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Barcode Label Printer Market Report 2024 - Market Share Analysis And Trends
Barcode Label Printer Global Market Report 2024
According to The Business Research Company's, The barcode label printer market size has grown strongly in recent years. It will grow from $12.36 billion in 2023 to $13.38 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to automation in supply chain, regulatory compliance requirements, e-commerce and retail boom, globalization of supply chains, cost-effective labeling solutions.
The barcode label printer market size is expected to see strong growth in the next few years. It will grow to $17.75 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to rise of smart factories and industry 4.0, growing demand for rfid integration, expansion of e-commerce and online retail, sustainability and eco-friendly labeling, integration with enterprise resource planning (erp) systems. Major trends in the forecast period include integration of rfid technology, rise of cloud-based printing solutions, mobile printing solutions, focus on energy efficiency and sustainability, advancements in printing speed and precision.
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Market Drivers and Trends:
The rising number of thefts and frauds is expected to propel the growth of the barcode label printer market. Thefts and frauds are illicit activities in which someone else's property, money, or assets are illegally stolen or misled, the physical act of stealing anything without permission or legal right is referred to as theft, whereas fraud involves purposeful deception or misrepresentation for personal or financial advantage. Barcode label printers can help organizations reduce the risk of theft and fraud by improving inventory management, tracking and authentication, and access control. For instance, in 2023, according to the National Council on Identity Theft Protection 2023 Highlights, a US-based intergovernmental organization, the Federal Trade Commission (FTC) received 5.7 million fraud and identity theft reports in total, with identity theft accounting for 1.4 million of those. Additionally, total losses due to fraud are $10.2 billion. Therefore, the rising number of thefts and frauds is driving the growth of the barcode label printer market.
Product innovations are a key trend gaining popularity in the barcode label printer market. Companies operating in the barcode label printer market are adopting new technologies to sustain their position in the market. For instance, in June 2022, TSC Auto ID Technology Co. Ltd. a Taiwan-based company specializing in the design and manufacturing of thermal label printers launched a new Alpha-30R 3-inch performance mobile barcode label printer. It is appropriate for routine receipt printing applications because to its robust design, big media capacity, and IP54 rating (without a protective casing). There are two varieties of the printer: basic and premium. The premium model has more functionality and supports a wider range of media types. Print speeds of up to 5 ips are supported by the basic model for receipt and label media, and up to 6 ips for a variety of receipt and label media when using the premium model. The printer can be used both indoors and outdoors because it is rated IP54 for protection against dust and water and meets MIL-STD-810 military specifications for drops and vehicle vibrations. Its easy-to-read LCD display, lightweight design, and portability make it possible to print labels and receipts while on the go.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Avery Dennison Corporation; Barcodes Inc.; Honeywell International Inc.; Postek Electronics Co. Ltd.; Printronix; Fujitsu Limited; Zebra Technologies Corporation; TSC Auto ID Technology Co. Ltd.; Toshiba Corporation; Dascom; OKI Electric Industry Co. Ltd.; SATO Holdings Corporation; Seiko Epson Corporation; Brother International Corporation; Canon Inc.; Tourmaline Enterprises Inc.; Wasp Barcode Technologies; Citizen Systems Co. Ltd.; Datalogic S.p.A.; Godex International Co. Ltd.; Intermec Technologies Corporation; Primera Technology Inc.; Tharo Systems Inc.; Xprinter Technology Co. Ltd.; Datamax-O'Neil Corporation; Star Micronics Co. Ltd.; General Data Company Inc.; Hitachi Industrial Equipment Systems Co. Ltd.; JADAK a Novanta Company; Kroy LLC; Lexmark International Inc.
Barcode Label Printer Market 2024 Key Insights:
• The barcode label printer market will grow to $17.75 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%.
• Mitigating Risks Through Barcode Label Printers Is A Catalyst For Growth In The Face Of Escalating Thefts And Frauds
• Advancing The Barcode Label Printer Market As Tsc Auto Id Technology Co. Introduces Alpha-30R Robust And Versatile Mobile Printer With Enhanced Features
• Asia-Pacific was the largest region in the barcode label printer market in 2023
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