The automobile demand in the U.S. is rising due to the availability of easy credit, decrease in gas price, and growing rate of employment. For example, as per a report published in the Los Angeles Times, in 2016, 17.5 million vehicles were sold in the country, which was higher by 0.08 million units than the 2015 sales volume. The expanding automotive industry also makes extensive use of coding and marking systems for ensuring identification and creating protection against the threat of counterfeits, which is why the demand for these systems is predicted to rise significantly. Coding and marking systems basically provide product-related details, including price, manufacturing and expiry dates, and batch number, on the packaging to the end users. Components can be tracked and identified through the various phases of the production process with the help of these systems.
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As per a research conducted by P&S Intelligence, in 2017, the U.S. coding and marking systems market generated a revenue of $558.4 million and is expected to attain a value of $860.6 million, advancing at a 7.6% CAGR, in the coming years. Various technologies used by coding and marking systems are drop-on-demand, laser coding & marking, thermal transfer overprinting, print & apply labelers, continuous inkjet, and thermal inkjet. Other technologies include hot-melt inkjet and valve jet. Among all these, the largest demand was created for the continuous inkjet technology during the time period 2013–2017. Continuous inkjet printers are best for coding and marking flat and curved surfaces, such as packages, printing on bottles, automotive and aerospace components, and others. These printers have a low cost and are easy to operate, which is why they are used by almost all industries.
Several industries that make use of coding and marking systems are shifting from conventional printing to digital printing solutions. This is because, by utilizing digital printing solutions, such as continuous inkjet, millions of characters can be printed using just a liter if ink. In addition to this, where on one hand, traditional printing solutions generate more inventory waste and are time consuming, the ink utilized in digital solutions dries quickly, which makes the whole process efficient, quick, and cost-effective. Due to these advantages of digital printing solutions over conventional printing methods, manufacturers are increasingly focusing on the development and marketing of digital coding and marking solutions.
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Moreover, since the attention toward product anti-counterfeiting and traceability is growing, the requirement for coding and marking systems is also expected to increase as they have the ability to provide a new level of supply chain tracking and visibility. Through the use of smart coding, manufacturers can protect their brand and products in a better way and can further communicate the brand message in a more attractive manner. Moreover, the technology enables manufacturers to enforce and check anti-counterfeit and diversion activities throughout the supply chain. For instance, a permanent batch code on the product is printed by making use of smart coding, where the basic batch code is enhanced by altering specific characters in the code, thereby making it difficult for unauthorized parties to copy the code.
Moreover, since the attention toward product anti-counterfeiting and traceability is growing, the requirement for coding and marking systems is also expected to increase as they have the ability to provide a new level of supply chain tracking and visibility. Through the use of smart coding, manufacturers can protect their brand and products in a better way and can further communicate the brand message in a more attractive manner. Moreover, the technology enables manufacturers to enforce and check anti-counterfeit and diversion activities throughout the supply chain. For instance, a permanent batch code on the product is printed by making use of smart coding, where the basic batch code is enhanced by altering specific characters in the code, thereby making it difficult for unauthorized parties to copy the code.
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