Global demand for electronic smart packaging devices to hit $1.7 billion in 2022
It reveals that the global demand for electronic smart packaging devices is currently at a “tipping point” and will grow rapidly from $0.03 billion in 2012 to $1.7 billion in 2022. The electronic packaging (e-packaging) market will remain primarily in consumer packaged goods (CPG) reaching 35 billion units that have electronic functionality in 2022.
E-packaging addresses the need for brands to reconnect with the customer. E-packaging addresses the fact that one third of us have difficulty reading ever smaller instructions.
Electronics is already used in packaging from winking rum bottles and talking pizza boxes to aerosols that emit electrically charged insecticide that is attracted to bugs.
But that is just a warm up. The key enabling technology - printed electronics - is about to reduce costs by 99%. Consequently, many leading brand owners have recently put multidisciplinary teams onto the adoption of the new paper-thin electronics on their high volume packaging. It will provide a host of consumer benefits and make competition look very tired. This is mainly about modern merchandising - progressing way beyond static print - and dramatically better consumer propositions.
All of these trends, including detailed ten year forecasts, are covered in the IDTechEx report, which reveals many ways in which brands can create a sharp increase in market share, customer satisfaction and profitability. To gain very high volume, and therefore lowest costs, by selling across all industries, basic hardware platforms such as the very low-cost talking label must be developed.