Artificial Intelligence
Packaging Tensioner Market Poised to Reach US$ 1.6 Bn by 2032 at 4.8% CAGR – Report by Future Market Insights, Inc.
NEWARK, Del, July 13, 2022 (GLOBE NEWSWIRE) — As per Future Market Insights (FMI), the packaging tensioner market is projected to grow at 4.8% CAGR between 2022 and 2032, surpassing a valuation of US$ 1.6 Bn by 2032. A packaging tensioner is the cord strap packaging tool used in different packaging industries to seal the strap tightly to have a longer shelf life. This tool secures a package or pallet of products by tightening bands of flat steel or plastic around it and fastening them together.
Packaging tensioners are made from heavy material, which helps them work at optimum capacity for a longer duration. It can also secure straps at difficult and odd angles and are suitable for a wide range of horizontal and vertical strapping applications to secure the load.
A packaging tensioner is extensively utilized in the packaging industry used in multiple applications such as consumer goods, merchandise products, food and beverages. Strapping the product during shipment adds an element of additional containment to packaging, as it provides extra strength to the packaging.
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The protection of merchandise products requires a tensioner to hold, combine and stabilize the product. These tools are most commonly used for transporting packed goods when the machine forms a strap or band that binds the products or goods together.
Over the projected period, the rising need for safe shipping of various products from end use segment such as food and beverages, logistics, etc. are accelerating the demand for packaging tensioner market.
Key Takeaways from Packaging Tensioner Market
- By material, plastic tensioners are expected to hold almost 60.4% of the market share by 2032 due to its lightweight and elongation, which allows them to stretch tighter when needed.
- The battery-operated packaging tensioner is expected to accelerate at a CAGR of 5.1% between 2022 and 2032 as it allows to strap up more packages and save business time compared to manual tensioners.
- India packaging tensioner market is expected to grow 2.0 times of its size by the end of 2032.
- The U.S. packaging tensioner market is expected to witness incremental $ opportunity of US$ 37.4 Mn by the end of forecast period.
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“The rising industrial automation coupled with increasing demand for effective packaging solutions along with growth in various end use industries such as food & beverage, industrial logistics & warehouse is expected to create market opportunities for the packaging tensioner market.” – Comments FMI analyst
Increasing Demand for Corrugated Box Packaging in Various Industries is Giving Rise to Usage of Straps and Strapping Tools
According to International Corrugated Case Association, Asia was the leader in the global corrugated production and shipments, accounting for more than 120 Bn square metres, in 2017. With over 6 Bn M Sq. (22.2% of the market) manufactured and transported, Europe stood as the second-largest manufacturer. The production and demand for corrugated packaging have improved two folds since 2017 and are expected to generate lucrative investment opportunities for stakeholders in the coming years. This is expected to boost the sales of straps and strapping tools, hence improving the overall packaging tensioner market.
Significant Growth in the Logistic Industry Leads to Surge in Demand for Packaging Tensioner Market
Packaging tensioners are convenient and useful, especially in transportation, manufacturing, and retail. The logistics industry observed a hike, which is a major reason that is driving the market growth of packaging tensioners. Manufacturers are using tensioner tools as it is a reasonable way to boost the productivity of the warehouse or production floor.
An automatic tensioner can double or triple the output of a product ready to transport and save the cost of human labour. As the logistics industry is developing while adopting the latest technology, such as artificial intelligence, robotics, and others, the demand for packaging tensioners tends to rise for effective packaging.
Impact of COVID-19 on Packaging Tensioner Market
Industries were making rapid growth toward their sustainability targets before COVID-19. The pandemic, on the other hand, has had a negative impact on a variety of companies around the world, particularly the packaging industry. The packaging enterprises were developing new technologies that were environmentally friendly, reusable, and recyclable, but the change in consumer preference and concerns about the safety and cleanliness of reusable packaging temporarily affected the development dynamics of the packaging industry. The pandemic has brought a surplus of shifts in consumer shopping behavior.
