PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1363888
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1363888
Global Sensor-based Sorting Machine Market is valued at approximately USD 4.2 billion in 2022 and is anticipated to grow with a growth rate of more than 5.7% over the forecast period 2023-2030. Sensor-based sorting is an artificial intelligence algorithm to enhance the accuracy and efficiency of material separation processes. That is used for particle sizes ranging between 0.5 to 300 mm. Sensor-based sorting machines are used in various industries such as mining, recycling, distribution and packaging. The increased investment in the food and beverage industries and improving accuracy & reducing the cost of production are key factors responsible for Sensor-based Sorting Machine growth over the forecast period of 2023-2030.
The increasing investment in the food and beverage sector is the primary factor of growth in the market. For instance, according to the Good Food Institute (gfi.org), in 2020, Plant-based meat, egg, and dairy companies received $2.1 billion in investments in 2020, and protein companies received $590 million investments. Also, technological advancements in the Sensor-based Sorting Machine Market will accelerate market growth. For instance, In May 2020, TOMRA introduced a new optical sorting machine named TOMRA 3C, which achieves exceptional sorting efficiencies. Moreover, increased investment in research and development by key players and increased adoption of automation in end-user industries are anticipated to create a positive outlook for the market. However, high capital investment will stifle market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Sensor-based Sorting Machine Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in terms of revenue owing to factors such as the increased demand for processed and nutritional food products, increased adoption in End-user industries and rising technological advancements in the region. Asia-Pacific is the fastest-growing region due to increased investment by major international companies and increasing awareness towards the cleanliness of the environment by sorting machines in the region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures are dummy in nature, final lists may vary in the final deliverable
List of tables and figures are dummy in nature, final lists may vary in the final deliverable