The increasing need for product traceability and the use of connected technology in coding and marking equipment is anticipated to boost the growth of the coding and marking equipment market.

Tracing has become an essential part of the product management cycle as it enables manufacturers to track and trace products when required. Traceability of products helps manufacturing companies match replacement parts, track products, and quickly recall products. Thus, packaging companies are integrating technologies such as barcodes, RFID, QR codes, and Data Matrix codes for tracking and tracing products. Thus, the increasing need for product traceability will accelerate the demand for coding and marking equipment during the forecast period.