Global Coding and Marking Market Driven by the Growing Demand for Traceability of Products: Technavio

LONDON–(BUSINESS WIRE)–#EmbeddedSystems–According to the latest market study released by Technavio,
the global
coding and marking market
is projected to grow to USD
4,469.14 million by 2021, at a CAGR of nearly 7% over the forecast
period.


This research report titled ‘Global
Coding and Marking Market 2017-2021
’ provides an in-depth
analysis of the market in terms of revenue and emerging market trends.
This market research report also includes up to date analysis and
forecasts for various market segments and all geographical regions.

 
Coding and marking hardware/products are used to print product
points of interest on the product to communicate credible data to
clients and manufacturers. The need for traceability of products in
industries such as automotive, aerospace, and healthcare is one of
the key factors driving the coding and marking market.
 

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Based on the technology, the report categorizes the global coding and
marking market into the following segments:

  • CIJ printing and coding
  • Laser coding and marking
  • Thermal inkjet printing
  • Drop-on-demand technology
  • Others

The top three revenue-generating technology segments in the global
coding and marking market are discussed below:

CIJ printing and coding

The continuous inkjet (CIJ) printing and coding segment of the market
occupied a majority 45% of the market in 2016 and is expected to
continue its dominance through the forecast period. The steady growth in
the adoption of CIJ printing technologies will have a positive
impact on the market segment.

CIJ printing is the oldest and most widely used technology for
marking and coding products and packages. The key advantages of using
this technology is its high-speed printing, quick-dry nature, and
versatility
,”
says Chetan Mohan, a lead analyst at Technavio for embedded
systems
research.

Laser coding and marking

The global coding and marking market by laser coding and marking is
expected to be worth USD 635.51 by 2021. This technology offers superior
reliability, requires low maintenance, and does not require any ink or
fluids, which makes it environment-friendly and highly cost-effective.

However, the cost of ownership for this technology is relatively high,
which is a barrier that vendors in the market are working to overcome.
The gradual fall in prices over the coming years is expected to
contribute to the growth of the global coding and marking market.

Thermal inkjet printing

The thermal inkjet printing segment of the coding
and market is expected to grow swiftly at a CAGR of nearly 8% through
the forecast period. The functionality of thermal inkjet printers makes
them the most suitable for coding and marking on almost all types of
surfaces or materials
,” says Chetan.

Thermal inkjet printing technology is quickly catching up to both laser
coding and marking and CIJ printing and coding technologies. The major
advantage of thermal inkjet printing over other technologies is its
ability to print on any surface. The technology also delivers fast,
high-resolution printing/coding/marking on products, which further
increases its usability.

The top vendors highlighted by Technavio’s research analysts in this
report are:

  • Danaher
  • ITW Diagraph
  • Markem-Imaje – A Dover Company
  • Domino Printing Sciences
  • Matthews Marking Systems

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Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
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research assignments across the latest leading edge technologies.

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and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
resellers, and end-users.

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