Emergence of IoT and Global Digital Packaging Market
Published on : Tuesday 30-11--0001
Moiz Adenwala elaborates upon how emergence of Internet of Things (IoT) bodes well for global digital packaging market.
Internet of Things has revolutionised several industry operations, and one of the major benefiters is logistics and packaging. The global digital packaging market has grown tremendously in the last few years, and is predicted to remain vibrant in the next few years.
Digital packaging is incorporating a sensor or a digital tool that helps in identifying a package and tracking its status. It also involves placing printed material on the package that can be used for detection. Widespread technological developments are primarily augmenting growth of the global digital packaging market.
While the emergence of internet of things has boosted growth, what are the other factors propelling the global digital packaging market?
- Penetration of internet to the remotest corner has enabled logistics management organisations to provide access to consumers about the status of their packages. It has also facilitated easy detection of items, and segregate them at a faster rate. This has helped speed up delivery of products. These factors are considered favorable for the global digital packaging market.
- Digital packaging products are extremely useful where large volumes of packages are transported. It facilitates maintenance of data of the packages, helping manufacturers track them in case of theft or loss. This makes it ideal for courier and parcel services, mailing services, and other logistic companies to process deliveries faster, another positive for the global digital packaging market.
- Food industry has benefited from digital packaging, too. With food delivery applications promising delivery in short time, it’s easier now for customers to track their order. Food outlets place an RFID code for the same. Such extensive use of RFID tech also propels growth in the global digital packaging market.
- Another promising application of digital processes is in the electronics industry. Most electronics manufacturers provide a QR code on the product box, which upon scanning with a mobile phone displays all necessary product information. The sky-rocketing sales of electronics is a big bonus for the global digital packaging market.
- Further, it has provided a fresh dimension to marketing. Big brands are placing digital sensors or QR codes on packages, and are engaging customers with attractive marketing and advertising strategies. It has helped improve customer engagement. With customer experience gaining impetus, the global digital packaging market will also grow in the coming years.
- Digital packaging also finds interesting applications in the pharmaceutical market. Consumers are able to set medication reminders, track hydration levels, temperature, and other parameters. Such medicines are packed in smart bottles. The growth in pharmaceutical industry in the past few years is a positive trend for the global digital packaging market.
- Printing on multiple types of packaging materials can be a constraint. There is one format of printing that suits multiple applications. However, technological advancements are likely to resolve this issue soon.
- Regionally, the North America and Europe are expected to hold the largest share of the global digital packaging market. Rapid technological advancements, awareness levels among people, and penetration of internet, are favoring growth of the market in this region. Asia Pacific will emerge in the coming years as developing economies like India and China show massive progress in digitisation.