Report ID: SQMIG20K2007
Report ID:
SQMIG20K2007 |
Region:
Global |
Published Date: March, 2024
Pages:
154
|
Tables:
90 |
Figures:
70
Global Labelling Equipment Market size was valued at USD 5.6 Billion in 2022 and is poised to grow from USD 7.4 Billion in 2023 to USD 10.3 Billion by 2031, at a CAGR of 10.3% during the forecast period (2024-2031).
Many factors are driving the massive rise in the global labelling device market. The increasing need for effective and automated labelling solutions across businesses, in addition to food and drink, prescription medications, cosmetics, and guest products, is a major motivator. As the importance of product safety, traceability, and legal compliance grows, producers are implementing better labelling tools to ensure accurate and standardized labelling procedures. Additionally, the performance and dependability of labelling devices are being improved by technological improvements including the integration of RFID, IoT, and AI-driven structures, which is further boosting the market expansion.
The growing e-trade market is fueling the need for flexible and high-speed labelling solutions to fulfil the demands of quick product rotation and personalization. Geographically speaking, due to the presence of important industrial hubs and rising investments in automation, regions like Asia Pacific and North America are expected to lead the market. However, challenging circumstances such as high initial capital costs and the requirement for experienced operators may partially impede market expansion. All things considered, the global market for labelling devices is expected to grow steadily over the next several years due to business demand and technical advancements.
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Report ID: SQMIG20K2007