Coding and marking is a process which involves coding various products of a vendor so that it is possible to track the product from the vendor’s warehouse or manufacturing center till the point it leaves a retailer’s store with a customer. Coding and marking is an important aspect of logistics as the process allow any authorized individual in the value chain to see where the product has come from as well as to see through how many distributors or channels the product has gone through.
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Coding and Marking – Market Size and Dynamics
Market research analysts at MarketIntelReports, forecast the Worldwide Coding and Marking market to grow at a CAGR of over 7% during the forecast period. The growth rate can be endowed due to increased product traceability requirements by vendors. The importance of identification and traceability of products has become prominent among manufacturers across varied industries such as Food and Beverage. Various coding systems such as the Harmonized Commodity Description and Coding System has increased the global demand of coding equipment.
Worldwide Coding and Marking market can be segmented on the basis of technology as Continuous Ink Jet Printer, Laser, Piezo Ink Jet Printer, Print and Apply Labelling Products, Thermal Ink Jet Printer, Thermal Transfer Overprinting Printer, Valve Jet Printer. The Thermal Transfer Overprinting segment is expected to grow at a high CAGR of around 8% between 2016 and 2021. The Continuous Ink Jet Printer segment is expected to account for the largest market share of around 31 percent in 2021. The Worldwide Coding and Marking market is expected to be dominated by the CIJ coding and marking technology in 2021. CIJ, VIJ, Piezo, TIJ, and PALM are expected to lose a part of their market share to the Laser and TTO technology during the forecast period. CIJ coding technique is the most commonly used coding and marking technique. This is mainly because the procedure of installation of this type of printer is easy. It can also be opted to print on any type of surface.
The report also provides the Porter’s five forces analysis along with a description of each of the forces and its impact on the market.
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Coding and Marking – Geographic Analysis
The Worldwide Coding and Marking market is well diversified across North America, APAC, Europe, Latin America, and Middle-east and Africa. North America accounted for the largest market share of ~30% of the market in 2015; it is expected to grow at a high CAGR of around 6 between 2016 and 2021. The US, Canada, and Mexico are three top countries contributing towards highest market size in North America.
The market is expected to be dominated by the APAC region in 2021. North America, Europe, and Latin America are expected to lose a part of their market share to the MEA APAC regions during the forecast period. In 2021, the demand from the emerging countries in the APAC and the MEA regions will drive the Worldwide Coding and Marking market. The APAC region is the fastest growing region in the Worldwide Coding and Marking market. Measures for the development of new standards in the region has driven the rapid growth of the market
Coding and Marking – Drivers, Restrains and Trends
The factors driving the growth of the market include rapid globalization which in turn has led to an increase in the import and export of coding and marking equipment across the world. Globalization has led to transfer of advanced reliable coding technology from technologically developed countries to other nations, which, in turn, has ensured error-free and authentic product coding and marking. Moreover, rising demand from Pharmaceutical, Cosmetic, and, Food and Beverage industry is also expected to fuel the growth of the market.
Some of the major challenges confronting the Worldwide Coding and Marking market include volatility of the application industry. Majority of the application industry such as pharmaceutical, Medical, and, Food and Beverage Industry have regular upgradation of standards. The safety norms for these industry are set high. Thus, the coding and marking equipment needs to be enhanced in accordance with these standards.
The development of environment-friendly marking systems is a major trend in the market. Patents such as EP0700793A2 and EP0565235A2 have been developed for biodegradable resin based marking devices. Bioaccumulation and eco-toxicity are taken into account to reduce adverse impacts on the environment. Technology which uses environment friendly printing techniques are being developed to counter harmful effects to the environment. Moreover, the orldwide Coding and Marking market is witnessing increasing expenditure by vendors on their R&D activities since 2012.The investments are undertaken to improve the performance of the product. Companies such as Domino Printing Sciences, Danaher, and Xaar have been investing in R&D. Research has been performed to increase the durability of the ink. It should be able to resist harsh environment conditions.
Worldwide Coding and Marking market research report covers the present scenario and the growth prospects of the Worldwide Coding and Marking Market for the period 2015-2021. The report provides in-depth market analysis of market size and growth of Worldwide Coding and Marking market. This market research includes a detailed market segmentation of the Worldwide Coding and Marking Market by
Technology Segmentation - Continuous Ink Jet Printer (CIJ), LASER, Piezo Ink Jet Printer (PIEZO), Print and Apply Labelling Products (PALM), Thermal Ink Jet Printer (TIJ), Thermal Transfer Overprinting Printer (TTO) and Valve Jet Printer (VIJ)
Geographic Segmentation - North America, APAC, Europe, Latin America and Middle East & Africa
Coding and Marking – Market Share and Key Vendors
This market research profiles the major companies in the Worldwide Coding and Marking Market and also provides the competitive landscape and market share of key the players. The report covers the entire market outlook regarding the value chain operating within the market. The major players in the market include Dover, Danaher,Domino Printing Sciences, ITW, Matthews International.
Other prominent vendors in the market include Control Print, ID Technology, Iconotech, Macsa, Hitachi Industrial Equipment Systems, Weber Marking Systems, Xaar.
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