Barcode Printers Market to be strongly characterized by extensive product innovations and strategic alliances, global revenue to exceed USD 3.5 billion by 2024
In recent times, barcode printers market has been witnessing rapid expansion owing to the cutting-edge products being unveiled by prominent industry players and their consistent adoption of strategic growth tactics. Citing an instance of the latest product innovation, Printronix Auto ID Inc., one of the global leaders partaking in industrial barcode printing industry, has launched a high-performance thermal barcode printer, the T6000. Equipped with advanced features such as an enhanced print speed of 14 inches per second, an interactive screen which lowers downtime, postscript and pdf support for complex labelling requirements, and improved RFID capabilities, this product is indeed revolutionary.
It would also be imperative to state that this latest thermal barcode printer seamlessly integrates with any network infrastructure with plug and play facility and comes with unique online data validation process which assists in producing barcodes that eliminate exorbitant compliance fees. Such dynamic and encouraging technological advancements in product development are set to favorably influence the growth prospects of barcode printers market in the upcoming years. According to research analysts, the global barcode printers industry size stood at USD 2.4 billion in 2017.
UK barcode printers market, by application, 2017 & 2024 (USD Million)
Thermal barcode printers have indeed found commendable traction over the years in various industry domains due to their outstanding thermal transfer technology. Embedded in thermal barcode printers, this technology offers long-lasting labeling applications, which have in turn found extensive usage in printing cards, magazines, posters, picking and shipping labels, receipts, and books. Evidently, the adoption of these printers has had a major impact on barcode printers market outlook. Indeed, thermal-based printers account for more than 65% of the overall industry share and are likely to gain commendable returns in the ensuing years owing to their excellent durability and low operational costs.
Concurrently, the diverse applications of barcode printers are increasingly being deployed in the healthcare industry. Noteworthy applications such as desktop barcode printers in particular, are contemplated as an ideal product for the healthcare industry, as they have helped boost the efficiency and productivity of medical care operations. The product has emerged to be of immense use in hospitals as it offers accurate patient information, enhanced medicine administration, parcel post, specimen collection and identification, shipping/receiving labels and patient identification. The growing demand for products such as barcode-based wristbands for patient identification will thus drive desktop barcode printers market trends over 2018-2024.
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Meanwhile, it would be well advised to enumerate the challenges that would impede the growth potential of barcode printers industry in the longer run. The vertical apparently, has been marred by the low printing quality of labels, add to it the rising prominence of Radio Frequency Identification (RFID) tags. In the years to come however, these restraints are likely to take on a turn for the better, as companies continue to conduct R&D activities to develop innovative solutions with a high level of reliability.
Speaking of the regional expansion outlook, Europe barcode printers market is likely to garner appreciable return in the coming years. This growth can be primarily attributed to the rising deployment of these products to improve customer experience and visibility. The ability of these systems to enhance efficiency and lower costs incurred through errors in shipping, packing, and manual input enables companies to achieve high Return on Investment (ROI), thereby impelling the regional barcode printers industry share.
This business fraternity is anticipated to witness intense competition among the major industry players such as Printonix Auto Id Inc., Epson America Inc., Toshiba Tec Corporation, Zebra Technologies, Honeywell Scanning and Mobility, Dascom, Printek, Seiko Epson Corporation and Godex International Co. Ltd., etc. In a bid to strengthen their positions across the vertical, companies have been highly vigilant as far as conducting robust collaborations and alliances is concerned, as enumerated by the partnership between the leading barcode printers’ producer, Epson America Inc. and the barcode labeling software manufacturer TEKLYNX International. The alliance features the seamless integration of TEKLYNX barcode label design software and Epson’s inkjet color label printer that would provide GHS-compliant chemical barcode labeling for all the sizes in the manufacturing industry.
As the adoption of lucrative growth tactics among market participants surges in the years ahead, barcode printers industry trends are likely to undergo a major transformation. Having been pegged at a valuation of 3 million units in terms of shipments in 2017, barcode printers market size has been forecast to register a CAGR of 5% over 2018-2024.
