New York, USA, Sept. 13, 2021 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global inkjet coders market is expected to generate a revenue of $2,139.0 million by 2026, growing exponentially at a CAGR of 4.9% during the forecast period (2019-2026). The comprehensive report provides a brief overview of the current scenario of the market, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during the forecast period. The report also offers the market figures, which makes it easier and more beneficial for the new participants to understand the real-time scenario of the market.
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Factors Impacting the CAGR Figures Pre and Post the COVID-19 Outbreak
According to the report, the market is predicted to grow at a b during the forecast period, while it was anticipated to be 5.1% in the pre-pandemic scenario from 2019-2026. This decline is mainly due to the closure of manufacturing units of inkjet coders during the lockdowns, disrupting its supply chain, distribution, and demand. In addition, low printing quality and redundant spread of ink while printing on the surface in case of inkjet coders when compared to other printing machines are further expected to restrain the growth of the market during the forecast period.
Factors Influencing the Market Size Pre and Post the COVID-19 Outbreak
According to the report, real-time market size has substantially decreased compared to the pre-pandemic apprehensions. The real-time market size reached a revenue of $1,247.4 million in 2020, while its estimations were $1,599.3 million in the pre-pandemic scenario. Rapid adoption of laser printers among manufacturers due to the splitting problem of ink in case of inkjet coders is expected to curb the growth of the market during the forecast period. In addition, inkjet coders are extensively used in various industries for printing the details on packaging materials of their product. Hence, the shutdown in production during the lockdowns adversely affected the demand. This factor is further predicted to restrain the growth of the market during the forecast period.
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Post Pandemic Insights
As per the report, the global inkjet coders market is expected to recover by 3rd /4th quarter of 2021. However, convenient integration, cost-effectiveness, and persistent technological advancements in inkjet coders are expected to create immense opportunities for the growth of the market in the coming years. In addition, extensive set-up of numerous industries in various regions is further expected to create ample opportunities for the growth of the market.
Key Players of the Market
The prominent players of the inkjet coders market include -
- Squid Ink Manufacturing, Inc.
- Media data Systems
- KGK Jet India
- Linx Printing Technologies
- Shanghai Rottweil Handyware Printing Technology Co., Ltd
- Elmark Packaging
- Markem-Imaje
- Koenig & Bauer AG
- Domino Printing Sciences Plc
- XAAR
- ID Technology, LLC
These players are emphasizing on the research and development, merger and acquisition, and other strategies to restore the market growth in the upcoming years. Inquire and Get Quick Access to Top Companies Development Strategies Summary Report
For instance, in June 2021, Markem-Imaje, a global manufacturer and distributor of specialized traceability, variable data and product identification equipment, acquired Blue Bite LLC, a manufacturer of innovative workflow software solutions for brand owners and product marketers, in order to accelerate Markem-Imaje’s efficiency, compliance, brand loyalty, and incremental sales.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
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