The global barcode printers market is expected to reach USD 3.81 billion by 2020, according to a new study by Grand View Research, Inc. Increased demand for mobile barcode printers is expected to drive market growth over the forecast period. Implementation of bar-coded wristbands for personal identification in hospitals and events has augmented the demand for mobile barcode printers.
Growth
of organized retail stores worldwide has significantly driven the barcode
printers market, as products equipped with barcode tags enable faster and more
efficient check-outs. Growing adoption of Radio Frequency Identification (RFID)
may pose a challenge to market growth over the next six years owing to the
numerous advantages offered by the technology, such as dynamic storage of
information which can be updated periodically.
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Further
key findings from the study suggest:
- Industrial printers
dominated the barcode printers market in 2013, accounting for over 60% of
the overall revenue share. Mobile printers are expected to witness high
growth over the forecast period owing to their ease of use and utility in
numerous field-based applications; they have been increasingly used by
organizations’ salespeople to conduct business and issue authentic
invoices and receipts irrespective of the time and place.
- Thermal technology-based
printers accounted for over 60% of the market share as compared to their
non-thermal counterparts, primarily because of their reliability, high
speed, low noise, and provision for easy cleaning. Among thermal
technology-based printers, the direct thermal technology is expected to
witness significant growth over the forecast period owing to enhanced
durability, low operational costs, and elimination of the need for
disposing of used ink ribbons, making it more eco-friendly.
- Manufacturing applications
led the market in 2013, accounting for over 35% of the overall revenue.
Retail and healthcare are expected to be lucrative fields for the barcode
printers market over the forecast period, with both projected to witness
high growth rates. In healthcare, barcode printers have been extensively
used for printing tags used in patient ID systems to prevent medical
errors by enabling access to accurate patient information for surgical
procedures and specimen collection.
- North America dominated the
market in 2013, accounting for over 40% of the overall revenue. Asia
Pacific is expected to witness a high growth rate over the forecast period.
- The market has become
increasingly consolidated owing to significant mergers and acquisitions to
achieve growth across several product categories, verticals, and regions;
for instance, Honeywell’s acquisition of Intermec and SATO’s acquisition
of Argox. Vendors have to deal with low-profit margins owing to the highly
commoditized nature of the market.
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Grand
View Research has segmented the global barcode printers market on the basis of
product, technology, end use, and region:
Barcode
Printers Product Outlook (USD Million, 2012 - 2020)
- Desktop
- Mobile
- Industrial
Barcode
Printers Technology Outlook (USD Million, 2012 - 2020)
- Thermal Transfer
- Direct Thermal
- Laser
- Impact
- Ink-Jet
Barcode
Printers End-Use Outlook (USD Million, 2012 - 2020)
- Healthcare
- Manufacturing
- Retail
- Shipping
- Government
Barcode
Printers Regional Outlook (USD Million, 2012 - 2020)
- North America
- EMEA
- Asia Pacific
- Latin America
About Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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