Barcode Printers Sector to Witness Substantial Growth, CAGR...

Barcode Printers Sector to Witness Substantial Growth, CAGR Forecasted at 5.6% by 2032

Posted 2024-04-17 13:30:31

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The Barcode Printers Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Barcode Printers market. Encompassing the research's scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Barcode Printers. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.

The Barcode Printers Market caters to a specialized niche in the printing industry, focusing on the production of barcode labels and images for various applications. Distinguished from conventional printers, these machines utilize distinct consumables and technology to generate high-quality, machine-readable barcodes efficiently and cost-effectively. With their ability to deliver clear, fast, and precise barcode printing, the Barcode Printers Market plays a pivotal role in enhancing inventory management, retail operations, and supply chain efficiency.

The global barcode printer market is expected to grow at a moderate 7.4% CAGR during the forecast period. The market is currently valued at US$ 4,188.60 million in 2022. By 2032, the barcode printer market is expected to reach a high of US$ 8,552.87 million. The relevant market has a historical CAGR of 5.6%, according to Future Market Insights experts.

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Barcode printers are specialty printers that produce barcodes and product labels. Barcode printers differ from standard printers in that they generate a barcode print image using different consumables. These printers are designed to print clear, machine-readable barcodes at faster speeds and at a lower cost.

A barcode printer is an electronic equipment that is specifically designed to produce barcodes. A barcode printer’s operation and design differ differently from those of a computer printer since it produces a barcode utilising ribbons and labels in tandem. Barcode printers typically lack programmable logic controllers and rely on an external computer system.

After the 2008 economic downturn, the manufacturing sector is reviving. A large number of manufacturing companies around the world are implementing automation and process streamlining to reduce time and material waste, thereby improving efficiency and output. Barcoding is one such technique that is becoming more popular. This process has significantly reduced production time in the manufacturing process, driving demand for barcode printers.

For storing and labelling product information, barcodes have become the de facto norm. Barcodes are used by retailers all over the world to easily record supplies and commodities, as well as client sales. Labelled barcodes are attached to products and record information such as product count, date of manufacturing, date given to retailer, selling price, and so on.

The information is retrieved and monitored when these products are scanned. This entire process, which takes only a few seconds, not only increases efficiency but also reduces errors. This has aided retailers in keeping track of their products and inventory on store floors and in warehouses.

However, the threat of RFID tags as barcode label substitutes, as well as the incompatibility of barcode printers with various operating systems, act as restraints in the global barcode printer market.

Highlights of segmentation

The market is classified into six segments: printer type, printing technology, consumables, application, distribution channel, and region. The barcode printers market’s printer type segment includes Desktop Barcode Printers, Industrial Barcode Printers, Mobile Barcode Printers, and Others.

The market is divided into Thermal Transfer, Direct Thermal, Dot Matrix, Laser, and Ink Jet printing technologies. The market is divided into four distribution channels: direct-to-end user, direct-to-OEM, dealer/distributor, and systems integrator. The market has been segmented by application into industrial/manufacturing, transportation/logistics, retail, healthcare, government, and commercial services.

· The Industrial Barcode Printer segment holds the highest market share of 46.1% closely followed by the Desktop Barcode Printer in the Barcode Printers Market. The Industrial Barcode Printer segment is also expected to dominate in the forecast period with a CAGR of 8.3% due to a preference of sturdy and rugged barcode printers with higher productivity.

· Thermal Transfer segment holds the highest market share amongst all with 62.8% and is expected to improve further in the forecast period owing to very less cost involved, while Dot Matrix, Laser, and Ink Jet printing technologies are least preferred technologies and are on the verge of being phased out.

· Dealer/Distributor is the most preferred supply channel and is expected to dominate in the future due to higher distribution efficiency, low supply costs and faster delivery times.

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