The North America Packaging Automation Market is valued at USD 16.25 billion in 2016 and is expected to reach a value of USD 17.84 billion by the end of 2022 , growing at a projected CAGR of 1.57 % during the forecast period of 2017 – 2022 . North America is the current leader in packaging automation market . The region accounts for more than 30 % of the global share and it is still growing . The growth in this region is attributed to factors like the culture of e- commerce and packaged food industry in North America .
With increasing globalization of production and the intensely competitive nature of the packaging industry , cost cutting becomes imperative as companies are striving to maximize profits ; but compromising on quality is not an option as the consumers are increasingly being aware and conscious of the products they use . This has created a great need for automation to be employed in packaging .
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A comprehensive overview of the market for Packaging Automation over the period 2017 - 2022 has been given in this report . The report segments the market by area of application with an in-depth analysis of every segment in each area . Aerospace , land-based , marine and subsea applications are explained with comprehensive market analysis of each segment .
The unprecedented rise in unmanned vehicles across various applications in both civilian and defense applications has increased the need for complex navigational systems which include inertial sensors . The rapid advancement in technology has made sensors both accessible and affordable making their use abundant in day-to-day devices .
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The emergence of the Asian market has resulted in drastic changes in the dynamics of manufacturing and production across Europe and North America . The availability of cheap labor has enabled companies in these regions to achieve increased productivity with lesser capital investments . As a result of this global nature of business , companies are able to claw deep into the market share of players from the developed economies and they are now facing a severe brunt . It is virtually impossible for the firms in developing nations to compete with their counterparts in developed nations without automation . This is a major factor pushing companies to
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