Press release
Artificial Intelligence (AI) In Packaging Market Trends 2024: Automation and Efficiency
Artificial Intelligence (AI) In Packaging
The Business Research Company presents an extensive market research report on the Artificial Intelligence (AI) In Packaging Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
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.
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Key Market Players:
Major companies operating in the artificial intelligence (AI) in packaging market report are Amazon.com Inc., Microsoft Corporation, GE Digital, ABB Ltd., West Rock Company, International Paper Co, Georgia-Pacific, Amcor Plc, Berry Global, Tetra Pak, Stora Enso Oyj, DS Smith, Mondi Group, Ardagh Group, Sealed Air, Verallia, Metsä Board Oyj, Uflex Ltd, Universal Robots, Clarifai, SIG Combibloc, Otto Motors, Neurala, Packagex Inc, Greyscale AI
Market Drivers:
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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https://www.thebusinessresearchcompany.com/report/artificial-intelligence-ai-in-packaging-global-market-report
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
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