Electronic Goods Packaging Market Insights and Industry Analysis by Material (Corrugated Boxes, Foamed Plastic, Paperboard, and Bubble Packaging), by Product Size (Small Appliances and Large Appliances), by Technology (Authentication Packaging and Track and Trace Packaging) by Application (Communication Equipment, Business Electronic Equipment, Small Home Appliances, And Large Household Appliances) and Region, Competitive Market Size, Share, Trends, and Forecast to 2027
New York, US, May 31, 2022 (GLOBE NEWSWIRE) -- Electronic Goods Packaging Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Electronic Goods Packaging Market Information by Material, Product Size, Technology, Application, and Region - Forecast till 2027”, the market is estimated to grow at a 8.1% CAGR to reach USD 54,104.3 Million by 2027.
Electronic products such as TVs, tablets, smartphones, set-top boxes, and digital media adapters employ efficient electronic and semiconductor packaging to protect against electrostatic discharge, water, severe weather, corrosion, and dust. It is employed in various army and aerospace facilities containing semiconductor devices, such as information screen systems, information handling units, and aircraft control units since it allows for reduced board area, weight, and PCB routing complexity.
The acceptance of e-commerce and the rapidly developing electronic goods sector have raised the demand for packaging products and alternatives. As cross-border shopping becomes popular, so does the demand for high-quality and effective packaging. Electronic packaging is known as the design and manufacture of enclosures for electronic equipment ranging from single semiconductor devices to full systems, such as a mainframe computer.
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Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Material, Product Size, Technology, Application, and Region
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Increase in demand for consumer electronics
Technological advancement along with rising trends of digitization
The prominent companies in the electronic goods packaging market are:
Universal Protective Packaging Inc. (US)
Goldfoam SP. ZO.O (Porto)
New electronic gadgets based on breakthrough materials and technologies emerge as electronic components become integrated. The size of electronic components is getting smaller, and board alignment is getting more sophisticated; thus, electrostatic, moisture-proof, mechanical, and other package protection is becoming more important. The demand for high-quality military-grade packaging in the aerospace and defense sector for satellite communication on-board channels, naval warships, weapon control systems, data display systems, and aircraft guidance-control assemblies, on the other hand, is driving the electronic packaging market revenue. The growth of the IoT network market and continuous R&D investments to enable more productive electronic and semiconductor packaging are likely to open up new opportunities for the electronic packaging sector.
Even as digital technology changes packaging, the electronic sector is rapidly evolving. Businesses can use digital transformation to empower people, engage customers, improve processes, and transform goods. The packaging industry will be able to realize its full potential as the supply chain becomes digital.
Businesses in the consumer-packaged goods industry constantly attempt to innovate to meet shifting customer expectations and differentiate their products. Innovative packaging provides them with such platforms by exploiting the package's size, shape, color, and usefulness. Packaging companies are concerned about keeping up with technological advancements. Manufacturers will need to invest in new equipment and infrastructure to manufacture imaginative package designs like those. With technology, a comprehensive approach would be necessary. Every step of the purchasing process will require automation.
Browse In-depth Market Research Report (171 Pages) on Electronic Goods Packaging: https://www.marketresearchfuture.com/reports/electronic-goods-packaging-market-3118
COVID-19 has significantly reduced the demand for electronic product packaging solutions in the industrial sectors. The COVID-19 epidemic has caused a drop in demand for semiconductor-based products. Due to the lockdown situation, device manufacturing has come to a halt. The worldwide electronic packaging market's whole supply chain has been disrupted due to this. Due to considerable developments in on-premises and off-premises operations, the packaging industry likewise sees mixed influence. Many food chain locations, such as restaurants and cafes, have completely shuttered in numerous nations, significantly harming the packaging sector. Due to the workforce and raw material shortages, and other issues, industrial plants have closed.
Due to limits on public meetings, tourism activities, and outings, the packaging industry is seeing a decline in demand for electronic product packaging solutions, while the demand for cosmetics is much higher. Furthermore, the growing demand for products through e-commerce and online businesses contributes to the overall expansion of the packaging sector.
Corrugated boxes are ideal for packing fragile objects because of their structural rigidity and cushioning characteristics. As a result, it will be the segment's leader.
In the forecast period, the small appliance segment will be propelled by increased demand for tablets, portable speakers, smartphones, headphones, and e-readers.
Some of the track and trace packaging technologies in high demand in the market include bar code labels, barcode technology, and RFID technology.
The electronic business equipment and big household appliances categories are expected to demonstrate the highest promise in the projection term.
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In terms of revenue, Europe is the second-largest market in the world. However, during the forecast period, the market is expected to increase steadily. This is because the consumer electronics industry in Europe has grown, and a high-tech networking environment backs it. Smart workplaces and smart homes are increasing demand for consumer electronics products like smart TVs, smart refrigerators, smart air conditioners, and more as technology advances. Consumers' increased personal disposable income and shifting tastes toward smart homes and smart offices are thus fueling the industry's growth.
Asia-Pacific dominates the market, and it is expected to grow at the fastest rate during the forecast period. Due to expanding disposable income and the fastest-growing population, consumer goods sales in this region are increasing exponentially. The cost of middle-class homes has skyrocketed, resulting in a surge in demand for domestic electronic devices. The need for business-to-business electronics such as computers, laptops, LCD displays, conference projectors, and others is also increasing. The electronic packaging market has enormous growth potential since China is regarded as the world's electronic centre due to the mass production and manufacturing of electrical components and electronics products to satisfy the highest quality standards, efficiency, and delivery.
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