Market Size Forecasters adds a new report Barcode Printers Market Research Report for the period of 2015-2022 that shows the growth of the market is rising at a Steady CAGR to 2022.
Global Barcode Printers Market size is expected to reach USD 4.51 billion by 2022; as per a new research report.
Thermal technology will continue dominating revenue prospects in the coming years. Direct thermal barcode printers market share is set to grow with 9.7% CAGR estimations from 2015 to 2022.
Lower number of moving parts, high speed, and more durable images are forecast to positively impact demand across the sector.
Thermal transfer barcode printers market size is poised to exceed USD 1.7 billion by 2022, making it the largest technology segment in the industry.
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Growing need for tracking in the healthcare sector is projected to be a key growth driver. Major benefits include access to reliable and accurate patient information along with other activities such as specimen collection, surgical procedure, point-of-care medication administration,.
Barcode printers market share in these applications is estimated to witness growth and surpass USD 800 million by 2022. Other use cases include personal identification such as barcode wristbands that help in authentication for sporting events among other activities.
Product and shelf labeling, POS terminals market growth and mobile checkout options will drive the retail sector at 10.2% CAGR from 2015 to 2022. Portable devices have been gaining traction across organizations for helping issue invoices and conduct business more efficiently, regardless of the location.
Rising popularity of RFID technology, since it does not require line-of-sight and contains a memory module, will pose a strong threat of substitution. The implanted circuitry also facilitates additional functionality such as pressure, humidity, and temperature monitoring.
Asset tracking helps companies identify and control inventory levels and has witnessed growing adoption, which will further propel RFID demand.
Key insights from the report include:
Industrial barcode printers market size will continue leading revenue, with revenue expected to exceed USD 2.8 billion by 2022.
Laser, impact, and inkjet technologies are forecast to grow slower than the global average in the coming years. This can mainly be attributed to considerable growth prospects across thermal products, which are characterized by the capability to perform in mission critical applications, accompanied by superior image durability.
Increasing demand from short-shelf life applications such as receipts as well as shipping labels will also spur growth.
Manufacturing applications represent a sizable application area, and accounted for more than 35% of the barcode printers market share in 2014. These products are widely used to label carto
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Asia Pacific barcode printers market size will grow at the fastest rate from 2015 to 2022, mainly on account of growing demand across end-use areas.
Major players are Zebra Corporation, Canon Inc., HP, and Honeywell. Growing number of mergers and acquisitions will lead to consolidation over the long term.
Global Market Insights has segmented the barcode printers market on the basis of technology, product, application, and region:
Barcode Printers Application Analysis (Revenue, USD Million, 2012 ? 2022)
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