Pune India, Jan. 21, 2023 (GLOBE NEWSWIRE) — The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the barcode printer market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the barcode printer market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the product, end-user, and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global barcode printer market Zebra Technologies Corporation, Honeywell International Inc., Toshiba Tec Corp, SATO Holdings Corporation, Avery Dennison Corporation, GoDEX International Co., Ltd., Printronix, Inc., TSC Auto Id Technology Co., Ltd., Printek, Inc., Oki Electric Industry Co., Ltd., Stallion Systems and Solutions Pvt. Ltd. among others. To achieve a substantial market share in the worldwide barcode printer market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
In the specialty printing market, barcode printers enable the production of barcodes that can be attached directly to physical objects, or printed directly on them. In recent years, barcodes have become a standard format for storing and labeling product information, simplifying the usage of various commodities and supplies. Barcode labels can contain information such as the manufacturing date, the date the product was supplied to the retailer, the number of products, the price, etc. Additionally, thermal barcode printers are becoming increasingly common in on-demand printing applications as thermal printing technology is increasingly used. Besides being increasingly adopted for improving productivity, the market for thermal printers is also growing due to concerns about product safety and anti-counterfeiting, as well as the increasing adoption of automatic identification and data capture technologies. Through barcodes, retailers can monitor inventory, automate reordering of products, compare sales of similar products from national brands to private labels, track color, size, and other product attribute preferences, customize targeted promotions based on customer buying habits, and identify a customer’s particular buying preferences. There are some factors which are hampering the growth of the market such as low compatibility with numerous operating systems, stringent regulations on printing availability of alternative solutions such as RFID tags.
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Scope of Barcode Printer Market Report:
|Market Share Unit||USD Million|
|Segments Covered||Product, End-User, and Regions.
|Regions Covered||North America, Europe, Asia-Pacific, South America, and Middle-East and Africa|
|Major Players||Zebra Technologies Corporation, Honeywell International Inc., Toshiba Tec Corp, SATO Holdings Corporation, Avery Dennison Corporation, GoDEX International Co., Ltd., Printronix, Inc., TSC Auto Id Technology Co., Ltd., Printek, Inc., Oki Electric Industry Co., Ltd., Stallion Systems and Solutions Pvt. Ltd. among others|
Thermal transfer is expected to be the fastest-growing segment in 2022.
The technology segment includes thermal transfer, laser, ink-jet, impact, and direct thermal. The thermal transfer segment is expected to witness the highest growth rate during the forecast period. A thermal printhead is used in thermal printing to heat the designated surface, and it uses a heated ribbon and printing materials to transfer images onto the surface. Considering that it is capable of handling mission-critical applications and has improved image durability, this technique is expected to dominate the market over the next few years.
Retail is expected to be the fastest-growing segment in 2022.
The end-user segment is shipping, retail, manufacturing, healthcare, and others. The retail segment is expected to witness the highest growth rate during the forecast period. Points of sale, product labels, and shelf labels are all applications utilizing barcode printers. Before shipping items, barcodes are placed on packing slips to validate the order number and part number.
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the barcode printer market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North American region witnessed a major share. Various industries have adopted barcodes and labels at a high rate, which makes North America among the top investors and innovators in the barcode printer market. Additionally, the region’s growing end-user industries provide vendors with massive opportunities to invest in the region, with many of the major vendors coming from the United States, boosting the regional market growth.
Germany’s barcode printer market size was valued at USD 261.7 million in 2022 and is expected to reach USD 473.7 million by 2030, at a CAGR of 7.6% from 2023 to 2030.
There is an increasing demand for barcode and RFID printers in sectors such as retail, healthcare, inventory control, textiles, and logistics in Germany.
China’s barcode printer market size was valued at USD 326.7 million in 2022 and is expected to reach USD 600.23 million by 2030, at a CAGR of 7.9% from 2023 to 2030.
A large expenditure in developing barcode printer technology in the country, coupled with the expanding end-use sectors, presents many opportunities for vendors to invest in the local market.
India’s barcode printer market size was valued at USD 251.3 million in 2022 and is expected to reach USD 458.29 million by 2030, at a CAGR of 7.8% from 2023 to 2030.
The government is expected to provide financial assistance to micro and small businesses for the adoption of barcodes during the forecast period, enabling these businesses to improve their marketing competitiveness, which will increase demand for barcode scanners and printers.
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the increasing demand from the retail sector, propelling the growth of the market across the countries.
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