What Is The Definition Of The Global Inkjet Coder Market?
An inkjet coder is a printing device utilized in various industries to mark or code products and packaging materials with alphanumeric characters, symbols, barcodes, and other information. It operates by ejecting tiny droplets of ink onto the surface of the substrate, creating the desired marks. The inkjet coders are widely used for printing expiration dates, batch numbers, serial numbers, logos, and other essential information required for identification, tracking, and branding purposes.
Inkjet Coder Global Market Report 2024 provides data on the global inkjet coder market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The Inkjet Coder market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Inkjet Coder Market Size Expected To Change, And What Are The Growth Rate Projections?
The inkjet coder market size has grown strongly in recent years. It will grow from $1.94 billion in 2023 to $2.11 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to regulatory compliance, cost efficiency, globalization, industry adoption, and environmental concerns. The inkjet coder market size is expected to see strong growth in the next few years. It will grow to $3.00 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to industry 4.0 integration, customization demand, emerging markets, and e-commerce growth. Major trends in the forecast period include high-resolution printing, integration of AI, augmented reality (AR) support, water-based inks, and cloud connectivity.
Which Drivers Are Accelerating Growth In The Inkjet Coder Market?
The rapid expansion of the retail sector is poised to drive the growth of the inkjet coder market going forward. The retail industry, encompassing businesses selling goods or services directly to consumers, is expanding due to technological advancements, changing consumer preferences, globalization, and urbanization. Inkjet coders play a crucial role in marking products and packaging with essential information for inventory management, tracking, and regulatory compliance. They ensure accurate labeling, enhance brand visibility, and improve operational efficiency in managing inventory and product traceability. For instance, in April 2024, the House of Commons Library reported that the retail sector contributed £112.9 billion ($140.96 billion) to the UK's economic output in 2023, marking a 2.5% growth from the previous year, representing 4.9% of the nation's economy. Therefore, the rapid expansion of the retail sector is driving the growth of the inkjet coder market.
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What Are The Core Segments Of The Global Inkjet Coder Market?
The inkjet coder market covered in this report is segmented –
1) By Type: Continuous Inkjet (CIJ) Coder, Drop On Demand (DOD) Inkjet Coder, Thermal Inkjet (TIJ) Coder, Other Types
2) By Material: Plastics, Metals, Ceramics
3) By End Users: Food Industry, Medical Application, Cosmetic Industry, Automobile Industry, Pipes, Wires And Cables, Tobacco Industry, Packing Industry, Other End Users
Which Emerging Trends Are Reshaping The Inkjet Coder Market Size?
Major companies in the inkjet coder market are focusing on advanced inkjet coders with Touch Dry inks to improve efficiency and customer experiences. Touch Dry ink formulations are designed to dry instantly upon contact, facilitating high-speed printing without smudging. For instance, in January 2022, Markem-Imaje Corporation, a Switzerland-based company, introduced the 5940 G Touch Dry high-resolution inkjet coder. This coder uses Touch Dry inks that cure instantly, making it ideal for food and pharmaceutical packaging. It offers precise printing on various surfaces and operates effectively in temperatures ranging from 32°F to 104°F (0°C-40°C).
What Is The Largest Region In The Inkjet Coder Market?
Europe was the largest region in the inkjet coder market in 2023. The regions covered in the inkjet coder market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
