Barcode Printers Market expected to grow at a substantial rate from 2018 to 2024
Date: 2018-08-08   Author: Ronak Bora  Category: #market

Barcode Printers Market expected to grow at a substantial rate from 2018 to 2024

In the barcode printers market, mobile barcode printer is expected to witness growth from 2018 to 2024. These systems facilitate high-speed printing solutions boosting their demand across various industry verticals. Moreover, the advancements in the technology have resulted in a consistent demand for the wireless barcode printers. These devices have enabled the consumers to effortlessly connect their devices using Wi-Fi, Bluetooth, and NFC technologies, eliminating the requirement of wires, further contributing to the industry growth.

Global Barcode Printers Market set to reach USD 3.5 billion by 2024. The rising demand for e-commerce across the globe is anticipated to propel the barcode printers market growth over the forecast timeline. The increasing number of online buyers across various regions can be credited to the rising number of warehouse companies and distributors, followed by the availability of improvised logistic providers ensuring a fast and safe delivery of the items purchased online. Additionally, the barcode devices are relatively cost-effective as compared to conventional labeling machines, which proves to be a major growth driver for the market.

The latest technological advancements in the barcode technology for the healthcare domain are among the key factors driving the barcode printers market growth. For instance, Z-band anti-microbial wristbands that possess anti-microbial coating and durable barcodes printed out using a thermal printer can withstand wear and tear. Initiatives such as mandatory barcode labeling for few medications by the Food and Drug Administration (FDA) further contributes to the industry growth.

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The rising demand for modern and advanced retail stores across the word is anticipated to boost the barcode printers market growth. Rapid urbanization trends coupled with rising disposable incomes have led to an increasing number of people adopting digitalization. Companies across the world are pressing on launching new products and collaborating with other companies to offer new solutions in barcode printing, thereby driving the industry demand.

The growing popularity of RFID labels that offer several advantages over barcodes is posing to be a major threat to the barcode printers market. Barcode technology requires a person to scan each item individually whereas RFID scans multiple items at once, offering a higher throughput, thus making it a preferred choice.

Stable economic conditions in European regions including Germany, Austria, and the UK have resulted in the barcode printers market growth. Several logistics service providers in Europe are trying to enhance their businesses with the use of devices for labeling and faster throughput. Furthermore, the growing manufacturing sector in China and India and the rising retail and pharmaceutical exports are expected to propel the industry demand.

Players in the barcode printers market are Seiko Epson Corporation, Avery Deninson, Zebra Technologies, and Sato Holdings Corporation. The players are looking to expand their market reach by entering into mergers & acquisitions. For instance, in March 2015, Honeywell announced the acquisition of Datamax-O'Neil to expand its barcode printing portfolio.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for AlgosOnline and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport.


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