April 20, 2024

The Growing Barcode Printer Market is in Trends by Increased Automation

Barcode printers are devices that print barcode labels or tags that can be attached to products or packaging. They are used in industries like manufacturing, logistics, transportation and retail for tracking inventory and improving supply chain efficiency. Barcode printers can print one-dimensional (1D) barcodes like UPC and EAN and 2D matrix codes like QR codes. Thermal barcode printers are commonly used as they do not require impact ribbons or ink cartridges and print directly on heat-sensitive labels or tags.

The Global Barcode Printer Market is estimated to be valued at US$ 3,900 Mn in 2024 and is expected to exhibit a CAGR of 8.1% over the forecast period 2023 to 2030.

Key Takeaways

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 growing demand for automation across various end-use industries like retail, healthcare and manufacturing is fueling the barcode printer market. With increasing global trade and e-commerce, companies are expanding their operations globally which is driving the adoption of barcode printing solutions for effective inventory management and supply chain logistics.

Market Key Trends

The barcode printer market is seeing increased trends of product innovations. Manufacturers are focusing on developing portable and compact printers to enable mobile barcode printing applications. Another key trend is the integration of advanced technologies like IoT and cloud connectivity in barcode printers. This allows real-time printing, tracking and analytics capabilities. Connected barcode printers also enable remote monitoring and management. The incorporation of technologies like RFID is also opening up new opportunities for barcode printers to support advanced applications beyond basic labeling and tagging.

Porter’s Analysis

Threat of new entrants: The barcode printer industry requires large capital investments and well-established distribution channels which pose barriers for new companies.

Bargaining power of buyers: Buyers have moderate bargaining power given the availability of different brands in the market and price sensitivity of products.

Bargaining power of suppliers: A few large companies dominate the supply of barcode printers globally giving them significant bargaining power over manufacturers.

Threat of new substitutes: While virtual scanning solutions continue to emerge, barcode systems remain integral for retail and logistics operations with no perfect substitute available yet.

Competitive rivalry: The market comprises a few large players and several small niche brands offering differentiated products. Competition remains high around pricing, product innovation and service.

Geographical Regions

North America currently holds the largest share of the barcode printer market value owing to strong demand from retail and e-commerce sectors in US and Canada. Asia Pacific region is expected to witness highest growth led by China, India and Southeast Asia. Growing industrialization, retail infrastructure and adoption of barcode systems across supply chains will drive demand in the developing economies.

Europe follows North America in terms of barcode printer market value currently. However, Middle East and Africa region is projected to offer most lucrative opportunities over the forecast period with initiatives to modernize logistics and trade networks.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it