Coding and Marking: Dover, Danaher, Domino, ITW, Matthews. who has the "Secret Code of Success"

CHICAGO - April 1, 2016 - PRLog -- Beige Market Intelligence has recently published a new report on Coding and Marking Market and the report has thrown some interesting insights.
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The coding and marking market is expected to boom and the market size is expected to grow at a CAGR of more than 7 percent in next five years. Now in such fast growing market, who has the "success code"?

The competitive scenario in the Worldwide Coding and Marking market is intensifying currently. The market leaders are providing high quality products with additional features such as RFID system, QR codes required to enhance the performance of the products, while local vendors such as Macsa ID and Iconotech are providing less expensive products offering only basic features.

The five major leaders in the Worldwide Coding and Marking market are Dover Corp., Danaher Corp., Domino Printing Sciences PLC, ITW Inc., and Matthews International Corp. All these companies have global presence across minimum of three major geographic regions such as North America, the APAC region, Europe, Latin America, and the MEA region.

Currently Dover is leading the market. Having said that the competition is too tight any the next three competitors are too close to each other. In fact couple of big deals can change the competitive landscape and any top 4 can become the TOP vendor.

The mantra for success is simple, play on your strength and tap the untapped opportunity.

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Dover
According to Beige Market Intelligence the biggest strength of Dover is a strong geographical presence. The coding and marking products of the company are distributed across 130 countries, which helps in market penetration. Dover need to now expand in different industries across the geographies and countries. Another strength of the company is product performance and innovation.

Success CODE: Build the portfolio across countries and industries by acquiring companies producing coding and marking product. Report the same style of acquisition that was done in 2014, but this time the geography should be APAC and Middle-East & Africa.

Danaher
The key strength of Danaher is widespread geographical distribution and huge customer base of more than 11,000 customers which is driving its recurring revenue and add-on sales. The brand owners such as P&G, Pepsi, Alcon, Target, Unilever, L'Oreal, Coca Cola, Motorola, 3M, and Walmart are few of its customers.

Success CODE: Danaher success mantra should be localization Emerging markets could help the company in accruing more revenue and market share. The company has already made an initiative in these developing regions. In 2013, it builds US$800 million business in Latin America, as well as in Russia, Turkey, and Eastern Europe. It accrued US$500 million business in Africa and Middle East, and US$250 million revenue in India. Capture the high growth emerging countries to be a clear leader in coding and marking market.

Domino Printing
According to Beige Market Intelligence, Domino Printing's key strength lies is focus on resource efficiency, which, in turn, results in high quality and efficient products. For example, Domino A420i has low service routine and extended ink life. It minimizes waste and service mileage. Also, the upgrade of the product is 40 percent lighter than the previous models.  Also, Domino's board range of offering enables it to serve diversified industries such as Beverage, Food, Cosmetics, Pharma, Tobacco, Electronics, Construction, and Cable and Wire

Success CODE: Consistent high level of investment in development of products, which caters to specific industries would help increasing the growth of the company. Growing initiative to cater to demand by companies for developed solutions would help in further market penetration.

ITW
According to Beige Market Intelligence, the core strength of ITW is its strong patent portfolio creates market exclusivity for its products, providing a competitive advantage over its competitors. The company had about 16,000 granted and pending patents. The coding and marking equipment which is covered in the Specialty segment has total of 3,766 patents.

Success CODE: ITW should focus on new product development in the Specialty domain. This is one of the core competitive advantage of the company. Lag in development of new products due to delays in research, development, commercialization, and production of products can adversely affect the revenue of the company. Thus, tapping on this opportunity along with other strategies would ensure that the company would achieve the aimed goal of 20 plus returns on capital by 2017.

Matthew International
Continuous product innovation is the key strength of the company. Matthew International spent a huge portion of its revenue on R&D which exhibits the company's seriousness in innovation new product and capturing the market. The company should continue doing it as the product within coding and marking offered by different vendors are same and only product differentiation will help the company to tap the market.

Success CODE: Matthew International should focus more outside US. The company accrues the majority of its revenue from US market. Thus, it has an opportunity for further market penetration and increase in customer base by providing more solutions across Europe, Australia, and Asia. In 2015, marking and fulfillment manufacturing offices are present across Pittsburgh, Beijing, Cincinnati, Germantown, Gothenburg, Ixonia, Tualatin, and Tianjin City.

The top vendors should also be watchful of some of the emerging players in the market. The prominent one who can give tough competition to the TOP 5 are


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