The “Global Barcode Printers Market, by Printer Type (Desktop Printer, Industrial Printer, Mobile Printer, Others), by Printing Technology (Thermal Transfer, Direct Thermal, Dot Matrix, Laser, Ink Jet), by Application (Industrial/Manufacturing, Transportation/Logistics, Retail, Healthcare, Government, Commercial Services) by Distribution Channel (Direct to end user, Direct to OEM, Dealer/Distributor, System Integrators), by Consumables (Ribbons [Wax/Resin Ribbons, Resin Ribbons, Wax Ribbons] and Labels) and by Geography (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Forecast to 2027”, is expected to be valued at US$ 6,057.1 million by 2027, witnessing a CAGR of 7.4% during the forecast period (2019-2027), as highlighted in a report published by . Market Overview A barcode printer is an electronic device is manufactured for printing barcodes. Barcode printers are slightly different from computer printers as it uses labels and ribbons in tandem to get barcode printed. Generally, barcode printers do not have programmable logic controllers though they rely on external computer system. On the basis of printing technology, the global barcode printers market is segmented into direct thermal, thermal transfer, laser, dot matrix, and inkjet. Of these, thermal transfer is most preferred method as other methods are on the blink of phasing out. It finds major applications in different industries including healthcare, retail, logistics, and commercial services. The global barcode printers market was accounted for US$ 3,122.4 Mn in terms of value in 2018 and is anticipated to grow with a CAGR of 7.4% from 2019 to 2027. Market Driver Significant growth of retail sector worldwide is expected to drive growth of the global barcode printers market during the forecast period. Barcodes are extensively used in retail industry to tag products where it can store key information such as manufacturing date, price, where it was manufactured, batch number, and more. Moreover, it is typically used in inventory and warehouses where keeping the record of all the items is necessary. This can help retailers to keep the record of their products and inventory on shops and warehouses. This, in turn, is expected to drive the market growth in the near future. For instance, various retail shops and supermarkets such as Walmart, IKEA, Costco, and Carrefour have adopted barcodes for their all products. Market Opportunity Growing adoption of barcode printers in healthcare industry for various applications is expected to offer lucrative business opportunities for market players Barcodes have been widely used in healthcare industry for numerous purposes including surgical procedures, patient identification, specimen labeling, tracking devices, etc. Moreover, it is used in point of care (POC) medicine administration. Thus, growing adoption of barcodes in healthcare industry is expected to pose excellent growth opportunities for market players. Market Restraints Increasing adoption of RFID is expected to restrain the global barcode printers market growth over the forecast period Radiofrequency identification (RFID) labeling is new substitute available in the market, which more versatile and efficient than barcode tags. RFID can store information and can be fetched via a radio scanner that does not require straight line of sight as it is required for scanners. Such tags are used in hospitals and theme parks. Moreover, new information can be added to RFID tags, which is not possible in the case of barcodes. Thus, growing use of RFID tags are expected to hinder the global barcode printers market growth in the near future. Key Takeaways:
Apart from retail and manufacturing sectors, barcodes are extensively used in various industries. For instance, barcodes are used to tag and record lumber wood. When a tree is chopped and transformed into lumber, barcodes are used as tags to record them in computers. This has helped to reduce the thievery of lumber woods and also reduced illegal use of lumbers in manufacturing sector. For instance, Liberia became the first country to adopt this technique on a nationwide scale, which in turn, has increased the demand for barcode printers.
Supply chain plays a crucial role in the market a streamlined distribution channel effectively combines with production output of the manufacturing company and supply capacity through product sales. If the supply chain is flawed, it can lead to product brokerage, manufacturing losses, inventory outflow, and reduction in market share. Thus, key players in the market depend on collaborative agreements and partnerships that can deliver their products on time. For instance, Printronix, Inc. and Bluestar, Inc. have alliance to provide rapid distribution of barcode printers. Regulations
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