The global coding and marking market is currently valued at almost USD 3,417 million and is expected to surpass USD 4,469 million by 2021, says Technavio.
Technavio has announced its latest market research report on the global coding and marking market, under its embedded systems portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Markem-Imaje, Danaher, Domino Printing Sciences, and ITW Diagraph.
According to Sunil Kumar Singh, a lead analyst for embedded systems research at Technavio, “Industry segments such as food and beverage, pharmaceutical, and cosmetics offer a variety of products. This creates the need to customize the packaging of these products based on regional requirements, such as color and language. Mandates, which are specific to these industries, issued by regulatory bodies and concerned legislations increase the need for coding and marking.”
The information on products is expected to communicate all the essential details so that buyers do not have to invest much time in making buying decisions. The codes need to be properly managed within the available space on packages to draw consumers’ attention.
Technological advances in coding equipment
Coding equipment is undergoing evolution by becoming more graphic and realistic in terms of aesthetics to complement modern packaging requirements. New, improved coding equipment incorporates better and colorful touchscreens to simplify its operation with maximum control to improve productivity. Ink containers are becoming more visual as they are equipped with metered cartridges that facilitate a relatively accurate assessment of the ink levels, which optimizes production.
Automation and integration with manufacturing equipment
The inclusion of QR codes and RFID tags in packaging provides consumers with a large amount of product-related information. Manufacturers are focusing on improving the manufacturing process in the existing production facilities. The global market for coding and marking is currently experiencing a surge in innovations in the form of new substrates, improved speed and reliability, and a wide array of options such as color and type. Green ink technology offers high-speed coding with reduced dry times and environmental impacts as they are non-hazardous.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Coding and Marking Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Silicon Carbide Market for Semiconductor Applications 2017-2021
- Global Sorting Equipment Market 2017-2021
- Global Single Board Computer (SBC) Market 2017-2021
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