Rockville, Dec. 22, 2022 (GLOBE NEWSWIRE) -- The global coding and marking systems and solutions market is estimated to touch US$ 7.5 billion by 2033, expanding at 5.9% CAGR from 2023 to 2033, as per a new industry analysis by Fact.MR, a market research and competitive intelligence provider.
Coding and marking systems are utilized to print product-specific details on a product's outer covering. These details are intended to assist end users and producers with accurate product information. Coding comprises printing expiry dates, manufacturing dates, and the size of the packaged lot, among other information. Printing marks or codes on products assists manufacturers in reducing the possibility of counterfeiting while also protecting the brand image among end users. Coding or marking is required to ensure the legitimacy of products. It gives the product a distinct identity and improves its traceability. It assists in informing the supply chain about product details and destinations.
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Over the last decade, the global coding and marking systems and solutions market has undergone significant transformations, primarily owing to several innovations, the incorporation of automation in production, the expansion of end-user industries, regulatory standard modifications, and the influx of vendors from various geographies.
Coding and marking solutions are useful for a variety of purposes, including product identification, tracking and traceability, and combating counterfeiting. With the expansion across end-user industries such as healthcare, food & beverage, chemicals & construction, automotive, and electrical & electronics, product proliferation has become common. As a result, the demand for coding and marking solutions is escalating. Moreover, the market is expected to profit from the emergence of laser coding. This technology has seen a significant increase in demand owing to its characteristics and viability across a wide range of end-user sector applications.
Key Takeaways from Market Study
- The global coding and marking systems and solutions market is valued at US$ 4.2 billion in 2023.
- The global coding and marking systems and solutions market is projected to reach US$ 7.5 billion by 2033.
- The worldwide demand for coding and marking systems and solutions is expected to advance at a CAGR of 5.9% from 2023 to 2033.
- The thermal inkjet segment is anticipated to increase at a CAGR of 5% during the forecast period.
- Asia Pacific accounted for 35% of the worldwide coding and marking systems and solutions market in 2022.
“Rise in the number of fraudulent activities aimed at undermining brand value and identity in many industries around the world is expected to boost the demand for coding and marking systems and solutions. Moreover, technological improvements as well as increased applications in a range of industries are anticipated to propel the global market forward,” says a Fact.MR analyst
Key Segments of Coding and Marking Systems and Solutions Industry Research
By Technology :
- Continuous Inkjet
- Laser
- Thermal Inkjet
- Thermal Transfer Overprinting
- Other Technologies
By End Use :
- Food & Beverages
- Electrical & Electronics
- Automotive & Aerospace
- Healthcare
- Other End Uses
By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
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Regional Analysis
Asia Pacific is projected to dominate the global coding and marking systems and solutions market during the study period. The regional market's continuous growth can be attributed to the increasing importance of providing product information, print specifications, and standards, such as ISI in India. Moreover, Japan and South Korea are also drive Asia Pacific market growth.
Competitive Landscape
Key players in the coding and marking systems and solutions market are focused on boosting their production capacity to address the increasing demand for marking and coding systems. Furthermore, key players are launching a number of products in order to expand their portfolios.
- Markem-Imaje, a division of Dover, announced the debut of the innovative 5940 G Touch DryTM high-resolution inkjet coder in January 2022. The GS1-128-compliant system meets the growing demands of the industry.
- In September 2021, domino announced R-Series, which includes marking and coding equipment and code inspection systems.
- Danaher Corporation announced in June 2021 that they had reached a binding agreement to acquire privately-held Aldevron. This transaction was completed for a cash purchase price of almost $9.6 billion.
- Domino Printing Sciences plc launched the X630i, its first digital inkjet solution offering for corrugated materials, in June 2021. In addition to this automated inkjet printing solution, the company will release a new ink set based on unique water-based ink technology.
Key Companies Profiled
- ATD Ltd
- Diagraph Corporation
- Linx Printing Technologies Ltd
- InkJet, Inc
- Domino Printing Sciences plc
- Paul Leibinger GmbH & Co. KG
- Hitachi Industrial Equipment Systems Co, Ltd
- Matthews Marking Systems
- Iconotech
- Markem-Imaje SAS
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global coding and marking systems and solutions market, presenting historical demand data (2018-2022) and forecast statistics for the period of 2023-2033.
The study divulges essential insights on the market on the basis of technology (continuous inkjet, laser, thermal inkjet, thermal transfer overprinting, other technologies) and end use (food & beverages, electrical & electronics, automotive & aerospace, healthcare, other end uses), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).
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