BARCODE PRINTER MARKET ANALYSIS

Barcode Printer Market Size and Trends

The barcode printer market is estimated to be valued at USD 4.52 Billion in 2024 and is expected to reach USD 7.12 Billion by 2031, growing at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.

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The barcode printer market is expected to witness high growth owing to the rising adoption of barcode scanners across several industries including retail, manufacturing, and e-commerce. With automation becoming increasingly popular, the demand for barcode printers is growing significantly. They help in inventory management, supply chain automation, and tracking of goods throughout the product lifecycle. Additionally, ongoing technological advancements in printer features such as wifi connectivity, mobility, and interface compatibility with multiple operating systems are expanding the potential of barcode printers beyond traditional point-of-sale uses. Faster printing capabilities and lower maintenance needs are further driving their uptake among small businesses and warehouses.

Barcode Usage in Manufacturing and Logistics

The barcode printer market is steadily being driven by the widespread adoption of barcode technology in the manufacturing and logistics industries. Barcodes have become an essential part of the supply chain management process, being used at each step to accurately track materials, components, and finished goods. Their scanning allows real-time visibility into inventory levels and product movements. This enables just-in-time manufacturing and reduces risks of over- or under-stocking. With global supply chains now the norm, the ability to scan barcodes on arrival and dispatch of shipments is critical to maintaining efficiency.

For instance, in November 2023, SATO Corporation which is a provider of auto-ID solutions, in collaboration with Mitsubishi Electric Corporation which is an electronics and electrical equipment manufacturing company, introduced sample programs for Mitsubishi Electric MELSEC sequencers. These programs aim to automate label printing by sending commands to SATO label printers at specific events in the production line.

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The exponential growth of the e-commerce industry is a major factor propelling the barcode printer market. Almost all warehousing and fulfilment processes for online retail depend on the accurate scanning of shipping labels, packages, and pallets. This allows sorting packages destined for different locations, prioritizing urgent orders, managing inventory spread across multiple sites, and automating shipping notifications. Efficient e-fulfilment which relies on uniform barcode standards that ensure seamless data exchange between retailers, carriers and customers.

For instance, as per the 2021 data from the U.S. Census Bureau, the e-commerce sector is experiencing notable growth. Retail sales in the U.S. saw a significant increase of 17.1%, reaching a total of USD 6,522.6 billion in 2021. This growth is further driven by the substantial presence of Small and Medium-sized Enterprises (SMEs) in the North America region. These SMEs provide essential components and services to major players like Zebra Technologies Corp., Honeywell International Inc., and SATO Holdings Corporation, contributing to the overall expansion of the market.