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The supply chain was negatively impacted and had a negative impact on the packaging tensioner market because transportation and logistics were unavailable during a pandemic due to a lockdown imposed by government as the core purpose of the logistics and transportation industries was to package goods and supplies. Following the pandemic, packaging enterprises are adjusting to sustainability goals that include improved hygiene, standardized e-commerce, and lower product costs. Because these new trends will highlight customers’ needs across the business, the impact of the pandemic will have a positive influence on performance. Furthermore, as e-commerce industries improve their logistics, packaging tools and equipment will be more widely used, ultimately boosting the market growth of packaging tensioners.
Packaging Tensioner Market Landscape
Some of the players operating in the global packaging tensioner market are FROMM Packaging Systems, Dynaric, Inc., North Shore Strapping Inc., Samuel Packaging Systems Group, Transpak Equipment Corp, Tiger Pack, Inc., Venus Hartung Pty Ltd., Wenzhou Zhenda Packing Machine Co., Ltd., Sal-Tech Easy Packaging, Yang Bey Industrial Co., Ltd., Signode India, ASN Packaging Private Limited, Mandsorwala Packaging, KGN Enterprises, Sai Packaging Industries, TITAN Umreifungstechnik GmbH and Co. KG, Polychem Corp., Teknika Strapping Systems and Vijay Enterprise.
Packaging Tensioner Market by Category
By Material:
- Plastic
- Polyester
- Polypropylene
- Metal
- Steel
- Aluminium
By Operation:
- Manual
- Battery-operated
By End Use:
- Food & Beverages
- Pharmaceuticals
- Chemicals
- Building & Construction
- Agriculture
- Automotive
- Logistics & Transportation
- Homecare
- Others (Textile, Cosmetics & Personal Care)
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
Get detailed TOC @ https://www.futuremarketinsights.com/toc/rep-gb-15182
About the Packaging Division at Future Market Insights
The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
Have a Look at Related Research Reports of Packaging Domain
Advanced Composites Market Share: The advanced composites market is anticipated to have a thriving CAGR of 9.2% during the forecast period of 2022-2032.
Silicone Elastomers Market Size: The silicone elastomers market was worth USD 5.74 billion in 2022, and it is expected to grow at a compound annual growth rate (CAGR) of 10.3% between 2022 and 2032 and to reach USD 15.29 billion by 2032.
PET Blow Molder Market Trends: The North American PET blow molder market is estimated at US$ 49 Mn in 2022 and is projected to reach US$ 57.3 Mn by 2026, at a CAGR of 4.0% from 2022 to 2026.
Collapsible Sleeve Containers Market Outlook: The global collapsible sleeve containers market is poised to be worth US$ 7.2 Bn by the year 2030 at a CAGR of 4.6% between 2020 and 2030.
Pharmaceutical Plastic Packaging Market Demand: The pharmaceutical plastic packaging market is projected to progress to US$ 83.9 Bn by the year 2030 at a CAGR of 5.8% between 2022 and 2030.
Plastic Pails Market Growth: The global plastic pails market is estimated at US$ 1,223.6 Mn in 2022 and is projected to reach US$ 1,743.1 Mn by 2030, at a CAGR of 4.5% from 2022 to 2030.
Cheese Packaging Market Type: The global Cheese Packaging Market is projected to grow at the rate of 5.6% between 2022 and 2029. Along these lines, the market is likely to be worth US$ 5.3 Mn by the year 2029.
Global Acrylic Airless Bottle Market Analysis Forecast: The global acrylic airless bottle market is expected to register a CAGR of 6% during the forecast period.
Multilayer Flexible Packaging Market Sale: The global multilayer flexible packaging market is expected to move out of the rigid zone between 2022 and 2029, reaching US$ 210 Bn by the year 2029. The CAGR expected is 3.5%.
PLA Cup Market Value: The global sales of PLA cups are projected to grow at a CAGR of around 5.2% over the forecast period from 2022 to 2032.
Download complimentary copy of Future Market Insights White Paper on Intelligent Packaging for Circular Economy published in collaboration with Graham Packaging and Avery Dennison
About Us
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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Artificial Intelligence
Simplilearn and Degreed Collaborate to Transform Workforce Development with AI-Enhanced Learning
SAN FRANCISCO, Oct. 2, 2024 /PRNewswire/ — Simplilearn, the world’s leading digital skills training provider, and Degreed, the innovative learning platform, today announced their strategic partnership to offer premier educational content and platform solutions that drive skills-based learning. This collaboration introduces Simplilearn as one of the first to join Degreed’s AI-Ready partner category, integrating Simplilearn’s extensive educational offerings with Degreed’s advanced learning solutions to deliver transformative learning experiences for individuals and enterprises.
