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Jul 24, 2023

Barcode Printers Market Projected to Reach $13,510.6 Million, Globally, By 2032 at 13.7% CAGR: Allied Market Research

News provided by 18 Aug, 2023, 11:13 ET Share this article The rising demand for mobile printers and the growing adoption of barcode printers in the manufacturing industry are anticipated to drive the

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18 Aug, 2023, 11:13 ET

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The rising demand for mobile printers and the growing adoption of barcode printers in the manufacturing industry are anticipated to drive the growth of the global barcode printers market during the forecast period from 2023 to 2032. The North America region is predicted to hold the majority of market share by 2032.

PORTLAND, Ore., Aug. 18, 2023 /PRNewswire/ -- Allied Market Research has recently published a report, titled, "Barcode Printers Market By Product Type (Desktop Printer, Mobile Printer, and Industrial Printer), Printing Type (Thermal Transfer, Direct Thermal, and Others), and End-User Industry (Manufacturing, Retail, Transportation and Logistics, Healthcare, and Other): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global barcode printers market generated $3,758.6 million in 2022, and is anticipated to generate $13,510.6 million by 2032, witnessing a CAGR of 13.7% from 2023 to 2032.

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Prime Determinants of Growth

The rising demand for mobile printers, the growing demand for industrial printers across numerous industrial sectors, and the rising usage of barcode printers for streamlining logistics processes are the major factors predicted to drive the growth of the global barcode printers market in the forecast timeframe. However, the high costs associated with barcode printers and the strict regulations in the printing industry may hamper the barcode printers market growth in the coming period. On the contrary, the integration of advanced connectivity & wireless technologies and the growing usage of electronic shelf labels & smart label printers provides are expected to offer growth opportunities for expansion of the barcode printers market in the 2023-2032 forecast period.

Report Coverage and Details:

Restraints

Report Coverage

Details

Forecast Period

2023–2032

Base Year

2022

Market Size in 2022

$3,758.6 million

Market Size in 2032

$13,510.6 million

CAGR

13.7 %

No. of Pages in Report

309

Segments Covered

Product Type, Printer Type, End-User, and Region

Drivers

Growing adoption of barcodes in manufacturing industry

Rise in demand for wireless mobile printers

Opportunities

Incorporation of computer systems with barcode printers

Increasing focus of key market players on producing barcode printers with advanced features

Restraints

High initial investment cost

COVID-19 Scenario:

Industrial Printer Sub-segment to be Highly Dominant During the Forecast Period

The industrial printer sub-segment accounted for the major share of 48.5% in the barcode printers market in 2022 and is expected to continue to maintain its dominance during the forecast period. The dominant growth of the sub-segment is mainly because industrial printers are long-lasting and high-quality computer printers used to print barcodes onto tags, labels, packages, and others. Besides, the growing usage of industrial printers in various sectors, such as warehouses, retail stores, and manufacturing factories, as they are tough and dependable is driving the sub-segment's growth.

Thermal Transfer Sub-segment to Hold the Majority of Market Share by 2032

The thermal transfer sub-segment accounted for the highest market share of 40.7% in 2022 and is expected to witness significant growth during the forecast period. This is mainly owing to the adaptability, dependability, and capacity of thermal transfer printers to create highly legible barcodes in difficult conditions. In addition, these printers provide high-quality printing, are affordable, and majorly used in manufacturing, healthcare, and electronics sectors.

Manufacturing Sub-segment to Flourish Immensely During the Forecast Period

The manufacturing sub-segment accounted for the highest market share of 31.6% in 2022 and is predicted to continue to hold maximum share by 2032. The strong growth of the sub-segment can be attributed to the crucial role of barcode printers in the manufacturing industry in optimizing production processes, assuring accurate inventory management, and enhancing overall supply chain efficiency. Additionally, barcode printers are widely used in the manufacturing industry to create tags and labels that facilitate streamlined tracking as well as identification of equipment, materials, and products.

North America Market to Hold Majority of Market Share by 2032

The North America region accounted for the highest share of 40.0% in the global barcode printers market in 2022 and is expected to continue to maintain its dominance during the forecast period. This is mainly because North America has a well-developed infrastructure and heavily invests on R&D. The persistent growth of the retail & e-commerce industries, along with the rising preference of people for online shopping in the U.S. and Canada, are also anticipated to drive the demand for barcode printers across the region.

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Leading Players in the Barcode Printers Market:

The report provides a detailed analysis of the key players of the global barcode printers market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of barcode printers market players to showcase the competitive scenario.

Key Benefits For Stakeholders:

Barcode Printers Market Key Segments:

By Product Type:

By Printing Type:

By End-User Industry:

By Region:

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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