Market Overview:
The Global Internet of Packaging Market size was reasonably estimated to be approximately USD 23970 Million in 2023 and is poised to generate revenue of over USD 47850 Million by the end of 2030, projecting a CAGR of around 10.30% from 2023 to 2030.
The Internet of Packaging (IOP) is the term used to describe the incorporation of connectivity and digital technology into packaging solutions. It requires integrating smart sensors, RFID tags, and other devices into packaging materials to facilitate communication and data exchange between the package and the environment. Due to growing concerns about packaging cost reduction, better logistics management, increased inventory efficiency, better customer service, trademark protection, and successful branding initiatives, the global Internet of Packaging (IOP) market is expanding significantly.
Top Key Players for the Internet of Packaging Market:
Avery Dennison Corporation (US), Smartrac N.V. (Netherlands), BASF SE (Germany), Thin Film Electronics Asa (Norway), Stora Enso Oyj (Finland), Tetra Pak (Switzerland), Kezzler (Norway), Digimarc Corporation (US), Evrythng Limited (UK), Thinfilm Electronics Ab (Sweden), Scanbuy Inc. (US), Identiv Inc. (US), Smartglyph Ltd. (UK), E Ink Holdings Inc. (Taiwan), Paksense Inc. (US), Schreiner Group Gmbh & Co. Kg (Germany), Smart Label Solutions (Spain), Gao Rfid Inc. (Canada), Systech International (Us), Tracelink Inc. (US) and Other Major Players
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The report summarizes all the information collected and serves the customer’s requirements. However, these market analyses help in understanding market growth at both global and regional levels. For market data analysis, we have market panorama tools such as Market Dynamics, Competitor Analysis, PESTEL Analysis, SWOT Analysis, Porter Five Forces Analysis, Value Chain Analysis, Technology Roadmap and Evolution, Regulatory Framework, Price Trend Analysis, Patent Analysis, Covid-19 Impact Analysis, Russia-Ukraine War Impact and others.
Market Dynamics and Factors for the Internet of Packaging Market:
Drivers:
Demand for Internet of Packaging in E-Commerce
An innovative concept called the “Internet of Packaging” (IoP) combines packaging components with Internet of Things (IoT) technology to provide smart, connected packaging solutions. Although the IoP has several uses in a variety of sectors, e-commerce has been a key factor in its commercial expansion. The packaging, shipping, and consumer delivery of goods has all undergone radical change as a result of the growth of e-commerce. As more people purchase online, there is an increasing need for effective and safe packing solutions that may improve the e-commerce experience.
Opportunities:
Integration of Innovative Technologies
The Internet of Packaging (IoP) sector has a lot of prospects thanks to the integration of cutting-edge technology. As IoP develops, smart packaging solutions’ capabilities are improved by the use of cutting-edge technology, creating new opportunities and advantages. IoT advancements in connection, miniaturization, and energy efficiency present the potential to increase the performance and usefulness of IoP systems.
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Segmentation Analysis of the Internet of Packaging Market:
By Technology Deployed, the Sensor & Tags segment is expected to maintain its dominance in the Internet of Packaging (IoP) market throughout the forecast period. This is due to the pivotal role that sensor and tag technologies play in facilitating intelligent and interconnected packaging solutions.
By Industry Verticals, Food & beverages is the dominating segment, Application of Internet of packaging technologies in the food and beverages sector enables the correct food safety breaches and offers the end-users accurate product-related information. It is also cost-effective and minimizes the time required to detect an event, track food safety, and save money.
By Technology Deployed
- Sensor & Tags
- Barcode & QR code
- Radio Frequency Identification
- Low-Energy Bluetooth
- NFC Technologies
- Indicators
By Industry Verticals
- Personal & Home care
- Health care
- Food & Beverages
- Automotive
- Consumer Electronics
- Others
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Regional Analysis of the Internet of Packaging Market:
Asia Pacific is expected to dominate the Market over the Forecast Period. There is a sizable customer base in the Asia Pacific area, which includes both developed and growing economies. The need for creative packaging solutions is being fueled by growing disposable incomes, urbanization, and shifting consumer tastes in nations like China, India, Japan, and South Korea. The huge business potential for IoP technology and solutions is created by this expanding customer base.
- North America (U.S., Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
Key Industry Development:
In May 2023, the Collaboration project shown multi-layer packaging can be separated and recycled on an industrial scale. A collaboration project involving the companies BASF, Krones, SÜDPACK, and TOMRA demonstrated that it is possible to separate PET/PE multi-layer packaging into its components and return them to the materials cycle as raw materials.
In June 2021, establishing its emergence as a leading innovator in the solid-state micro battery market, Thinfilm announced that it will become Ensurge Micropower ASA. This new identity builds on the company’s fundamental transformation and reflected its differentiation and rapid progress in technology, product, and manufacturing innovation.
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