iCrowd Newswire – Apr 30, 2020
With increasing international trade and growing business and transportation across the globe has resulted in building and expanding various industries. A significant rise is seen in the printing industry with growing trade and advertisements. Increasing advertisements with growing numbers of companies and changing ways of communication has increased the demand for label printing and boosted growth in the global label printing machines market. Another significant factor that led in the growth of this market is related with the increasing pressure on manufacturers of cost-reduction for which they are investing in advanced label printing machines. This helps them in cost reduction and still maintains their prints, which will also benefit the growth in the global label printing machines market.
There are various other factors contributing in the growth of the global label printing machines market for which Transparency Market Research has published a report. In this report, all the factors influencing the market are thoroughly analyzed. Let’s take the example of revenue growth in the global label printing machines market, where the report states that by the end of 2027 the market may cross US$ 7.8billion. Over the forecast period between 2019 and 2027, CAGR is expected to be near 5%, which will assist in the market in gaining this revenue.
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Extending Reach to Newer Regions – A Key Strategies Widely Used by Players
With high opportunity in this market along with high revenue generation prospects available in this market has encourage players to invest in various organic and inorganic business development strategies. Some of the prominent players operational in the global label printing machines market include Toshiba Tec Corporation, SATO Holdings Corporation, Zebra Technologies Corporation, Seiko Epson Corporation, Brother Industries, Ltd, Honeywell International, Inc., Brady Corporation, Citizen Group, and Shandong New Beiyang Information Technology Co., Ltd. (SNBC).
Leading players in the global label printing machines market are taking stern steps in introducing new techniques to reduce increasing sales of counterfeit goods. Introduction of sophisticated security features onto product labels by leveraging barcodes and QR codes are being deployed that will allows customers to confirm the authenticity of the purchased goods. Besides this, they are also investing in different strategies that will help them in getting higher share in against their competitors. Regional expansion is also one of the key strategy used by the players operating in this market. Tapping and establishing grounds in new regions is currently strategy that is widely accepted by number of players. This step will not only give them opportunity to grow in newer regions but will also benefit them in strengthening position in those regions.
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Booming Industrial Sector Offering Higher Growth Opportunities in Asia Pacific Label Printing Machines Market
In terms of regional expansion and growth, Asia Pacific seems a very lucrative region where the global label printing machines market can grow significantly in the coming years. Booming industrial sector is a major reason for the growing demand for label printing machines in the region. Use of different innovative and advanced business development strategies has further triggered growth of label printing machines in Asia Pacific region. Moreover, advertising and labelling are very crucial aspects in most the sectors including food and beverages, pharmaceuticals, healthcare, and skin and personal care sector. In all these sectors, the demand for label printing machines has grown significantly for better promotion activities. With respect to country specific growth, Japan is likely to hold major share in the Asia Pacific label printing machines market.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Label Printing Machines Market (Print Mechanism: Thermal, Non-thermal; Color Support: Multicolor, Monochrome; Industry: Manufacturing, Packaging, Transportation & Logistics, Retail, Others (Research, Postal Services, Construction) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 – 2027”.
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The Asia Pacific to Upkeep its Consolidated Market Position
A significant spurt in the demand for label printing machines is attributable to surging industrialization activities. The ‘Grab n’ Go’ food trend has compelled the food and beverage industry to roll out more packaged products. The curative over preventive healthcare approach has instigated the use of label printers in the pharmaceutical industry. Enhanced focus on skin and personal care is giving label printing machines the desired traction in the cosmetic industry. All these trends are allowing the manufacturing industry to make headway towards upholding the demand for label printing machines. This has presented improved market opportunities to market players in Asia Pacific, given the enormous potential of the manufacturing sector in the region. Japan is projected to remain home to market majors in the industry that seek measureable growth opportunities through market penetration and product innovation.
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