With increasing inclination towards automation, the manufacturing industry is rising at a fast pace for the past few years all around the world. According to the World Bank data, the global manufacturing value-added growth rate increased from 1.6% in 2016 to 3.44% in 2017. The increasing production lines are thriving the demand to automate quality control of products. Therefore, product marking has become a top priority for industries to upgrade the inspection and quality control. The ‘smart’ automation is driving the innovations to manage these quality control tasks involving coding and marking of the products effectively and accurately.The global Coding and Marking Market attained a value of $5.52 billion in 2018. Furthermore, the total revenue is poised to rise at a CAGR of 5.50% over the forecast period 2019-2025.
Automation Enabling the Coding and Marking Market to Rectify Human Errors and Product Recalls in the Food Industry
Human intervention in product labeling and coding can be cost-effective as well as complex. It possesses tremendous risk and recalls for costly inaccurate labeling or allergen declaration in the food industry. This risk significantly impacts the food and beverage market along with the other manufacturing industries. In the Industry 4.0 era, these flaws are eradicated swiftly and cost-effectively unlocking a great deal of productivity and profits to the companies. With the widespread of Internet of things (IoT) integrated into the supply chain of the industries along with the increasing consumer demand to produce nuanced varieties including gluten-free, organic, artisan, and lactose-free products, the pressure to automate coding and marking segment of the supply chain is ramping up.
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The Coding and Marking Market Experiencing Lucrative Opportunities in the Plastic Segment
Coding and marking industry offer diverse opportunities to the plastic segment. The plastic coding and marking market is set to disrupt with a significant growth rate of 5.30% over the forecast period. Plastic packaging offers numerous varieties and designing to the industries. Besides, it is widely chosen by the personal and industrial packaging industries.
Key Players in the Global Coding and Marking Industry
The major companies operating with a dominant share in the global coding and marking industry are Danaher Corporation, Dover Corporation, Matthews International Corporation, Rea Elektronik GmBH, ID Technology, Brother Industries Limited, Illinois Tool Works Inc., Hitachi, Ltd, Keyence Corporation, and BestCode.
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