Author Name : Saif Ali Bepari
APAC molded interconnect devices market to surpass USD 400 million by 2024, with China as a major revenue pocket
Molded Interconnect Devices (MID) market is poised to witness an accelerated growth over the ensuing years, amidst the backdrop of the frequent technological advancements in telecommunication sector. The ability of the device to facilitate miniaturization has largely added to the expansion of its application portfolio in a range of consumer products.
U.S. molded interconnect devices (MID) market size, by end-use, 2017 & 2024 (USD Million)
MIDs have gradually become the prime circuitry solution choice in the automotive and electronics industry, owing to its easy assembling, smaller circuitry. and light weight when compared to conventional PCB circuits. It is prudent to mention that the eco-friendly tag that these devices carry is one of the major factors fueling the MID market growth worldwide. These devices reportedly incorporate thermoplastic materials that are recyclable and do not involve hazardous manufacturing processes.
The growth of MID market has been greatly boosted by economies that rely on their manufacturing industry for growth, with the Asian economy – majorly China, South Korea, Japan and Taiwan in the lead.
Below is an outline of molded interconnect devices market trends with regional frame of reference:
Asia-Pacific MID Market Outlook:
Touted as one of the major growth avenues in the MID market, China is estimated to contribute over $155 million to the MID industry by 2024, aided by the increasing demand for MIDs in the consumer electronics sector. China has achieved a rapid growth rate because of its ability to provide cheap labor for manufacturing industries, which has prompted many multinational companies to shift their manufacturing units in the country. The nation has now turned into a global manufacturing hub, with Apple setting one of the most prominent examples of this trend.
The technology company with an expansive product portfolio comprising portable electronic devices that are more compact and reliable is an ideal target consumer for the MID market. China also boasts of other domestic tech companies who have recently began dominating the smartphone market owing to their competitive sleek devices, the One Plus flagship line being an example of this phenomenon. Not to mention, the region being a key automotive manufacturing hub hosting the presence of many international and domestic brands also adds to its strong contendership in the global MID industry fraternity.
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Japan is another prominent nation fueling APAC molded interconnect devices market growth. The region’s thriving automobile manufacturing industry is slated to be one of the top-notch regional drivers. With circuitry designed using MID facilitating the incorporation of these cutting-edge technological features, it is overt that APAC will be one of the most lucrative hubs for the MID market expansion. As per reliable estimates, overall APAC MID market is projected to surpass a valuation of USD 400 million by 2024.
Europe MID Market Outlook:
European nations have been renowned for their active participation toward ensuring environmental sustainability trends, making the continent one of the leading players in the MID market expansion. The MID Laser Direct Structuring (LDS) manufacturing process allows MID to be made via a single-shot molding process which is relatively less harsh on the environment than conventional methods.
The continent’s expanding vehicle manufacturing sector in tandem with the presence some of the world’s major automotive OEMs is expected to boost the Europe MID market share in the coming years. The rapid technological advancements with regard to automotive safety such as seatbelt safety systems and sensor positioning will further provide massive growth opportunities to the MID industry players. The regional demand is slated to record a CAGR of about 10.5% from 2018 to 2024.
Besides the consumer electronics and automotive sectors, one of the most anticipated trends in the MID market remains the contribution of healthcare fraternity to this space. With rapid R&D investments toward healthcare prototyping gaining prominence, the sector is certain to be a profitable end-user for the molded interconnected devices manufacturers. Global Market Insights, Inc. forecasts the healthcare MID industry to record an appreciable double-digit CAGR of 15% over 2018-2024.
Author Name : Akshay Kedari
Rapid industrialization coupled with stringent environmental regulations to curb air pollutants is expected to drive pleated filters market
The size of pleated filters market is anticipated to touch 326.0 million units till 2022 as predicted by Global Market Insights. It is rising at a compound annual growth rate (CAGR) of 6.5% between years 2015 to 2022. Strict regulations of environment because of degradation in the quality of air along with rising demand of energy saving are likely to boost the pleated filter market trend. Efforts for restricting the growth of air borne infection are also expected to fuel up the market.
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Accelerating demand of infrastructure especially in Middle East & Africa along with Asia Pacific is indicating towards booming future of HVAC systems. Construction spending of Asia Pacific countries namely India, China and Japan was anticipated as USD 427 billion, USD 1.78 trillion and USD 742 million respectively in the year 2013. Fuelling usage of HVAC systems along with switching from old air conditions is likely to expedite the pleated filters market share.
