Coding and Marking Systems Market Revenue and Forecast to 2030

Coding and Marking Systems Market Predicted to Reach Over $7,000 Million Value by 2030

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The global coding and marking systems market generated a revenue of $3,832.4 million in 2019 and is predicted to attain a valuation of $7,469.6 million by 2030. Furthermore, the market would advance at a CAGR of 6.4% between 2020 and 2030. The surging requirement for coding and marking systems in the automotive industry and the soaring applications of these systems in the food & beverage industry are the main growth drivers of the market.

The mushrooming requirement for coding and marking systems in the pharmaceutical, cosmetic, and food & beverage industries is one of the major factors fueling the expansion of the coding and marking systems market across the world. The growing sales of bottled water, packaged food items, dairy products, and fruit juices are propelling the advancement of the packaged food & beverage industry. Similarly, the rising popularity of pharmaceutical packaging is also driving the demand for coding and marking systems.

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The prominent factors boosting the requirement for pharmaceutical packaging are the increasing awareness about the various benefits of mentioning drug information and other details on the package among the manufacturing companies and the surging penetration of special packaging and blister packaging in the pharmaceutical industry. Another important growth driver of the market is the rising usage of coding and marking systems in the automotive industry for coding anti-counterfeit labels or part numbers on various automobile components.

As per the Automotive Aftermarket Suppliers Association (AASA), the global automotive industry incurs losses of nearly $12.0 billion every year because of counterfeit products such as compression systems, brake pads, batteries, suspension components, lighting systems, and steering linkages. This is pushing up the demand for scannable and invisible anti-counterfeiting barcodes and printing inks as these can mitigate the growing prevalence of counterfeiting. This is, in turn, fueling the growth of the coding and marking systems industry.

Depending on technology, the coding and marking systems market is divided into thermal transfer overprinting, continuous inkjet, thermal inkjet, print & apply labeling, drop-on-demand, and laser coding & marking. Out of these, the continuous inkjet category is predicted to register the highest growth in the market in the future years. This is credited to the various beneficial traits of this technology such as the ability to print on several kinds of materials and minimum servicing needs.

Globally, the coding and marking systems market would exhibit the highest CAGR in the Asia-Pacific (APAC) region in the forthcoming years, as per the estimates of P&S Intelligence, a market research company based in India. This would be a result of the implementation of stringent government regulations and

policies, the soaring export of various packaged food products, and the growing incidence of piracy and counterfeiting in several industries in the regional countries.

Browse full report at: https://www.psmarketresearch.com/marketanalysis/coding-and-marking-market Hence, it can be safely concluded that the market will record substantial growth all over the world in the upcoming years, mainly because of the rising requirement for marking and coding systems in the packaging, pharmaceutical, and automotive industries and the growing incidence of counterfeiting around the world.

Coding and Marking Systems Market Size Breakdown by Segment

By Technology •

Continuous Inkjet

•

Thermal Transfer Overprinting

•

Thermal Inkjet

•

Drop on Demand

•

Print & Apply Labeling

•

Laser Coding & Marking o

Direct part marking (DPM)

o

Laser coding

By Material •

Paper & Cardboard

•

Plastic

•

Metal

By End User •

Food & Beverages

•

Electrical & Electronics

•

Automotive & Aerospace

•

Chemicals

•

Healthcare

Geographical Analysis •

•

•

North America o

U.S.

o

Canada

Europe o

Germany

o

France

o

Italy

o

U.K.

Asia-Pacific (APAC) o

China

o

India

o

Japan

o •

•

South Korea

Latin America (LATAM) o

Brazil

o

Mexico

Middle East and Africa (MEA) o

Saudi Arabia

o

South Africa

o

Turkey

Browse Other Related Reports Coding and Marking Systems Market in India Coding and Marking Systems Market in Germany Coding and Marking Systems Market in Turkey

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