The analysts forecast the global coding and marking market to grow at a CAGR of 6.71% during the period 2017-2021.
The report covers the present scenario and the growth prospects of the global coding and marking market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of different types of coding and marking equipment. It also provides data on the different segments of the market based on applications and the technology of coding and marking that is used. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is technological advances in coding equipment. To compliment modern packaging requirements, coding equipment is undergoing evolution by becoming more graphic and realistic in terms of aesthetics. The coding equipment is incorporating better and colorful touchscreens to simplify its operation with maximum control to improve productivity. Ink containers are becoming more visual as they are equipped with metered cartridges that facilitate a relatively accurate assessment of the ink levels, which optimizes production. This trend is likely to gain considerable traction in the future and is expected to contribute to the overall market growth.
Companies that manufacture different types of products require codes to be marked on their products at high speeds to ensure optimized production. Vendors can price the coding and marking equipment high because of the variety in the printing mix and complexity of the printing pattern. Industries with nonstop production cycles cannot afford to have coder-related downtime.