PUBLISHER: KBV Research | PRODUCT CODE: 1292482
PUBLISHER: KBV Research | PRODUCT CODE: 1292482
The Global Barcode Printer Market size is expected to reach $6.8 billion by 2029, rising at a market growth of 7.6% CAGR during the forecast period.
The healthcare sector is adopting innovation and technologies swiftly and became one of the major end users of barcode printers, hence, healthcare sector attained $436.1 million in 2022. According to the new rules in the US and other European nations, every producer must include a special serial number as well as a 2D barcode on every medication container. Furthermore, barcodes are frequently utilized in the healthcare sector for a wide range of additional activities, such as surgical operations, patient identification, tracking devices, specimen labeling, etc. Some of the factors impacting the market are increasing barcode printers demand and usage in the retail sector, growing implementation of barcodes in companies for asset management, and low compatibility of barcode printers and availability of better solutions.
A reliable supply chain from e-commerce to physical storefronts is crucial, as is the availability of products. By the end of 2020, retail B2C e-commerce sales had a share of 18%, predicted to rise to 22% by 2024, according to the International Trade Administration. Hence, the growing retail sector is advancing the developments in the market throughout the forecast period. Barcode printer use is expanding as a result of a number of key factors, including the expansion of asset tracking solutions and the continuous technological developments in printing and printers. For market participants, this will likely present profitable growth prospects in the foreseeable future.
However, Barcodes can be used to obtain important data, but new information cannot be incorporated. Although it has more functionality, radio frequency identification (RFID) labels are similar to barcodes in certain ways. Consequently, these factors are anticipated to slow down the expansion of the market in the coming years.
Based on product, the market is categorized into desktop printers, mobile printers, industrial printers. The desktop printers segment procured a considerable growth rate in the market in 2022. Business organizations may rapidly, correctly, and effectively print tags, labels, and cards with desktop barcode printers. For companies who need to generate vast quantities of barcoded products, they can be the perfect tool. Businesses can select the ideal desktop barcode printer for their requirements from a wide range of sizes, designs, and colors.
On the basis of technology, the market is divided into thermal transfer, direct transfer, laser, and inkjet. The thermal transfer segment acquired the largest revenue share in the market in 2022. Heat is used during the printing process, known as thermal transfer, to transfer ink to a substrate. For example, a thermal printhead is used to heat a tiny coating of resin- or wax-based ink on an adhesive ribbon. The wax-based ink is melted onto the substrate or labeled by heating the ribbon with a heat source, like an infrared heating device. When heated ink comes into contact with the paper, it dissolves and transfers the picture to the support.
End User Outlook
By end-user, the market is fragmented into healthcare, manufacturing, retail & e-commerce, transportation & logistics, government, and others. The manufacturing segment garnered the maximum revenue share in the market in 2022. The widespread use of barcode printers in manufacturing is being driven by the strong focus on automation in the industry being pursued by numerous manufacturers around the world to streamline and improve manufacturing operations as part of their efforts to increase output while reducing wastage.
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment recorded the highest revenue share in the market in 2022. During the forecast period, North America will contribute the most revenue to the barcode printer industry due to its well-developed infrastructure and significant investment in extended research and development. The demand is anticipated to increase across North America as a result of the retail and e-commerce sectors' unrelenting growth and consumers' increasing preference for shopping via the Internet in the US and Canada.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Avery Dennison Corporation, Canon, Inc., Honeywell International, Inc., Sato Holdings Corporation, Zebra Technologies Corporation, Dascom, Printronix, LLC, Seiko Epson Corporation, Toshiba TEC Corporation (Toshiba Corporation) and Oki Electric Industry Co., Ltd.
Market Segments covered in the Report:
By End User
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