Barcode Printers Market

Barcode Printers Market Outlook (2022 to 2032)

The global barcode printer market is projected to have a moderate-paced CAGR of 7.4% during the forecast period. The current valuation of the market is USD 4,188.60 Million in 2022.

The market value of the barcode printer market is anticipated to reach a high of USD 8,552.87 Million by the year 2032. A historical CAGR of 5.6% has been recorded by the experts of Future Market Insights for the concerned market.

Report Attribute	Details
Barcode Printers Market Value (2022)	USD 4,188.60 Million
Barcode Printers Market Anticipated Value (2032)	USD 8,552.87 Million
Barcode Printers Projected Growth Rate (2022 to 2032)	7.4%

The sale of barcode printers has witnessed a rapid surge in recent years owing to their increasing utilization in the different industry verticals. The bard=code printers are used in multiple events and for personal identification. The wide popularity of e-commerce platforms like Amazon and Flipkart, coupled with eliminating human errors, is anticipated to further boost the demand for thermal barcode printers.

Several influential factors drive a holistic evaluation of the market. The expert analysts at FMI have revealed that industrial barcode printers are gaining rapid traction due to their wide usage for printing barcodes and product labels.

Their advanced approach over conventional means of printers is constructed in a way that enables faster printing speeds at lower costs. This also gives the manufacturers an upper hand in competing in the global barcode printers market. Therefore, it is anticipated that the market share for barcode printers is likely to have a significant upsurge in value during the forecast period.

A Contrast with the Historical Market Scenario

As per the analysis of FMI, the barcode printer market has witnessed a gradual rise in its market share and adoption across different industries. A surge from 5.6% CAGR in 2021 to a considerable CAGR of 7.4% in 2022 is witnessed.

The steady pace of the forum can be attributed to its wide-scale adoption in the manufacturing industry, transportation, healthcare, government, retail, and commercial services. It is identified that manufacturers across the globe are incorporating automation techniques and streamlining their manufacturing processes to reduce wastage and enhance output efficiency.

These elements are significantly fueling the adoption of barcodes, coupled with common uses on a large scale that includes labeling cartons before shipment and labeling retail items with unique product codes or international article numbers. Thus, the retail barcode printers market is expected to gain momentum further with rising needs from the commercial sectors.

Market-o-nomics - Highlighting the Key Trends

A number of influential factors have been identified to stir the soup in the barcode printer market. Besides the proliferating aspects prevailing in the market, the analysts at FMI have also analyzed the restraining elements, lucrative opportunities, and upcoming threats that can pose a challenge to the progression of the barcode printer market.

The drivers, restraints, opportunities, and threats (DROTs) identified are as follows:

DRIVERS

• Rising demand for mobile printers ranging from small-handled
• models to cart-mounted ones are driving the growth of the barcode printer market.
• The use of wireless network connection and technologies to receive print jobs, label formats, and other information from host systems to fuel market propulsion.
• The trend of the mobile sales workforce carrying out on-field transactions has augmented the demand for mobile printers.
• Improvement in global trade is also boosting the demand for barcode printers.

RESTRAINTS

• Stringent printing regulations that ensure there is the least impact on the environment are likely to hinder the advancement of the forum.
• The controlled use of chemicals in barcode printing is another factor negatively impacting the barcode printer market.

OPPORTUNITIES

• The growing use of RFID and barcode printers in the supply chain industry fuels growth.
• The efficient management of the supply chain deliverable goods is the key to successful business management, which in turn is exerting a positive influence on the barcode printers market.
• Reduction in the cost of poorly printed labels with the option of using barcode verifiers is another aspect opening doors to growth prospects for key players.

THREATS

• High heat settings of the barcode printers can lead to smudged bar lines and is a challenge likely to inhibit growth in coming years.
• Similarly, low heating lead to fading of bar lines, coupled with low compatibility of barcode printers with different operating systems is likely to pose a threat to the market during the projection period.

