The global Barcode Printer Market is estimated to be valued at US$ 3,900 Mn 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.
Barcode printers are used to print barcodes on multiple surfaces. They offer advantages like high-speed printing, durability, and accuracy in scanning. Barcodes help in inventory management, logistics tracking, and other purposes.
Market key trends:
The growing e-commerce industry is driving the demand for barcode printers. Online retailers widely use barcodes for inventory management, parcel tracking, and other processes. Also, the adoption of automated warehouse management solutions utilizing barcode scanning is increasing. This is contributing to reduced costs and improved efficiency. Furthermore, the integration of advanced technologies like IoT and analytics is allowing barcode printers to generate more actionable insights, enhancing various supply chain operations.
Strength: Barcode printers provide businesses with improved accuracy and efficiency in various operations such as logistics, tracking inventory levels, employee time keeping etc. They help reduce human errors and improve productivity.
Weakness: Barcode printers require significant upfront investment and maintenance costs which can be a burden for small businesses and startups. They also have technical complexities and require trained professionals for support and troubleshooting.
Opportunity: Growing e-commerce industry and focus on supply chain visibility is driving the demand for automated identification and data capture solutions. Increasing adoption of Industry 4.0 technologies also provides growth opportunities for barcode printers market.
Threats: Open-source barcode scanner applications can be a threat as they provide basic functionality at free or low costs. Presence of alternatives like RFID tags is also a challenge for barcode printers market.
The global Barcode Printer market is expected to witness high growth, exhibiting CAGR of 8.1% over the forecast period, due to increasing focus on supply chain management and automation across industries.
Regional analysis: North America dominates the global barcode printer market currently. However, Asia Pacific region is expected to witness fastest growth during the forecast period supported by growing e-commerce industry in countries like China and India.
Key players operating in the Barcode Printer market are 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.. The key players are focused on developing advanced technologies to stay competitive in the market. For instance, Zebra Technologies has introduced mobile, desktop and industrial barcode printers with various connectivity options.