New Analysis from Global Industry Analysts Reveals Steady Growth for Corrugated Packaging Software, with the Market to Reach $17.6 Billion Worldwide by 2026
SAN FRANCISCO, March 21, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Corrugated Packaging Software - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 10; Released: February 2022
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Global Corrugated Packaging Software Market to Reach $17.6 Billion by 2026
Amid the COVID-19 crisis, the global market for Corrugated Packaging Software estimated at US$10.3 Billion in the year 2022, is projected to reach a revised size of US$17.6 Billion by 2026, growing at a CAGR of 13.5% over the analysis period. Packaged, one of the segments analyzed in the report, is projected to grow at a 14.1% CAGR to reach US$15 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Standalone segment is readjusted to a revised 12.1% CAGR for the next 7-year period. This segment currently accounts for a 27.5% share of the global Corrugated Packaging Software market. Standalone corrugated packaging software is also available, which can manage printing, folding and cutting of corrugated boards. However, packaged software solutions are cost-effective compared to standalone software solutions and hence end-users have been adopting corrugated packaging software on a large scale to manage their operations and gain huge profits.
The U.S. Market is Estimated at $2.3 Billion 2022, While China is Forecast to Reach $3.7 Billion by 2026
Growing demand for well-planned supply chain management is driving demand for corrugated packaging software. In addition, increased adoption of corrugated packaging by e-commerce vendors is another major factor driving growth. E-commerce dealers usually prefer customized corrugated boxes that have their brand name and logo printed on them. This is another reason for the increasing demand for software tools in small- and large-scale sectors. As e-commerce sales begins to boom supported by the pandemic, there is increasing need for corrugated boxes. Integration of ERP with corrugated packaging software is expected to generate additional opportunities in the market in the future. In addition, strong demand from end-use industries such as food & beverages, personal, care, healthcare, pharmaceuticals, consumer goods and electronic goods is also expected to contribute towards market growth in the coming years.
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SOURCE Global Industry Analysts, Inc.