San Francisco, CA -- (SBWIRE) -- 03/16/2019 -- Global Coding and Marking Market: Overview
The global market for coding and marking is projected to witness a steady growth in the next few years. As per the research study, the market is likely to register a 7% CAGR between 2017 and 2021. The rising demand for coding and packaging techniques from several industries, including cosmetic, food and beverage, pharmaceutical, and other industries. The rising competition among the key players has resulted in an expansion of the product portfolio, which is further estimated to encourage the growth of the market in the next few years.
The research study offers a detailed overview of the global coding and marking market, highlighting the key aspects of the market that are estimated to determine the overall growth of the market in the near future. The major segments and the regional outlook of the global coding and marking market have been mentioned in the study. Moreover, an in-depth study of the competitive landscape of the market has also been discussed at length in the report.
Global Coding and Marking Market: Key Trends
Technological developments in the coding equipment and the rapid development of the smart packaging sector are some of the major factors that are estimated to encourage the growth of the global coding and marking market in the coming years. The integration and automation with the manufacturing equipment and the rise in the efficiency of coding and marking equipment are estimated to generate potential growth opportunities for the market players in the near future. In addition to this, the increasing use of digitalized printing is predicted to drive the global market throughout the forecast period.
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Global Coding and Marking Market: Market Potential
The research study identifies the technological developments as one of the most important factors, which is predicted to accelerate the market growth in the near future. In order to cater the rising demand, the coding and marking equipment are going through innovations in order to become more graphic and realistic. Some of the new features that have been incorporated in the equipment in order to improve productivity and touchscreens are predicted to enhance the market growth in the next few years.
Global Coding and Marking Market: Regional Outlook
The global market for coding and marking market has been classified on the basis of geography into the Middle East and Africa, Latin America, North America, Europe, and Asia Pacific. Among these, Asia Pacific is projected to register a promising growth rate in the next few years. In the last few years, North America has been in the leading position and is projected to account for a large share throughout the forecast period. Technological advancements and innovations in this field are likely to encourage the growth of the growth of the North America market in the coming years. On the other hand, Europe is likely to witness a healthy growth in the coming few years.
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Global Coding and Marking Market: Competitive Analysis
The global market for coding and marking is competitive in nature with a presence of a large number of players operating in it across the globe. Some of the leading players operating in the coding and marking market across the globe are Markem-Imaje, ID Technology, ITW Diagraph, SATO America, Domino Printing Sciences, Paul Leibinger, Iconotech, Matthews Marking Systems, Danaher, and Engage Technologies. The development of new product and innovations are the key factors that are being emphasized by the leading players, which is likely to help them grow at a healthy rate in the next few years.