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Packaging Robots Market Set to Surpass Us $ 5 Bn by 2024

  • Date Submitted: 09/02/2016 12:12 AM
  • Flesch-Kincaid Score: 25.1 
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Transparency Market Research (TMR) delivers key insights on the global packaging robot market in its latest report titled ‘Packaging Robot Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024’. In terms of value, the global packaging robot market is projected to expand at a CAGR of over 14% during the forecast period (2016–2024), due to various factors, regarding which TMR offers vital insights in detail in this report.

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Growth in manufacturing sector coupled with increased demand of goods from consumers impelled industry operators to opt for large scale automation. As a result of this degree of automation in several industries particularly manufacturing facilities engaged consumer products scaled up. In addition, over past four to five years, packaging surfaced as one of the crucial factor for product sales, hence needed focus form goods and product producers. Consequently, an increased deployment of packaging robots experienced across all end use industries. A few of the end use industries approached packaging robot manufacturers with unique specification and functioning of picking, packing and palletizing robots to be deployed in their premise, which catalysed the trend for application specific packaging robots. Additionally, the associated benefits of installing robots in packaging line, such as lowering costs, increasing accuracy, and reduced product damage, is contributing to the growth of global packaging robots market. Nevertheless, sales of packaging robots increasing globally, but the challenge which needs to be addressed by packaging robot manufacturers is the high initial setup cost.   A large number of plant and facility operators are sceptic of deploying packaging robots due to high initial cost, where Chinese players are capitalizing the opportunity.   The published report by TMR details all the issues and challenges...


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