The global Packaging Design and Simulation Technology Market size reached USD 592.3 Million in 2020 and is expected to reach USD 114.7 Million and register a CAGR of 8.4% over the forecast period. Surging demand for electronic expansion valves for its air conditioning and refrigeration applications is expected to continue to drive market revenue growth going ahead.
Product packaging and simulation technology designers face conflicting requirements of consumers throughout the process of development. The product packaging needs to be aesthetically appealing; single-unit costs need to be minimal; and the packaging should be suitable for stacking and transportation. The product supplier implements various steps such as quality checks and product recalls and experiences higher costs. This slightly delays the process of packaging design. Simulation technologies used in packaging design allow product suppliers to collaborate with each other and develop designs that allow improvement in reliability, performance, and safety.
Companies Profiled in the Study:
Dassault Systemes, Altair Product Design Inc., ANSYS Inc., MSC Software Corporation, NEFAB Group, Axiom Consulting, Mentor Graphics, ESI Group, Bosch Rexroth AG and AVID Technology Inc.
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3D scanning technology has recorded significant adoption from commercial applications. Also, the flexibility of the technology to be customized to meet the several professional needs in industries has made it highly popular across the major end-user industries. For example, Packaging Design and Simulation Technologys are used to model body parts in 3D in the medical sector, which is further used to create prosthetics. It is also used to facilitate wound healing and generate several body implants.
By Type (Revenue, USD Billion; 2017–2027)
- Software
- Service
By End-use Industry (Revenue, USD Billion; 2017–2027)
- Consumer Goods
- Food Beverages
- Pharmaceutical
- Auto Components
- Consumer Electronics
- Others
Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East Africa
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Key Question the Report Will Answers
At what rate will the Packaging Design and Simulation Technology Market grow? What will be the value of the market in 2027?
What are the key technologies driving the Packaging Design and Simulation Technology Market?
What would be the impact of Packaging Design and Simulation Technology across different regions?
What are the strategies adopted by players to enter the APAC region?
What is the key application of Packaging Design and Simulation Technology in the different sectors?
What are future growth strategies in the market?
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