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The coding and marking systems market is projected to contribute USD 3.4 billion in 2017 and is expected to witness a CAGR of 7.0% during the forecast period 2018-2024. The rapid growth of this market is majorly attributed towards the benefits attained by coding and marking systems such as protection from existing counterfeits in the market. Additionally, during the process of logistics these systems are used for tracking the goods from manufacturing unit till the product is delivered to the end consumer. These codes are also beneficial for the manufacturers in developing brand image, enhancing safety concerns and in providing quality assurance to the consumers.
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Industry Overview • Global coding and marking systems market is projected to contribute USD 3.4 billion in 2017 and is expected to witness a CAGR of 7.0% during 2018–2024. Coding and marking is considered to be the most vital part of manufacturing and logistics process in consumer and industrial products. It is the system that is extensively being used to print the details on the product and packaging relating to manufacturing date, lot size, expiry date and other details in order to disperse authentic information to the customers. Moreover, these systems enable the manufacturers to track the products along with enhanced focus of the manufacturers towards safety concerns, quality assurance of the product and brand establishment. • Explore Full Report Description at: https://www.vynzresearch.com/chemicals-materials/coding-and-marking-systems-market
market segmentation • On the basis of technology, the global coding and marking systems is segmented into continuous inkjet, thermal ink jet, print & apply labelers, thermal transfer overprinting, laser coding and marking, drop on demand, and valve jet & hot melt inkjet. Among all these segments continuous inkjet coding is extensively being adopted by the business organizations due to its affluence of installation. Furthermore, this technology is further projected to generate largest revenue during the estimated period and thermal transfer printers is expected to witness fastest growth during the forecast period.
Geographic Overview • Geographically, Asia Pacific is expected to witness fastest growth of 8.4% during the forecast period due to extensive growth in the retail and industrial domain. Additionally, the emerging country in this region such as India is expected to further elaborate the global of this market in the near future. The implementation of legislative norms by the government of various countries in the region is expected to combat the situation of rapid penetration of piracy and counterfeiting. According to a recent report, it has been observed that China Food and Drug Administration has introduced reform for labelling of prepackaged products according to that norm the manufacturers operating in food and beverage industry are required to adhere to certain norms such as inclusion of detailed information pertaining to name of the product, details of producer, storage condition, ingredients and identification of batch. Implementation of these regulatory reforms is thus driving the growth of this market in Asia-Pacific at a rapid pace.
Competition among keyplayers • Some of the major players operating in the coding and marking systems industry are ATD Marking Systems, Danaher Corporation, Inkjet Inc, ID Technology, Hitachi Ltd, Diagraph Group, Matthews International Corporation, Dover Corporation, Overprint Packaging Ltd., and Domino Printing Sciences plc.
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