During the forecast period, the global market for barcode printers is anticipated to grow at a moderate rate of 7.4%. In 2022, the market is expected to be worth US$4,188.60 million. By the year 2032, it is predicted that the market for barcode printers will reach a high of US$ 8,552.87 Million. The experts at Future Market Insights have calculated historical for the relevant market.CAGR of 5.6%
A Barcode printer is defined as an electronic device designed specifically for the printing of barcodes. The working principle and build of a barcode printer are slightly different from computer printers as it uses ribbons and labels working in tandem to get a barcode printed. Barcode printers usually don’t have programmable logic controllers, but rely on an external computer system.
Growth in the manufacturing sector is reviving after the 2008 economic crisis. Automation and streamlining of manufacturing processes are being adopted by a large number of manufacturing companies worldwide to reduce time and material wastage, thereby improving efficiency and output. Barcoding is one such technique that is increasingly being adopted. This process has reduced production time considerably in the manufacturing process, thereby driving demand for barcode printers.
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Barcodes have become the de facto standard for product information storing and labelling. Retailers worldwide use barcodes for the hassle-free recording of supplies and commodities and their sales to customers. Barcodes imprinted on labels are stuck to the products and they record information about the product count, date of manufacture, date supplied to the retailer, selling price, etc.
When these products are scanned, the information is retrieved and monitored. This entire process, which is achieved within a matter of seconds, not only increases efficiency but also minimizes errors. This has helped retailers record their products and inventory on shop floors and warehouses.
However, the threat of RFID tags as substitutes to barcode labels and the low compatibility of barcode printers with different operating systems act as restraints in the global barcode printer market.
Segmentation highlights
The market is categorically divided into six segments based on printer type, printing technology, consumables, application, distribution channel, and region. The printer type segment of the barcode printers market includes Desktop Barcode printers, Industrial Barcode printers, Mobile Barcode printers and Others.
Based on printing technology, the market has been divided into Thermal Transfer, Direct Thermal, Dot Matrix, Laser and Ink Jet. Based on distribution channels, the market is segmented as Direct-to-End User, Direct-to-OEM, Dealer/Distributor, and Systems Integrator. Based on application, the market has been divided 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 for sturdy and rugged barcode printers with higher productivity.
- The 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 the 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.
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Regional projections
North America and Western Europe are the most promising regions for the market’s growth owing to a higher preference for barcoding technology in different applications, while the market in the Latin America region is on a slow and stagnant growth due to low adoption of barcoding technology. The development of the Barcode Printers market in the APEJ region may also grow at a slower pace due to saturation and the slowdown of the manufacturing sector in China.
The Industrial Barcode Printer Segment Holds the Highest Market Share in the Global Barcode Printers Market
Desktop Barcode Printers, Industrial Barcode Printers, Mobile Barcodeprintersr, and Others are the several types of barcode printers available. In the Barcode Printers Market, the Industrial Barcode Printer category has the most significant market share of 46.1 per cent, followed by the Desktop Barcode Printer.
Due to a desire for strong and tough barcode printers with higher productivity, the Industrial Barcode Printer segment is predicted to dominate in the forecast period with a CAGR of 8.3%.
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