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.
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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.
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
In terms of component, 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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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 market 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.
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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Covid-19 Scenario
- The Covid-19 pandemic created an adverse impact on the growth of the global label printing software market with disruptions in printing activities and supplier operations leading to supply shortages and temporary closure of factory units in countries such as Germany, China, the UK, Southeast Asia, and others.
- 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.
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