The Artificial Intelligence (AI) In Packaging Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Artificial Intelligence (AI) In Packaging Global Market Report 2024, The artificial intelligence (AI) in packaging market size has grown rapidly in recent years. It will grow from $2.34 billion in 2023 to $2.62 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The growth in the historic period can be attributed to cost reduction and efficiency improvement, consumer demand for personalization, supply chain optimization, quality control and assurance, increased awareness and education.
The artificial intelligence (AI) in packaging market size is expected to see rapid growth in the next few years. It will grow to $4.04 billion in 2028 at a compound annual growth rate (CAGR) of 11.4%. The growth in the forecast period can be attributed to sustainability requirements, integration with iot and industry 4.0, rising demand for e-commerce packaging solutions, increased focus on cybersecurity, global pandemic resilience. Major trends in the forecast period include collaboration and partnerships, continued technological advancements, technological advancements, smart packaging integration, predictive maintenance.
The emerging industrial IoT and automation operations are expected to propel the growth of artificial intelligence (AI) in the packaging market going forward. The industrial Internet of Things (IIoT) refers to the integration of Internet of Things (IoT) technologies into industrial processes and systems, and automation involves the use of technology, control systems, and machinery to perform tasks with minimal human intervention. Integrating AI into industrial automation for packaging enhances efficiency, adaptability, quality control, and overall system performance while also aligning processes with broader goals of sustainability, energy efficiency, and meeting the demands of modern, dynamic markets. The integration of IoT and AI in the packaging industry has enabled the establishment of smart packaging systems that can monitor and optimize the packaging process, reduce waste, and improve sustainability. For instance, in October 2022, according to a report published by the International Federation of Robotics, a Germany-based non-profit organization, companies globally installed 517,385 new industrial robots in 2021, representing an increase from 394,000 robots installed in 2020. Asia accounted for 74% of these newly deployed robots, and notably, China, the region’s largest adopter, experienced a substantial 51% growth in installations, reaching a total of 268,195 units sold. Therefore, the emerging industrial IoT and automation operations are driving the growth of artificial intelligence (AI) in the packaging market.
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The artificial intelligence (ai) in packaging market covered in this report is segmented –
1) By Technology Type: Machine Learning, Computer Vision, Natural Language Processing (NLP), Predictive Analytics
2) By Application: Quality Inspection, Data Labeling, Artificially Intelligent Engineering (AIE) Of Packaging, Smart Warehousing, AI-based Recycling Systems, Other Applications
3) By End Use: Food Industry, Beverage Industry, Medical and Pharmaceutical Industry, Cosmetic Industry, Consumer Electronics Industry, Other End Uses
Major companies operating in the artificial intelligence (AI) in packaging market are focused on developing advanced technologies, such as on-demand packaging solutions, to better serve customers with advanced features and gain a competitive edge in the market. On-demand packaging solutions refer to a system or service that provides customized and precisely sized packaging materials based on the specific needs of a given product or shipment. For instance, in April 2022, DHL Supply Chain, a Germany-based contract logistics provider, launched the OptiCarton system, an AI-based optimized packaging system. The distinctive feature of the AI-powered OptiCarton system lies in its ability to optimize box filling from a predefined set of cartons. Moreover, it has the capability to propose the division of an order into multiple consignments, enhancing cost-effectiveness and reducing the carbon footprint of individual shipments. Beyond addressing the existing shortage of cardboard boxes and packaging materials in the market, OptiCarton, based on initial pilots, not only responds to this challenge but also provides customers with additional advantages, including potential shipping cost savings of up to 35%, with an average saving of 15%.
The artificial intelligence (ai) in packaging market report table of contents includes:
- Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
…….
- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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