By 2032, Market For Barcode Printers Is Expected To Reach US$ 6.76 Billion: FMI

Over the forecast period of 2016 to 2026, the global Barcode Printers market is expected to grow at a CAGR of 7.4% in terms of sales, owing to factors affecting its end-use. Barcode printers are special printers that are used to produce barcodes and product labels. Barcode printers are distinct from typical printers in that they employ different consumables to create a barcode print image. These printers are built in such a way that they can produce clear, machine-readable barcode prints at quicker printing speeds and for a lower cost.

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A Barcode printer is defined as an electronic device designed specifically for the printing of barcodes. The working principle and build of a barcode printer are slightly different from computer printers as it uses ribbons and labels working in tandem to get a barcode printed. Barcode printers usually don't have programmable logic controllers, but rely on an external computer system.

Growth in the manufacturing sector is reviving after the 2008 economic crisis. Automation and streamlining of manufacturing processes are being adopted by a large number of manufacturing companies worldwide to reduce time and material wastage, thereby improving efficiency and output. Barcoding is one such technique that is increasingly being adopted. This process has reduced production time considerably in the manufacturing process, thereby driving demand for barcode printers.

Barcodes have become the de facto standard for product information storing and labeling. Retailers worldwide use barcodes for the hassle-free recording of supplies and commodities and their sales to customers. Barcodes imprinted on labels are stuck to the products and they record information about the product count, date of manufacture, date supplied to the retailer, selling price, etc.

When these products are scanned, the information is retrieved and monitored. This entire process, which is achieved within a matter of seconds, not only increases efficiency but also minimizes errors. This has helped retailers record their products and inventory on shop floors and warehouses.

However, the threat of RFID tags as substitutes to barcode labels and the low compatibility of barcode printers with different operating systems act as restraints in the global barcode printer market.

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Segmentation highlights

The market is categorically divided into six segments based on printer type, printing technology, consumables, application, distribution channel, and region. The printer type segment of the barcode printers market includes Desktop Barcode Printer, Industrial Barcode Printer, Mobile Barcode printers and Others.

On the basis of printing technology, the market has been divided into Thermal Transfer, Direct Thermal, Dot Matrix, Laser and Ink Jet. On the basis of distribution channels, the market is segmented as Direct-to-End User, Direct-to-OEM, Dealer/Distributor, and Systems Integrator. On the basis of application, the market has been divided into industrial/manufacturing, transportation/logistics, retail, healthcare, government, and commercial services.

The Industrial Barcode Printer segment holds the highest market share of 46.1% closely followed by the Desktop Barcode Printer in the Barcode Printers Market. The Industrial Barcode Printer segment is also expected to dominate in the forecast period with a CAGR of 8.3% due to a preference of sturdy and rugged barcode printers with higher productivity.
Thermal Transfer segment holds the highest market share amongst all with 62.8% and is expected to improve further in the forecast period owing to very less cost involved, while Dot Matrix, Laser, and Ink Jet printing technologies are least preferred technologies and are on the verge of being phased out.
Dealer/Distributor is the most preferred supply channel and is expected to dominate in the future due to higher distribution efficiency, low supply costs and faster delivery times.
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Regional projections

North America and Western Europe are the most promising regions for the market's growth owing to higher preference of barcoding technology in different applications, while the market in the Latin America region is on a slow and stagnant growth due to low adoption of barcoding technology. The growth of the Barcode Printers market in APEJ region may also grow at a slower pace due to saturation and slow down of the manufacturing sector in China.

The Industrial Barcode Printer Segment Holds the Highest Market Share in the Global Barcode Printers Market

Desktop Barcode Printer, Industrial Barcode Printer, Mobile Barcode Printer, and Others are the several types of barcode printers available. In the Barcode Printers Market, the Industrial Barcode Printer category has the biggest market share of 46.1 percent, followed by Desktop Barcode Printer.

Due to a desire for strong and tough barcode printers with higher productivity, the Industrial Barcode Printer segment is predicted to dominate in the forecast period with a CAGR of 8.3%.

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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10 years.

This release was published on openPR.