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The Growth of the Variable Data Printing Market in Labels Was Largely Influenced by New Product Launches and Technological Advancements in the Past Five Years
MarketsandMarkets projects the global variable data printing market in labels to grow from USD 10.79 Billion in 2016 to USD 22.27 Billion by 2021, at a CAGR of 15.61% from 2016 to 2021. The variable data printing market in labels is witnessing demand owing to the rise in manufacturing activities. Growing demand for the printing of customized and serialized data on labels for product differentiation, authentication, and tracking and tracing solutions, from end-use sectors such as food & beverages, pharmaceutical, and consumer durables, is expected to drive the growth of variable data printing market in labels in the coming years. The growth in the e-commerce sector has also been an important contributor to the rising demand for variable data printing in mature and developing economies.
The growth of the variable data printing market in labels was largely influenced by new product launches and technological advancements in the past five years. In March 2016, Canon Europe added a new continuous feed inkjet press, OcÚ ColorStream 6000 Chroma, to the product line of ColorStream presses, out of which 450 are already installed across Europe. The new OcÚ ColorStream 6000 Chroma infuses color vibrancy in continuous feed inkjet technologies for production printing. In September 2015, HP Inc. (U.S.) introduced the first HP PageWide Web Presses, powered by High Definition Nozzle Architecture (HDNA) and HP Indigo 7800 Digital Press enhancements, which delivers improved image quality, higher productivity, and more application options to print service providers (PSPs). Acquisitions were the second-most adopted strategy by the market players in the variable data printing in labels market. For instance, RR Donnelley & Sons Company acquired Consolidated Graphics, Inc. (U.S.), a provider of digital and commercial printing, fulfillment services, print management, and proprietary internet-based technology solutions to leverage the commercial printing business of Consolidated Graphics, Inc., and attain a strong position in the printing market.
HP Inc. (U.S.) is a key player in the technology products market in the U.S. The company operates its business through two segments: personal systems and printing. It has been adopting technological advancements as its key strategy to gain competitive advantage. The company continuously invests in technologies and facilities to provide improved products and services to its end customers. Through technological advancements, HP has been able to continually innovate and differentiate its products and services from those of its competitors. Owing to its wide portfolio of products and services, the company has positioned itself to offer integrated and comprehensive solutions.
Xerox Corporation (U.S.) is a leading name in the document technology market. It has undertaken acquisitions as one of the strategies to expand its businesses and geographic reach. Xerox has made investments in the fields of business process services, color printing, and customized communication and has developed innovative products. The company is well positioned to yield benefit from the growth of the digital printing market. Its product portfolio focuses on digital printing that includes digital printing presses, production printers and copiers, continuous feed printers, wide format solutions, workflow software, and sheet feeders and print finishing solutions. The strong digital product portfolio of the company has benefitted from the positive outlook for the variable data printing segment, and has hence resulted in the increase of its revenues.
Variable Data Printing Market in Labels by Label Type (Release Liner, Linerless), Composition (Facestock, Topcoat), Printing Technology (Thermal Transfer, Direct Thermal, Electrophotography, Inkjet), End-use Sector, Region - Forecast to 2021
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