Barcode printers market revenue is anticipated to grow considerably over the coming five years, driven by rising demand for portable scanners, thermal mobile printers, and portable printers. Moreover, rapid technological breakthroughs have further contributed towards the growing popularity of barcode printers across healthcare, retail, government, shipping, and manufacturing sectors. As per Global Market Insights, Inc., “Barcode printers market size is expected to hit USD 4.51 billion by 2022.” Rising trend of IoT, RFID, and NFC technologies are expected to open new vistas for barcode printers industry over the next few years.
EMEA barcode printers market size by application, 2012 – 2022 (USD Million)
Manufacturing sector is one of the major application areas, expected to create high growth opportunities for the industry over the coming years. As per the research study, manufacturing sector contributed over 35% of global barcode printers market share in 2014, driven by wide application of barcode printers in inventory control & labelling and tracking of work-in-progress activities.
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Barcode printers market value in the retail sector is expected to surpass USD 800 million by 2022, driven by its wide use in shelf labelling, price-tag printing, product labelling, and point-of-sale. Furthermore, many of the retail stores offer facilities such as receipt printing and payment processing by using printers and scanners. Moreover, extensive use of barcode printers in patient ID systems, patient data tracking, and patient care activities is expected to drive the industry revenue in the healthcare sector.
Industrial, desktop, and mobile printers are the major products of barcode printers market. Industrial barcode printers market, which contributed towards 60% of the overall revenue in 2014, is predicted to dominate the product landscape over the coming five years. High product demand across warehouse & order labelling applications is expected to influence the industry growth. Mobile barcode printers industry size is expected to grow considerably over the coming timeframe, owing to its use in printing receipts, tickets, and labels.
Printers making use of laser, thermal transfer, ink-jet, impact, and direct thermal technologies are expected to impact the revenue prospects of the industry over the coming years. Thermal transfer barcode printers market is projected to cross the revenue of USD 1.7 billion by 2022. Direct thermal barcode printers industry is expected to grow at a rate of 9.7% over the period of 2015-2022, driven by its ability to create a durable image on printing materials along with its growing use in printing shipping labels as well as receipts.
Below are the regional trends influencing barcode printers market over 2015-2022
- North America barcode printers industry is expected to dominate the global share over the coming years. U.S is expected to contribute significantly towards the regional revenue.
- High capital investments by multinational corporations across retail and industrial sectors is expected to drive the APAC barcode printers industry size. Furthermore, the growing presence of production units in the region is expected to boost the regional growth.
Key industry participants include SATO Holdings Corporation, Dascom, Toshiba Tec Corporation, Honeywell Safety and Productivity Solutions, Avery Dennison Company, Zebra Technologies, Printronix, Printek, and Dascom.
Below are the key trends in the barcode printers market to watch for in the coming five years
- Thermal mobile printers are deployed on a large scale by various firms as they are cost-effective and help in enhancing the work throughput.
- Manufacturing sector dominated the application landscape in 2014 and can continue to lead the market share over the coming years.
- Industrial barcode printers will continue to dominate the product segment over 2015-2022, with revenue projected to cross USD 2.8 billion by 2022.
- Thermal transfer barcode technology is expected to dominate the technology landscape.
- North America, contributing nearly 30% of overall revenue in 2014, to continue dominating the regional landscape over the next five years.
- Key industry players will try to enhance their sale and regional presence by adopting business growth strategies such as mergers & acquisitions.
Author Name : Dhananjay Punekar