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The barcode label printer market size is estimated to grow at a CAGR of 6.09% between 2022 and 2027. The barcode label printer market size is forecast to increase by USD 1,332.88 million. The growth of the market depends on several factors, including the increasing adoption of two-dimensional (2D) barcodes, the increasing need for better inventory management, the growing e-commerce industry.
This barcode label printer 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.
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The increasing adoption of two-dimensional (2D) barcodes are notably driving the market growth, although factors such as increased adoption of RFID printers may impede the market growth. 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 global barcode label printer 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, m-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 the vendors 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 vendors 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 global barcode label printer 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 report includes the adoption lifecycle of the market, 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 growth strategies.
Global Barcode Label Printer Market Customer Landscape
Vendors 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 15 market vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors 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 labeling. 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, M-Class Mark II that provide error-proof labeling, easy programmability, and advanced networking connectivity and security.
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The industrial printers segment was valued at USD 1,783.69 million in 2017 and continued to grow until 2021. Industrial printers from a variety of vendors 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 for barcode label printers 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 in the region is witnessing certain challenges due to the outbreak of COVID-19 in 2020. However, in 2021, many businesses resumed their operations with the relaxation of stringent lockdowns due to the availability of COVID-19 vaccines and vaccination drives carried out by several governments, such as China, India, and Singapore. Furthermore, the increase in the demand for multiuse printers has been rising with the resumption of operations. Thus, the market is expected to grow in 2022 and during the forecast period owing to the resumption of operations in the vendor and end-user industries.
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.
Technavio categorizes the global barcode label printer market as a part of the global technology hardware, storage, and peripherals market within the overall global information technology market. The parent global technology hardware, storage, and peripherals market covers manufacturers of cellular phones, personal computers, servers, electronic computer components, and peripherals. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
Barcode Label Printer 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 1,332.88 million |
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 Vendors, Market Positioning of Vendors, 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 analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for 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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