Monday, April 10, 2017

Inkjet Coder Market to Reach US$ 9.60 Bn By 2023

Inkjet Coder Market to Reach US$ 9.60 Bn By 2023
According to a new market research report published by Credence Research “Inkjet Coders Market (Technology – Continuous Inkjet Coder and Drop-on-demand Inkjet Coder; Inkjet Ink type – Visible, Invisible) - Growth, Share, Opportunities, Competitive Analysis and Forecast 2016 - 2023”, the global inkjet coders market was valued at US$ 5.77 Bn in 2015 and is projected to reach US$ 9.60 Bn by 2023, expanding with a CAGR of 6.6% through the forecast period 2016 to 2023.
Market Insights:
Inkjet coders are among the most revolutionary developments in the dot-matrix format printers. Inkjet coders are non-contact printing coders designed to print batch numbers, date of packaging, time and other such information on variety of end-products/components. The device comprises several ink guns that print the required information by dropping ink onto the desired material.
There are two primary types of inkjet coder viz. continuous inkjet and drop-on-demand inkjet coders. Drop-don-demand inkjet printing is further bifurcated into thermal drop-on-demand and piezoelectric drop-on-demand inkjet printers.
The inkjet coder market is highly driven by their superior advantages over the conventional counterparts. The technology in many aspects has emerged superior to laser technology thereby securing higher market growth worldwide. Another major factor fueling the market growth is the rising food & beverages industry globally. Inkjet coders are largely used across the food & beverages industry for marking and coding on food and beverages products and packaging.
In addition, pharmaceuticals and consumer & home care product segments are two potential end-users of inkjet coders. With the rising industrial growth across the above mentioned sectors, the market is set to witness significant growth during the forecast period. Nevertheless, high maintenance and costly consumables (ink) are the two major challenges for market growth.
Competitive Insights:
The overall inkjet coder market including market components such as inkjet coding equipment, inkjet ink and other spare parts and accessories is quite fragmented in nature. The rise in the number of manufacturers/suppliers, distributors, and service providers has ensured a highly competitive market where most manufacturers are struggling to gain meaningful differentiation by providing innovative products, inks for specific applications.
New product development is identified as a major strategy adopted by the leading players in the overall inkjet coders market. In order to gain a competitive edge over other players, the leading players in the industry are required to invest in research and development activities and expand their product and service offerings. Videojet Technologies, Inc., Domino Printing Sciences Plc. and Markem-Imaje are identified among the leading inkjet coder manufacturers.
Key Trends:
Development of inkjet coders having small size and high speed coding capacity
Development of more advanced inkjet inks for security applications
Strengthening of sales channel worldwide
Acquisition of other inkjet coding equipment providers in the market
Inkjet coders for specific industry verticals
Inkjet printing based on MEMS technology
Use of optical nanostructures
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