Portland, OR, Sept. 21, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the Label Printing Software Market amassed revenue of $565.2 million in 2021 and is expected to reach $936.2 million by 2031, registering a CAGR of 5.2% from 2022 to 2031. The market research provides a detailed analysis of changing industry trends, most important segments, value chain analysis, major investment business scenarios, regional space and competitive space. The study is a key source of information for giant players, entrepreneurs, shareholders and owners to generate new strategies for the future and take action to improve their market position. The report presents an in-depth quantitative analysis of the market from 2022 to 2031 and guides investors in allocating funds to the rapidly changing industry.
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Report coverage and details:
|Year of reference||2021|
|Market size in 2021||$565.2 million|
|Market size in 2031||$936.2 million|
|Number of pages in the report||277|
|Segments Covered||Component, Deployment Model, Organization Size, End-Use Vertical, and Region|
|Drivers||Increasing acceptance of Big Data tools and the need to reduce operating costs.|
|Measures to minimize the use of office paper and the need to improve productivity and information security.|
|Flexibility in meeting consumer demands.|
|Opportunities||Increased use of cloud print services and increased spending on print security.|
- The Covid-19 pandemic has negatively impacted the growth of the global label printing software market with disruptions to printing businesses and vendor operations leading to supply shortages and temporary shutdown of factory units in countries such as Germany, China, UK and South East Asia. , and others.
- Short-term supply disruptions and supply shortages have created logistical challenges such as slow service delivery to end-use industries during the COVID-19 pandemic.
The report offers detailed segmentation of the global label printing software market on the basis of component, deployment model, organization size, end-use vertical, and region. It provides in-depth analysis of each segment and sub-segment in tables and figures through which consumers can draw conclusion about market trends and outlook. Market report analysis helps organizations, investors, and entrepreneurs to understand which sub-segments are to be tapped to achieve huge growth in the coming years.
In terms of components, the solutions segment was the largest in 2021, accounting for more than three-fifths of the overall global label printing software market share. Moreover, this segment is expected to maintain its dominant position during the forecast period. Moreover, the services segment is expected to register the highest CAGR of 6.8% from 2022 to 2031.
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Based on the deployment model, the on-premises segment held the largest share in 2021, contributing nearly three-fifths of the overall label printing software market. Moreover, this segment is expected to account for the highest market share by 2031. Furthermore, the cloud segment is also expected to register the fastest CAGR of 6.6% during the forecast period. The report also analyzes other segments such as the off-grid segment.
Based on organization size, the SME segment held the largest share in 2021, contributing nearly three-fifths of the global label printing software market share. Moreover, this segment is expected to account for the highest market share by 2031. Additionally, the large enterprise segment is expected to register the highest CAGR of 6.4% during the forecast period.
Based on the end-use vertical, the retail segment held the largest share in 2021, contributing more than a quarter of the global label printing software market share. Moreover, this segment is expected to account for the highest market share by 2031. Additionally, the food and beverage segment is expected to register the highest CAGR of 8.0% during the forecast period.
Based on region, the North American continent contributed the highest market share in 2021, accounting for nearly two-fifths of the global market label printing software industry to share. The North American market is expected to dominate the regional market for the foreseeable future. The Asia-Pacific label printing software market is expected to register the fastest CAGR of 6.4% during the forecast period. The report also analyzes regions such as LAMEA and Europe.
Key participants in the global label printing software market examined in the research include Canon, Inc., Seiko Epson Corporation, Epaper Ltd., Nuance Communications, Hewlett-Packard Inc., HID Global, Ringdale UK Ltd., Honeywell International Inc., Lenovo Group Ltd. and Xerox Corporation.
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The report assesses these major players in the global label printing software industry. These players have implemented a range of major business strategies such as expanding regional and customer bases, launching new products, strategic alliances and joint ventures to expand product lines in global markets. The market research report supports tracking the performance of each segment, the positioning of each product in the respective segments, and the impact of new technologies and product innovations on the overall market size.
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Pawan Kumar, CEO of Allied Market Research, leads the organization in delivering high quality data and insights. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.