CAGR: 7.5%Current Market Size: USD 4188.60 MillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2023-2030Base Year: 2022
The global Barcode Printer market is expected to grow from USD 4188.60 million in 2022 to USD 7470.2 million by 2030, at a CAGR of 7.5% during the Projection period 2023-2030. The Barcode Printer Market is anticipated to be driven by the growing use of bar-coded products in hospitals and other places for personal identification, as well as an increase in demand for online retailers like Amazon and Flipkart.
The tool used to accomplish the task of printing labels and tags on the items is the barcode printer. The printer employs both thermal and thermal transfer printing techniques. These printers work more quickly than traditional models and extend their useful lives by being cost-effective, dependable, highly durable, and producing prints with clarity. The commercial, retail, manufacturing, and other industries all make substantial use of barcode printers. They are frequently utilised to label retail items with the Universal Product Code or International Article Number or to label containers before shipping. No competitive business can function without a standard piece of office equipment like the barcode printer. Over the course of the Projection period, organised retail is anticipated to employ barcode printers more frequently for labelling and point-of-sale applications. Barcode wristband demand growth is anticipated to be positively impacted. The need for mobile printers that can wirelessly connect to the organization's network and print receipts immediately has also increased as a result of the trend of mobile sales personnel conducting on-the-go transactions. Industry expansion is anticipated to be hampered by the growing use of radio frequency identification (RFID), which has various advantages over barcodes. Due of Asian businesses' significantly cheaper pricing, the barcode printers market has become commoditized.
Sample Request: - Global Barcode Printer Market
Market Dynamics:
Drivers:
In order to decrease waste and increase output efficiency, many manufacturers all around the world are automating and streamlining their production processes. As a result, the use of barcodes has substantially expanded because each product or component in the assembly has a unique barcode that is regularly signed and recorded at each workstation. This therefore offers data on the development of the product. The need for barcode printers has increased as a result of the significant reduction in manufacturing production time. For instance, the rapid response (QR) code, a particular matrix barcode or 2D code, is utilised by a number of automobile manufacturing businesses, such as Hyundai, Ford, Volkswagen, Bajaj Auto, etc. It may be read by smartphones with cameras or QR barcode readers.
Barcodes have made it easier for consumers to use a variety of products and commodities. Information about products is now stored and labelled in a common format. The product's manufacturing date, the date it was delivered to the retailer, the number of units, the selling price, etc. can all be stored on a barcode label that is attached to the product. The data is retrieved and shown on the monitor when the products are scanned. Since the entire procedure just takes a few seconds, efficiency is increased and errors are decreased. Retailers can then use this to keep track of their inventory and items. Barcodes are used on all products sold by major stores throughout the world, including Walmart, IKEA, Costco, Carrefour, etc. Thus, rising need for precision and speed is boosting market expansion.
Restraints:
Barcodes can be used to obtain important data, but new information cannot be introduced to them. Although it has more functionality, radio frequency identification (RFID) tags are identical to barcodes in certain ways. For instance, a radio scanner that does not require a direct line of sight, like barcode scanners do, can only read data from RFID tags when they are present within the scanning radius. This technique has many benefits, especially in places like theme parks and hospitals where using RFID tags on wristbands speeds up the process of tagging each person in question. RFID tags also have a wide range of uses in logistical warehouses and production facilities, where every item is scanned.
Opportunities:
Information cannot be processed or stored by barcode printers. All of the data associated with each barcode is saved on a separate computer system where barcodes are created. Barcode printers can also be wirelessly or by cable connected to a computer. The market's leading manufacturers concentrate on creating barcode printers that can also serve as computers. Due to this, standalone systems can be used to manage and store barcodes and product databases, scan necessary barcodes for quality checks, and print barcodes similarly to barcode printers, eliminating the need for separate systems. It can be more advantageous for industrial applications and lowers the cost of maintaining a separate barcode printer.
IT assets and fixed assets are present in every kind of business, from small startups to large global corporations. Employees are given computers, laptops, office supplies, and other items. If barcoding is used by the company, the management of these entities can be sophisticated. As a result, the efficiency at the time of the audit would rise. Large-scale enterprises frequently use this approach, whereas small-scale businesses do not. In turn, this is anticipated to present market participants with profitable growth potential in the near future.
Challenges:
The fact that barcode printers are only designed to work with a select few user interface programmes, including Linux and Windows, is one of their main limitations. However, the variety of operating systems has grown recently as a result of the fact that computer terminals used in various industries utilise various operating systems based on their specific requirements. In consequence, this is anticipated to challenge the expansion of the global barcode printer market in the Projection period.