Simplilearn has been at the forefront of digital skills training for over a decade, supporting professionals and organizations worldwide with holistic learning experiences that are instructor-led and hands-on. Their comprehensive range of high-quality courses in artificial intelligence, machine learning, cloud computing, data science, and digital marketing is now seamlessly integrated into the Degreed platform. This AI-powered integration equips Learning & Development (L&D) professionals with a more targeted curation experience, simplifying the creation of personalized learning plans and development pathways tailored to the evolving needs of their teams and organizations.
As technology rapidly transforms industries and reshapes job roles, the demand for advanced, practical training is at an all-time high. Degreed’s ‘AI-Ready’ partner category makes it easier for customers to discover, organize, and access relevant learning materials. Through this partnership, a comprehensive suite of courses and resources is more easily discoverable, empowering individuals and organizations to upskill and stay competitive in the fast-evolving tech landscape.
Leveraging AI, the platform will offer personalized course recommendations based on each learner’s background and experience. This intelligent approach ensures that training is relevant and aligned with individual career goals and organizational needs. Additionally, the collaboration offers access to over 700 live classes each month, keeping teams updated with the latest industry trends and technological advancements. Complementing these live sessions are more than 500 courses and role-based learning paths covering essential areas such as AI, cybersecurity, data science, and machine learning.
Mr. Krishna Kumar, Founder and CEO, Simplilearn, said, “Partnering with Degreed represents a pivotal moment in our journey at Simplilearn. This collaboration underscores our commitment to harnessing cutting-edge technology and tailored learning experiences. By integrating Degreed’s advanced AI capabilities with our industry-leading programs, we are poised to redefine how individuals and organizations approach skill development, ensuring a more agile and role-ready workforce.”
Mr. Max Wessel, co-CEO of Degreed, said, “Our partnership with Simplilearn shows our dedication to equipping professionals with the most relevant skills for today’s fast-paced technology landscape. By using AI to power the integration of Simplilearn’s top-tier courses into Degreed, we enhance our ability to offer personalized, precise, and high-impact learning experiences – helping organizations turn the talent they have into the talent they need.”
About Degreed:
Degreed is the enterprise learning company, offering the world’s leading experience platform to drive skill driven development. Degreed enables organizations to collect, understand, and build skills to develop a workforce that’s ready for anything. To learn more about Degreed, visit www.degreed.com.
About Simplilearn:
Founded in 2010 and based in San Francisco, California, and Bangalore, India, Simplilearn, a Blackstone portfolio company, is the world’s leading digital skills provider, enabling learners across the globe. Simplilearn offers access to world-class work-ready training to individuals and businesses worldwide. Simplilearn offers 1,500+ live classes each month across 150+ countries, impacting over 8 million learners globally. The programs are designed and delivered with world-renowned universities, top corporations, and leading industry bodies via live online classes featuring top industry practitioners, sought-after trainers, and global leaders. From college students and early career professionals to managers, executives, small businesses, and big corporations, Simplilearn’s role-based, skill-focused, industry-recognized, and globally relevant training programs are ideal upskilling solutions for diverse career or business goals.
For more information, please visit www.simplilearn.com/
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Artificial Intelligence
Multinational Auto Manufacturer to Insource Service Operations with 3CLogic’s Integrated AI and Contact Center Solution for ServiceNow CSM and ITSM
Leading conglomerate selects 3CLogic’s CCaaS offering, purpose-built for ServiceNow CSM and ITSM, as it insources service desk operations to streamline workflows and save millions in operating costs.
ROCKVILLE, Md., Oct. 2, 2024 /PRNewswire/ — 3CLogic, the leading AI and cloud contact center solution for ServiceNow®, today announced the integration of its AI and CCaaS capabilities by a leading auto manufacturer as it seeks to optimize its service desk operations. Leveraging the company’s existing investment in ServiceNow IT Service Management (ITSM) and Customer Service Management (CSM), the collaboration is expected to enhance productivity, improve issue resolution, and significantly reduce operating expenses.
