Barcode Printers Market to cross $3bn by 2024

Barcode Printers Market size was around USD 2 billion in 2016, and is set to exceed USD 3 billion by 2024; according to a new research report by Global Market Insights, Inc. Barcode printers are commonly used to label retail cartons and items with European Article Numbers (EANs) and Universal Product Codes (UPCs) before shipment. Growing usage of barcodes in the organized retail sector for classification and point of sale (POS) purposes is anticipated to drive the barcode printers industry over the coming years. In addition, the trend of mobile sale workforce for carrying out transactions in warehouses has amplified the demand for mobile barcode printers which can wirelessly connect to the network and print receipts instantly.

Rising demand for barcode wristbands for patient identification in the healthcare industry will positively impact the barcode printers market growth. The most important function barcodes offer the hospital staff is the ability to verify the right patient with appropriate treatment. With the usage of these solutions, access to accurate and reliable patient information along with point-of-care medicine administration, surgical procedure and specimen collection can be successfully achieved. Moreover, barcodes are enabling speedy, accurate data entry and are reducing medical errors for the healthcare industry, thereby allowing time to be spent on enhancing effectiveness instead of manually entering data.

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Mobile printers are helping several sales workforces to print high quality receipts, tickets or labels in any environment, and are portable to use. They communicate with smart devices and computers through a USB connection, Bluetooth, or Wi-Fi and boost employee accuracy, efficiency and productivity in several applications. Rise in demand for mobile solutions is anticipated to propel the mobile barcode printers industry growth in the coming years owing to growing usage of barcode wristbands in the healthcare industry.

Ink-jet, impact and laser technologies will witness slow growth compared to the thermal printing technologies in the coming years. The slow growth of these technologies can be majorly credited to the substantial growth prospects witnessed across the thermal barcode printers industry space, which can accomplish critical applications, and offer enhanced image output. Thermal transfer technology is widely used for long-lasting or permanent labelling applications while the direct thermal technology is used to produce receipts, picking & shipping labels, and other applications. Rising demand from short-shelf life applications such as shipping labels and receipts will propel the growth.

The U.S. barcode printers market was the leading regional segment in 2016. In the region, the Food and Drug Administration (FDA) has made barcode labeling important for certain medications as it has the potential to reduce transcription and medication errors. With this requirement, the National Drug Code (NDC) barcodes all its biological and pharmaceutical products and items used in healthcare facilities with a linear barcode to ensure that expired or counterfeit medications are not being issued to patients, thereby driving the demand.

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Key players operating in the barcode printers market include Zebra Technologies, TSC Auto ID Technology Co., Ltd Seiko Epson Corporation, Oki Electric Industry Co., Ltd., Avery Dennison, Godex International Co. Ltd, Toshiba Tec Corporation, Honeywell Scanning & Mobility, Printronix, Dascom, and Printek among others. The industry is witnessing a rise in suppliers selling low-cost printers mainly from countries in Asia Pacific, which has led to the barcode printers market being extremely commoditized.

Companies are licensing their product portfolio which include patent rights, and are beneficial in the manufacturing and distribution of the products. Moreover, several vendors are spreading their businesses to emerging regions such as MEA and Latin America, as the North America and Europe barcode printers market appears to be relatively mature. The industry will witness high growth owing to the presence of production facilities in the Asia Pacific countries with enhanced investments from multinational companies in manufacturing, retail, and healthcare sectors.

Browse key industry insights spread across 230 pages with 287 market data tables & 181 figures & charts from the report, “Barcode Printers Market Size By Product (Industrial, Desktop, Mobile), By Technology (Thermal Transfer, Direct Thermal, Laser, Impact, Ink-Jet), By Resolution (Below 300 dpi, Between 301 & 600 dpi, Above 601 dpi), By Connectivity (Wired, Wireless), By Application (Manufacturing, Retail, Government, Transportation & Logistics, Entertainment & Hospitality, Healthcare), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Russia, China, India, Japan, Taiwan, South Korea, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/barcode-printers-market-size

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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