The rising demand for mobile printers and the growing adoption of barcode printers in the manufacturing industry are anticipated to drive the growth of the global barcode printers market during the forecast period from 2023 to 2032. The North America region is predicted to hold the majority of market share by 2032.
PORTLAND, Ore., Aug. 18, 2023 /PRNewswire/ -- Allied Market Research has recently published a report, titled, "Barcode Printers Market By Product Type (Desktop Printer, Mobile Printer, and Industrial Printer), Printing Type (Thermal Transfer, Direct Thermal, and Others), and End-User Industry (Manufacturing, Retail, Transportation and Logistics, Healthcare, and Other): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global barcode printers market generated $3,758.6 million in 2022, and is anticipated to generate $13,510.6 million by 2032, witnessing a CAGR of 13.7% from 2023 to 2032.
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Prime Determinants of Growth
The rising demand for mobile printers, the growing demand for industrial printers across numerous industrial sectors, and the rising usage of barcode printers for streamlining logistics processes are the major factors predicted to drive the growth of the global barcode printers market in the forecast timeframe. However, the high costs associated with barcode printers and the strict regulations in the printing industry may hamper the barcode printers market growth in the coming period. On the contrary, the integration of advanced connectivity & wireless technologies and the growing usage of electronic shelf labels & smart label printers provides are expected to offer growth opportunities for expansion of the barcode printers market in the 2023-2032 forecast period.
Report Coverage and Details:
Restraints
Report Coverage | Details |
Forecast Period | 2023–2032 |
Base Year | 2022 |
Market Size in 2022 | $3,758.6 million |
Market Size in 2032 | $13,510.6 million |
CAGR | 13.7 % |
No. of Pages in Report | 309 |
Segments Covered | Product Type, Printer Type, End-User, and Region |
Drivers | Growing adoption of barcodes in manufacturing industry Rise in demand for wireless mobile printers |
Opportunities | Incorporation of computer systems with barcode printers |
Increasing focus of key market players on producing barcode printers with advanced features | |
Restraints | High initial investment cost |
COVID-19 Scenario:
- The outbreak of the COVID-19 pandemic has had a significant influence on the growth of the global barcode printers market. While the epidemic caused disruptions in the supply chain, it also accelerated the adoption of digitized and contactless solutions, creating novel avenues for growth in sectors like logistics, healthcare, and e-commerce.
- The barcode technology proved invaluable during the crisis in promoting a safer and more efficient manufacturing environment. Retail and e-commerce sector also actively accepted barcode printers to cater to the relentless rise of e-commerce sales in the wake of lockdowns.
- The barcode printers market is projected to show steady growth in the future as the demand for efficient supply chain management is increasing and people are shifting towards online shopping.
Industrial Printer Sub-segment to be Highly Dominant During the Forecast Period
The industrial printer sub-segment accounted for the major share of 48.5% in the barcode printers market in 2022 and is expected to continue to maintain its dominance during the forecast period. The dominant growth of the sub-segment is mainly because industrial printers are long-lasting and high-quality computer printers used to print barcodes onto tags, labels, packages, and others. Besides, the growing usage of industrial printers in various sectors, such as warehouses, retail stores, and manufacturing factories, as they are tough and dependable is driving the sub-segment's growth.
Thermal Transfer Sub-segment to Hold the Majority of Market Share by 2032
The thermal transfer sub-segment accounted for the highest market share of 40.7% in 2022 and is expected to witness significant growth during the forecast period. This is mainly owing to the adaptability, dependability, and capacity of thermal transfer printers to create highly legible barcodes in difficult conditions. In addition, these printers provide high-quality printing, are affordable, and majorly used in manufacturing, healthcare, and electronics sectors.
Manufacturing Sub-segment to Flourish Immensely During the Forecast Period
The manufacturing sub-segment accounted for the highest market share of 31.6% in 2022 and is predicted to continue to hold maximum share by 2032. The strong growth of the sub-segment can be attributed to the crucial role of barcode printers in the manufacturing industry in optimizing production processes, assuring accurate inventory management, and enhancing overall supply chain efficiency. Additionally, barcode printers are widely used in the manufacturing industry to create tags and labels that facilitate streamlined tracking as well as identification of equipment, materials, and products.
North America Market to Hold Majority of Market Share by 2032
The North America region accounted for the highest share of 40.0% in the global barcode printers market in 2022 and is expected to continue to maintain its dominance during the forecast period. This is mainly because North America has a well-developed infrastructure and heavily invests on R&D. The persistent growth of the retail & e-commerce industries, along with the rising preference of people for online shopping in the U.S. and Canada, are also anticipated to drive the demand for barcode printers across the region.
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Leading Players in the Barcode Printers Market:
- Dascom
- Zebra Technologies Corp.
- Printronix, Inc.
- Oki Electric Industry Co., Ltd.
- SATO Holdings Corporation
- Honeywell International Inc.
- Toshiba Tec Corporation
- Canon Inc.
- Avery Dennison Corporation.
The report provides a detailed analysis of the key players of the global barcode printers market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of barcode printers market players to showcase the competitive scenario.
Key Benefits For Stakeholders:
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the barcode printers market analysis from 2022 to 2032 to identify the prevailing barcode printers market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the barcode printers market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global barcode printers market trends, key players, market segments, application areas, and market growth strategies.
Barcode Printers Market Key Segments:
By Product Type:
- Desktop Printer
- Mobile Printer
- Industrial Printer
By Printing Type:
- Thermal Transfer
- Direct Thermal
- Others
By End-User Industry:
- Manufacturing
- Retail
- Transportation and Logistics
- Healthcare
- Other
By Region:
- North America (U.S., Canada, and Mexico)
- Europe (U.K., Germany, France, Italy, Spain, Russia, Netherlands, Belgium, Poland, and Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Malaysia, Thailand, Philippines, Indonesia, and Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East and Africa)
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