Manufacturing tens of millions of vehicles and equipment annually, supported by a vast network of over 150,000 associates and affiliates, the organization faced challenges due to the limited insights and services provided by its outsourced contact center. Among the most impactful was the lack of integration to its back-office ServiceNow IT and Customer workflows, where the siloed structure negatively impacted the organization’s visibility into performance, process improvements, and service speed.
“We are delighted to support this strategic initiative,” explains Denis Seynhaeve, CEO at 3CLogic. “This is yet another example of a large enterprise organization eager to reclaim ownership of its internal and external support services to enable better experiences through automation, simplification of its technology stack, and tactical use of AI for better insights.”
3CLogic’s integrated AI and contact center solution with ServiceNow CSM and ITSM will deliver a number of capabilities, including AI-powered call transcription and sentiment analysis, automated agent performance and coaching, after-hours voicemail transcription, integrated SMS alerts & notifications, and consolidated reporting with ServiceNow’s native performance analytics. The insourcing of services and process efficiencies are expected to generate approximately $2.6 million in ROI within the first three years of deployment. In addition, the organization is exploring the consolidation of its HR service delivery to unify its operations further.
As the first and only ServiceNow-certified Advanced Platform CCaaS partner, 3CLogic displays a unique approach to streamlined employee and customer workflows for ServiceNow and is expected to discuss its latest AI and contact center capabilities for ServiceNow ITSM, CSM, HRSD, and source-to-pay at the upcoming World Forums in Dallas, TX, on October 8th, 2024, in Munich, Germany, on October 23rd, 2024, and in New York City, NY, on November 7th, 2024.
For more information, please contact [email protected].
About 3CLogic3CLogic transforms customer and employee experiences with its leading Cloud Contact Center and AI solutions purpose-built to enhance today’s leading CRM and Customer Service Management platforms. Globally available and leveraged by the world’s leading brands, its offerings empower enterprise organizations with innovative features such as intelligent self-service, generative and Conversational AI, agent automation & coaching, and AI-powered sentiment analytics – all designed to lower operational costs, maximize ROI, and optimize each interaction across IT Service Desks, Customer Support, Sales or HR Services teams. For more information, please visit www.3clogic.com.
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Artificial Intelligence
Life Science Analytics Market to Hit USD 61.94 Billion by 2029 with 11.7% CAGR | MarketsandMarkets™
DELRAY BEACH, Fla., Oct. 2, 2024 /PRNewswire/ — The global life science analytics market is projected to grow from USD 35.69 billion in 2024 to USD 61.94 billion by 2029, at a robust CAGR of 11.7%. Key drivers include advancements in analytical technologies that streamline data management and enhance insights from diverse sources like clinical trials and electronic health records, alongside rising demands for precision medicine. However, challenges such as data privacy concerns and a shortage of skilled professionals hinder progress. Noteworthy collaborations, like those between TetraScience and Databricks, exemplify the trend towards leveraging AI for improved outcomes in drug development and clinical trials. North America leads the market, fueled by high healthcare expenditure and a focus on innovation, while descriptive analytics currently dominates the market segments. Overall, the life science analytics landscape is evolving rapidly, presenting both opportunities and challenges that stakeholders must navigate to enhance research and operational efficiencies.
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Browse in-depth TOC on “Life Science Analytics Market”
455 – Tables54 – Figures385 – Pages
Artificial Intelligence (AI) and Machine Learning (ML) are revolutionizing life science analytics by enabling advanced data analysis, pattern recognition, and predictive modeling, which are crucial for enhancing drug discovery, clinical trials, and personalized medicine. Companies are investing in leveraging AI & ML across their product lifecycles. In February 2024, Trinity Life Sciences launched Brand Insights AI, a new tool designed to enhance biopharmaceutical brand research by ingesting data from various sources, accelerating analysis, and revealing hidden patterns. This powerful tool leverages Trinity’s AI expertise to refine insights and optimize the use of existing information, supporting impactful and efficient research across the pharmaceutical commercialization spectrum.
