San Francisco, California, May 15, 2018: With the rising demand from diverse industries, the global coding and marking market is expected to exhibit a steady growth in the coming years. TMR Research in a recent study has estimated the market to rise at a 7% CAGR between 2017 and 2021. The report is titled “Coding and Marking Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025,” and is available for sale on the company’s official website. According to the report, key players in the global coding and marking market is likely to compete in terms of product differentiation. Furthermore, they are likely to adopt several expansion strategies which is expected to drive the global market in the coming years.
In the coming years, the market will significantly benefit from technological developments. Besides this, expansion witnessed in the smart packaging sector is likely to create lucrative growth opportunities. As per the report, automation of manufacturing equipment will fuel the demand for advanced coding and marking equipment. In addition, the rising use of digitized printing will enable the global coding and marking market gain momentum in the coming years.
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For the purpose of the study, the report segments the market in terms of various parameters. For instance, regionally the global market is segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Among these regions, Asia Pacific is likely to offer attractive growth opportunities to the market. However, it was North America that has remained dominant over the last few years. Innovations and technological advancements are likely to fuel the demand for coding and marking in North America. In addition to this, Europe is likely to exhibit a healthy growth over the course of the forecast period.
The report also includes some of the leading companies operating in the global coding and marking market. These include ID Technology, Markem-Imaje, Domino Printing Sciences, SATO America, ITW Diagraph, Matthews Marking Systems, among others.