New York, USA, Aug. 16, 2022 (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 rapidly at a CAGR of 4.9% during the forecast period 2019-2026. The comprehensive report provides a brief overview of the market, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during and post-pandemic 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 Figure Pre and Post the COVID-19 Outbreak
According to the report, the market is predicted to grow at a CAGR of 4.9% during the forecast period, while it was anticipated to be 5.1% in the pre-pandemic scenario from 2019-2026. The pandemic and the subsequent lockdowns put a halt on business cycles of almost all industries, especially the manufacturing companies. Inkjet coders are primarily used by manufacturing industries for packaging products. Since the manufacturing processes were stopped, the demand for inkjet coders also reduced which ultimately affected the inkjet coders market. Along with this, the overall printing quality of inkjet coders is very low, which is why there has been a decline in the demand for inkjet coders since the past few years. This is another important factor behind the fall in the inkjet coders market.
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 estimations. 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. Increase in adoption of laser printers in manufacturing industry is predicted to be the main reason behind the decline in the growth rate of the inkjet coders market. Additionally, shutdown of various industries which used inkjet coders for packaging purposes is anticipated to be the another important cause behind this downfall.
Post-Pandemic Insight
As per the report, the global inkjet coders market is expected to recover by 3rd/4th quarter of 2021. The massive technological advancements and innovations in the inkjet coders industry have posed a serious threat to the laser printer sector and is predicted to help the market grow in the forecast period. Additionally, various industries such as food & beverages industry, pharmaceutical industry, etc. have started adopting inkjet coders for printing, which is predicted to boost the growth rate of the market.
Key Players of the Inkjet Coders Market
The prominent players of the market include
- Squid Ink Manufacturing, Inc.
- Shanghai Rottweil Handyware Printing Technology Co., Ltd
- Media Data Systems Pte Ltd
- Elmark Packaging
- Domino Printing Sciences plc
- Koenig & Bauer AG
- XAAR
- KGK Jet India
- Markem-Imaje
- Linx Printing Technologies
- ID Technology, LLC., and many more.
These players are emphasizing on the research and development, merger and acquisition, and other strategies to restore the market growth in the upcoming years.
For instance, in June 2021, Markem-Imaje, a leading developer of inkjet coders, announced the acquisition of Blue Bite, a New York-based consumer engagement software tools developer. The acquisition is expected to help Markem-Imaje to gain a substantial lead in the inkjet coders market and cater to the demands of its customers in a much better way.
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The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
More about Inkjet Coders Market:
- Drastic Impact of Covid-19 on the Global Inkjet Coders Market
- Technological As Well As Technical Innovation, During The Covid-19 Chaos To Impact The Global Inkjet Coders Market