Category-wise Insights

Domineering Segments in Tandem with Demand from End-use Industries

Mobile Printers - By Product Type

This segment by type is projected to lead the global market through the forecast period. The analysts estimate at FMI that this segment is likely to record a CAGR of 10.2% in the projection period. Currently, this segment is accountable for a market valuation of USD 1,490.38 Million in 2022.

The rapid expansion of this segment is owing to:

• Rising usage in warehouse operations for labeling, tagging, and ticket stocks to generate shipping labels creates opportunities for barcode printer dealers.&
• The increasing need for improving organizational productivity is expected to propel the adoption of mobile printers further.
• With the growing trend of no PC workstations, mobile printers and barcode printers online are expected to be the solution to print from various locations.

Healthcare Industry - By End-use

This segment is anticipated to dominate the end-use category during the estimated period of study. The healthcare industry segment is projected to slate a CAGR of 8.2% from 2022 to 2032. There is the prominence of barcode printers in this sector and is gaining momentum owing to:

• Prominent trends in using barcode printers improve drug safety and diagnostics automation.
• Issuance of wristbands and tags that help in patient identification, specimen labeling, surgical procedures, medicine administration, and others is expected to be the reason behind the dominance of the healthcare sector.

Other Prominent Segments	Thermal Transfer Segment
Category	By Printing Technology
Statistics	A market share of 62% was recorded in the base year.

Other Prominent Segments	Industrial Barcode Printer
Category	By Printer Type
Statistics	Market Share of 46.1% in 2021. CAGR of 8.3% through 2032.

Regional Outlook

Growth Prospect of Barcode Printers in North America and Europe

Region	North America
Statistics	The market share of barcode printers in North America has increased by 6.6% in recent years. Dominating Country: USA The retail sales of barcode printers in the USA increased by 13.1% in 2021. The North American region is anticipated to account for a total of 35.3% market share through 2032.
Responsible Factors	The factors fueling the market size of barcode printers in this region are: Major investments in the advancement of the technology for barcode printers. The growing end-use industries provide massive opportunities for vendors to invest in the regional market. The surge in the number of online shoppers and massive growth of the e-commerce industry is identified to bolster the market growth in North American regions.

Region	Europe
Statistics	Europe is anticipated to follow North America and have a steady pace of growth through 2032. Dominating Country: Canada This region accounted for 27 million e-commerce users in the base year which is nearly 72.5% of the total Canadian population.
Responsible Factors	The responsible factors boosting growth of barcode market in Europe are: The rising number of e-commerce platforms and the presence of prominent players in the region is likely to fuel growth. Increased investments by MNCs in retail and industrial infrastructure is another key propellent of the market.

Start-up Ecosystem

New Entrants to Stir up the Market Dynamics for Barcode Printers

The startups in the barcode printer market are adding a new edge to the specifications of barcode printers by curating innovations beyond the imagination.

They are continually upgrading the printers with the advanced technology of thermal heating and more. The products are further upgraded for ease of operation and add unique perks that further trigger the expansion of the global barcode printer market.

Top Printing Start-ups to Watch For

Fracktal Works is a manufacturer of desktop 3D printers. Its 3D printer named 'Julia' has features and specifications that include zero warping, SD card printing, E3D full-metal hot end, easy bed leveling, and easy plastic loading, along with compatibility for multiple types of filaments. ;

The platform also enables users to submit their 3D print design online and get it printed. Currently incubated under MUTBI, Manipal, and has a Research and Development (R&D) workstation housed in the Innovation Center, Manipal Institute of Technology. Larsen & Toubro is a client.

Fabheads Aurroation is a manufacturer of industrial 3D and barcode printers for composite fiber additive manufacturing. It designs and develops a CNC machine with combined 3D printing and automated fiber placement technologies. Claims to be compatible with carbon, Kevlar, and glass fibers and support curvilinear and sandwich structures.

