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The barcode label printer market size is forecast to increase by USD 1.33 billion, at a CAGR of 6.09% between 2022 and 2027. The market's expansion hinges on various factors, notably the rising utilization of two-dimensional (2D) barcodes, driven by the imperative for improved inventory oversight. Additionally, the burgeoning e-commerce sector plays a pivotal role, propelling demand for efficient tracking and management systems. This trend reflects a broader shift towards digitization and automation in supply chain operations, underlining the market's responsiveness to contemporary business needs and the growing reliance on streamlined inventory management solutions.
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This market report extensively covers market segmentation by product (industrial printers, desktop printers, and mobile printers), application (manufacturing, transportation and logistics, retail, healthcare, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The market is driven by the increasing adoption of barcodes across various industries, including healthcare, automotive manufacturing, and library management. The trend towards automated data capture and enhanced output efficiency further fuels market growth. Challenges include the economic crisis of 2008, which impacted market dynamics, and the need for continuous innovation to meet evolving customer demands. Additionally, the market faces challenges related to the integration of Wi-Fi/Bluetooth options and the transition from traditional printing methods to mobile and RFID-based solutions. Our researchers analyzed the data with 2022 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 printer 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 is witnessing substantial growth, driven by the widespread adoption of barcodes in manufacturing across various industries. Automotive manufacturing companies, in particular, are increasingly integrating barcode technology into their operations for enhanced efficiency. With options like direct thermal and dot matrix printers, businesses can generate machine-readable barcodes efficiently. Moreover, the market sees demand for printers compatible with matrix barcodes and quick response (QR) code. Technologies such as Radio Frequency Identification (RFID) and Universal Product Codes (UPCs) further contribute to market expansion. Wi-Fi and Bluetooth-enabled printers offer enhanced accessibility, supporting automated data capture processes in manufacturing environments. Further, the market is experiencing significant growth, particularly fueled by the healthcare industry adoption of barcode technology for medication identification and product tracking. With features like matrix barcode compatibility and QR barcode readers, barcode label printers enhance automation and output efficiency in various sectors. Additionally, the integration of Wi-Fi/Bluetooth option facilitates seamless connectivity, enabling real-time data transfer and the reduction of wastage. Mobile printers further contribute to the market's expansion by offering flexibility and convenience in printing barcode labels on the go.
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 1.78 billion in 2017 and continued to grow until 2021. 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 30% 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 barcode label printer market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The market is witnessing robust growth driven by the increasing demand for packaged goods across various industries. Barcode printers, including industrial, laser, and thermal printers, play a pivotal role in enhancing output efficiency and streamlining manufacturing processes. With advancements like cloud-based solutions and wireless connectivity, it facilitate seamless tracking and tracing processes, contributing to improved product identification and patient identification in healthcare settings. The utilization of 2D code and barcode tags, along with the integration of camera phones and PLCs, further amplifies the capabilities. Additionally, the rise in mobile printer use and the adoption of specialty printers cater to diverse printing needs, including POS transactions and packaging labels for retail segments. Overall, the barcode label printer market continues to evolve, driven by technological advancements and the increasing demand for automation in various industries.
Additionally, the market is experiencing significant growth due to factors such as the increasing demand for efficiency and automation in various sectors, including retail and manufacturing. Industrial printers, thermal printers, and portable printers are witnessing higher adoption rates, driven by the need for streamlined processes and enhanced output efficiency. The integration of PLCs and robotics further augments printing capabilities, while inkjet and laser printing technologies ensure precise and high-speed printing. Additionally, the rise in the use of 2D codes and thermal transfer printing addresses the diverse needs of industries, such as packaged food and retail, reflecting the market's dynamic nature and continuous evolution.
Market Scope |
|
Report Coverage |
Details |
Page number |
174 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.09% |
Market growth 2023-2027 |
USD 1.33 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.76 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 30% |
Key countries |
US, China, Japan, India, and Germany |
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 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 forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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