Barcode Printers Market by Top Key Industry Players: Seiko Epson Corporation, Toshiba Tec Corporation, Zebra Technologies, TSC Auto ID Technology Co., Ltd, and Godex International Co. Ltd, Honeywell Scanning & Mobility

Thermal based printers constituted of more than 65% of the overall barcode printers market share owing to the features such as low noise, high speed, reliability, and ease of cleaning. The direct thermal technology will witness significant growth over the coming years due to low operational costs, and improved durability. Direct thermal printers are ideal for applications such as printing receipts and shipping labels and can develop barcode images on the material without a ribbon, making it eco-friendlier.

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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.

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.

Mobile printers are anticipated to witness high growth over the forecast timespan owing to their ease of usage in several field-based applications. Mobile barcode printers are being used increasingly by retail businesses to issue authentic receipts and invoices regardless of the place and time. Moreover, the mobile printers are being to print barcodes for identification of individuals in major events and for patients in hospitals which has augmented the revenue for the barcode printers market.

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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.

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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.

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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