Apart from infrastructure, Asia Pacific countries namely India, China, Japan and MEA are observing great demand in vehicles. And this demand will bring a boom in filters, as they play a pivotal role in engines of automobiles. Also the demand of clean oil and great energy efficiency in automobile industries is likely to boost up the market.
Let’s take a look on some of the eye-catching figures, indicating the future of pleated filters:
- Market of oil filters enjoyed greater than 10% of overall demand in the year 2014 and is anticipated to rise at an annual growth rate of 7% till 2022.
- Commercial sectors which comprise of schools, buildings and offices have noticed 20% of overall demand in the year 2014 and are likely to grow over 6% till 2022.
- Asia Pacific market of pleated filters dominated in the year 2014 and hence reached up to USD 3 billion.
- Industrial applications noticed maximum installation, thus earning significant revenue of USD 3.5 billion in the year 2014. This sector has been emerged as a thriving segment because of demand in infrastructure development of power and cement industries. Limitations in emission along with HEPA standards are expected to drive the need for industrial applications.
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The global market of pleated filters has got an upsurge because of national as well as international participants. This market is anticipated to attract more business in near future due to emerging industries and economies. Major companies comprise of 3M Company, General Motors Company, The Strainite Companies, Donaldson Company Inc., Midwesco Filter Resources Inc, Columbus Industries, Camfil AB and Atlas Copco.
Author Name : Dhananjay Punekar
APAC flooring market to witness remarkable growth over 2017-2024, expanding construction sector to drive the regional trends
The growth prospect of flooring market is forecast to be substantially high in the ensuing years, augmented by the expanding construction ecosystem. Robust increase in construction spending across industrial, commercial, and residential sectors has significantly upscaled flooring market demand, especially across emerging nations. As per reliable estimates, global construction spending is expected to surpass USD 15 trillion by the end of 2024, which clearly portrays the lucrative opportunities for the global flooring market in the coming years. ‘Smart flooring’ has already become the latest buzzword among the infrastructural players, with workplace décor and stylish homes claimed to be the ultimate reflection of high standards of living. In response to the growing demand for flooring materials with blend of style, economic, as well as efficiency quotients, flooring market giants are coming up with variety of options that not only reflects aesthetics in design, but also stands as the test of time.
China Flooring Market, By Product, 2012-2024, (USD Billion)
Boasting a diversified product portfolio that encompasses soft flooring, resilient flooring, seamless flooring, and non-resilient flooring, flooring industry size in 2016, was almost USD 270 billion. Accounting for a sizable chunk of almost 35% of the overall industry share in 2016, soft covering emerged as one of the leading product domains in the global business space. The increasing demand for rugs and carpets in offices and housing complexes has phenomenally swayed the product penetration across major economies. Endorsed with a unique dust binding property and reduced noise effect, soft flooring market was almost USD 110 billion in 2016.
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Speaking of the geographical trends, the flooring market size has, of late, witnessed a rapid escalation in the emerging economies – Asia Pacific being one of the major names in the list of growth avenues. The reason behind APAC to become the preferred investment destination for flooring market giants is quite overt- its expanding construction sector. As per reliable sources, APAC is projected to account for over 46% of the global construction market by 2020. Besides, extensive developments in manufacturing sector along with growing population have further propelled flooring industry proliferation in this belt. Experts claim, China and India to be the two protruding regions that would showcase tremendous growth. In this regard, China’s National Urbanization plan for the period 2014-2020, that revolves around the mission of settling more than 100 million urban inhabitants by the end of 2020, and which would raise the urbanization rate in China to 60%, is estimated to be one of the major initiatives influencing the regional flooring market trends.
Worldwide, flooring industry is highly fragmented with the presence of a large number of regional and local manufacturers. Some of the leading names include Tarkett, Shaw Floors, Mannington Mills, Beaulieu, Armstrong, Marazzi Group, and Mohawk Industries. Driven by the sustainability trends that have created an increasing demand for ecofriendly floor coverings, these giants are heavily investing in innovative solutions that are not only stylish in décor but also are environmentally viable. The Polyester (P.E.T) Berber carpet is one such sustainable flooring solution that has gained a global attention of late. Reportedly, these carpets are produced from 100% recycled tires and bottle caps. With established giants leading the way toward innovative products and solutions, it is certain that flooring market is certain to undergo a positive transformation in the coming years. In terms of commercialization, Global Market Insights, Inc., estimates flooring industry size to exceed a valuation of USD 450 billion by 2024.
