Meticulous Research®—a leading global market research company, published a research report titled ‘Barcode Printers Market—Global Opportunity Analysis and Industry Forecast (2024-2031)’. According to this latest publication from Meticulous Research®, the barcode printers market is expected to reach $3.7 billion by 2031, at a CAGR of 7.6% from 2024 to 2031.
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The barcode printers market is witnessing significant growth, fueled by government initiatives that encourage the use of biometric technologies and the increasing deployment of automatic data capture and identification systems. However, the market's expansion is being restrained by high costs and limited awareness of barcode printers, particularly in developing countries.
With the rising demand for industrial barcode printers and continuous advancements in printing technology, market opportunities are expanding. Nevertheless, the shift in consumer preferences towards mobile solutions presents a considerable challenge to growth.
Key Players
The market for barcode printers is moderately competitive, featuring a mix of global, regional, and local companies. Key players include Avery Dennison Corporation (U.S.), Canon Inc. (Japan), Dascom (Hong Kong), Honeywell International Inc. (U.S.), Oki Electric Industry Co., Ltd. (Japan), SATO Holdings Corporation (Japan), Zebra Technologies Corp. (U.S.), Toshiba Tec Corporation (Japan), Postek Electronics Co., Ltd. (China), Brother Industries, Ltd. (Japan), Epson (Japan), DYMO, Inc. (U.S.), Primera Technology (U.S.), TSC Auto ID Technology Co., Ltd. (Taiwan), and MUNBYN (U.S.).
The market is segmented by offering, type, distribution channel, and end-use industry, along with regional and country-level competitor evaluations.
Market Segmentation
- Offering: The laser printer segment is expected to lead the market in 2024 due to their capacity to produce high-resolution, scalable barcodes quickly while ensuring readability.
- Type: Desktop printers are projected to dominate, known for their compact size, lower initial costs, and suitability for small to medium-volume label printing in offices. They are also widely used in the retail sector for inventory management.
- Distribution Channel: The online segment is expected to be the leading distribution channel in 2024, supported by the convenience of e-commerce, which allows customers to compare various products easily.
- End-use Industry: The retail and e-commerce sector is anticipated to dominate the market, driven by the need for better inventory management, reduced errors, improved stock tracking, and enhanced customer experience.
Regional Insights
This research report covers major regions, including North America (U.S., copyright), Europe (Germany, U.K., France, Italy, Spain, Sweden, Denmark, Rest of Europe), Asia-Pacific (Japan, China, India, South Korea, Singapore, Malaysia, Australia & New Zealand, Rest of Asia-Pacific), Latin America (Brazil, Mexico, Rest of Latin America), and the Middle East & Africa (UAE, Israel, Rest of Middle East & Africa).
Asia-Pacific is forecasted to capture the largest share of the barcode printers market in 2024, exceeding 45%. This dominance is driven by the widespread adoption of automatic data capture technologies, increased industrial automation investments, rapid growth in retail and e-commerce, and urbanization trends prompting businesses to improve operational efficiency and enhance customer experiences.
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