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The barcode label printer market size is forecast to increase by USD 1.59 billion, at a CAGR of 6.78% between 2023 and 2028. The market's expansion is driven by several key factors, foremost among them the increasing adoption of two-dimensional (2D) barcodes, which enhance inventory oversight and management efficiency. This trend is fueled by the growing e-commerce sector's demand for robust tracking and management systems to optimize supply chain operations. As businesses embrace digitization and automation, there is a pronounced shift towards streamlined inventory management solutions. This evolution underscores the market's responsiveness to modern business requirements and the escalating reliance on efficient inventory tracking technologies. The integration of 2D barcodes not only improves inventory visibility but also supports agile decision-making processes, enhancing overall operational efficiency across various industries. Thus, the market continues to expand, driven by innovations that cater to the evolving needs of businesses striving for enhanced productivity and competitive edge in a digital economy.
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The market is at the forefront of streamlining operations across industry verticals, particularly in packaged goods and food production. Mobile printers enhance output efficiency by minimizing wastage and reducing production time, crucial for quick response to market demands. These printers support a variety of barcode formats including Matrix barcode, 2D codes, EANs, and UPCs, ensuring compatibility with modern technologies like radio frequency identification and robotics. Industrial robots aid in assembly and enhance overall production efficiency. The market caters to diverse needs, from portable printers for on-the-go labeling to advanced solutions for large-scale operations. Innovations in barcode printing continue to drive efficiencies in logistics and supply chain management, supported by the International Federation's standards for product identification and traceability across global markets. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing adoption of two-dimensional (2D) barcodes is notably driving the barcode label printer market growth. 2D barcodes such as QR, Data Matrix, and Portable Data File (PDF)417 are increasingly being used in the retail, healthcare, transportation, and logistics industries. QR Codes are the most common two-dimensional barcodes used in the industry. You can also scan from mobile devices such as smartphones and tablets. PDF417 consists of 4 bars and spaces and each pattern is 17 units long. This 2D barcode is primarily used for inventory management in the retail, healthcare, and transportation industries.
Moreover, the data Matrix barcodes are generally used to mark small items with a square or rectangle pattern known as the matrix. They are mostly used in warehousing with the information being encoded in the form of text or numeric data. 2D barcodes are compact and can significantly store more information than 1D. They can be read easily because of their ability to hold information both horizontally and vertically. Moreover, they contain 10 times more information than a 1D barcode can hold. These codes can also contain logos and pictures, thereby allowing better and more efficient identification of the product. Thus, such factors are expected to drive the growth of the market during the forecast period.
The rising omnichannel retailing is the key market trend driving the barcode label printer market growth. Retailers sell their products and goods through multiple mediums such as brick-and-mortar stores, e-commerce, and e-commerce, which is called omnichannel retailing. With the growing penetration of the Internet and the improving network infrastructures, retailers have started increasing their reach and have revolutionized the shopping experience for customers with the help of e-commerce and m-commerce. Inventory visibility is the key to the success of online retailing and is important for companies to create middleware solutions for specific end-user segments.
In addition, barcode labels help retailers to get information about the movement of goods through the supply chain with increased visibility. Further, omnichannel companies are launching platforms more suitable for retail. Thus, omnichannel retailing in the market is trending. Thus, the above-mentioned factors are expected to fuel the growth of the market during the forecast period.
The major challenge impeding the barcode label printer market growth is the increase in the adoption of RFID printers. RFID label printers are used to print labels that contain information such as unique IDs and electronic product codes, and the labels are marked with barcodes and human-readable text by the printer. RFID tags have non-volatile memory and can potentially store up to 8 KB of information (minimum 32-bit reserved memory).
Moreover, the RFID smart printers can handle common RFID inlays and have large data storage capabilities, which is also driving their adoption among consumers. In addition, they are easy to service and integrate with the existing network technology. All these factors are driving the adoption of RFID printers, hindering the market growth for barcode label printers. Such factors will hinder the market growth during the forecast period.
