Rise in acceptance of big data tools and the need for reducing operating costs drive the growth of the global label printing software market. The surge in cloud printing service use and rise in print security spending will open new growth opportunities for the global market. Short-term supply outages and supply shortages created logistical difficulties such as slow service delivery to the end-use industries during the COVID-19 pandemic.
According to the report published by Allied Market Research, the global label printing software market amassed revenue of $565.2 million in 2021 and is expected to hit $936.2 million by 2031, registering a CAGR of 5.2% from 2022 to 2031. The market research study provides a detailed analysis of changing industry trends, top-most segments, value chain analysis, key investment business scenarios, regional space, and competitive space.
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The report offers detailed segmentation of the global label printing software market based on component, deployment model, organization size, end-use vertical, and region. It provides an in-depth analysis of every segment and sub-segment in tables and figures through which consumers can derive a conclusion about market trends and insights. The market report analysis aids organizations, investors, and entrepreneurs in understanding which sub-segments are to be tapped for achieving huge growth in the years ahead.
In terms of components, the solutions segment was the largest in 2021, accounting for more than three-fifths of the overall share of the global label printing software market. Moreover, this segment is predicted to retain its dominant position during the forecast timespan. Furthermore, the services segment is set to record the highest CAGR of 6.8% from 2022 to 2031.
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On basis of the deployment model, the on-premise segment held the largest share in 2021, contributing to nearly three-fifths of the overall label printing software market. Moreover, this segment is predicted to account for the highest market share by 2031. Furthermore, the cloud segment is also anticipated to record the fastest CAGR of 6.6% during the forecast timeframe. The report also analyzes other segments such as the off-grid segment.
Based on the organization size, the SMEs segment held the largest share in 2021, contributing to nearly three-fifths of the global label printing software market share. Moreover, this segment is predicted to account for the highest market share by 2031. Furthermore, the large enterprise segment is expected to register the highest CAGR of 6.4% during the forecast period.
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On the basis of end-use vertical, the retail segment held the largest share in 2021, contributing more than one-fourth of the global label printing software market share. Moreover, this segment is predicted to account for the highest market share by 2031. Furthermore, the foods and beverages segment is expected to register the highest CAGR of 8.0% during the forecast period.
Based on region, the North American continent contributed toward the highest market share in 2021, accounting for nearly two-fifths of the global label printing software industry share. The North American market is set to dominate the regional market in foreseeable future. The Asia-Pacific label printing software market is predicted to register the fastest CAGR of 6.4% during the forecast timespan. The report also analyzes regions including the LAMEA and Europe.
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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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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
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