Segmentation Analysis:
The global Barcode Printer market has been segmented based on product type, technology, end-user, and region.
By Product Type
The product type segment is Mobile, Industrial, and Desktop. The mobile segment led the largest share of the Barcode Printer market with a market share of around 42.1% in 2022. Mobile printers are used in the printing of barcodes, tickets, receipts, labels, and tags in the hospitality, retail, and healthcare industries. A few characteristics of this printer include its ease of use and USB, Bluetooth, and wireless LAN connectivity with mobile devices (WLAN). Mobile is the most convenient gadget which is easy to use and carry at all places. This makes the mobile barcode printers easy to use and most convenies for printing barcodes instantly at any location.
By Technology
The technology segment is an Thermal Transfer, Laser, Ink-Jet, Impact, and Direct Thermal. The thermal transfer segment led the largest share of the Barcode Printer market with a market share of around 25.6% in 2022. High-quality, long-lasting labels and tags in a variety of colours are available because of the thermal transfer technology used in barcode printers. For printing books, magazines, brochures, cards, posters, and other materials, thermal transfer printers are in demand in sectors including education and entertainment. A thermal printhead is used in thermal printing to heat the designated surface. With the use of a heated ribbon and printing materials, thermal transfer printing transfers images onto them. Due to improved image durability and its capacity for mission-critical applications, this technique is predicted to dominate the market. Without the use of a ribbon, direct thermal printing produces an image directly on the printing medium, making it ideal for applications with a limited shelf life, like shipping labels and receipts.
By End-User
The end-user segment is Shipping, Retail, Manufacturing, Healthcare, and Others. The retail segment led the largest share of the Barcode Printer market with a market share of around 36.3% in 2022. Barcode printers are used in retail applications such point-of-sale, price-tag printing, product labelling, and shelf labelling. Items are barcoded before shipping to ensure that the recipient can verify the order number and part number.
Global Barcode Printer Market - Sales Analysis.
The sale of the Barcode Printer market expanded at a CAGR of 4% from 2016 to 2022.
Due to its growing use across a variety of industrial verticals, barcode printer sales have rapidly increased in recent years. The barcode printers are employed for both individual identification and a variety of events. It is projected that the widespread use of e-commerce sites like Amazon and Flipkart, along with the abolition of human error, will increase demand for thermal barcode printers.
Their more sophisticated design compared to traditional printers allows for higher printing rates at less expensive prices. Additionally, this gives the manufacturers an advantage in the worldwide barcode printers market competition. The market share for barcode printers is therefore expected to increase significantly in value over the course of the Projection period.
The forum's widespread use in the manufacturing sector, transportation, healthcare, government, retail, and commercial services is responsible for its steady pace. It has been noted that manufacturers all over the world are implementing automation techniques and optimising their manufacturing processes in an effort to decrease waste and improve output efficiency.
These factors, together with widespread uses like labelling boxes before shipping and labelling retail goods with special product codes or international article numbers, are greatly boosting the popularity of barcodes. Because of the growing demands from the commercial sectors, it is anticipated that the market for retail barcode printers would continue to grow.
Thus, owing to the aforementioned factors, the global Barcode Printer market is expected to grow at a CAGR of 7.5% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the Barcode Printer market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North American region dominated the Barcode Printer market and held a 38.4% share of the market revenue in 2022.
Global Barcode Printer Market - Country Analysis:
Germany's barcode printer market size was valued at USD 261.7 million in 2022 and is expected to reach USD 473.7 million by 2030, at a CAGR of 7.6% from 2023 to 2030. Due to the increasing number of e-commerce platforms and the presence of major businesses in the region. Furthermore, the increasing in manufacturing sector and retail sector also adds impetus to the market’s growth. The market is expanding in Germany as a result of the expanding use of barcode and RFID printers in sectors like retail, healthcare, inventory control, textiles, and logistics.
China’s barcode printer market size was valued at USD 326.7 million in 2022 and is expected to reach USD 600.23 million by 2030, at a CAGR of 7.9% from 2023 to 2030. Because of the large expenditures in the development of barcode printer technology in the region. Furthermore, vendors have tremendous chances to make investments in the local market thanks to the expanding end-use sectors. In the upcoming years, favourable regulatory frameworks and technology improvements are also anticipated to favourably affect the nation's barcode printers market.
