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As per a study conducted by P&S Intelligence, the global coding and marking systems market is expected to reach a value of $7,469.6 million by 2030, increasing from $3,832.4 million in 2019, progressing at a 6.4% CAGR during the forecast period (2020–2030). The increasing product application in pharmaceutical and food & beverage industries and rising product demand from the automotive industry, owing to the surging electric vehicles’ sales, are resulting in the growth of the market.
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This market research report provides a comprehensive overview of the Coding and Marking Systems Market
Historical and the present size of the Coding and Marking Systems Market
The future potential of the market through its forecast for the period 2020– 2030
Major factors driving the market and their impact during the short, medium, and long terms
Market restraints and their impact during the short, medium, and long terms
Recent trends and evolving opportunities for the market participants
Historical and the present size of the market segments and understand their comparative future potential
Based on technology, the market is divided into laser coding & marking, print & apply labeling, drop on demand, thermal inkjet, thermal transfer overprinting, and continuous inkjet. Out of these, the continuous inkjet division held the major share of the market in 2019, because of the various advantages of this technology, including ability to print characters on various materials and high-speed printing. Moreover, systems can run for long hours and with minimum servicing needs, resulting in cost-effective operations, with the use of this technology.
When the material is taken into consideration, the coding and marking systems market is categorized into metal, plastic, and paper & cardboard, among which, the paper & cardboard category is projected to advance at the fastest pace during the forecast period. The increasing utilization of labels on e-commerce packaging and in packaged food products is driving the growth of this category. The rising consumption of packaged food is further driving the adoption of paper and cardboard material, in turn, driving the demand for labels.
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Geographically, the coding and marking systems market was led by the Asia-Pacific region in 2019, which is expected to dominate the market during the forecast period as well. The rising production of food, strict government regulations, and increasing export of packaged food items are leading to the growth of the regional industry. Furthermore, the increasing population in APAC is predicted to result in the growth of the food & beverages industry, which will lead to the growing demand for labels.
The research includes detailed analysis of;
Based on Technology
Based on Material
Based on End User
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India Coding and Marking Systems Market
The Indian coding and marking systems was valued at $45.8 million in 2018, and it is expected to reach $77.0 million by 2024, demonstrating a CAGR of 9.0% during the forecast period.
U.S. Coding and Marking Systems Market
The U.S. coding and marking systems market was valued at $558.4 million in 2017 and is projected to reach $860.6 million by 2023, witnessing a CAGR of 7.6% during the forecast period. The increase in demand for coding and marking systems in the country is driven by the surge in R&D activities by key manufacturers and rising demand from the automotive industry.
About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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