$300.0 Million Boom Expected in U.S. Coding and Marking Systems Market by 2023

The flourishing manufacturing sector in the U.S., owing to the consistent economic growth and reducing costs of managing the supply chain, are the key factors propelling the demand for coding and marking systems. For instance, during the fourth quarter of 2017, Dover Corporation recorded more than 3.0% growth in printing and identification platform. Additionally, the increasing role being played by various government agencies, such as the Food and Drug Administration (FDA), in mandating the putting of detailed manufacturer and product information on packages related to drugs, food stuff, and beverages, is further boosting the need for coding and marking systems.

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Due to the above-mentioned factors, the U.S. coding and marking systems market is predicted to experience an increase in its revenue, from $558.4 million in 2017 to $860.6 million by 2023, exhibiting a CAGR of 7.6% during the forecast period (2018–2023). Coding and marking systems are widely used in the electrical and electronics, food and beverage, healthcare, chemical, and automotive and aerospace sectors. Amongst these, the food and beverage sector recorded the highest utilization of these systems in 2017, primarily owing to the stringent regulations pertaining to the printing of all the food and beverage-related details on the packages.

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The burgeoning demand for printing solutions from various industries in the U.S. is encouraging the providers of coding and marking systems to take innovative steps to grow their clientele. For instance, REA JET started a new service centre in Texas in March 2018, in order to provide DoD, large and small-character ink jet, and high-resolution ink jet printing solutions and on-site technical training and services, equipment repairs, and other services to its clients.

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Therefore, it can be concluded that owing to the burgeoning need for printing solutions in several industries, such as automotive and food and beverage, and the soaring demand for informative labeling on the packaging of the manufactured products, on account of the strict government regulations, the demand for coding and marking systems will observe huge growth in the U.S., the coming years.

Some of the major players operating in the U.S. coding and marking systems market are ID technology, REA Elektronik GmbH, Domino Printing Sciences plc, Matthews International Corporation, Dover Corporation, and Danaher Corporation.

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