Documenting a year-on-year (Y-o-Y) growth rate of 4.95%, the global label printing software market is expected to hold a value of US$ 585 million in 2022, compared to US$ 557.4 million in 2021. This steady growth is driven by several key factors, including the rising popularity of sustainable practices and the integration of advanced technologies in the printing industry.
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.
Competitive Landscape – Regional Trends:
The label printing software market exhibits a competitive landscape characterized by regional trends. Various regions across the globe are experiencing unique dynamics in this market. North America, for instance, is witnessing a surge in demand for label printing software due to the growth of e-commerce and the need for attractive packaging. In contrast, the Asia-Pacific region is showing substantial potential, driven by the expanding manufacturing sector and rising consumer goods industries.
Restraints:
While the label printing software market shows promising growth, it is not without its challenges. One of the notable restraints is the increasing competition in the industry. As more players enter the market, companies must continually innovate to maintain a competitive edge. Additionally, the market may face limitations in terms of adoption among smaller businesses due to cost constraints and limited resources.
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Region-wise Insights – Category-wise Insights:
Region-wise, North America and Europe are expected to remain dominant players in the label printing software market. North America’s strong presence can be attributed to its robust retail sector and increasing e-commerce activities. In contrast, Europe’s market growth is driven by the food and beverage industry’s demand for label printing software.
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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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