Global coding and marking systems market is projected to contribute USD 3.4 billion in 2017 and is expected to witness a CAGR of 7.0% during 2018–2024. Coding and marking is considered to be the most vital part of manufacturing and logistics process in consumer and industrial products. It is the system that is extensively being used to print the details on the product and packaging relating to manufacturing date, lot size, expiry date and other details in order to disperse authentic information to the customers. Moreover, these systems enable the manufacturers to track the products along with enhanced focus of the manufacturers towards safety concerns, quality assurance of the product and brand establishment.
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The thermal transfer overprinting technology is convenient for application when a huge bulk of data is expected to be printed on the controlled space. This technology is convenient and easy for its use and also requires low maintenance cost. This technology is extensively being used for marking and coding on primary and secondary packaging of food and beverage offerings, which includes dairy products, snacks and confectionaries. Furthermore, enhanced applicability and low cost benefits provided by this technology is strengthening the growth of this technology in the global coding and marking systems.
Geographically, Asia Pacific is expected to witness fastest growth of 8.4% during the forecast period due to extensive growth in the retail and industrial domain. Additionally, the emerging country in this region such as India is expected to further elaborate the global of this market in the near future. The implementation of legislative norms by the government of various countries in the region is expected to combat the situation of rapid penetration of piracy and counterfeiting.
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Some of the major players operating in the coding and marking systems industry are ATD Marking Systems, Danaher Corporation, Inkjet Inc, ID Technology, Hitachi Ltd, Diagraph Group, Matthews International Corporation, Dover Corporation, Overprint Packaging Ltd., and Domino Printing Sciences plc.
Global Coding and Marking Systems Market Coverage
Technology Insight and Forecast 2014-2024
- Continuous inkjet
- Thermal ink jet
- Print & apply labelers
- Thermal transfer overprinting
- Laser coding and marking
- Drop on demand
- Valve jet & hot melt inkjet
End User Insight and Forecast 2014-2024
- Food & beverage
- Electrical & electronics
- Automotive & aerospace
Coding and Marking Systems Market by Region
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa
- South Africa
- Saudi Arabia
- Rest of Middle East and Africa