The Internet of Things (IoT) describes the use of connected sensors and actuators to control and monitor the environment, the things that move within it, and the people that act within it. GlobalData forecasts that the global IoT market will grow to reach $1,077 billion by 2024, and IoT revenue in the manufacturing sector will reach $90 billion by 2025, up from $60 billion in 2019.
IoT is the foundation for digitalization within the packaging sector. Peripheral technologies like 5G, artificial intelligence (AI), cloud, and edge computing support and enhance IoT. IoT collects the data, 5G transmits it, and AI extracts insight from it.
Packaging companies are using IoT to enhance the efficiency of their operations. Connected sensors allow assets to be monitored in real-time and, when combined with AI, can be used to predict faults before they occur. Packaging manufacturers are turning to the Industrial Internet to achieve their ESG (Environmental, Social, and Governance) targets. The Industrial Internet is helping companies to monitor a range of environmental parameters, like water and energy use.
Thanks to the declining price of sensors and tech vendors offering IoT as a service (IoTaaS), IoT deployment is becoming more accessible to packaging companies. Companies should resist flashy, gimmicky IoT features, and companies should define clear and targeted use-cases before implementing IoT devices across factories.
Packaging Corp of America
Is It Fresh
Vesta Smart Packaging
Table of Contents
IoT Value Chain
- Device layer
- Connectivity layer
- Data layer
- App layer
- Services layer
The Impact of IoT on Packaging
Market Size and Growth Forecasts
- Leading IoT adopters in packaging
- Leading IoT vendors
- Specialist IoT vendors in packaging
- Packaging sector scorecard