Wilmington, Delaware , Oct. 26, 2023 (GLOBE NEWSWIRE) -- Allied Market Research has recently published a report, titled, "Barcode Printers Market By Product Type, Printing Type, and End-User Industry: Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global barcode printers market generated $3,758.6 million in 2022, and is anticipated to generate $13,510.6 million by 2032, witnessing a CAGR of 13.7% from 2023 to 2032.
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- 109 - Tables
- 55 - Charts
- 309 - Pages
Prime Determinants of Growth
The rising demand for mobile printers, the growing demand for industrial printers across numerous industrial sectors, and the rising usage of barcode printers for streamlining logistics processes are the major factors predicted to drive the growth of the global barcode printers market in the forecast timeframe. However, the high costs associated with barcode printers and the strict regulations in the printing industry may hamper the barcode printers market growth in the coming period.
On the contrary, the integration of advanced connectivity & wireless technologies and the growing usage of electronic shelf labels & smart label printers provides are expected to offer growth opportunities for expansion of the barcode printers market in the 2023-2032 forecast period.
Report Coverage and Details:
| Report Coverage | Details |
| Forecast Period | 2023-2032 |
| Base Year | 2022 |
| Market Size in 2022 | $3,758.6 million |
| Market Size in 2032 | $13,510.6 million |
| CAGR | 13.7 % |
| No. of Pages in Report | 309 |
| Segments Covered | Product Type, Printer Type, End-User, and Region |
| Drivers | Growing adoption of barcodes in manufacturing industry |
| Rise in demand for wireless mobile printers | |
| Opportunities | Incorporation of computer systems with barcode printers |
| Increasing focus of key market players on producing barcode printers with advanced features | |
| Restraints | High initial investment cost |
Industrial Printer Segment to Maintain Dominance During the Forecast Period
By product type, the industrial printer segment accounted for the major share of nearly half of the barcode printers industry in 2022 and is expected to maintain its dominance during the forecast period. This is mainly because industrial printers are long-lasting and high-quality computer printers used to print barcodes onto tags, labels, packages, and others.
Thermal Transfer Segment to Hold the Majority of Market Share by 2032
By printing type, the thermal transfer segment accounted for the highest market share of around two-fifths in 2022 and is anticipated to witness significant growth during the forecast period. This is mainly owing to the adaptability, dependability, and capacity of thermal transfer printers to create highly legible barcodes in difficult conditions. In addition, these printers offer premium quality printing at an affordable rate, and are majorly used in manufacturing, healthcare, and electronics sectors.
Manufacturing Segment to Flourish Immensely During the Forecast Period
By end-user industry, the manufacturing segment accounted for the highest market share of nearly one-third in 2022 and is expected to hold maximum share by 2032. The strong growth of the segment is attributed to the crucial role of barcode printers in the manufacturing industry in optimizing production processes, assuring accurate inventory management, and enhancing overall supply chain efficiency. Additionally, barcode printers are widely used in the manufacturing industry to create tags and labels that facilitate streamlined tracking as well as identification of equipment, materials, and products.
North America Market to Hold Majority of Market Share by 2032
By region, the North America region accounted for the highest share of around two-fifths of the global barcode printers market in 2022 and is projected to maintain its dominance during the forecast period. This is mainly because North America has a well-developed infrastructure and heavily invests on R&D. The persistent growth of the retail & e-commerce industries, along with the rising preference of people for online shopping in the U.S. and Canada, are also anticipated to drive the demand for barcode printers across the region.
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Leading Players in the Barcode Printers Market:
- Dascom
- Printronix, Inc.
- Zebra Technologies Corp.
- SATO Holdings Corporation
- Honeywell International Inc.
- Toshiba Tec Corporation
- Avery Dennison Corporation.
- Oki Electric Industry Co., Ltd.
- Canon Inc.
The report provides a detailed analysis of the key players of the global barcode printers market. These players have adopted different strategies, such as collaborations, expansion, joint ventures, agreements, new product launches, and others to increase their market share in order to stay competitive in the market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of barcode printers market players to showcase the competitive scenario.
Key Benefits For Stakeholders:
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the barcode printers market analysis from 2022 to 2032 to identify the prevailing barcode printers market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the barcode printers market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global barcode printers market trends, key players, market segments, application areas, and market growth strategies.
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