Today, manufacturers attempt to be adaptable to the changing trends to stay competitive. Thanks to the constant growth in the manufacturing sector, the packaging industry is experiencing rapid expansion. As far as the packaging market is concerned, packaging robots are the new trend. A recently published report by Transparency Market Research (TMR) states that the global packaging robot market is predicted to grow at a 14.0% CAGR during the period between 2016 and 2024.
TMR analysts answer a few key questions related to the global packaging robot market:
Q. How do packaging robots assist the packaging and manufacturing industries?
A. In recent years, the manufacturing industry has been emphasizing on the adoption of processes that are safe, efficient, and precise. Today, the use of robots has become an essential part of packaging operations. Packaging robots not only assure cost savings but also help achieve daily operations smoothly and efficiently by reducing manpower. Packaging robots have already started bringing positive results to manufacturers and this trend is expected to gain more momentum in the near future. By being cost-effective and flexible, packaging robots have already worked many wonders for the packaging sector. According to an article published by Bosch, the deployment of delta robots in packaging lines can bring full ROI in between 12 and 18 months.
Q. How will the use of packaging robots change the world for manufacturers?
A. Owing to their increasing demand, manufacturers of packaging robots are planning to introduce new robots with advanced features such as higher precision, incased operational speed, and efficiency. The use of packaging robots will certainly simplify many tasks such as picking, placing, tray packing, palletizing, case packing, de-palletizing, and filling.
IRB 1600, IRB 260, M-1iA, M-2iA, Quantec PA arctic, and D3 Robotic are among the new inventions in the global packaging robot market. Manufacturers of newly introduced packaging robots say that these flexible robots have the capacity to revolutionize production, especially for the smaller companies.
The low-priced packaging robots are a boon for small-sized and medium-sized companies, thus they are capable of benefiting the global packaging robot market.
Q. What drives and restricts the current global packaging robot market?
A. For many years now, packaging has been regarded as a crucial element for product sales and thus requires more focus from goods producers. Thus, an increased adoption of packaging robots has been experienced since the last five years. With this, the global packaging robots market has scaled up. The increasing accuracy, reduced product damage, and high return on investment are some of the factors expected to propel the demand for packaging robots.
Moreover, the demand for packaging robots is expected to be the highest from end-user industries such as food and beverages, chemical, and pharmaceutical. At the same time, the challenges faced by the global packaging robot market are not to be overlooked. The high initial setup cost is expected to hamper the growth of the global packaging robot market in the years to come. Going forward, the global packaging robot market will have to tackle another important challenge of unemployment that might be caused due to the increasing use of packaging robots and automation.