Fiber Laser Coding System Market Is Projected to Grow at a Substantial Rate by 2028
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Consumer goods are coded and marked during transportation. Several methods are used by different players in the logistics industry. One such method of coding goods is a fiber laser coding system. This system is used to directly mark unique identification features on several materials. Fiber laser coding systems can print directly on several substrates like metals, plastics, paper, glass, etc. These also provide better protection against counterfeits of consumer goods. Apart from tracking products, fiber laser coding systems also help manufacturers to focus on brand building, product traceability, and quality assurance. High-speed printing, non-contact printing, clear printing, and flexible printing are some of the key features provided by a fiber laser coding system. During transit, a fiber laser coding system end-user can easily track the location and status of the goods. All these aspects have positively impacted the fiber laser coding system market during the forecast period.
Global Fiber Laser Coding System Market – Dynamics
In recent years, there has been an inclination towards better anti-counterfeiting detection systems like fiber laser coding. Another factor driving the growth of the fiber laser coding system market is the rising demand for FMCG. The stringent government regulations toward the industry standard for marking and coding are fuelling the growth of the fiber laser coding system market. Furthermore, fiber laser coding systems have high precision scan heads, which ensure high-quality print as compared to the other coding systems. Fiber laser coding systems are also cost-effective when it comes to maintenance charges, as compared to other marking and coding systems. In November 2016, Domino Printing Sciences plc launched high speed fiber laser coding system. In August 2016, Videojet Technologies, Inc. launched high speed fiber laser coding system for bottle cap printing applications. However, it is difficult for fiber laser coding systems to print on uneven surfaces which results in usage of more than one coding systems.
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Global Fiber Laser Coding System Market – Segmentation
The global fiber laser coding system market is segmented by substrate, machine, application type, and end use. The pricing for fiber laser coding system has being done based on the machine type segment in US$ million, and the volume is considered in units.
On the basis of substrate type, the global fiber laser coding system market is segmented into –
On the basis of machine type, the global fiber laser coding system market is segmented into –
- Pulse Fiber Laser System
- Solid State Fiber Laser System
On the basis of application type, the global fiber laser coding system market is segmented into –
- Boxes & Cartons
- Vials & Ampoules
On the basis of end-use industry, the global fiber laser coding system market is segmented into –
- Electrical & Electronic
- Automotive & Aerospace
- Pharmaceutical & Medical
- Food & Beverages
- Personal & Homecare
- Chemical & Fertilizers
- Building & Construction
Fiber laser coding systems are mainly used to mark electrical & electronics and automotive & aerospace components.
Global Fiber Laser Coding System Market – Regional Overview
Increasing retail spending is expected to drive the fiber laser coding system market in North America during the forecast period 2018-2028. The Asia Pacific fiber laser coding system market is expected to witness the highest growth during the forecast period, due to a rise in demand towards better anti-counterfeiting systems in this region. The need for consistently correct & readable codes is driving the growth of the fiber laser coding system market in Europe. The fiber laser coding system market in Middle East & Africa is expected to witness sluggish growth during the forecast period.
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Global Fiber Laser Coding System Market – Key Players
A few of the key players in the fiber laser coding system market are Videojet Technologies, Inc., Domino Printing Sciences plc, Markem-Imaje Corporation, Hitachi America, Ltd., Interactive Coding Equipment (ICE), Diagraph Corporation, Squid Ink Manufacturing Inc., ATD Ltd, LaserStar Technologies Corporation, Linx Printing Technologies, MACSA ID, S.A., Martek Industries Ltd, TYKMA Electrox, Inc., etc.
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