Global corrugated packaging software market will grow by $ 9 bn during 2020-2024, according to Technavio
In the wake of the COVID-19 pandemic, corrugated packaging industry is also expected to undergo major changes to overcome the present challenges. With digitalisation expected to gain traction in sectors across industries, it is anticipated that corrugated packaging software market will grow globally. According to market research report by Technavio, corrugated packaging software market is expected to grow by USD 9 billion during 2020-2024.
The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
Corrugated packaging software is available as standalone software that can manage the cutting, printing, and folding of corrugated boards. To overcome various shortcomings of standalone software, vendors are introducing packaged software solutions which help in inventory management, planning, managing corrugated boards, billing, and shipment of corrugated boxes. Also, packaged software solutions are more cost-effective than standalone corrugated packaging software.