Barcode Printers Market size with 8.6% CAGR expectations over the forecast period to reach USD 4.5 billion by 2022

Global Barcode Printers Market size is expected to reach USD 4.51 billion by 2022; as per a new research report by Global Market Insights, Inc.

Thermal technology will continue dominating revenue prospects in the coming years. Direct thermal barcode printers market share is set to grow with 9.7% CAGR estimations from 2015 to 2022. Lower number of moving parts, high speed, and more durable images are forecast to positively impact demand across the sector. Thermal transfer barcode printers market size is poised to exceed USD 1.7 billion by 2022, making it the largest technology segment in the industry.

Growing need for tracking in the healthcare sector is projected to be a key growth driver. Major benefits include access to reliable and accurate patient information along with other activities such as specimen collection, surgical procedure, point-of-care medication administration, etc. Barcode printers market share in these applications is estimated to witness growth and surpass USD 800 million by 2022. Other use cases include personal identification such as barcode wristbands that help in authentication for sporting events among other activities.

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Product and shelf labeling, POS terminals market growth and mobile checkout options will drive the retail sector at 10.2% CAGR from 2015 to 2022. Portable devices have been gaining traction across organizations for helping issue invoices and conduct business more efficiently, regardless of the location.

Rising popularity of RFID technology, since it does not require line-of-sight and contains a memory module, will pose a strong threat of substitution. The implanted circuitry also facilitates additional functionality such as pressure, humidity, and temperature monitoring. Asset tracking helps companies identify and control inventory levels and has witnessed growing adoption, which will further propel RFID demand.

Browse key industry insights spread across 119 pages with 44 market data tables & 37 figures & charts from the report, “Barcode Printers Market Size By Technology (Laser, Ink-Jet, Impact, Direct Thermal, Thermal Transfer), By Product (Desktop, Mobile, Tabletop/Industrial), By Application (Retail, Manufacturing, Shipping, Government, Healthcare), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2015 – 2022” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/barcode-printers-market-size

Key insights from the report include:

• Industrial barcode printers market size will continue leading revenue, with revenue expected to exceed USD 2.8 billion by 2022.

• Laser, impact, and inkjet technologies are forecast to grow slower than the global average in the coming years. This can mainly be attributed to considerable growth prospects across thermal products, which are characterized by the capability to perform in mission critical applications, accompanied by superior image durability. Increasing demand from short-shelf life applications such as receipts as well as shipping labels will also spur growth.

• Manufacturing applications represent a sizable application area, and accounted for more than 35% of the barcode printers market share in 2014. These products are widely used to label cartons or retail items with European Article Numbers (EANs) or Universal Product Codes (UPCs) before shipment.

• Asia Pacific barcode printers market size will grow at the fastest rate from 2015 to 2022, mainly on account of growing demand across end-use areas.

• Major players are Zebra Corporation, Canon Inc., HP, and Honeywell. Growing number of mergers and acquisitions will lead to consolidation over the long term.

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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This release was published on openPR.