Current Advancement in Barcode Printer Market | Opportunities & Challenges – Major Players are Avery Dennison Corporation, Canon, Inc., Honeywell, Printronix LLC, Seiko Epson Corporation, Japan, Toshiba, Zebra Technologies

In recent times, barcode printer market has been witnessing rapid expansion owing to the cutting-edge products being unveiled by prominent industry players and their consistent adoption of strategic growth tactics. Citing an instance of the latest product innovation, Printronix Auto ID Inc., one of the global leaders partaking in industrial barcode printer market, has launched a high-performance thermal barcode printer, the T6000. Equipped with advanced features such as an enhanced print speed of 14 inches per second, an interactive screen which lowers downtime, postscript and pdf support for complex labelling requirements, and improved RFID capabilities, this product is indeed revolutionary.

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In terms of applications, healthcare sector has emerged as one of the most lucrative avenues for the barcode printer market growth, owing to extensive deployment of these devices for tracking patient ID systems, specimen collection, and point-of-care medication with least medical errors. As per reliable reports from Institute of Medicine, medical errors claim as many as 98,000 American lives per year. Addressing the need to reduce medical errors, barcode printers, with an error rate of one in 36 trillion characters are penetrating deeper in the healthcare sector.

One of the major contributions in this regard has been the launch of Zebra® QLn220™ mobile printers by Zebra Technologies, a renowned barcode printer market player. Reportedly, by simply scanning the printed barcodes through these mobile printers on ID badges, medications, patient’s wristbands, blood bags, and food trays, the caregivers can ensure whether the specimens are associated with the right patients. It is prudent to mention that the use of barcodes for identification and verification in hospitals and other medical fraternities has not only reduced errors, but has also improved the overall process efficiency and cost effectiveness.

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Speaking of the regional expansion outlook, Europe barcode printer market is likely to garner appreciable return in the coming years. This growth can be primarily attributed to the rising deployment of these products to improve customer experience and visibility. The ability of these systems to enhance efficiency and lower costs incurred through errors in shipping, packing, and manual input enables companies to achieve high Return on Investment (ROI), thereby impelling the regional barcode printer market share.

This business fraternity is anticipated to witness intense competition among the major barcode printer market players such as Printonix Auto Id Inc., Epson America Inc., Toshiba Tec Corporation, Zebra Technologies, Honeywell Scanning and Mobility, Dascom, Printek, Seiko Epson Corporation and Godex International Co. Ltd., etc. In a bid to strengthen their positions across the vertical, companies have been highly vigilant as far as conducting robust collaborations and alliances is concerned, as enumerated by the partnership between the leading barcode printers’ producer, Epson America Inc. and the barcode labeling software manufacturer TEKLYNX International. The alliance features the seamless integration of TEKLYNX barcode label design software and Epson’s inkjet color label printer that would provide GHS-compliant chemical barcode labeling for all the sizes in the manufacturing industry.

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As the adoption of lucrative growth tactics among market participants surges in the years ahead, barcode printers industry trends are likely to undergo a major transformation. Having been pegged at a valuation of 3 million units in terms of shipments in 2017, barcode printer market has been forecast to register a CAGR of 5% over 2018-2024.

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