Press release
Coding and Marking System Market Growth, Technological Advancements, Evolving Industry Trends And Forecast 2023
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.
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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.
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.
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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.
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