The Internet of packaging market is projected to rise at a compound annual growth rate (CAGR) of 5.74% to reach a market valuation of US$27.184 billion by 2029, from US$18.395 billion in 2022.
The Internet of Packaging (IoP) seeks to develop intelligent and interactive packaging solutions by fusing internet-connected sensors and technologies with packaging materials. Packaging may now gather and share data, giving the supply chain and final customers useful information, due to IoP. This technology improves transparency, productivity, and customer experience in the packaging business by tracking product freshness, monitoring storage conditions, authenticating items, and even exchanging interactive information with customers.
Several factors are driving the IoP market's expansion. For instance, real-time tracking across the supply chain is made possible by IoP technologies like RFID and QR codes, which significantly contribute to consumer demand for transparency and traceability. Another important component is supply chain optimization, which is made possible by IoP and allows businesses to save expenses and increase efficiency by improving logistics and inventory control, delivery efficiency, and consumer satisfaction in light of the growing trend of online shopping.
As per the International Trade Administration, in 2022, an Israeli poll on e-commerce activity found that more than 48% of participants made weekly purchases online. According to estimates, the eCommerce sector would generate $11.83 billion in sales by 2027, up from $7.55 billion in 2023. eCommerce includes several industries, including travel, technology, food & drink, and fashion.
Moreover, market players in the internet of packaging market are using a range of strategies to capitalize on the market's growing potential. Various businesses are placing a high focus on innovation and investing in research and development to provide cutting-edge IoP solutions that meet shifting consumer and industry expectations.
Furthermore, the creation of intelligent packaging solutions that maximize material efficiency and reduce environmental effects is being fueled by sustainability initiatives. The adoption of IoP is further accelerated by integration with Industry 4.0 and digital transformation projects, which help businesses become more efficient and competitive in the market. The Fourth Industrial Revolution, or "Industry 4.0," is a new industrial system driven by technology and the desire to make the world more sustainable. It has been ushered in by the modern world. From $10.5 billion in 2011 to $103 billion in 2021, the domain has seen an increase in investments, with a predicted $200 billion worldwide investment by 2025. Technology innovation is the driving force behind Industry 4.0, which has the potential to significantly impact global challenges.
The foundations of Industry 4.0 adoption have been Made in India and Production Linked Incentives (PLI), which promote investment, innovation, and skill development to create a sustainable manufacturing infrastructure and attract businesses from various industries to produce in India.
The foundations of Industry 4.0 adoption have been Made in India and Production Linked Incentives (PLI), which promote investment, innovation, and skill development to create a sustainable manufacturing infrastructure and attract businesses from various industries to produce in India. Some predicted growth factors of Industry 4.0 technologies in India include Data Analytics (In 2021, the data analytics market grew by 26.5% to reach a valuation of $45.4 billion and is expected to grow substantially.), cloud computing (In India, cloud computing is a major factor in supporting Industry 4.0. With a predicted value of $10.8 billion by 2025, it continues to be a cornerstone of innovation and digital transformation.), Internet of Things (IoT) (By 2025, the Indian IoT market is projected to have grown from $4.98 billion in 2020 to $9.28 billion.), and 3D printing (It is anticipated that the 3D printing market in India will expand from $12.6 billion in 2020 to $37.2 billion in 2026).
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Market Size Value in 2022 | US$18.395 billion |
| Market Size Value in 2029 | US$27.184 billion |
| Growth Rate | CAGR of 5.74% from 2022 to 2029 |
| Base Year | 2022 |
| Forecast Period | 2024 – 2029 |
| Forecast Unit (Value) | USD Billion |
| Segments Covered |
|
| Companies Covered |
|
| Regions Covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Customization Scope | Free report customization with purchase |