Market Overview:
Barcode printers are used for printing barcode labels that are used for identification and tracking of assets and inventories. The barcode labels contain specific codes that can be scanned easily for tasks like inventory management, packaging, distribution and more. Barcode printers offer advantages like ease of use, ability to print durable labels, high print quality and speeds that enable efficient operations. They find widespread adoption across industries like retail, transportation, manufacturing and warehousing for automation of processes involving product identification and movement tracking.
Market key trends:
The growing demand for inventory and asset management solutions across industries is a major trend driving the barcode printer market. Automating tracking of inventories helps businesses reduce costs, improve visibility and enhance workflows. Additionally, miniaturization of barcode printers allowing their integration into mobile devices is gaining traction. Market players are focusing on developing compact portable printers suited for field mobility. Furthermore, innovations in barcode printing technologies like thermal transfer and direct thermal printing enabling versatility and label durability continue to support the market growth. Advances in connectivity like WiFi and Bluetooth in printers also improve usability.
The global Barcode Printer Market Demand is estimated to be valued at US$ 4557.39 Mn or in 2023 and is expected to exhibit a CAGR of 8.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Porter’s Analysis
Threat of new entrants: Low capital requirements and established buyers increase threat of new entrants explaining barcode printers market.
Bargaining power of buyers: Large buyers have significant bargaining power to negotiate lower prices and demand better service and quality.
Bargaining power of suppliers: Major suppliers have bargaining power over components and parts supplied to barcode printer makers.
Threat of new substitutes: Emerging innovative labelling technologies pose threat to traditional barcode printers.
Competitive rivalry: Intense competition among existing players keeps pricing and profit margins low.
Key Takeaways
The global Barcode Printer Market is expected to witness high growth, exhibiting CAGR of 8.1% over the forecast period, due to increasing industrial automation and growing retail sector globally.
Regional analysis: APAC dominates barcode printer market and is expected to witness fastest growth during forecast period due increasing manufacturing activities and emerging retail sector in China, India. North America is second largest market driven by high demand from food and pharmaceutical industries in the US and Canada.
Key players operating in the Barcode Printer Market are Zebra Technologies Corporation, Honeywell International, Inc., Toshiba TEC Corporation, SATO Holdings Corporation, Avery Dennison Corporation, GoDEX International Co., Ltd., Printronix, Inc., TSC Auto Id Technology Co., Ltd., Printek, Inc., Oki Electric Industry Co., Ltd., and Stallion Systems And Solutions Pvt. Ltd. Key players are focusing on new technologies such as wireless printers and mobile printers to strengthen market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it