Barcode Label Printer Market

• The rising adoption of barcodes in manufacturing is driving market growth.

Although after the economic crisis of 2008 growth of the manufacturing sector has slowed down, it has continued to grow steadily at a slower pace. Several manufacturers worldwide are incorporating automation and streamlining the manufacturing process to reduce wastage and enhance output efficiency. This, in turn, adoption of barcodes has increased significantly, as each product or part in the assembly is assigned a barcode signed and recorded repeatedly at each workstation. As a result, this provides information on the progress of the product.

This, in turn, has reduced production time significantly in the manufacturing process, thereby driving the demand for barcode printers. For instance, various automotive manufacturing companies, including Hyundai, Ford, Volkswagen, Bajaj Auto, etc., use a quick response (QR) code, a specific matrix barcode, or a 2D code. It is readable by QR barcode readers or camera phones. This factor drives the Market CAGR in the forecast period.

Additionally, Barcode printers, also called specialty printers, print barcode tags, receipts, and labels to be directly printed on or attached to physical objects. They are generally used to label cartons and receipts and label retail, medical, and food items with European Article Numbers (EANs) or Universal Product Codes (UPCs) before shipment. Moreover, the increased adoption of radio frequency identification (RFID) which extends numerous advantages over barcodes, is expected to hinder the industry's growth. Aggressive investments by the government to encourage the industry incumbents to adopt the latest technologies, including barcode technology, bode well for market growth.

Barcode technology is increasingly used for robotics, which means the continued implementation of robots across various industries and industry verticals translates into a growing demand for barcode printers. For instance, as per the statistics provided by the International Federation of Robotics (FIR), almost 21,700 industrial robots have been deployed across the industrial sector in the U.K. Several manufacturing entities are adopting modern technologies to rake in various benefits, such as simplified workflows, reduced prices, and increased quality assurance, thereby driving the adoption of barcode printers across the globe.

The Global Barcode Label Printer Market Industry is experiencing a surge in demand driven by the need for efficient inventory management across various sectors. Retailers and manufacturers increasingly rely on barcode labeling to streamline their operations, reduce errors, and enhance productivity. As businesses seek to optimize their supply chains, the adoption of barcode label printers has become essential. In 2024, the market is projected to reach 3.5 USD Billion, reflecting the growing recognition of barcode technology as a critical component in inventory control. This trend is likely to continue, with the market expanding as more organizations recognize the benefits of accurate tracking and management.

By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American barcode label printer market will dominate this market due to well-developed infrastructure and spending a large amount on extensive research and development base, which makes the Region the top revenue contributor in the barcode printers industry during the projected period.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Barcode Label Printer Market SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe's Barcode Label Printer market accounts for the second-largest market share due to the unabated growth of the retail and e-commerce industries in line. The growing preference for online shopping will drive the demand for barcode printers. Further, the German Barcode Label Printer market held the largest market share, and the UK Barcode Label Printer market was the fastest-growing market in the European Region.

The Asia-Pacific Barcode Label Printer Market is expected to grow at the fastest CAGR from 2023 to 2032. This is because the Region is adopting modern printing technologies to rake in various benefits, such as simplified workflows, reduced prices, and increased quality assurance, thereby driving the adoption of barcode printers. Moreover, China’s Barcode Label Printer market held the largest market share, and the Indian Barcode Label Printer market was the fastest-growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development to expand their product lines, which will help the barcode label printer market grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The barcode label printer industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global Barcode Label Printer industry to benefit clients and increase the market sector. The Barcode Label Printer industry has offered some of the most significant advantages in recent years.

Major players in the Barcode Label Printer market, including Avery Dennison Corporation (US), Dascom Holdings Ltd (China), OKI Electric Industry Co., Ltd (Japan), Printronix Auto Id Inc. (US), TSC Auto Id Technology Co., Ltd (Taiwan), Apogee Industries Inc. (US), Sato Holdings Corporation (Japan), Honeywell International Inc. (US), Zebra Technologies Corporation (US), Toshiba Tec Corporation (Japan), Canon Inc. (Japan), and Fujitsu Ltd (Japan)., and others, are attempting to increase market demand by investing in research and development operations.

Honeywell International Inc. is a publicly traded American multinational conglomerate corporation headquartered in Charlotte, North Carolina. It primarily operates in four areas of business: aerospace, building technologies, performance materials and technologies, and safety and productivity solutions. Honey well launched its IMPACT series of barcode printers under the "Make in India" initiative. The four-inch desktop barcode printer is built for light-duty label printing requirements, and it supports thermal transfer/direct thermal printing, thereby enabling printing at 127mm/sec. IMPACT by Honeywell is a brand established specifically to cater to the growing mid-segment market in India.

Brother Mobile Solutions, Inc. is a division of the $7 billion multinational Brother Group, a brand known worldwide for quality and excellence, with leading-edge printing and labeling solutions and lifetime customer support. Brother Mobile Solutions announced expanding the Brother Titan Industrial Printer series with five enhanced four-inch industrial barcode label printers featuring internal rewinders for an increased use range. Built with metal, the portfolio includes an increased ribbon capacity, dual Wi-Fi/Bluetooth option, and PLC integration. The augmented range delivers clear barcode labels up to 600 dpi1 at speeds nearing 14 ips2.