Market Research Reports - Ken Research Asia Advanced Packaging Market Segmentation, Share | Page 2

expected to drive major production volumes in the industry ultimately bolstering the market
growth.
Internet of Things (IoT) is the recent trend that has been witnessed in this industry. IoT market,
application and technology segmentation has lately commenced and the companies across the
industry are currently restructuring, merging and acquiring so that they are able to adjust their
portfolios in a way that enables a complete platform offer and generates leading positions in
the market. It is thereby establishing more demands for attractive packages which the
consumers prefer and not only this; it also ensures that the raw materials used for such
advanced techniques of packing are renewable or biodegradable in nature such that the future
goals for sustainable development are not hampered and hence, it is even forecasted to
produce a favorable impact on the advanced packaging industry in the coming years.
The latest events in Asian technology market have well indicated that an appealing era for the
advanced packaging industry is expected to come up in the future years supported with positive
changes in the lifestyles and environmental health awareness especially amongst the growing
middle-class population of consumers along with favorable government legislations.
China has been the world’s second largest packaging market after the USA, and its market has
been mainly driven by robust growth in the industry sectors like food & beverage,
pharmaceutical and household chemical development. It is further projected to reach total
revenue of around USD 174.2 billion by the end of 2018. Following China, Japanese and Indian
packaging markets are also registering decent CAGRs ultimately proliferating growth in the
Asian continent. Furthermore, these trends are expected to boost the Asian industry altogether
in the coming years where fundamental changes will take place along with advancements in the
technology production methods and even the competition amongs