The use of dispensing systems is increasing at a rapid pace across various applications. The continuous evolution in manufacturing techniques of dispensing systems has changed the current applications scenario as compared to the past years. The market is poised to witness rapid growth due to preference for high-quality, reliable, and repeatable solution in the manufacturing process which meets the changing needs of operations in manufacturing industries and evolving end user industry product lines.
Dispensing systems can perform the exact operation as per the end user requirement. They are developed to provide high precision, accuracy, and better quality with less manufacturing time. With the use of these systems, manufacturers can save cost and time, ensure high quality of products, reduce downtime, increase production efficiency, enhance safety, and ensure standardization in the overall manufacturing process.
According to IndustryARC, the Global Dispensing Systems Market was valued at $5532.7 Million in 2015 and is estimated to reach $6,995.6 Million by 2020 at a CAGR of 4.8% during 2015-2020. It is also estimated to grow healthily during the coming few years with the fact that automotive and electronic market segments are expected to grow at CAGRs 2.5% and 6% respectively in between 2015-2020.
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MARKET TRENDS & GROWTH:
Market Segments and Applications Brief:
Globally, dispensing Systems emerged as one of the leading product segments in automation devices. The dispensing systems market is the fastest growing automation manufacturing devices which ensure high control, quality and accuracy. The demand of these systems has increased with the drive of automation and mass production in most of the industries. The usage of dispensing systems has been increased in the manufacturing sector and with the technological advancement they...