Lewes, DE -- (SBWire) -- 02/13/2017 --Worldwide Electronic Smart Packaging Market to grow at a CAGR of 45.5% during the period 2016–2022 to aggregate $1,700.8 million by 2022, Increasing adoption of IoE, wireless communications, and cloud computing is driving the fastest growing electronic smart packaging market; leading technology segment, NFC is expected to grow at a CAGR of 46.0% to reach $344.4 million by 2022.
Global market research and consulting organization, has published a study titled "Worldwide Electronic Smart Packaging Market – Drivers, Opportunities, Trends, and Forecasts, 2016–2022" (July 2016).
According to Publisher, the countries across the world are developing various smart initiatives such as smart homes, smart cities, smart lighting and much more. Along with these smart initiatives, smart packaging is considered as one of the fastest growing segments with evolving technologies. Increasing adoption of IoE and investment in the printed electronics will have a positive impact on the smart packaging market.
In order to improve supply chain, customer loyalty and company's brand, packaging industries along with other companies and institutes are working together to integrate printed electronics in smart packaging. The electronic smart packaging can be used to send sound, light, display or electronic signals. This makes the packaging more attractive, secure and highly interactive. The "Worldwide Electronic Smart Packaging" market is expected to grow at a CAGR of 45.5% during the period 2016–2022 to touch an aggregate of $1,700.8 million by 2022. The new printed electronic technology in packaging will support various packaging substrates to bring down the cost of packaging as well. The low cost and electrical function/optical ink will drive the market in the coming years. The electronic smart packaging market is expected to grow due to the increasing demand for consumer goods, increase in the population, lack of organic products, and reduction of life span of food products and low-cost electronics.
"Electronic smart packaging is definitely going to enhance the customer experience and lead to huge brand building and innovation. Suppliers of electronic materials, graphics, and CPG could mutually benefit each other and become valued partners among the ecosystem."
"The usage of electronic devices is increasing over the years and there is a growing interest for printed electronics in smart packaging due to its flexibility, thin, display and lightweight nature. The electronic smart packaging is at the initial stage and will provide high-quality services and improved efficiency to the end-users. It is expected that there will be increased investment in the development of electronic smart packaging in the next 5 years."
The research report is segmented by technologies, applications, end-users and regions. The NFC technology is expected to grow at a CAGR of 46.0% to reach $344.4 million by 2022. The technology can be embedded in a chip on the packaging or applied as a printed sensor. Usage of smartphone helps the customers in authenticating the products. At present, there are not many smartphones embedded with NFC technology. It is expected that by 2018, nearly 1.2 billion NFC-enabled smartphones will be shipped.
As per the end-user analysis, food and beverages industries are expected to outperform and reach $615.0 million and $312.3 million respectively by 2022. The beverages industry has become more attractive towards printed electronics where packaging industries are aggressively investing and creating more attractive products in this sector. Moreover, within few years, printed electronics adoption rate is expected to grow further in the developing countries and developed countries as well and thus, will have a positive impact on electronic smart packaging. In addition, personal care and logistic industries are set to be the emerging end-users for electronic smart packaging market in the next 6–7 years.
As per applications, printed sensor and printed RFID are expected to grow tremendously and reach $685.9 million and $344.2 million respectively by 2022. The printed electronics applications are already available in the market but new and more advanced products are also rapidly being developed. Thin Film and other major players in the market are collaborating to produce smart printed chips for packaging.
As per the study, Europe is set to be the leading region for electronic smart packaging market followed by North America and Asia Pacific. The Middle East & Africa and Latin America are set to be the emerging regions for electronic smart packaging market growth. The rising awareness of printed electronic technologies in smart packaging, increasing spending on IoE technologies, and rising mobile subscriber base in the developing countries are expected to drive the market growth in the upcoming years.
The report aims to highlight key insights from providers and end-users. The report provides an in-depth analysis and forecast about the industry covering the following key features:
- Electronic smart packaging market analyzed based on technologies: RFID, NFC, EAS and BLE
- Electronic smart packaging market analyzed based on applications: printed RFID, printed sensors, printed light, printed touch and printed antennas
- Covers the end-user segments including food, beverages, healthcare, personal care, logistic and industry machineries
- An in-depth analysis of the emerging regions and end-users for electronic smart packaging adoption in the next 6–7 years
- Usage and adoption of printed electronic in smart packaging in each end-users
- Provides an in-depth analysis of the key business opportunities in each end-users
- The analyst has rated top five vendors Vis-a-Vis end user inputs on key factors and also, the names of all the providers present in the market
For more information Visit at: http://www.marketresearchreports.com/infoholic-research/worldwide-electronic-smart-packaging-market-technologies-applications-end-users
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