Growing E-Commerce and Healthcare Sector Drive Global Barcode Label Printer Market
New York, USA, May 30, 2023 (GLOBE NEWSWIRE) — According to the research report published by Market Research Future (MRFR), “Barcode Label Printer Market Information Product Type, By Technology, And By Region – Market Forecast Till 2032”, the Barcode Label Printer Market could thrive at a rate of 5.31% between 2023 and 2032. The market size will be reaching around USD 4.14190 billion by the end of the year 2032.
Leading barcode label printer market contenders include
- OKI Electric Industry Co., Ltd. (Japan)
- TSC Auto Id Technology Co Ltd (Taiwan)
- Avery Dennison Corporation (US)
- Dascom Holdings Ltd. (China)
- Printronix Auto Id Inc. (US)
- Sato Holdings Corporation (Japan)
- Apogee Industries Inc. (US)
- Canon Inc. (Japan)
- Honeywell International Inc. (US)
- Toshiba Tec Corporation (Japan)
- Zebra Technologies Corporation (US)
- Fujitsu Ltd. (Japan).
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Scope of the Report – Barcode Label Printer Market:
| Report Metrics | Details |
| Market Size by 2032 | USD 4.14190 billion |
| CAGR during 2023-2032 | 5.31% |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Key Market Opportunities | The adoption of electronic shelf labels. Favorable government policies and the increasing preference for consuming |
| Key Market Dynamics | Increasing use of mobile printers. Increased demand for packaged goods. |
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Market USP Covered:
Barcode labeling is a critical printing technology in an organizational/industrial environment to ensure products can be shipped efficiently and seamlessly. Barcode integration can lead to digital transformation in industrial setups. Integrating barcode labeling can also be useful in the supply chain to keep businesses running smoothly and efficiently.
Industrial manufacturers are increasingly implementing strategies and technology to centralize disparate systems and create efficient and streamlined operations. Industrial printers are designed to withstand harsh environmental conditions, with the capability of high-volume label printing and wider media widths compared to other printer types. Desktop printers are highly intuitive and flexible with USB and parallel & serial connectivity interfaces.
Industry Trends:
Increasing demand for accurate labeling with lesser human errors has escalated the demand for barcode label printers in the manufacturing sectors globally. Besides, increasing uses of mobile and wireless barcode printers, alongside the growing demand for packaged goods, drive the industrial barcode labels market and mobile barcode printer market.
Barcode label printer is the most preferred technology for high-quality and high-speed digital printing of variable data. This technology is used in many small, medium, and large-sized product manufacturing companies, which is expected to allow the barcode label printer market to witness increased demand worldwide.
Rapidly developing regions present untapped opportunities for barcode label printers in the healthcare and eCommerce sectors. The burgeoning eCommerce industries worldwide are projected to offer significant market growth opportunities, creating substantial barcode label printer market demand. Further, the adoption of electronic shelf labels and smart label printers is likely to provide the market with major growth opportunities.
On the other hand, price volatility and the demand-supply gap in key components restrain market growth. The barcode label printer industry faces significant challenges, such as fluctuating prices and shortages of key components required for production. With most component manufacturing facilities closed during COVID-19, there is a huge disruption in the industry’s supply chains.
Usually, components’ prices depend on their availability with manufacturers, government regulations, and global & local demand. As a result, key component prices fluctuate from time to time, causing an increase or decrease in the overall manufacturing cost of barcode label printers. Therefore, rising/high cost is a key factor restraining the growth of the barcode label printer market.
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Segments:
The barcode label printer market report is segmented based on types, wall construction, materials, applications, and regions. The product type segment is sub-segmented into industrial printers, desktop printers, portable printers, and others. Among these, the industrial segment accounts for the largest market share, whereas the desktop printer segment is growing at a higher CAGR.
The technology segment is sub-segmented into direct thermal, thermal transfer, inkjet, laser printing, dot matrix, and others. Among these, the direct thermal segment accounts for the largest market share, while laser printer is the fastest-growing segment. The resolution segment is sub-segmented into 300 dpi, between 301 to 600 dpi, and above 600 dpi. The end user segment is sub-segmented into manufacturing, transportation & logistics, retail, healthcare, government, and others. The region segment is bifurcated into the Asia-Pacific, Americas, MEA, Europe, and rest-of-the-world.
Regional Analysis:
During the review period, Europe will likely remain a highly attractive market for barcode label printers. Factors such as the rising eCommerce venture and increase in the online shopping sector escalate the barcode label printer market share of the region. Germany and the UK are major revenue generators in the regional market, becoming the most attractive markets for printer manufacturers. The European barcode label printer market is estimated to grow further at a 5.35% CAGR during the forecast period.
Asia Pacific region accounts for the second-largest share in the global barcode label printer market. In 2018, the region gained a market valuation of USD 727.2 million, which is projected to grow further at a 6.90% CAGR during the assessment period. This region has a tremendous opportunity for barcode label printers due to the rising demand from the booming eCommerce, healthcare, pharmaceutical, and packaged food & beverage industries.
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Competitive Analysis
The market appears extremely competitive due to the strong presence of well-established Barcode Label Printer market players. They seek opportunities to integrate across the extensive value chain while focusing on R&D investments, production facility expansion, and M&A activities to gain impetus. New players enter the market with aggressive pricing to undercut the established providers and gain footholds in international markets.
For instance, on Jan 13, 2023, Citizen Systems America Corporation, a leading global printing technology manufacturer, launched its latest desktop barcode printer lineup, CL-H300SV, at NRF 2023 in New York City. Launched at NRF 2023, the CL-H300SV barcode label printers are anti-microbial and disinfectant-ready.
The new product line will provide outstanding value and safer & more reliable printing options in key vertical market segments that require printing technology. The ability to disinfect the plastics also provides a barrier against the transmission of germs, adding a protection layer for employees and customers in restaurants, hospitality, healthcare markets, and more.
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