The Uncharted Territories of Growth in Printers and Consumables with Barcode Revolution | Future Market Insights,Inc.

The barcode printer and consumable market is expected to be worth US$ 4,586.4 million in 2023. Sales are expected to expand at a solid 6.2% CAGR, hitting US$ 7,881.1 million by 2033. The increased usage of barcodes in the manufacturing industry is driving growth, which will enhance demand for barcode printers and supplies in the coming years.

According to the market research report from FMI, the production sector’s increased acceptance of barcodes and inventive ideas that drive companies to create industry-specific barcodes are the causes of the changing market dynamics.

Customer-centric production is further advanced with the advent of customization, AI-based analysis, and innovative content suggestions, fueling the sales of barcode printers and consumables. This strategy is adopted by the major players in the market. Modern-age data collection technologies such as barcode scanners and fruitful marketing techniques involving consumables are pushing the producers to adopt barcodes, which eventually expands barcode printers and consumables market size.

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The advent of wireless barcode printers and consumables in its industrial application as well as its usage in desktops creates lucrative opportunities for the barcode printers and consumables market.

However, the memory system and programmable logic controllers create failed attempts to decline the sales of barcode printers and consumables.

Key Takeaways from the Market Study:

• United States holds 30.3% of the global barcode printers and consumables market and is anticipated to hold its position with a CAGR of 9.0% during the forecast period. The growth is attributed to a higher number of retail stores and spreading digitization.
• China holds 8.3% of global barcode printers and consumables market and is likely to hold its position with a CAGR of 6.0% during the forecast period. The growth is owed to the demand for higher efficiency, automation, and increased manufacturing units.
• Another Asian market, Japan thrives at a CAGR of 7.0 in the global barcode printers and consumables market, attributing its growth to the higher demand from pharmaceuticals and logistics industries.
• Direct thermal printers are the most successful based on the printing technology due to the lower impact on the environment due to the elimination of poly-based binding materials.
• The healthcare industry is the biggest application segment in the barcode printers and consumables market.

“The future for barcode printers and consumables looks promising as digitization penetrates the market. Lately, brands deal with user interface issues to fix the issues related to it. The use of barcode tags in logistics and supply chain management ensures efficient inventory management, effective movement of shipments within logistics networks, and effective monitoring of manufacturing and assembly processes. This transforms the market into a futuristic market.” says a Future Market Insights analyst.

Competitive Landscape

Market participants are focused on minimizing wastage and innovative solutions to reduce environmental impact by implementing unique and sustainable labeling solutions for the apparel and retail industry. In addition to this, the key players are focusing on expanding their product portfolio through product launches and innovations in their existing products and expanding their global presence through acquisitions and expansion.

• Zebra Technologies Corporation, a manufacturer of marking, tracking, and computer printing technologies, announced that it had completed the acquisition of Matrox Imaging Company (Matrox Electronic Systems Ltd.), a developer of advanced machine vision components and software systems.
• Avery Dennison, a leading manufacturer announced in August 2021 that it has achieved BioPreferred certification from the USDA (US Dept. of Agriculture) for C4200, a new hot melt adhesives offering brands new opportunities to market sustainable packaging to their customers.

Key Companies Profiled:

• TVS ELECTRONICS
• ZEBRA
• Toshiba Tec Europe.
• HERMA Labeling Machines
• RYNAN Technologies Pte Ltd
• Honeywell International, Inc.
• Toshiba TEC Corporation
• SATO Holdings Corporation
• Avery Dennison Corporation
• TSC Auto Id Technology Co., Ltd
• Others

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