Digital Label Printers Market: Introduction
Transparency Market Research delivers key insights for the digital label printers market in its published report, which include global industry analysis, size, share, growth, trends, and forecast for 2019–2029. In terms of revenue, the global digital label printers market is projected to grow at a CAGR of 6.5% during the forecast period, owing to several factors, about which TMR offers detailed insights and forecasts in the digital label printers market report.
Digital label printers are an efficient and effective solution for manufacturers in the labelling industry to their manufacturing productivity and accuracy. Digital label printing does not require the creation of press plates, which shortens setup time. This can lead to faster production time and order turnaround. As digital printers recreate the image with each print and do not use the same plates as in offset or flexographic printing they provide the freedom to print multiple versions of the same label. TMR team segmented the analysis of the digital label printers market based on technology type, ink type, speed, end use and region. As per TMR analysis, by technology type, the inkjet printers segment in the global digital label printers market is anticipated to account for substantial market share and is expected to drive the overall digital label printers market throughout the forecast period.
Increasing Demand for Digitally Printed Labels from Pharmaceutical, Medical Devices Companies
In the healthcare industry, pharmaceutical products and medical devices have witnessed tremendous growth in the past decade. The rapid growth is on the back of huge research and development investments made by pharmaceutical drugs and medical devices manufacturers. The growth in the industry is coupled with the increasing demand for custom and sophisticated labels. The labels in the healthcare industry are not only used for branding and marketing purposes but various other applications. The labels on the pharmaceutical products have to carry regulatory information, drug details, counterfeit protection solutions and tracking solutions. As a result, there is significantly high importance for labels in the healthcare industry as compared to the others and digital label printers are preferred by the manufacturers in the industry for their efficiency, accuracy and convenience. The consistent evolution of the healthcare industry is anticipated to bolster the market demand for digital label printers in the market.
Innovation in Digital Label Printers Market to Bolster Market Growth
In the digital label printers market, manufacturers have the opportunity to capture maximum market share by introducing products with features that are restraining the market growth.
The higher cost of the inks in the inkjet label printers is the reason many end use industry players are still using traditional alternatives. Further, some types of inks that are available in the market are required to be kept in specific temperature ranges to achieve the desired shelf life, which adds to the operational costs. The increasing popularity of automation and integrating the production lines require the machines to be made compatible with industry 4.0, which is highly desired by the brand owners. The warm-up time required by the printers if minimized can prove to be a boon for the end users as it will increase the efficiency and productivity of the process. All these factors have the potential to become a great opportunity for the players in the digital printed labels market.
Growing Preference of Players in Labelling Industry for Digital Label Printers
The digital printing technology is gaining popularity among the manufacturers of labels owing to several benefits offered by it. The digital printers are available in a variety of capacities, printing technologies and competitive pricing in the market making them favorable for big as well as small players. As opposed to the traditional label printers the digital printers can be used to manufacture small batches and the labelling content can be easily customized as per requirement which is very advantageous to small players in the industry. The benefit of eliminating prepress steps like making plates with label content helps in saving a lot of time for the manufacturers. Further, digital printers also provide ease in printing finer details like serial numbers, barcodes, etc. in small fonts without distorting the image quality. The advanced features like the availability of UV ink help to keep the label print quality unharmed under exposure to different temperatures and light conditions. As a result of several benefits of digital printing many label makers and end-use industry players are preferring digitally printed labels for their products as they are comparatively economical, efficient and helps in attracting maximum customers.
Digital Label Printers Market: Competition Landscape
The global digital label printers market is projected to witness strong competition among key players. This market includes few well-established market participants. Along with this, several other local and small-scale manufacturers are also entering into digital label printers market attributing to significant revenue creation opportunities. Some of the key players operating in the global digital label printers market are Canon Inc., AstroNova, Inc., Domino Printing Sciences plc, Arrow Digital Private Limited, VIPColor Technologies Pte Ltd, Colordyne Technologies LLC, Seiko Epson Corporation, HP Inc., Mimaki Engineering Co. Ltd., Konica Minolta Inc., and Bitek Technology Inc. among others.
The tier structure is formulated on the basis of segmental revenue and market share of the company. As per tier structure HP Inc., Seiko Epson Corporation and Konica Minolta Inc. are the tier 1 players in the digital label printers market. These leading companies are adopting key strategies such as business expansion, acquisition and products launch to strengthen their position in the digital label printers market. Moreover, tier 2 players are Canon Inc., Domino Printing Sciences plc, and Mimaki Engineering Co. Ltd among others.
Global Digital Label Printers Market Segmentation
Digital Label Printers Market by Technology Type
- Inkjet Printers
- Laser Printers
- Others (Electrophotographic, etc.)
Digital Label Printers Market by Ink Type
- Solvent Based
- Water Based
- UV Based
- Others (Latex Based, etc.)
Digital Label Printers Market by Speed
- Less than 30 meters/min
- 30 - 50 meters/min
- More than 50 meters/min
Digital Label Printers Market by End Use
- Food & Beverages
- Personal Care & Cosmetics
- Home Care
- Consumer Durables & Electronics Goods (CDEG) Industry
- Other Industries (Chemicals, Automotive, etc.)
Digital Label Printers Market by Region
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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