Unveiling Dynamics: 2033 Outlook for Barcode Printers and Consumables Market – Trends, Players, and Growth Prospects
In 2023, the market for barcode printers and Consumables Market is projected to be worth US$4,586.4 million. Sales are anticipated to grow at a respectable CAGR of 6.2%, reaching a value of US$ 7,881.1 million by 2033. Growth is brought on by the manufacturing industry’s growing use of barcodes, which will increase demand for barcode printers and supplies in the future years.
According to the market research report from FMI, the production
sector’s increased acceptance of barcodes and inventive ideas that drive
companies to create industry-specific barcodes are the causes of the changing
market dynamics.
Customer-centric production is further advanced with the
advent of customization, AI-based analysis, and innovative content suggestions,
fueling the sales of barcode printers and consumables. This strategy is adopted
by the major players in the market. Modern-age data collection technologies
such as barcode scanners and fruitful marketing techniques involving
consumables are pushing the producers to adopt barcodes, which eventually
expands barcode printers and consumables market size.
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The advent of wireless barcode printers and consumables in
its industrial application as well as its usage in desktops creates lucrative
opportunities for the barcode printers and consumables market.
However, the memory system and programmable logic controllers
create failed attempts to decline the sales of barcode printers and
consumables.
Key Takeaways from Market Study:
- United
States holds 30.3% of global barcode printers and consumables market and
is anticipated to hold its position with a CAGR of 9.0% during
the forecast period. The growth is attributed to a higher number of retail
stores and spreading digitization.
- China
holds 8.3% of global barcode printers and consumables market and is likely
to hold its position with a CAGR of 6.0% during the forecast period. The
growth is owed to the demand for higher efficiency, automation, and
increased manufacturing units.
- Another
Asian market, Japan thrives at a CAGR of 7.0 in the global barcode
printers and consumables market, attributing its growth to the higher
demand from pharmaceuticals and logistics industries.
- Direct
thermal printers are the most successful based on the printing technology
due to the lower impact on the environment due to the elimination of
poly-based binding materials.
- The
healthcare industry is the biggest application segment in the barcode
printers and consumables market.
“The future for barcode printers and
consumables looks promising as digitization penetrates the market. Lately,
brands deal with user interface issues to fix the issues related to
it. The use of barcode tags in logistics and supply chain management
ensures efficient inventory management, effective movement of shipments within
logistics networks, and effective monitoring of manufacturing and assembly
processes. This transforms the market into a futuristic market.” says
a Future Market Insights analyst.
Competitive Landscape
Market participants are focused on minimizing wastage and
innovative solutions to reduce environmental impact by implementing unique and
sustainable labeling solutions for the apparel and retail industry. In addition
to this, the key players are focusing on expanding their product portfolio
through product launches and innovations in their existing products and
expanding their global presence through acquisitions and expansion.
- Zebra
Technologies Corporation, a manufacturer of marking, tracking, and
computer printing technologies, announced that it had completed the
acquisition of Matrox Imaging Company (Matrox Electronic Systems Ltd.), a
developer of advanced machine vision components and software systems.
- Avery
Dennison, a leading manufacturer announced in August 2021 that it has
achieved BioPreferred certification from the USDA (US Dept. of
Agriculture) for C4200, a new hot melt adhesives offering brands new
opportunities to market sustainable packaging to their customers.
Key Companies Profiled:
- TVS
ELECTRONICS
- ZEBRA
- Toshiba
Tec Europe.
- HERMA
Labeling Machines
- RYNAN
Technologies Pte Ltd
- Honeywell
International, Inc.
- Toshiba
TEC Corporation
- SATO
Holdings Corporation
- Avery
Dennison Corporation
- TSC
Auto Id Technology Co., Ltd
- Others
Barcode Printers And Consumables Market Segmentation
By Printer Type:
- Desktop
Printer
- Industrial
Printer
- Mobile
Printer
- Others
By Application:
- Industrial/Manufacturing
- Transportation/Logistics
- Retail
- Healthcare
- Government
- Commercial
Services
By Printing Technology:
- Thermal
Transfer
- Direct
Thermal
- Dot
Matrix
- Laser
- Ink-Jet
By Consumables:
- Ribbons
- Wax
Ribbons
- Wax/Resin
Ribbons
- Resin
Ribbons
- Labels
By Region:
- North
America
- Latin
America
- Europe
- East
Asia
- South
Asia & Pacific
- Middle
East & Africa
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