Inkjet Coder Market Growth Opportunities and Forecast 2024

"The Business Research Company recently released a comprehensive report on the Global Inkjet Coder Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The inkjet coder market size has grown strongly in recent years. It will grow from $1.94 billion in 2023 to $2.11 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to regulatory compliance, cost efficiency, globalization, industry adoption, and environmental concerns.

The inkjet coder market size is expected to see strong growth in the next few years. It will grow to $3.00 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to industry 4.0 integration, customization demand, emerging markets, and e-commerce growth. Major trends in the forecast period include high-resolution printing, integration of AI, augmented reality (AR) support, water-based inks, and cloud connectivity.

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Market Drivers and Trends:

The rapid expansion of the retail sector is expected to propel the growth of the inkjet coder market going forward. The retail industry encompasses businesses selling goods or services directly to consumers for personal or household use. The expansion of the retail sector is due to technological advancements, changing consumer preferences, globalization, and urbanization. The inkjet coders play a crucial role in marking products and packaging with essential information for inventory management, tracking, and compliance with regulations. It ensures accurate labeling, complies with regulations, enhances brand visibility, and improves operational efficiency in inventory and product traceability management. For instance, in April 2024, according to the House of Commons Library, a UK-based government body, the retail sector contributed $ 140.96 billion (£112.9 billion) to the UK's total economic output in 2023, representing 4.9% of the nation's economy and reflecting a 2.5% growth from the previous year. Therefore, the rapid expansion of the retail sector is driving the growth of the inkjet coder market.

Major companies operating in the inkjet coder market focus on developing advanced inject coders with Touch Dry inks to enhance efficiency and customer experiences. The Touch Dry ink is a type of ink formulation designed to dry quickly upon contact with the substrate, enabling high-speed printing without smudging or smearing. For instance, in January 2022, Markem-Imaje Corporation, a Switzerland-based company specializing in industrial printing and packaging printing, launched a 5940 G Touch Dry high-resolution inkjet coder. This coding device utilizes Markem-Imaje's exclusive Touch Dry inks, which dry instantly upon contact, eliminating the requirement for drying time. This ensures the ink is fully cured before the product is packaged or shipped. Additionally, the inks utilized in this device are odorless, making them ideal for food and pharmaceutical packaging applications where cleanliness and hygiene are of utmost importance. It also provides precise printing on polystyrene for frozen foods and shrink wrap for pallet shipments. Additionally, the system ensures clear, accurate information and codes on porous surfaces like fabrics and non-woven materials used for medical masks, gowns, and diapers. Operating smoothly in temperatures ranging from 32°F to 104°F (0°C-40°C), it offers versatile performance across different environments.

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Major Key Players of the Market:

Videojet Technologies Inc., Dover Corporation, Koenig & Bauer AG, Domino Printing Sciences plc, Markem-Imaje Corporation, Diagraph, Xaar plc, Linx Printing Technologies, Shanghai Rottweil Handyware Printing Technology Co. Ltd, Weber Marking Systems GmbH, Hitachi Industrial Equipment & Solutions America LLC, Control print Ltd., ID Technology LLC., Elmark Packaging, Squid Ink Manufacturing Inc., KGK Jet India., Needham Coding Ltd., FoxJet, Anser Coding Inc, Iconotech

Inkjet Coder Market 2024 Key Insights:

• The inkjet coder market size is expected to see strong growth in the next few years. It will grow to $3.00 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%.
• Rising Retail Sector Fuels Inkjet Coder Market Growth
• Key Players Solutions Enhanced Efficiency And Customer Experiences In Inkjet Coder Market
• Europe was the largest region in the inkjet coder market in 2023

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