In 2018, the Indian coding and marking systems market attained a value of $45.8 million and is predicted to generate $77.0 million in 2024, registering a 9.0% CAGR during the forecast period.
When technology is taken into consideration, the continuous inkjet category dominated the Indian coding and marking systems market in 2018, both in terms of value and volume. The reason for this is that continuous inkjet offers several benefits, including cost effectiveness, ability to run for long hours with requiring minimum servicing, and ability to print character on virtually any material. Because of these benefits, the utilization of these printers is increasing in the aerospace and food & beverages sectors. The category is further projected to grow at the fastest pace during the forecast period.
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A key trend being witnessed in the Indian coding and marking systems market is the replacement of analog technologies with digital coding solutions. Traditionally, the coding and marking requirements were taken care of by analog technologies in the Indian manufacturing and processing sector. However, in the recent years, due to the rising complexity in coding ad marking requirements for product packaging and the availability of digital coding and marking systems, the situation has changed. For instance, continuous inkjet printers are being preferred over manual systems by the users for printing on bottles and packages.
The Indian coding and marking systems market is consolidated in nature, with a few players holding a major share of the market. Some of the major players operating in the market are Danaher Corporation, Domino Printing Sciences plc, Control Print Limited, and Dover Corporation.
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