Barcode Printers Market to see 5% growth to hit US$3.5 Billion by 2024, By Key Vendors: Avery Dennison, Zebra Technologies, Toshiba, Honeywell, Canon, Inc., Seiko Epson Corporation Dominating

Mobile barcode printers market is expected to witness a significant growth at over 9% CAGR over the forecast timeline. It can be attributed to the ease-of-usage offered by these printers in several field-based applications. The mobile barcode printers are gaining popularity across retail & warehousing applications to issue authentic invoices, printing e-citation & mobile receipts regardless of the time and place. They are ideal solutions for printing-on-the-go, creating high-quality receipts & labels in any environment, outdoors, or indoors.

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Thermal-based printers comprise more than 65 percent of the overall barcode printers market share. Due to the features, such as high speed, low noise, and ease-of-cleaning and reliability offered, the thermal-based printers are increasingly utilized across several applications. The direct thermal technology is expected to witness growth over the forecast time span owing to the improved durability and low operational costs. These systems are ideal solutions for applications such as shipping labels and printing receipts and can develop barcode images on the material without a ribbon, making it eco-friendly.

The barcode printers market is highly competitive, witnessing intense competition among the players. Furthermore, the industry is slightly dynamic in nature characterized by innovations and advancements in the product portfolio. Players are making huge investments and spending a significant share of the revenue on the research & development. Prices of products as well as the manufacturing costs are predicted to decline owing to the maturity of products & technologies.

Barcode Printers Market size is anticipated to exceed USD 3 billion by 2024 with the industry growth pegged at a CAGR of over 5% from 2018 to 2024. Growing demand for barcode wristbands in the healthcare industry for patient identification will positively impact the barcode printers market growth. Several hospitals are mandating a policy which requires patients to wear a barcode identification bracelet during the duration of their stay which allow hospital staff to provide accurate and speedy data entry and are helping reduce medical errors, thereby allowing time to enhance efficiency instead of physically entering the data.

Barcode Printers Market, By Product
• Industrial
• Desktop
• Mobile
Barcode Printers Market, By Technology
• Thermal Transfer
• Direct Thermal
• Laser
• Impact
• Inkjet
Barcode Printers Market, By Resolution
• Below 300 dpi
• Between 301 & 600 dpi
• Above 601 dpi
Barcode Printers Market, By Connectivity
• Wired
• Wireless
Barcode Printers Market, By Application
• Manufacturing
• Retail
• Government
• Transportation & Logistics
• Entertainment & Hospitality
• Healthcare

Ongoing developments in trade globally will drive the barcode printers market growth, as the shipments imported or exported are coded and labelled with barcodes for storing and recording the data regarding the products and goods. The technology is being increasingly adopted in the retail sector where it has become the standard for storing and labeling the data about the products as the information allows the staff to provide smooth service to the customers. The growth in the retail industry is due to the rise in the consumer disposable income which has provided a boost to the e-commerce industry and has positively driven the barcode printers market growth.

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Asia Pacific will grow at a high growth owing to rise in investments from the government and growth in urbanization which has led to growing healthcare expenditure and enhancing the healthcare infrastructure. In addition, technological revolution, intensifying government legislations and rising focus on the patient safety, has augmented the usage of barcode printing technology which will boost the barcode printers market growth in the region.

Key players in the barcode printers market include Seiko Epson Corporation, Toshiba Tec Corporation, Zebra Technologies, TSC Auto ID Technology Co., Ltd, and Godex International Co. Ltd, Honeywell Scanning & Mobility, among others. The industry is competitive in nature and is witnessing rivalry, with players distinguishing their brand based on the product affordability and quality.

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Market share calculation in this report is not done based on companies covered in it. The calculation of Barcode Printers Market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.

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