Why Barcode Printers Market are Booming So Rapidly? Industry in-Depth Analysis with Growing Trends || Airtrack, Avery Dennison Corporation, Bixolon Co. Ltd., Brother Industries Ltd., Canon, Inc., Citizen Systems Europe GmbH, Cognitive TPG LLC, Dascom (Hol

Increasing product utilization across the retail sector along with proliferating national and international trades will drive barcode printers market outlook. Gradual increase in trade activities has been supporting the rising number of import and export shipments which are needed to be encoded into the shipment tracking system. Using the bar code technology eases trade operations among the shipping service providers by allowing to easily detect, encode, and track the shipment items throughout the transit roadmap.

According to a new research report by Global Market Insights, Inc, Barcode Printers Market size is projected to hit USD 3.5 billion by 2024.

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The retail sector is a major application avenue for barcode technology, as it is largely utilized for labeling and storing the product data, enabling to maintain the inventory and provide smoother services to the customers. Rising disposable incomes are further anticipated to boost to the e-commerce sector, thereby propelling the barcode printers market growth. The global retail industry is bound to witness significant gains pertaining to the rise in the per capita income coupled with increased spending power of the consumers, which will subsequently favor product penetration over the coming years.

The implementation of barcodes in the healthcare facilities enhances the medical services by improving the identification of patients. Several hospitals are authorizing a policy by which the hospitalized patients are mandatorily tied up with barcode wristbands during their stay in the medical care facility. This allows the hospital staff to record and invoke accurate and details about the patient whenever necessary, helping to reduce the medical errors allowing speedy recovery and reduced hospital stay.

The application of bar code improves the operational efficiency as compared to the physical data entry. Exponential growth of the healthcare industry will necessitate the incorporation of digitalized patient record systems which would eventually encourage product consumption over the upcoming years.

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Mobile barcode printers market will substantially grow over the forecast timeline owing to their portable nature and ease of usage across several industry verticals, especially the field based applications such as warehousing. They are extensively used by the retail businesses to issue on-the-go receipts and barcodes irrespective of the place and time constraint whether indoor or outdoor. Moreover, these printers can instantly generate barcodes for the visiting patients in hospitals and clinics.

Increasing product deployment for quick enrollment of patients in large healthcare facilities along with rising popularity across retail & warehousing applications will augment the mobile barcode printers market share. Mobile barcode printers market is anticipated to hit a growth rate of over 9% CAGR over the forecast timeframe.

Thermal transfer technology segment dominated the overall barcode printers market by accounting for a majority stake of over 65% in 2017. The substantial growth is attributed to several advantages offered by the product including low noise, high speed printing, high reliability, and ease of cleaning and maintaining.

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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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