Portland, OR , Sept. 21, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global label printing software market amassed revenue of $565.2 million in 2021, and is expected to hit $936.2 million by 2031, registering a CAGR of 5.2% from 2022 to 2031. The market research study provides a detailed analysis of changing industry trends, top-most segments, value chain analysis, key investment business scenarios, regional space, and competitive space. The study is a key information source for giant players, entrepreneurs, shareholders, and owners in generating new strategies for the future and taking steps to enhance their market position. The report displays an in-depth quantitative analysis of the market from 2022 to 2031 and guides investors in allocating funds to the rapidly evolving industry.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $565.2 Million |
| Market Size in 2031 | $936.2 Million |
| CAGR | 5.2% |
| No. of Pages in Report | 277 |
| Segments Covered | Component, Deployment Model, Organization Size, End Use Vertical, and Region |
| Drivers | Rise in acceptance of big data tools and need for reducing operating costs. |
| Measures for minimizing office paper use and the need for enhancing productivity and information security. | |
| Flexibility in fulfilling consumer requirements. | |
| Opportunities | Surge in cloud printing service use and rise in print security spending. |
| Restraints | Recurring costs |
Covid-19 Scenario
- The Covid-19 pandemic created an adverse impact on the growth of the global label printing software market with disruptions in printing activities and supplier operations leading to supply shortages and temporary closure of factory units in countries such as Germany, China, the UK, Southeast Asia, and others.
- Short-term supply outages and supply shortages created logistical difficulties such as slow service delivery to the end-use industries during the COVID-19 pandemic.
The report offers detailed segmentation of the global label printing software market based on component, deployment model, organization size, end use vertical, and region. It provides an in-depth analysis of every segment and sub-segment in tables and figures through which consumers can derive a conclusion about market trends and insights. The market report analysis aids organizations, investors, and entrepreneurs in understanding which sub-segments are to be tapped for achieving huge growth in the years ahead.
In terms of component, the solutions segment was the largest in 2021, accounting for more than three-fifths of the overall share of the global label printing software market. Moreover, this segment is predicted to retain its dominant position during the forecast timespan. Furthermore, the services segment is set to record the highest CAGR of 6.8% from 2022 to 2031.
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On basis of the deployment model, the on premise segment held the largest share in 2021, contributing to nearly three-fifths of the overall label printing software market. Moreover, this segment is predicted to account for the highest market share by 2031. Furthermore, the cloud segment is also anticipated to record the fastest CAGR of 6.6% during the forecast timeframe. The report also analyzes other segments such as the off-grid segment.
Based on the organization size, the SMEs segment held the largest share in 2021, contributing to nearly three-fifths of the global label printing software market share. Moreover, this segment is predicted to account for the highest market share by 2031. Furthermore, the large enterprise segment is expected to register the highest CAGR of 6.4% during the forecast period.
On the basis of end use vertical, the retail segment held the largest share in 2021, contributing more than one-fourth of the global label printing software market share. Moreover, this segment is predicted to account for the highest market share by 2031. Furthermore, the foods and beverages segment is expected to register the highest CAGR of 8.0% during the forecast period
Based on region, the North American continent contributed toward the highest market share in 2021, accounting for nearly two-fifths of the global label printing software industry share. The North American market is set to dominate the regional market in foreseeable future. The Asia-Pacific label printing software market is predicted to register the fastest CAGR of 6.4% during the forecast timespan. The report also analyzes regions including the LAMEA and Europe.
Key participants in the global label printing software market examined in the research include Canon, Inc., Seiko Epson Corporation, Epaper Ltd., Nuance Communications, Hewlett-Packard Inc., HID Global, Ringdale UK Ltd., Honeywell International Inc., Lenovo Group Ltd., and Xerox Corporation.
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The report evaluates these major players in the global label printing software industry. These players have executed a gamut of major business strategies such as the expansion of regional and customer bases, new product launches, strategic alliances, and joint ventures for expanding product lines across global markets. The market research report supports the performance monitoring of each segment, positioning of each product in respective segments, and the impact of new technology and product innovations on the overall market size.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
