Coding and Marking Equipment Market is projected to expand at a 6.78% CAGR, driven by heigh demand for product traceability- Technavio

NEW YORK, Feb. 19, 2024 /PRNewswire/ -- The coding and marking equipment market size is expected to grow by USD 1.35 billion between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 6.78% during the forecast period. The increasing need for product traceability is notably driving market growth. Effective product traceability is important in supply chains, majorly in sectors like food, healthcare, retail, auto, and aerospace. It ensures quality, consistency, and safety. Such tracing has become important in product management, allowing monitoring from manufacturing to customer delivery. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a PDF Sample Report 

The market is segmented by product (CIJ printing and coding, Laser coding and marking, PALM, TTO, and Others), end-user (Food and beverage, Healthcare, Industrial, and Others), and geography (APAC, Europe, North America, Middle East and Africa, and South America).

• The market share growth of the CIJ printing and coding segment will be significant during the forecast period. CIJ printing and coding is a non-contact printing system that uses several CIJ inks to print on different types of packaging materials. This kind of printer delivers high-quality prints due to their high drop ejection frequency. Moreover, there is a heightened demand for CIJ printing for coding and marking glass and plastic bottles, aluminum cans, cartons, and paperboard. Due to its advantages and wide areas of application, many companies use CIJ printers in their manufacturing lines. Get a glance at the contribution of the segments, Request a Sample Report

Key Highlights:

• The report recognizes the following as some of the key players: ATD Ltd., BestCode, Brother Industries Ltd., CONTROL PRINT Ltd., Danaher Corp., Dover Corp., Engage Technologies Corp., Hitachi Ltd., Illinois Tool Works Inc., Inkjet Inc., ITW Marking and Coding, Keyence Corp., Matthews International Corp., MULTIVAC Sepp Haggenmuller SE and Co. KG, Overprint Ltd., Paul Leibinger GmbH and Co. KG, Pro Mach Inc., REA Elektronik GmbH, RN Mark Inc., and SATO Holdings Corp.
• Industry is fragmented in nature.
• Observation of  5.99% YOY growth in 2023.

The equipment leasing business model is an emerging trend shaping the growth. High operational costs are significant challenges impeding the growth. The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report

The Coding and Marking Equipment Market plays a crucial role in various industries, including production, packaged consumer goods, and industrial goods. It facilitates the marking of product-related information such as manufacturing date, batch number, and expiration date on packaging. Utilizing advanced coding and marking techniques, this equipment ensures accurate and efficient labeling, catering to the needs of intralogistics processes and the retail sector. End-use industries like the food and beverage industry and the cosmetics industry rely on coding and marking solutions to maintain product traceability and compliance. As packaging requirements evolve, the demand for reliable coding and marking equipment continues to grow, driving innovation and efficiency across diverse sectors.

The industry plays a crucial role across diverse industries such as the chemical, pharmaceuticals, construction, automotive, semiconductor, and electronics sectors. With increasing demand for efficient identification and labeling solutions, coding and marking systems are essential. These systems are utilized for printing batch numbers, government identification codes, and labels on primary and secondary packaging materials. In the chemical industry, pharmaceuticals sector, and construction & building materials industry, precise coding is critical for compliance and safety. Similarly, in the automotive and healthcare industries, accurate marking ensures traceability and product authenticity. As technology advances, the demand for sophisticated coding and marking equipment continues to grow, driving innovation in this dynamic segment.

Related Reports:

The Global Laser Marking Equipment Market size is estimated to grow by USD 1,226.21 million accelerating at a CAGR of 7.29% between 2023 and 2027. 

The thermochromic materials market is estimated to grow at a CAGR of 7.24% between 2022 and 2027. The size is forecast to increase by USD 1,474.46 million.  

ToC:

Executive Summary

Landscape

Sizing

Historic Sizes

Five Forces Analysis

Segmentation by Product

Segmentation by End-user 

Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable insights to identify opportunities in existing and potential markets and assess their competitive positions within changing scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio