Global coding and marking systems market is expected to witness a CAGR of 6.9% during 2018-2023, P&S Market Research
Coding and marking systems market is expected to reach $5,012.6 Million by 2023
The growth of the coding and marking systems market is mainly driven by the growing application of coding and marking systems in food and beverage, and automotive industries.
Access Report Summary with Detailed TOC on “Coding and Marking Systems Market by Technology (Continuous Inkjet, Laser Coding and Marking [Direct Part Marking, Laser Coding], Thermal Ink Jet Printer, Drop On Demand, Print & Apply Labelers, Thermal Transfer Overprinting), by End User (Food & Beverage, Electrical & Electronics, Automotive & Aerospace, Chemical, Healthcare), by Geography (U.S., Canada, Germany, U.K., France, Italy, China, India, Japan, South Korea, Brazil, Mexico, Turkey, Saudi Arabia, South Africa) – Global Market Size, Share, Development, Growth, and Demand Forecast, 2013-2023” at: https://www.psmarketresearch.com/market-analysis/coding-and-marking-market
Coding and marking devices print product related details on the packaging such as price, batch number, manufacturing and expiry date, manufacturer information, ingredients, and other related information. Coding and labelling allow the identification and tracking of components through the different phases of the production process. Coding and marking technologies have wide applications in industries such as food and beverage, automotive, electrical and electronics, chemical, healthcare, and others.
Insights on market segments
On the basis of technology, the global coding and marking systems market is segmented into continuous inkjet, laser coding and marking, thermal ink jet, drop on demand, print & apply labelers, thermal transfer overprinting, and others. Others include valve jet and hot-melt ink jet technologies. Laser coding and marking technology has been further segmented into direct part marking (DPM) and laser coding.
Continuous inkjet was the largest segment with an estimated contribution of more than 30.0% in the coding and marking systems market in 2017. Continuous inkjet printers offer several benefits such as very high-speed printing, ability to print characters on virtually any material, ability to run for long hours with minimum servicing requirement, and cost effectiveness. Owing to such benefits, the use of continuous inkjet printers is growing across industries.
On the basis of end user, the global coding and marking systems market is segmented into food and beverage, electrical and electronics, automotive and aerospace, chemical, healthcare, and others. Other end users include industries such as cosmetics and personal care products, textiles, and consumer packaged goods. Food and beverage was the largest segment with an estimated contribution of more than 30.0% in the global coding and marking systems market in 2017. Stringent government regulations regarding product safety and traceability have necessitated the proper labeling of manufacturing date, nutrition facts, ingredients list, and manufacturer details on the primary and secondary packages of food and beverage items. This factor is driving the growth of the coding and marking systems market.
Asia-Pacific stands as the largest coding and marking systems market
Asia-Pacific held the largest share of the global coding and marking systems market in 2017. The application of coding and marking systems is gaining momentum in the food and beverage industry owing to stringent government regulations, increase in food and beverage, and increase in export of packaged food items. This in turn is driving the growth of the market in the region.
Europe was the second largest region with an estimated contribution of more than 23.0% in the global coding and marking systems market in 2017. From the supply side, the growth of the European market is driven by factors such as increase in access to low cost coding and marking technology, due to growth in the manufacturing sector of Germany.
Stringent government norms providing bright opportunity for market growth
Government norms mandate the printing of batch/code number and other product information on the packaging of various consumer and industrial goods. This in turn compels manufacturers to put codes, labels, and trademarks on primary and secondary packages of manufactured products, which therefore, acts as a growth opportunity for the coding and marking systems market.
Some of the major players operating in the coding and marking systems industry are Danaher Corporation, ATD Marking Systems, ID Technology, Inkjet Inc, Hitachi Ltd, Dover Corporation, Diagraph Group, Matthews International Corporation, Domino Printing Sciences plc, and Overprint Packaging Ltd.
GLOBAL CODING AND MARKING SYSTEMS MARKET SEGMENTATION
By End User