The Indian coding and marking systems market generated $49.8 million in 2019, and it is expected to reach $136.5 million by 2030, registering a CAGR of 9.8% during 2020–2030 (forecast period). The market thrives on factors such as the growth of the food and beverage industry and rise in investments in the pharmaceutical sector for reducing the risk of lost-in-transit of medicated drugs and ensuring the safety of pharmaceutical items.
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Currently, the Indian coding and marking systems market is observing the substitution of analog coding and making technologies with digital variants. With the ongoing Industry 4.0 revolution, the automation of industrial practices is being done rapidly. Manufacturers need to mark, label, and code an array of products and shipments without compromising the production speed. Manufacturers go through these procedures to identify pallets, devices, parts, cartons, and shipments in an effective manner. Due to this reason, the availability of digital technologies is making the analog technology obsolete.
Another key factor driving the Indian coding and marking systems market growth is the expansion of the manufacturing and packaging sectors in the country. The Indian packaging industry is advancing due to the rising usage of innovative packaging, primarily flexible packaging. This is ascribed to the booming middle-class population and evolving rural markets. Moreover, the expansion of the e-commerce and food and beverage industries will propel the packaging industry. This will eventually drive the demand for coding and marking systems in the nation in the years to come.
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The Indian coding and marking systems market is highly consolidated with the existence of key players such as Danaher Corporation, Control Print Limited, Domino Printing Sciences plc, and Dover Corporation. These market players are pursuing product launches to gain a competitive edge. For instance, Domino Printing Sciences plc introduced the N730i digital label press in September 2020. This system incorporates the SunLight graphical user interface, Brother BITSTARTM 1200dpi piezo print head, and many automated Domino i-Tech intelligent Technology features, including i-Tech CleanCap2 and i-Tech SetAlign.
Market Size Breakdown by Segments
- Continuous Inkjet
- Thermal Transfer Overprinting (TTO)
- Thermal Inkjet
- Drop on Demand (DoD)
- Print and Apply Labeling
- Laser Coding and Marking
By End User
- Food and beverage
- Electrical and electronics
- Automotive and Aerospace