Projections indicate a moderate Compound Annual Growth Rate (CAGR) of 7.4% for the global barcode printer market during the forecast period. As of 2022, the market is valued at USD 4,188.60 million, with expectations to reach USD 8,552.87 million by 2032. Historical data provided by experts at Future Market Insights records a CAGR of 5.6% for the relevant market.
Barcode printers are specialized devices designed for the generation of barcodes and product labels. Unlike standard printers, they utilize specific consumables to efficiently and cost-effectively produce clear, machine-readable barcodes at high speeds.
These printers operate distinctly from traditional printers by incorporating ribbons and labels in their printing process. Unlike computer printers, they typically lack programmable logic controllers and rely on external computer systems for operation.
The manufacturing sector has experienced a resurgence following the economic downturn of 2008, leading many companies to adopt automation and process optimization. Barcoding has emerged as a favored technique in this regard, significantly reducing production time and driving the demand for barcode printers.
Barcodes have become the standard method for storing and labeling product information globally. They are extensively used by retailers for inventory management, recording supplies, customer sales, and other related data. By attaching labeled barcodes to products, retailers can efficiently track product details such as count, manufacturing date, delivery date, selling price, etc. The scanning of these barcodes enables swift retrieval and monitoring of information, leading to increased efficiency and reduced errors in inventory management across store floors and warehouses.
Despite the widespread adoption of barcoding, challenges such as the potential threat of RFID tags as substitutes for barcode labels and compatibility issues with various operating systems restrain the growth of the global barcode printer market.
Regional Forecasts:
North America and Western Europe are the most promising regions for market growth due to higher adoption of barcoding technology in various applications, whereas the Latin American market is growing slowly and stagnantly due to low adoption of barcoding technology. Due to the saturation and slowdown of China’s manufacturing sector, the growth of the APEJ region’s Barcode Printers market may also be slower.
The Industrial Barcode Printer Segment Holds the Highest Market Share in the Global Barcode Printers Market:
There are several types of barcode printers available, including desktop barcode printers, industrial barcode printers, mobile barcode printers, and others. The Industrial Barcode Printer category has the largest market share of 46.1 percent in the Barcode Printers Market, followed by Desktop Barcode Printer.
The Industrial Barcode Printer segment is expected to dominate the forecast period with a CAGR of 8.3% due to a desire for strong and tough barcode printers with higher productivity.
Competitive Landscape:
Key Players’ Perspective on Revolutionizing the Barcode Printers Market
The forum’s key players are focusing on introducing new products and improving their product offerings to better cater to the changing needs of end-user industries while maintaining their global competitiveness.
Market participants are paying close attention to the maintenance of product quality and innovation. They are also attempting to diversify their manufacturing range by producing products of various types such as desktop barcode printers, mobile barcode printers, and others in order to increase their market share.
Some of the key companies proliferating in the market are:
- Zebra Technologies
- Toshiba Tec
- Avery Dennison
- Honeywell Scanning & Mobility
- SATO Holdings Corporation
Key Segments in the Barcode Printers Market:
By Printer Type:
- Desktop Barcode Printer
- Industrial Barcode Printer
- Mobile Barcode Printer
- Others
By Printing Technology:
- Thermal Transfer
- Direct Thermal
- Dot Matrix
- Laser
- Ink Jet
By Consumables:
- Ribbons
- Wax Ribbons
- Wax/Resin Ribbons
- Resin Ribbons
- Labels
By Application:
- Industrial/Manufacturing
- Transportation/Logistics
- Retail
- Healthcare
- Government
- Commercial Services
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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