According to the report by Allied Market Research, the global inkjet coder market generated $2 billion in 2022, and is anticipated to generate $3.3 billion by 2032, witnessing a CAGR of 5.4% from 2023 to 2032.
Prime Determinants of Growth
Over the years, there has been an increase in the demand for industrial automation across various industry verticals for streamlining the production processes. This increase in demand for industrial automation is predicted to be one of the important factors driving the growth of the global inkjet coder market in the forecast timeframe. However, challenges with respect to adhesion on substrates with low surface energy or uneven surfaces may hamper the inkjet coder market growth in the coming period.
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Type: Continuous Inkjet Coder Sub-segment Projected to be Highly Dominant During the Forecast Period
The continuous inkjet coder sub-segment accounted for the highest inkjet coder market share in 2022 and is expected to continue its dominance during the forecast period. In the last few years, there has been an overall increase in the investments in R&D by various manufacturers to improve printing quality, reliability, ease of use, and maintenance of continuous inkjet coding systems. This growth in investments is predicted to boost the sub-segment’s growth by 2032.
End-User: Food Industry Sub-segment to Flourish Immensely by 2032
The food industry sub-segment generated the highest market share in 2022 and is predicted to grow at a high CAGR of 6.5% by 2032. Increasing use of inkjet coders by food and beverage industries to print variable data on food packaging, such as production and expiry date, customized messages, marketing offers, or information relevant to a certain region is predicted to boost the sub-segment’s growth by 2032.
Region: Europe to be the Most Dominant in Terms of Market Share by 2032
The Europe region accounted for the highest share in the global inkjet coder market in 2022 and is expected to continue to maintain its majority of market share during the forecast period. The rapid growth in expansion of pharmaceutical industries in various countries such as the UK, Germany, and Belgium is expected to be the main growth driver of the market in Europe region by 2032.
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Leading Players in the Inkjet Coder Market:
ANSER CODING INC
Domino Printing Sciences Plc
Hitachi Industrial Equipment Systems Co., Ltd
Control Print Limited
Shanghai Rottweil Handyware Printing Technology Co., Ltd
Linx Printing Technologies
Videojet Technologies Inc.
The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.