The market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Avery Dennison Corp.: The company offers barcode label printers such as Avery Dennison Pathfinder 6059.
The report also includes detailed analyses of the competitive landscape of the market and information about 17 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the industrial printers segment will be significant during the forecast period. Industrial printers are mainly used for high-volume applications such as job labeling and warehouse labelling. These printers can also be used for harsh applications. For example, Honeywell International Inc. (Honeywell International) offers industrial label printers such as the PXie series, PX940, PM43, PM43c, PM23c, and M-Class Mark II that provide error-proof labelling, easy programmability, and advanced networking connectivity and security.
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The industrial printers segment was valued at USD 1.86 billion in 2018. Industrial printers from a variety of companies are used for asset management, compliance labeling, cross-docking, lab sample tracking, receiving and shipping, reverse logistics, work-in-progress tracking, inventory management, information labeling, order labeling, and Used for quality control. Due to these advantages, the demand for industrial printers is expected to increase during the forecast period.
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APAC is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In recent years, several countries in APAC have witnessed significant growth in their manufacturing and logistics sectors. This has led to an increased demand to streamline operations and improve productivity. Moreover, the adoption of automated labeling solutions in various industries has further accelerated the demand for barcode label printers in the region.
Moreover, RFID has emerged as a highly efficient and reliable alternative to traditional barcode labels, and several key players in the market are offering RFID-enabled printers to meet the growing demand. Such factors will increase the market growth in this region during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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The market is characterized by its versatility and innovation, catering to diverse industries including Ecommerce industry and packaged food. Mobile printers with dual WiFi and Bluetooth options facilitate on-the-go printing, while specialty printers like the IMPACT series offer high-resolution printing at 600 dpi and speeds up to 14 ips. These printers support various barcode formats, such as 2D codes and QR barcodes, crucial for efficient scanning with camera phones and QR barcode readers. Technologies like direct thermal, thermal transfer, inkjet, laser printing, and dot matrix ensure compatibility with different product types and packaging materials. Advanced features like PLC integration and well-developed infrastructure enhance operational efficiency, while robust ribbon capacity meets industrial demands. As the market evolves, its focus on innovative solutions continues to drive advancements in barcode printing technology for improved productivity and traceability in global supply chains.
In addition, the market is pivotal in various industries, including the ecommerce sector, where mobile printer with Bluetooth options facilitate on-the-go printing. These printers support efficient barcode printers for diverse product types, utilizing technologies like ink jet for clear, precise labels on both barcode tags and receipts. They accommodate various physical objects, enhancing operational efficiency across different product types and packaging materials. The market adheres to standards set by the International Federation for seamless integration and compliance. Four-inch desktop printers are popular for their compact design and versatility in handling barcode tags and labels. With high printing speeds and robust capabilities, including 2D code and metal printing, these printers are integral to the development base of modern supply chains, ensuring quick and accurate identification and tracking of goods.
Market Scope |
|
Report Coverage |
Details |
Page number |
185 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.78% |
Market Growth 2024-2028 |
USD 1.59 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.23 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 34% |
Key countries |
US, China, Japan, Germany, and India |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Avery Dennison Corp., Barcodes Inc., Brady Corp., Brother Industries Ltd., cab Produkttechnik GmbH and Co. KG, Citizen Watch Co. Ltd., Datalogic SpA, Fujitsu Ltd., GAINSCHA TECHNOLOGY GROUP Co., Honeywell International Inc., Newell Brands Inc., Panth Enterprise, Postek Technologies Inc., SATO Holdings Corp., Seiko Epson Corp., Shandong New Beiyang Information Technology Co. Ltd., Toshiba Corp., TSC Auto ID Technology Co. Ltd., WINCODE Technology Co. Ltd., and Zebra Technologies Corp. |
Market dynamics |
Parent market growth analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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