India's barcode printer market size was valued at USD 251.3 million in 2022 and is expected to reach USD 458.29 million by 2030, at a CAGR of 7.8% from 2023 to 2030. Due to the widespread use of barcode scanners and printers in the industrial, retail, and other industries as well as transportation and logistics, the market for barcode printers in India has been expanding. Additionally, it is anticipated that during the Projection period, demand for barcode scanners and printers in India will increase due to the government providing financial assistance to micro and small businesses for the adoption of barcodes, enabling these businesses to improve their marketing competitiveness.
Key Industry Players Analysis:
To increase their market position in the global Barcode Printer market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
7.5% |
Market Size |
4188.60 million in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Product, By Technology, By End-User, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Zebra Technologies Corporation, Honeywell International Inc., Toshiba Tec Corp, 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. |
By Product |
|
By Technology |
|
By End-User |
|
Regional scope |
|
Scope of the Report
Global Barcode Printer Market By Product:
Global Barcode Printer Market By Technology:
Global Barcode Printer Market By End-User:
Global Barcode Printer Market By Region:
Global Barcode Printer market is expected to reach USD 7470.2 million by 2030.
Leading market players active in the global Barcode Printer market are Zebra Technologies Corporation, Honeywell International Inc., Toshiba Tec Corp, 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. among other
The Barcode Printer market is projected to have a CAGR of 7.5%.
Based on the technology, the global Barcode Printer market has been segmented into thermal transfer, laser, ink-Jet, impact, and direct Thermal.
The segments covered in the Barcode Printer market are; product, technology, end-user, and regions.
Political Factors- The foundation of the current form of governance, which supports the activities of the market for barcode printers market items, is democracy. The market for barcode printers market can benefit from the financial freedom offered by a democratic political system, which supports initiative and free trade. Pressure organisations can influence the corporate climate by securing strong allies in the media. These groups put pressure on the organisations by launching marketing campaigns and protests. The market for barcode printers market products needs to keep a watch on these pressure organisations since they have the ability to affect government policy, which could ultimately have an effect on the whole business environment. The market for barcode printers market products should collaborate closely with these organisations in order to earn their trust.
Economic Factors- Strong positive correlation between financial market efficiency and overall economic growth allows for capital accumulation and the production of goods and services. The barcode printers market must choose countries with extremely effective financial markets so that it can quickly assemble financial and human capital. The efficiency of the financial market can help the market for barcode printers stay one step ahead of the competition. The market for barcode printers market products should take into account the rates of economic growth of the various countries when considering whether to expand abroad. In nations with high rates of economic growth, there are more opportunities to pursue long-term growth objectives.
Social Factors- High population growth and an increasing share of the young population group are two beneficial demographic indicators when the barcode printers market predominantly targets young consumers with its products/services. The market for barcode printers marketshould investigate the host country's viewpoint on immigration since a welcoming attitude toward immigrants from different cultural backgrounds is a signal that diversity management techniques should be put into place. The market for barcode printers market products needs to change its marketing strategies in order to encourage diversity and inclusion. An upbeat view of migration also demonstrates that the industry for barcode printers can easily hire people from different cultural backgrounds. Workplace diversity is usually linked to higher productivity, better innovation, and superior overall firm success.
Technological Factors- The research and development trend in the chosen sector or area demonstrates how forward-thinking organisations are in bringing cutting-edge technologies to market. The market for barcode printers market products needs to better understand how new technical developments can benefit the business and provide benefits to clients. It would be necessary to make a sizable investment in research and development activities in markets defined by disruptive technology. However, it is essential for the market for barcode printers market goods to have a long-term view and avoid expecting a quick return on its R&D efforts.
Environmental Factors- In some countries, the adoption of the closed-loop, circular economy concept is becoming the norm in a variety of locations and industries. Industries that benefit from supportive institutional frameworks can make recycling and reuse of materials easier. Similar to this, recycling is a popular activity in many countries. The market for barcode printers market goods could benefit from these sustainability trends and use them as a tool to both achieve financial objectives by reducing production costs and reduce environmental expenses.
Legal Factors- In many countries, there are numerous federal and state laws in place to protect consumers from potential economic exploitation. In the era of information technology, laws have become considerably stricter to safeguard consumer privacy. barcode printers market supplies In order to avoid lawsuits, companies must rigorously adhere to the data privacy regulations when doing online transactions. barcode printers marketsupplies Before entering new markets, market management must examine regional laws governing returns, discounts, credit terms, quality, misleading advertising, and maximum pricing (particularly in the case of basic essential goods).
List of Table
List of Figures