The Pick And Place Machines 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).
Learn More On The Pick And Place Machines Market:
https://www.thebusinessresearchcompany.com/report/pick-and-place-machines-global-market-report
According to The Business Research Company’s Pick And Place Machines Global Market Report 2024, The pick & place machines market size has grown strongly in recent years. It will grow from $2.43 billion in 2023 to $2.65 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to growth of electronics manufacturing industry, evolution of surface mount technology (smt), increase in demand for miniaturized electronic components, expansion of consumer electronics production, rise in demand for high-speed and precision assembly.
The pick & place machines market size is expected to see strong growth in the next few years. It will grow to $3.62 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to development of flexible and modular pick and place machines, influence of industry 4.0 on manufacturing processes, increase in adoption of lead-free soldering processes, integration of vision systems for component inspection, expansion of 5g technology and iot devices, impact of covid-19 on reshoring and supply chain resilience, increase in demand for smart manufacturing solutions. Major trends in the forecast period include technological advancements in automation and robotics, adoption of artificial intelligence in pick and place machines, integration of 3d printing in pick and place machine manufacturing, emphasis on energy-efficient and eco-friendly machine designs, integration of machine learning.
The increasing demand for the food and beverage industry is expected to propel the growth of the pick-and-place machines market going forward. The food and beverage industry refers to the sector of the economy involved in the processing, production, distribution, and sale of food and beverages for human consumption. Pick and place machines are utilized in food and beverage packaging operations as they automate picking up products, such as bottles, cans, cartons, or bags, from a conveyor belt and accurately placing them into packaging containers, such as boxes, trays, or pallets. For instance, in 2023, according to the Food & Drink Federation, a UK-based organization representing and advising UK food and drink manufacturers, Scotland registered 1,185 companies that manufacture food and beverages. Further, exports of food and beverages rose by 31% in 2022 to $10.18 billion (£8.1 billion). Additionally, food and beverage turnover accounts for $12.5 billion (£10.3 billion) in 2022 or 33% of total Scottish manufacturing. Therefore, the increasing demand for the food and beverage industry is driving the growth of the pick-and-place machines market.
Get A Free Sample Of The Report (Includes Graphs And Tables):
https://www.thebusinessresearchcompany.com/sample.aspx?id=12527&type=smp
The pick and place machines market covered in this report is segmented –
1) By Type: Manual, Semi-Automatic, Automatic
2) By Component: Controllers, Frames, Motors, End Effectors, Vacuum Pumps, Sensors
3) By Technology: Vision-Based, Force-Based, Laser-Based, Hybrid
4) By Application: Consumer Electronics, Automotive, Packaging Industry, Pharmaceuticals And Medical Devices, Logistics And Warehousing, Other Applications
Product innovations are a key trend gaining popularity in the pick-and-place machines market. Major companies operating in the pick-and-place market are innovating new products to sustain their position in the market. For instance, in October 2022, Smart Robotics, a Netherlands-based pick-and-place machine manufacturing company, launched a smart parcel picker. This picking robot is made to unload various containers filled with packages ranging in size, surface material, and weight while depalletizing them. The smart parcel picker offers case-friendly throughput and performance, freeing warehouse workers from physically taxing and repetitive work at a time when the sector is also facing a rising labor crisis.
The pick and place machines market report table of contents includes:
.
.
.
Top Major Players:
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Overview and Scope Cosmetic ingredients refer to the substances or components used in the formulation…
Overview and Scope Cosmeceuticals refers to cosmetic products that contain active ingredients with potential therapeutic…
Overview and Scope Xerostomia therapeutics refer to treatments and medications used to manage dry mouth,…
Overview and Scope Dips and spreads are condiments that are produced by combining a range…
Overview and Scope Workstation software is an application designed to enhance productivity and efficiency in…
Overview and Scope Workflow management software refers to a digital tool designed to streamline and…