Report : South America Packaging Robots Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Industry Verticals (Food & Beverages, Pharmaceuticals, Consumer Electronics, and Others) and Application (Primary Packaging, Secondary Packaging, and Tertiary Packaging)
The food & beverages segment by industry verticals is estimated to lead the market growth during the forecast period.
According to a new market research study of “South America Packaging Robots Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Industry Verticals, Application, and Country.” The South America packaging robots market is expected to reach US$ 596.06 million by 2028 from US$ 288.51 million in 2021; it is estimated to grow at a CAGR of 10.92% from 2021 to 2028. The report highlights trends prevailing in the South America packaging robots market and the factors driving market along with those that act as hindrances
Growing customer demand for high-quality goods has resulted in advancements in manufacturing technology. The food and beverage, trucking and logistics, and fast-moving consumer goods (FMCG) businesses are all focused on getting products to customers in a short amount of time, which has boosted robotic packaging use. Packaging robots has been a great potential in food and beverage industry. The deliberate integration of technology across various processes in the food and beverage industry is known as automation. Food firms are adopting vision-directed robotic arms, automated guided vehicles, delta robots, and advanced inspection systems to streamline and optimize their processes. Moreover, the perception among industries to substitute manual labor with automation is gaining more traction. Automated robots do not get sick or slack off, works faster than humans. Coupled with these factors the on-job performance by automated robot is always consistent, productive, and error-free. Therefore, their demand across the manufacturing industry is increasing. Additionally, due to the rapid growth of the e-commerce sector, picking and placement is the fastest growing application, and the e-commerce industry accounts for the majority of demand for packaging robots. Picking robots are commonly used in the e-commerce industry for order fulfilment as manually picking of items is associated with lot of time and cost. High growth of e-commerce industry across the globe is another major factor propelling the growth of picking and packaging robots. E-commerce industry is expected to grow at a robust growth rate at ~20% over next couple of years Factors such as expanding Internet and smartphone usage, increasing reliance on social media to promote e-commerce platforms, growing omni-channel business models, and the introduction of new payment mechanisms are all driving the e-commerce sector. Also, automation provides enormous growth prospects for businesses in the e-commerce industry. As a result, the packaging robot market will grow in tandem with the e-commerce industry. Furthermore, the demand for and sale of industrial packaging robots is expected to increase as firms place a greater emphasis on precision, speed, and quality in supply chain activities. In addition, as the level of automation across a range of end-use industries grows, autonomous robots have the ability to construct an upward growth trend in developing countries. Lastly, practicality and innovation may open up new application zones, ushering in the 2.0 wave of the current phenomenon.
Brazil recorded the highest number of COVID-19 confirmed cases across South America in 2020, followed by Ecuador, Chile, Peru, and Argentina. To curb the spread of the virus, all economic activities in the region were partially halted. COVID-19 pandemic severely affected the sales of automation solutions, such as robotics. The long-term demand prospects are expected to show considerable growth as governments prioritize the adoption of automation in South America by focusing on new edge technologies, such as Artificial Intelligence, machine learning, deep learning, 3D printing, and machine vision. These factors are likely to drive the South America packaging robots market growth in the next three to four years.
Based on industry verticals, the South America packaging robots market is segmented into food & beverages, pharmaceuticals, consumer electronics, and others. Based on application, the South America packaging robots market is segmented into primary packaging, secondary packaging, and tertiary packaging. Geographically, the South America packaging robots market can be segmented into Brazil, Argentina, and Rest of South and Central America.
ABB, Fanuc Corporation. Krones AG, Kuka AG, Mitsubishi Electric Corporation, Syntegon Technology GmbH (Bosch Packaging Technology), Schneider Electric SE, Yaskawa Electric Corporation are among the leading companies operating in the South America packaging robots market.
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