How Are Coding and Marking Systems Benefitting Automotive Industry?
The hectic work life of people is compelling them to shift toward packaged foods, dairy products, fruit juices, and bottled water, which is, in turn, adding to the prosperity of the packaged food and beverage industry. This industry is using coding and marking systems to print product price, manufacturing and expiry date, ingredients, and other pertinent details on the packaging of food items and drinks. Thus, the escalating demand for packaged foods and beverages will fuel the adoption of coding and marking systems globally. Additionally, the increasing need to stop the sale of counterfeit automobile parts will also fuel the coding and marking systems market at a CAGR of 6.4% during the forecast period (2020–2030). According to P&S Intelligence, the market value will rise from $3,832.4 million in 2019 to $7,469.6 million by 2030. The Automotive Aftermarket Suppliers Association (AASA) estimates that the global automobile sector loses approximately $12.0 billion every year because...