During the forecast period, the global barcode printer market is anticipated to expand at a moderate CAGR of 7.4%. In 2022, the market is expected to be worth US$4,188.60 million. The barcode printer market is anticipated to grow to a maximum of US$ 8,552.87 million by 2032. The experts at Future Market Insights estimate that the relevant market has historically experienced a CAGR of 5.6%.
Barcode printers are specialised printers that create product labels and barcodes. In contrast to regular printers, barcode printers produce a barcode print image using various consumables. These printers are made to produce clear, machine-readable barcodes more quickly and inexpensively.
A barcode printer is an electronic device designed specifically for printing barcodes. The working principle and construction of a barcode printer differ slightly from that of a computer printer because it prints a barcode using ribbons and labels in tandem. Typically, barcode printers lack programmable logic controllers and rely on an external computer system.
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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.
Barcodes have become the de facto standard for storing and labelling product information. Retailers all over the world use barcodes to easily record supplies and commodities, as well as their sales to customers. Barcodes imprinted on labels are adhered to products and record information such as product count, date of manufacture, date supplied 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.
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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
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Key Segments:
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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