AP NEWS
Click to copy
Press release content from Business Wire. The AP news staff was not involved in its creation.
Click to copy
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Global Coding and Marking Equipment Market 2019-2023 | Labelling Regulations to Boost Adoption | Technavio

September 12, 2019
Global Coding and Marking Equipment Market 2019-2023 | Labelling Regulations to Boost Adoption | Technavio
Global Coding and Marking Equipment Market 2019-2023 | Labelling Regulations to Boost Adoption | Technavio

LONDON--(BUSINESS WIRE)--Sep 12, 2019--

The global coding and marking equipment market is poised to reach USD 1.48 billion by 2023, according to a new report by Technavio, progressing at a CAGR of over 7% during the forecast period.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190912005688/en/

Technavio has announced its latest market research report titled global coding and marking equipment market 2019-2023. (Graphic: Business Wire)

“Governments across the world are introducing regulations pertaining to packaging and labelling. This is compelling many packaging companies to make significant investments in coding and marking equipment in order to comply with the regulations and avoid penalties. Several companies are integrating advanced technologies such as Data Matrix to identify and efficiently track products across industries such as F&B, aerospace, healthcare, retail, and automotive. The increasing need for product traceability will fuel the growth of the global coding and marking equipment market,” says a senior analyst at Technavio. Request Free Sample Pages.

The market is driven by the increasing need for product traceability. In addition, the increasing number of labelling regulations are anticipated to further boost the growth of the global coding and marking equipment market during the forecast period.

Packaging companies are increasingly adopting technologies such as barcodes, RFID, QR codes, and Data Matrix to track and trace products. QR codes help packaging companies understand various parameters, such as the condition of the product, manufacturing date, and usage. Manufacturing companies leverage Data Matrix codes to automatically identify and track products such as cars, trucks, and bikes throughout their life cycle. These codes also play a major role in tracking products in other industries such as F&B, aerospace, healthcare, retail, and automotive. The increasing focus on product traceability ensures safety and security throughout the product lifecycle. This is one of the key factors that is driving the growth of the global coding and marking equipment market.

Many governments across the world are implementing stringent regulations with respect to packaging and labelling. For instance, the Food Safety and Standards Authority of India (FSSAI) recently mandated the labelling of allergens and vegetarian and non-vegetarian logos for packaged foods in the form of a barcode or a Global Trade Identification Number (GTIN). The FSSAI also mandated the use of X symbol on food products that are not meant for human consumption. The growing stringency of such regulations across the world is forcing companies to make significant investments towards the procurement of coding and marking equipment. This is expected to drive the growth of the global coding and marking equipment market during the forecast period.

For More Information: Request Free Sample Pages

The report includes detailed profiles of the leading companies & prominent vendors of the market:

Market Segmentation by Technology

Market segmentation by End-Users

Key Regions for the Coding and Marking Equipment Market

Some of the key topics covered in the report include:

Market Landscape

Market Sizing

Vendor Landscape

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.Request a free sample report.

Related Reports on Information Technologyare:

Commercial Online Printing Market in the European Union – Commercial online printing market in the European Union by product (business cards, display POS and signage, packaging, labels, and others) and region (Western Europe and Eastern Europe).

RFID Tags Market for Livestock Management – RFID tags market for livestock management by type (cattle, goats and sheep, and others) and geography (APAC, Europe, MEA, North America, and South America).

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190912005688/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: PACKAGING MANUFACTURING

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 09/12/2019 11:06 AM/DISC: 09/12/2019 11:05 AM

http://www.businesswire.com/news/home/20190912005688/en

All contents © copyright 2019 The Associated Press. All rights reserved.