by Market Overview:
Barcode printers are equipment that print barcode labels or tags which are used for identification and tracking of objects. They help organizations to easily track production details, inventory levels, shipping details and asset management.
Market key trends:
The growing e-commerce industry is driving the need for barcode printing across various industries for tracking shipments. The rising adoption of mobile printers for field-service applications is also supporting the market growth. Mobile printers offer portability and provide real-time tracking capabilities. Their ability to print barcodes on-the-go without being tied to a fixed location makes them suitable for applications ranging from field-service work to warehouse/inventory management.
One of the key trends in the barcode printer market is the increasing adoption of thermal printers. Thermal printers are seeing rising popularity compared to laser or inkjet printers due to their ability to print barcodes without using ribbons, which makes them more durable and reliable. Thermal printers result in lower total cost of ownership as they have lower cost per print and require minimal maintenance. They also offer advantages like resistance to solvents, ability to print on heat-sensitive materials, and faster printing speeds.
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.
SWOT Analysis
Strength: Thermal printers dominate the market due to their affordability, durability, and lack of requirement for ribbons. They are energy-efficient and easy to maintain.
Weakness: Thermal printers have lower resolution and print quality compared to laser printers. They cannot print colorful images or graphics.
Opportunity: Growth of e-commerce and supply chain management applications is driving demand for industrial barcode printers that can withstand harsh environments. Increased focus on automation and inventory management also presents opportunities.
Threats: Availability of inexpensive barcode labels from suppliers reduces the need for on-site printing. Economic slowdowns can decrease demand from manufacturing and retail sectors.
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 logistics industries for efficient inventory tracking and management.
Regional analysis: Asia Pacific dominates the market currently due to strong presence of manufacturing industries in countries like China and India. The region exhibits highest growth rate owing to rising industrial automation.
Key players: 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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
