Market Research News Packaging Automation Market | Page 2

Packaging Automation Market Overview
Packing automation is defined as a packaging of a product completed by
machines or robots. It protects the product from physical damage. Packing
automation machines help to lower down the cost of packaging and it helps to
decrease the labor cost and minimize damages during material handling.
Packing automation helps the manufacturers to deliver more products in less
time.
Market Size and Forecast
The global packaging automation market is expected to grow at a CAGR of 9.2%
over the forecast period i.e. 2017-2024. Further, packaging automation market
is anticipated to reach USD 61.2 billion globally by 2024. This significant growth
can be attributed to the rising demand for packaging automation from food
and beverages sector, healthcare sector and others. Moreover, with 28%
market share in 2016, palletizing by type is the dominating segment in overall
packaging automation market and it is expected to continue its dominance
over the forecast period.
In terms of region, Europe is expected to dominate the global packaging
automation market over the forecast period. Additionally, Europe region in
2016 accounted for the highest market share of 36% of the overall packaging
automation market. Europe is anticipated to witness significant growth owing
to the presence of large number of industries. The major countries witnessing
the augmented demand for packaging automation include U.K. and France.
Copyright © Research Nester