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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