the recent past. For example, in March 2016, KUKA Roboter GmbH collaborated with Huawei Technologies Co. Ltd. For research and development activities, whereas Bosch Packaging Technology aligned a joint venture with Klenzaids Contamination Controls Private Limited, an Indian firm. Along the same lines, FANUC Corporation has increased its focus on machine learning via its partnership with Preferred Networks Inc.

Planning To Lay Down Future Strategy? Request Sample https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=9836

Picking Packaging Robot Garner Maximum Demand

Based on end-use industries, the global packaging robot market has been segmented into cosmetics and personal care, food, beverages, pharmaceuticals, chemical manufacturing, tracking, logistics, and transport, and consumer goods. While the late but very evident penetration of e-commerce in the emerging economies in Asia Pacific, such as India, which houses vast population, the tracking, logistics, and transport segment is expected to gain from, whereas food and beverage segments will gain from changing lifestyle of the urban population.

Application-wise, the report categorizes the global packaging robot market into picking, packing including tray and cases, and palletizing, including bag palletizing, case palletizing, and de-palletizing. In 2016, picking packaging robot segment accounted for 39% of the demand, which was a reflection of increasing consumption of consumer products and food and beverages as a result of changing lifestyles among the urban population.

Curious? Request To Access Market Data Packaging Robot Market

China Maintaining Asia Pacific as Most Lucrative Region

Out of all important regions studied in by this report for the potential of packaging robot market, such as North America, Europe, and Asia Pacific, the latter is currently most profitable, projected to account for 64.5% of the global demand in 2024. Escalating usage of packaging robots in FMCG as well as food and beverage industries is the reason behind the substantial demand from Asia Pacific, which houses nearly the half of the world’s population. China, with its flourishing industrial packaging demand, is expected to keep Asia Pacific at the forefront of packaging robot market throughout the forecast period.

Increased Efficiency Driving Demand

High accuracy, reduced production damage, superior efficiency, and tireless functioning are some of the key factors pushing the adoption of packaging robots. Increase in the need for automation in various industries to increase the efficiency, and in turn production, and cost reduction advantages offered by the robots are two of the key factors augmenting the demand in the global packaging robot market. On the other hand, high initial cost and the lack of skilled labor are two key challenges faced by the packaging robot market.

More Trending Reports by Transparency Market Research –

3D Modeling, 3D Visualization, and 3D Data Capture Market https://www.globenewswire.com/news-release/2019/04/25/1809807/0/en/3D-Modeling-3D-Visualization-and-3D-Data-Capture-Market-to-Reach-US-1-077-1-Mn-by-2026-Noted-TMR.html

Contact Lenses Market https://www.prnewswire.com/news-releases/global-contact-lenses-market-to-clock-cagr-of-4-3-during-2019---2027--new-technologies-focus-on-comfort-and-functionality-transparency-market-research-301001826.html

Internet of Things Testing Market: Latest Trends and Forecast Analysis up to 2025

The Internet of things (IoT) represents a giant network of interconnected devices or things that are embedded in the existing internet infrastructure. These things can include a variety of objects such as electronics devices, vehicles, equipment, sensors, and consumer appliances. The concept may signify the sharing of data and information with people and animals connected to the infrastructure in near-real time. The proliferation of connected devices and the soaring popularity of IoT among enterprises in developed and developing nations have led to the pressing need for Internet of Things testing mechanisms. Developing an effective IoT testing mechanism foregrounds evaluating key aspects such as compatibility and usability of the interconnected devices, security of the network, the connectivity, and overall performance of the system. Furthermore, enterprises implementing IoT should take into account the integration of new devices and technologies with the existing network. A number

Low Power Display Market: Projection of Each Major Segment over the Forecast Period 2017 - 2025

Low power display technology is treated separately from our modern world. High resolution displays with low power are considered by many consumers to represent the low power display technology. The development in optoelectronics and nanotechnology has changed the low power display market . The low power display market consumes of less power than plasma technologies and cathode ray tube (CRT). Low-power features have become essential for liquid crystal displays (LCDs) due to environmental concerns. The technology that saves energy by decreasing the power consumption of the backlight unit in a display panel is considered in in low power display technology. A low refresh-rate technology was introduced in order to further minimize power consumption in the display panel. The low refresh-rate was achieved by employing oxide thin-film transistors (Ox-TFTs) with extremely low leakage currents. However, flicker may be visible due to the current leakage through the liquid crystal (LC

Noise Suppression Components Market: Granular View of The Market from Various End-Use Segments

Noise suppression refers to the methods of reducing and eliminating the effects of unwanted and undesirable sound effects and electrical disturbances which occurs when the level of signal carrier is greater than the noise level. Noise causes intrusion in many electrical devices. However, there are rules to suppress noise, because noise which does not affect a particular electrical device may affect some other electrical device. Further, an electronic device is known as ‘emission’ if it is itself the source of unwanted noise and it is referred to as immunity if the concerned electronic device is the victim of unwanted noise. Electromagnetic interference (EMI) and electromagnetic compatibility (EMC) has made the issue of noise suppression important. Some of the examples of noise suppression components are electromagnetic interference suppression filter which is an electronic component which provides electromagnetic noise suppression techniques for electronic goods. The function of the e

Research Blogs

Search This Blog