The global Barcode Printer Market is estimated to be valued at US$ 3,900 Mn 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.
Market Overview:
Barcode printers are used for printing barcodes on various items and products across industries. They help in product identification, pricing and inventory management. The advantages of barcode printers include high printing speed, durability, flexibility and ease of use.
Market key trends:
One of the key trends driving the growth in the barcode printer market is the increasing adoption of mobile computing devices across industries. More companies are deploying mobile printers, scanners and other hardware that support wireless connectivity through technologies such as Bluetooth and WiFi. This allows real-time tracking of inventory and other packaged items using mobile devices. The growing popularity of mobile point-of-sale systems is also fueling the demand for portable barcode printers with wireless connectivity.
Segment Analysis
The global barcode printer market is segmented into desktop, industrial and mobile printers. The industrial printers sub-segment dominates the market and accounts for over 40% share. Industrial barcode printers are extensively used across industries such as FMCG, retail, transportation, manufacturing and healthcare for labeling and identification purposes. They offer high-volume and quick printing capabilities along with durability, making them suitable for industrial use.
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 demand from e-commerce and retail industries for efficient product labeling and tracking.
Regional analysis – Asia Pacific dominates the barcode printer market and is expected to grow at the highest CAGR during the forecast period. Rapid growth of e-commerce sector and presence of key players in countries such as China and India are fueling the growth of barcode printer market in the region.
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.
The global barcode printer market size is expected to reach US$ 3,900 Mn in 2023. The CAGR of 8.1% over the forecast period is anticipated to drive significant growth of the market. Increasing adoption of barcode for applications such as product identification, labeling, tracking and inventory management across various industries is expected to propel the demand for barcode printers during 2023-2030.