Publication date: 08 Jun 2023
Digital Label & Packaging Market Thrives in Asia/Pacific* Amid Economic Downturn, IDC Finds
SINGAPORE, June 08, 2023 – According to IDC Worldwide Industrial Printer Tracker, a total of 52 units of digital label and packaging printer was shipped in 1Q2023 for Asia/Pacific excluding Japan (APeJ), with a sequential growth of 15.6% and an annual growth of 23.8%.
The digital label and packaging market had witnessed steady growth in recent years especially post-pandemic, defying economic downturn during the first quarter of 2023. Leading vendors in the industry such as Epson, Screen, and Konica Minolta, had consistently showcased their expertise and innovation in the label and packaging market in APeJ.
The primary application, label printing, experienced a significant growth, with a quarterly increase of 44.4% to 39 units. However, the other applications like corrugated, flexible packaging and folding carton show a decline or remain stagnant. This indicates the increasing adoption of digital label and packaging printing solutions among the businesses in the region.
"Fueled by the surge in personalized printing and customization, the digital label and packaging market is witnessing robust growth," says Sharon Cheng, Senior Market Analyst at IDC Asia/Pacific. "In an era where consumers demand tailored experiences, brands are turning to digital solutions to meet these expectations," ends Cheng.
“Digital label and packaging printers are being utilized as automated packaging processes, catering to various smart manufacturing systems such as small-quantity batch production, flexible manufacturing, and on-demand production. Digital label and packaging printing will be one of integral parts of the future smart production process, enhancing the efficiency, profitability, and environmental sustainability, while also driving consumer customized demands.” said Eunae Jo, Senior Market Analyst, Imaging Printing and Document Solution, IDC Asia/Pacific.
To know more about the IDC Worldwide Quarterly Industrial Printer Tracker, please contact Sharon Cheng at firstname.lastname@example.org or Eunae Jo at email@example.com. For media inquiries, please contact Miguel Carreon at firstname.lastname@example.org or Michael de la Cruz at email@example.com.
*Asia/Pacific excluding Japan
About IDC Trackers
IDC Tracker products provide accurate and timely market size, vendor share, and forecasts for hundreds of technology markets from more than 100 countries around the globe. Using proprietary tools and research processes, IDC's Trackers are updated on a semiannual, quarterly, and monthly basis. Tracker results are delivered to clients in user-friendly excel deliverables and online query tools.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world's leading tech media, data and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDCAP and LinkedIn. Subscribe to the IDC Blog for industry news and insights.
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