July 13, 2024
Barcode Printer Market

Barcode Scanner Technology Is Anticipated To Open Up New Avenues For Barcode Printer Market

Market Overview:
Barcode printers are electronic devices that are used to print barcode labels or tags. They are used for applications across industries like retail, transportation & logistics, healthcare, and manufacturing among others. Barcode printers are lightweight, fast, and offer durable printing. They print linear and 2D barcodes that helps in inventory management, product labeling, tracking shipments and assets. Common types of barcode printers include desktop printers, industrial printers, and mobile printers.

Market Dynamics:
Growing e-commerce industry is a major driver boosting the barcode printer market growth. Barcode printers help e-retailers in keeping a track of their inventory, shipments, and customer orders. They find extensive usage in identification, verification, and delivery of e-commerce products. Growing retail automation is another driver fueling demand for barcode printers. Retailers are widely adopting barcode technology to streamline their supply chain and inventory management processes. Barcode scanners and printers help retailers in maintaining stock visibility, reducing errors in sales and order picking. They are enabling faster checkout times. Technological advancements leading to development of mobile, industrial and wireless barcode printers catering to diverse business needs is also driving their adoption across industries.

The global Barcode Printer Market Demand is estimated to be valued at US$ 4557.39 Mn or in 2023 and is expected to exhibit a CAGR of 8.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Segment Analysis
The Barcode Printer market can be segmented by technology into Thermal transfer, Direct thermal, Laser, and Inkjet. Among these, the thermal transfer segment accounts for the largest share of over 50% of the global market owing to its ability to print barcodes on a wide range of surfaces and harsh operating conditions.

PEST Analysis
Political: Governments globally are promoting regulatory standards for barcode usage, which is increasing demand for advanced barcode printers conforming to specified standards.
Economic: The growing e-commerce industry is propelling barcode usage across industries for inventory management and shipping purposes, driving the barcode printer market’s growth.
Social: Rising consumer awareness about barcodes’ importance in retail supply chain visibility is increasing adoption of automated identification technologies like barcode printers.
Technological: Advancements in barcode printer technologies such as wireless connectivity and mobility solutions are improving printing efficiency and workplace productivity.

Key Takeaways
The global Barcode Printer market is expected to witness high growth, exhibiting CAGR of 8.1% over the forecast period of 2023 to 2030, due to increasing adoption of automated identification and tracking technologies across industries. The market size is estimated to reach US$ 7851.17 Mn by 2030 from US$ 4557.39 Mn in 2023.

Regional analysis: North America captures over 35% share of the barcode printer market, driven by high technology adoption in the US and Canada. Asia Pacific registers the fastest growth, led by China, owing to rising barcode usage and investments in e-commerce logistics infrastructure in the region.

Key players operating in the Barcode Printer market are Zebra Technologies Corporation, Honeywell International, Inc., Toshiba TEC Corporation, SATO Holdings Corporation, Avery Dennison Corporation, GoDEX International Co., Ltd., Printronix, Inc., TSC Auto Id Technology Co., Ltd., Printek, Inc., Oki Electric Industry Co., Ltd., and Stallion Systems And Solutions Pvt. Ltd. Zebra Technologies dominates the market owing to its wide product portfolio and global sales and distribution network.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it