Label Printer Market worth US$ 7,494.4 Mn by 2027- Exclusive Research by The Insight Partners

Label Printer Market Forecast to 2027 - COVID-19 Impact and Global Analysis - by Type (Industrial, Desktop, and Mobile), Technology (Thermal Transfer, Direct Thermal, and Non-Thermal), End-User Industry (Manufacturing, Retail, Transportation & Logistics, Healthcare, FMCG, Entertainment, and Others)

The rise in digitalization is one of the significant factors supporting the innovative customer-centric business framework. Nowadays, creativity plays an essential role to gather customers' attention; thus, digital label printing infrastructure offers market players considerably broad opportunities. The factors such as increasing application of automatic identification and data capture (AIDC) technology for enhanced productivity, growing concerns related to product safety and anti-counterfeiting, and rising use of thermal printing technology for printing applications are positively impacting the label printer market.

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The pharmaceutical manufacturers and medical device developers operate in a critical sector, as there is no margin for error. These companies must adhere to various regulations for serialization set by the governments and authorities in the healthcare sector. Over the past few years, the pharmaceutical and medical device industries have experienced a significant rise in counterfeit products and duplicate product serial numbers and has caused serious damage to manufacturers' businesses. Owing to this issue, the manufacturers in these industries are heavily emphasizing on procuring advanced label printing to prove the authentication of the product. Therefore, the increasing demand for label printers from pharmaceuticals and medical device companies bolsters the growth of the label printer market across the world.

At present, Toshiba Tec Corporation, Honeywell International Inc., Zebra Technologies Corp., Sato Holdings Corporation, and Seiko Epson Corporation are among the major label printer manufacturers. By manufacturing printers and integrating the same with RFID or barcode technologies, the label printer manufacturers sell these products to various end users, such as FMCG product manufacturers, healthcare product manufacturers, logistics service providers, and retail stores. Growing number of these end users leads to increasing demand for printers, pressurizing the printer manufacturers to enhance respective production lines and deliver the demanded quantity year-on-year. This surge in demand is likely to boost the growth of the label printer market. On the contrary, longer lifespan and higher maintenance cost of label printers may hinder the development of the label printer market.

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Note - The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on 'Label Printer Market' provides the analysis on impact on Covid-19 on business segments and country markets. The reports also showcase market trends and forecast to 2027, factoring the impact of Covid -19 Situation.

The US is a significant market for label printers, especially in the manufacturing, retail, and transportation & logistics sectors. The exponential rise in the number of COVID-19 cases and increase in the number of reported deaths in the country affect the manufacturing and retail sectors. North America is home to a large number of manufacturing and technology companies. The factory and business shutdowns across the US, Canada, and Mexico impact the adoption of label printers. Thus, the COVID-19 pandemic's impact has been quite severe in 2020 and is likely to continue in 2021.

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