The global Smart Packaging Systems market size was significantly robust in 2020 and is expected to register a steady revenue CAGR over the forecast period. Key factors driving market revenue growth are technological advancement and penetration of Internet of Things (IoT) in packaging solutions in various industry verticals. In addition, digitalization, enhanced tracking, improving operational efficiency, and better customer engagement are other key factors expected to drive demand for Smart Packaging Systems, and support market revenue growth.
The Smart Packaging Systems disrupts traditional packaging and allows consumers to communicate with companies more effectively. QR codes, smart labels, RFID, and Near Field Communication (NFC) chips are all used in Smart Packaging Systems. These cutting-edge technologies provide value by providing security, authentication, and connectivity, transforming product packaging into a data carrier and digital tool. Throughout the product’s lifecycle, this allows information about individual packages to be enrolled and updated in the cloud. Furthermore, Internet of things sensors and gadgets enable manufacturers to incorporate diagnostic and indicator functions into their packaging. This allows customers to see the product's status in real-time. Smart Packaging Systems offers significant solutions for consumer marketing and brand engagement, brand protection, tracking, process optimization, and other areas. There is no longer a value chain but have a value network as a result of the Smart Packaging Systems. The flow of information is no longer one-way.
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Revenue growth of the global Smart Packaging Systems market is significantly driven by rising concerns about reducing packaging costs while also improving logistics management, inventory efficiency, customer service, brand protection, and branding. Scanning the smart code directs the customer to a landing page with the product information they require. The code has far more information than what can be printed on a package. Top businesses are increasingly looking for ways to interact with consumers through their packaging, and unique codes enable them to do so as well as increase connectivity and customer engagement. Smart Packaging Systems also aids in better product tracking along the supply chain and can detect whether a product has been opened or tampered with in certain ways, which is expected to further boost revenue growth.
Competitive Landscape:
- Wiliot
- Tetra Pak
- Scanbuy, Inc.
- Kezzler
- Identiv, Inc.
- Unipac Corporation
- Vesta Smart Packaging Systems
- Sepio Products
- CuePath Innovation designs
- Tapwow
- Blippar
- Rover
- Insignia Technologies
- RePack
- IO
- The Porch Pod
- ColorSensing
- kaiosID
- Impacx
- RightMash
- QTrust
- Iungo
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The global market is further segmented into type and application:
Technology Deployed Type Outlook (Revenue, USD Billion; 2018-2028)
- Sensor Tags
- Barcode QR code
- Radio Frequency Identification
- Low-Energy Bluetooth
- NFC Technologies
- Indicators
Industry Verticals Outlook (Revenue, USD Billion; 2018-2028)
- Personal Home care
- Health care
- Food Beverages
- Automotive
- Consumer Electronics
- Others
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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