Author Name : Satarupa De
APAC gas sensors market to witness remarkable proceeds over 2018-2024, China to be a major revenue pocket
Gas sensors market is one among the few vibrant business spheres where innovations and technology quite aptly outline the key to profitability and opportunities. The industry participants are thoroughly investing in research activities to bring product improvisations in terms of advancements and sustainability quotients, that in extension is enhancing the product and commercialization matrix of this fraternity.
India gas sensors market, by end-use, 2017 & 2024 (USD Thousand)
Backing the fact with a recent case in point – Sensirion AG, a leading manufacturer of high-end sensors, has bestowed the marketplace with novel gas sensors that are not only technologically progressive, but are also environmentally viable. As claimed by the experts, Sensirion’s upgraded solutions offer precise air quality information based on some of the major environmental grounds such as VOC content, humidity, carbon dioxide presence, temperature, and particulate matter content. Undoubtedly, such exemplary initiatives undertaken by the renowned giants with regards to environmental sensing have opened up a slew of lucrative opportunities for gas sensors market players, in terms of commercialization and sustainability.
In terms of revenue, Global Market Insights, Inc. reports the global gas sensors industry to have surpassed a valuation of USD 2.5 billion in 2017. Safety measures, of late, have become an integral axiom in the manufacturing space, subject to the stringent regulatory framework regarding workplace safety and health hazards due to poor air quality. Gas sensors industry trends is heavily influenced by the growing governmental initiatives across the world. Companies involved in gas sensors industry are introducing innovative application-specific components that comply with the safety standardization such as CSA and ATEX.
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In this regard, it is important to note that majority of these air quality standardizations and norms are implemented in industrial and automotive sectors. For instance, EPA’s Clean Energy Act has already set limits on some of the air pollutants, that is claimed to be hazardous for the environment. The act also gives the EPA the power to limit harmful emissions of air pollutants from sources like utilities, chemical plants, and steel mills. These mandatory roll-outs have left a huge impact on gas sensors market penetration, subject to the fact that these aforementioned sectors are mandated to install gas sensors in the plants to curb air pollution by efficiently regulating harmful emissions.
Asia Pacific to strongly influence global gas sensors market growth
The expanding automobile sector and rising trend of automation across a myriad range of domains are chronicled to be some of the major factors driving APAC gas sensors market size. Reportedly, China and India are anticipated to be the major revenue pockets for APAC gas sensors industry. The growth in these regions can be primarily credited to the phenomenally increasing technological developments with regards to curtailment of hazardous air pollutant emissions.
Allegedly, China has been remarkably incorporating miniaturized and wireless sensors to enable convenient detection of toxic gases. Moreover, the growing urbanization and demand for technologically upgraded products such as E- compressor and E-turbo is further fueling China gas sensors market share. Beijing and Shanghai are touted to be pivotal contributors to the rapidly deteriorating outdoor air quality, that exceeded the set particulate matter concentration by the WHO by a substantial proportion in 2017, which has further impelled China gas sensors market.
However, in parallel to these developments the industry is also facing some major challenges with the exponentially increasing number of CO and CO2 sensors. The overcrowding of these devices has not only impacted the strategic landscape but has also raised a question on the product differentiation and innovations with regards to these sensors. Keeping this into consideration, the market players are vigorously investing in R&D activities to offer a diversified range of products, addressing the innovation and feasibility parameters. Some of the prominent names in the industry include Amphenol Corporation, Dynament, Bosch Sensortec, City Technology, Figaro Engineering Inc., Honeywell International Inc., Teledyne Technologies Incorporated, Trolex Ltd, and Siemens AG.
With the expanding application spectrum of gas sensors industry across a myriad range of sectors including consumer electronics, medical, environmental, petrochemical, automotive, industrial and the increasing trend of wireless and miniatured devices, it is overt for this business space to record commendable gains in the ensuing years. Statistics project the global gas sensors market size to surpass USD 3 billion by 2024.
Author Name : Saipriya Iyer