The global life science analytics market is segmented into descriptive, prescriptive, and predictive analytics, by type. The prescriptive analytics segmented is expected to register highest growth during the forecast period. The high growth of this market is. driven by its ability to offer actionable recommendations, optimize decision-making, and streamline complex processes such as clinical trial management and personalized medicine. Its advanced predictive capabilities help stakeholders minimize risks, enhance treatment outcomes, and improve operational efficiency. Additionally, the excrubating demand for precision medicine and real-time data-driven strategies further fuels its adoption.
The life science analytics market is divided into services, and software, by component. In 2023, the largest share of life science analytics market belonged to the services segment. The high adoption of life science analytics services over software is driven by the need for specialized expertise and tailored solutions that go beyond the capabilities of standalone software. Increased security, improved cost effectiveness, better usability & flexibility, and improved integration capabilities of services are a few factors impacting market growth. Moreover, the escalating user base and changing needs of companies looking for all-inclusive solutions and support, coupled with the adoption of life science analytics software, generate demand for a range of services, including modification, implementation, and consulting.
The surging adoption of advanced analytics in commercial operations within the life sciences sector is revolutionizing how companies cultivate market strategies & enhance business performance to optimize product launches by providing insights into market trends, competitive landscapes, and customer preferences. Companies are leveraging various organic & inorganic strategies to expand their offerings in commercial operations. For instance, in April 2024, IQVIA and Salesforce expanded their global strategic partnership to accelerate the development of Salesforce’s Life Sciences Cloud, a next-generation customer engagement platform. This collaboration will combine IQVIA’s Orchestrated Customer Engagement (OCE) platform with Salesforce’s CRM, offering an end-to-end solution for transforming healthcare professional and patient engagement in the life sciences industry.
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The prominent players operating in the Life science analytics market include Oracle (US), Merative (formerly IBM) (US), SAS Institute (US), Accenture (Ireland), IQVIA (US), Cognizant (US), Wipro (India), Veradigm (US), Optum (US), Microsoft (US), MaxisIT (US), ExlService Holdings (US), Inovalon (US), CitiusTech (US), Saama (US), Axtria (US), Clarivate (UK), ThoughtSphere (US), ThoughtSpot (US), Salesforce (US), Google LLC (US), Amazon Web Services, Inc. (US), Veeva Systems (US), Elsevier (Netherlands), and Komodo Health, Inc. (US). These companies adopted strategies such as product launches, product updates, expansions, partnerships, collaborations, mergers and acquisitions to strengthen their market presence in the life science analytics market.
These players not only have a comprehensive and diverse product portfolio but also a strong geographic presence. Owing to the emergence of new application areas for life science analytics, these players can focus on technologies and offerings dedicated towards research & development, commercial operations, safety, etc.
These market players have offered a diverse range of products and services and have operations worldwide. They rely on technological advancements to avail themselves of innovative products and services and increase their global footprint. These players focus on acquisitions, collaborations, agreements, mergers, product launches & updates, partnerships, expansions, and other recent developments to expand their global reach and develop advanced life science analytics solutions.
Oracle (US) is one of the leading life science analytics companies across the globe. The company provides analytics software & services for various applications including research & development, commercialization, among others. The company focuses on continuously updating its products and meeting customer expectations. Oracle also continuously invests in expanding its solutions by partnerships & collaborations to provide tailored solutions to its end users. For instance, in February 2024, Oracle partnered with ObvioHealth, Inc. to integrate diverse data in decentralized clinical trials and analyze health data from several sources for clinical trials anywhere globally. The company holds a broad customer base and a wide geographic presence, making Oracle as a critical player in various IT software, hardware, and service-related markets, including the life science analytics market.
Merative (US) is one of the prominent players operating in the life science analytics market. Merative offers a comprehensive suite of informatics products and services for life science analytics. The company leverages advanced technologies such as artificial intelligence (AI), machine learning (ML), and other technologies to strengthen the accuracy and efficiency of evidence analysis. The company has a strong brand recognition and extensive product portfolio that has contributed to its success. The company serves life science systems, clinical trial sponsors, and medical device manufacturing industries. The company has established offices across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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Related Reports:
Healthcare Analytics Market
Healthcare IT Market
Telehealth Market
Remote Patient Monitoring Market
Clinical Decision Support Systems Market
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