Barcode Printers Market Current Scenario and Industry Growth Forecast with Major Key Players data by 2032
According to a recent market report published by Future Market Insights titled, "Barcode Printers Market: Global Industry Analysis & Opportunity Assessment, 2016-2026," revenue generated from sales of barcode printers globally is estimated to be valued at US$ 2,758.0 Mn and pegged at 3,086.8 '000 units by 2016 end. It is expected to increase at a CAGR of 7.4% over the forecast period (2016-2026), to be valued at US$ 5,656.1 Mn by 2026 end. In terms of volume, the global barcode printers market is projected to be pegged at 5,384.3 '000 units by 2026 end, expanding at a CAGR of 5.7% over the forecast period.
Barcode printer is defined as an electronic device designed
specifically for printing of barcodes. The working principle and built of a
barcode printer is slightly different from computer printers as it uses ribbons
and labels working in tandem to get a barcode printed. Barcode printers usually
don't have programmable logic controllers on their own, but rely on an external
computer system.
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Growth in the manufacturing sector is reviving after the
2008 economic crisis. Automation and streamlining of manufacturing processes
are being adopted by a large number of manufacturing companies worldwide to
reduce time and material wastage, thereby improving efficiency and output.
Barcoding is one such technique that is increasingly being adopted. This
process has reduced production time considerably in the manufacturing process,
thereby driving demand for barcode printers.
Barcodes have become the de facto standard for product information
storing and labelling. Retailers worldwide use barcodes for hassle-free
recording of supplies and commodities and their sale to customers. Barcodes
imprinted on labels are stuck to the products and they record information about
the product count, date of manufacture, date supplied to the retailer, selling
price, etc. When these products are scanned, the information is retrieved and
monitored. This entire process, which is achieved within a matter of seconds,
not only increases efficiency but also minimizes errors. This has helped
retailers record their products and inventory on shop floors and warehouses.
However, threat of RFID tags as substitutes to barcode
labels and low compatibility of barcode printers with different operating
systems act as restraints in the global barcode printers market.
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Segmentation highlights
The market is categorically divided into six segments based
on printer type, printing technology, consumables, application, distribution
channel, and region. The printer type segment of the barcode printers market
includes Desktop Barcode Printer, Industrial Barcode Printer, Mobile Barcode
Printer and Others. On the basis of printing technology, the market has been
divided into Thermal Transfer, Direct Thermal, Dot Matrix, Laser and Ink Jet.
On the basis of Distribution Channel, the market is segmented as Direct-to-End
User, Direct-to-OEM, Dealer/Distributor and Systems Integrator. On the basis of
application, the market has been divided into industrial/manufacturing,
transportation/logistics, retail, healthcare, government and commercial services.
- The
Industrial Barcode Printer segment holds the highest market share of 46.1%
closely followed by Desktop Barcode Printer in the Barcode Printers
Market. The Industrial Barcode Printer segment is also expected to
dominate in the forecast period with a CAGR of 8.3% due to a preference of
sturdy and rugged barcode printers with higher productivity.
- Thermal
Transfer segment holds the highest market share amongst all with 62.8% and
is expected to improve further in the forecast period owing to very less cost
involved, while Dot Matrix, Laser and Ink Jet printing technologies are
least preferred technologies and are on the verge of being phased out.
- Dealer/Distributor
is the most preferred supply channel and is expected to dominate in the
future due to higher distribution efficiency, low supply costs and faster
delivery times.
Regional projections
North America and Western Europe are the most
promising regions for the growth of the market owing to higher preference of
barcoding technology in different applications, while the market in the Latin
America region is on a slow and stagnant growth due to low adoption of
barcoding technology. The growth of the Barcode Printers market in APEJ region
may also grow at a slower pace due to saturation and slow down of manufacturing
sector in China.
Vendor insights
Major players identified in the Barcode Printers market are
Zebra Technologies Corporation, Avery Dennison Corporation, Oki Electric
Industry Co., Ltd., Toshiba TEC Corporation, and Honeywell International, Inc.
committing a combined market share of over 50%. Other major players are SATO
Holdings Corporation, Printronix, Inc. and TSC Auto Id Technology Co., Ltd.
supplying to various end use industries and sectors.
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