Thursday, 14 July 2016

Retail Industry Growth to Drive Barcode Printers Market Demand

Industry Overview
Barcode Printers Market Size is projected to be evaluated at more than $4.6 billion by end of forecast timeframe registering a CAGR of about 8.7%. Retail sector growth along with rising demand for portable printers are key aspects fuelling the industry growth during forecast timeline.

Retail barcode printers market share was evaluated at more than $350 million for 2014 and is predicted to surpass $801 million by end of forecast timeframe. These equipments are widely used in applications like shelf labeling, price-tag printing, product labeling and point-of-sale. Many retail stores have started implementing mobile checkout concept where printers and handheld scanners help retail associates to print receipts, scan items and process payment in the store. All these factors are predicted to propel industry expansion during forecast timeframe.

EMEA barcode printers market size by application, 2012 - 2022 (USD Million)

Barcode printers are also used for automatic identification, personal identification and data collection. They are used by firms in various applications for enhancing output, improving consumer service and offering good security service to their customers.
But threat of a substitute product is anticipated to hinder industry growth in future.

Read full market research report “Barcode Printers Market Size By Technology (Laser, Ink-Jet, Impact, Direct Thermal, Thermal Transfer), By Product (Desktop, Mobile, Tabletop/Industrial), By Application (Retail, Manufacturing, Shipping, Government, Healthcare), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2015 – 2022”, please click on the link below: 

Application Trends
The industry is segmented into various applications like production and healthcare. Production was leading application segment and contributed about more than 35.1% of total industry share for 2014. The growth can be contributed to its high use in inventory labeling, tracking work in progress events and maintaining inventory control.

Healthcare segment was predicted to surpass $600 million by end of forecast period. This can be mainly credited to widespread use of barcode printers in patient id systems as well as patient tracking systems. It prevents medical errors by permitting access to reliable and concise patient data for sample collection, point-of-care medication administration, surgical methods and other patient care events.

Product Trends
Barcode printers market was segmented into different products like mobile printers and industrial barcode printers.

Mobile printers are utilized for printing tickets, receipts and labels. They are also utilized in many field based applications varying from purchase invoice to work order owing to its user friendly features, low maintenance price and low cost consumables. These printers are growingly installed by firms to help employees in their work.

Industrial barcode printers segment contributed more than 60.1% of the total revenue share of the industry for 2014 and predicted to retain its industry domination during forecast timeline. Factors contributing to the growth of the segment are its utilization in harsh environment and its use in high volume applications like warehouse labeling and order labeling.

Technology Trends
The industry is segmented into various technologies like direct thermal printing & impact printing.
Direct thermal printing develops picture on printing substance without ribbon and is useful in applications with short life cycle like labels and shipping receipts. It is predicted to be a high growth application segment with CAGR of more than 9.6% during forecast timeline.

Impact printing includes printing by dot matrix printers and drum printers. Dot matrix printer is used to create low density or medium density onsite barcodes through many dots printed in form of matrix.

Regional Trends
Global Industry is segmented into key geographical regions like North America, Europe, Asia Pacific, Latin America and MEA(Middle East & Africa).

North America contributed more than 30.1% to the total revenue share of the global barcode printers market for 2014 and is predicted to retain its industry domination in future. The growth can be credited to growing demand for barcode printers from U.S.

Asia Pacific is predicted to witness substantial industry expansion due to large scale capital investments by multinational companies in retail and industrial infrastructure. Further, heavy presence of manufacturing units in the region is also predicted to boost the demand during forecast timeframe.

Competitive Trends
Key industry participants profiled in the report include Honeywell Scanning & Mobility, Brother Mobile, Toshiba Tec, SATO Holdings Corporation, Dascom Holdings, Zebra Technologies, Canon Incorporation, Avery Dennison, Printronix, Avery Dennison, Oki Electric Industry Company Limited and Printek Incorporation.
These industry participants implement key business strategies like mergers & acquisitions and form strategic alliances or joint ventures with regional players in order to enhance their geographical presence, increase their product portfolio and grow their revenue share. 

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Information Source: Global Market Insights, Inc

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