The global label printing software market is anticipated to reach US$ 585 million in 2022, up from US$ 557.4 million in 2021, reflecting a Y-o-Y growth rate of 4.95%. The market is anticipated to increase at a compounded pace of 4.6% from 2022 to 2032, reaching a market value of US$ 918.5 Million.
“The market in the assessment period is projected to profit from the growing popularity of sustainable methods and integration of cutting-edge technologies in the printing sector.”The market is anticipated to grow in demand for promotional items from a variety of end-user industries, including retail, food, and beverage. Another important aspect enhancing the industry in the near future is predicted to be the spread of technology.
Regionally, the U.S is anticipated to lead the market. Growing deployment of NFC tags in the food and beverage market is another salient cause augmenting the market size in the forecast period. Heinz, an American food processing company, uses an AR-based application to allow users to access secret recipe books by obtaining the smart label printed on the product through smartphones. APAC, on the other hand, is projected to be the most lucrative market. Growth can be attributed to the presence of developing countries, rapid urbanization, and the increasing popularity of e-commerce.
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Key Takeaways from the Market Study
· Global label printing software market to surge 1.6x from 2022 to 2032
· U.S market for label printing software to secure US$ 316.7 Million by 2032
· By deployment, cloud-based label printing software is expected to lead the market, recording a CAGR of 4.2%
· By application, large enterprises projected to exhibit a CAGR of 4.5% during the forecast period
· Market in China is expected to display a CAGR of 3.8% in the forecast period
· U.K is anticipated to secure a market value worth US$ 39.8 Million by 2032
“Increasing popularity of eco-friendly methods and emergence of IoT, machine learning in the printing sector is projected to support the market growth in the forecast period,” remarks an FMI analyst.
Competition Analysis
Key players in the market include Zebra Technologies Corporation, Endicia , Online Labels, Seagull Scientific, and Loftware, Inc. Key developments in the industry are:
· In March 2021, Fort Dearborn, a US-based supplier of high-impact decorative labels for food, beverage, and others, announced the acquisition of Hammer Packaging Corporation. It will help Fort Dearborn in enhancing its position in the decorative label and packaging marketplace by augmenting the company’s geographic footprint, capabilities, and capacity.
· In February 2021, Mondi Group, a UK-based multinational packaging, and paper group, rolled out two new paper-based sustainable EverLiner products called, EverLiner M R and EverLiner Labelite. They have been created using recycles and lightweight materials.
· In April 2021, Neenah Inc., a US-based manufacturer of specialty materials, achieved nine verified U.S Department of Agriculture (USDA) Certified Biobased Products in its durable label solutions lineup, which affirms its commitment to sustainability efforts.
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Key Segments Profiled In The Label Printing Software Market Report
Global Label Printing Software Market by Application:
- Global Label Printing Software for Large Enterprises
- Global Label Printing Software for SMEs
Global Label Printing Software Market by Deployment:
- On-premises Global Label Printing Software
- Cloud-based Global Label Printing Software
Global Label Printing Software Market by Region:
- Global Label Printing Software Market in North America
- Global Label Printing Software Market in Europe
- Global Label Printing Software Market in Asia Pacific
- Global Label Printing Software Market in Middle East and Africa
- Global Label Printing Software Market in Latin America
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Summary of Statistics
1.3. Key Market Characteristics & Attributes
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.1.1. COVID-19 Crisis and Impact on Label Printing Software Demand
3.1.2. COVID-19 Impact Benchmark with Previous Crisis
3.1.3. Impact on Market Value (US$ Mn)
3.1.4. Assessment by Key Countries
3.1.5. Assessment by Key Market Segments
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