Prynt makes a small mobile printer that connects to your phone and has just released its newest device, called the Prynt Pocket. The device puts a renewed focus on the company’s AR play, which essentially makes each printed photo a Harry Potter-style moving image.

Competitive Landscape

Take of Key Players on Revolutionizing the Barcode Printers Market

The key players proliferating in the forum are focusing on introducing new products and enhancing their product offerings to better cater to the changing needs of the end-user industries while retaining their competitiveness globally.

There is keen attention paid by the market players to the maintenance of the quality of products and innovation. They are also trying to diversify its range of manufacturing by producing products of various types like desktop barcode printer, mobile barcode printers, and more to increase its market share.

Recent Developments

• In December 2016, the Canadian Food Inspection Agency made amendments to nutrition labeling, which mandated the regulated parties to meet the new labeling requirements within a five-year transition period, during which they must comply with either the former or the new requirements. Such regulatory initiatives are expected to increase the use of barcodes and labels in consumer-packaged foods over the coming years.
• In December 2021, myBillBook, the Bengaluru-based fintech FloBiz announced the launch of its Point-of-Sale Billing solution for retailers and franchises. The retail industry accounts for 10% of India's GDP. Keeping this industry's scale and specific needs in mind, the solution has been designed to provide a faster billing experience using keyboard shortcuts and barcode scanning.
• In July 2021, International Security Printers (ISP) invested in advanced hybrid printing, finishing, and inspection systems to further the development of barcoding postage stamps. The investments are diversified toward enabling postal authorities to add distinctive color-coded barcodes to stamps, placed along the stamp and separated by a perforation line.
• In December 2021, Honeywell launched its IMPACT series of barcode printers under the Make in India initiative. The four-inch desktop barcode printer is built for light-duty label printing requirements, and it supports thermal transfer/direct thermal printing, thereby enabling printing at 127mm/sec. IMPACT by Honeywell is a brand established specifically to cater to the growing mid-segment market in India.
• In March 2021, Brother Mobile Solutions announced the expansion of the Brother Titan Industrial Printer series with five enhanced four-inch industrial barcode label printers featuring internal rewinders for an increased use range. Built with metal, the portfolio includes an increased ribbon capacity, dual Wi-Fi/Bluetooth option, and PLC integration. The augmented range delivers clear barcode labels up to 600 dpi1 at speeds nearing 14 ips2.

Some of the key companies proliferating in the market are

• Zebra Technologies
• Toshiba Tec
• Avery Dennison
• Honeywell Scanning & Mobility
• SATO Holdings Corporation
• Oki Electric Industry Co., Ltd.
• Printek Inc.
• Printronix
• Dascom

Key Segments in the Barcode Printers Market

By Printer Type:

• Desktop Barcode Printer
• Industrial Barcode Printer
• Mobile Barcode Printer
• Others

By Printing Technology:

• Thermal Transfer
• Direct Thermal
• Dot Matrix
• Laser
• Ink Jet

By Consumables:

• Ribbons
• Wax Ribbons
• Wax/Resin Ribbons
• Resin Ribbons
• Labels

By Application:

• Industrial/Manufacturing
• Transportation/Logistics
• Retail
• Healthcare
• Government
• Commercial Services

By Region:

• North America
• Latin America
• Asia Pacific
• Middle East and Africa (MEA)
• Europe

Frequently Asked Questions

What is the Growth Outlook for the Barcode Printers Market?

The growth outlook for the barcode printers market is predicted to advance at a CAGR of 7.4% from 2022 to 2032.

Which Region Leads the Barcode Printers Market?

The North American region is anticipated to lead the barcode printers market during the forecast period.

What is the market valuation of the Barcode Printers Market in 2022?

The market valuation of the barcode printers market stands at USD 4,188.60 Million in 2022.

How much Growth Potential does Barcode Printers Market hold?

The barcode printers market is likely to hold a valuation of USD 8,552.87 Million by 2032.

Which sector is the key driver in the Barcode Printers Market?

The healthcare sector is the key driver in the barcode printers market.