Europe barcode printer market is likely to garner appreciable return in the coming years. This growth can be primarily attributed to the rising deployment of these products to improve customer experience and visibility. The ability of these systems to enhance efficiency and lower costs incurred through errors in shipping, packing, and manual input enables companies to achieve high Return on Investment (ROI), thereby impelling the regional barcode printer industry share.
The global ongoing trade developments are anticipated to drive the barcode printer market growth over the forecast timeline. The growth can be attributed to the increasing number of shipments exported or imported, labeled & coded with barcodes for recording and storing the data associated with the goods and products. The barcode technology is being increasingly utilized in the retail sector where it has become a standard for labeling and storing the product’s data, allowing the staff to offer smooth services to the customers. The growth in the retail industry can be accredited to the rising disposable incomes, providing a boost to the e-commerce sector, positively driving the barcode printer market growth.
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Mobile barcode printer market is expected to witness a significant growth at over 9% CAGR over the forecast timeline. It can be attributed to the ease-of-usage offered by these printers in several field-based applications. The mobile barcode printers are gaining popularity across retail & warehousing applications to issue authentic invoices, printing e-citation & mobile receipts regardless of the time and place. They are ideal solutions for printing-on-the-go, creating high-quality receipts & labels in any environment, outdoors, or indoors.
Thermal based printers constituted of more than 65% of the overall barcode printer market share owing to the features such as low noise, high speed, reliability, and ease of cleaning. The direct thermal technology will witness significant growth over the coming years due to low operational costs, and improved durability. Direct thermal printers are ideal for applications such as printing receipts and shipping labels and can develop barcode images on the material without a ribbon, making it eco-friendlier.
This business fraternity is anticipated to witness intense competition among the major industry players such as Printonix Auto Id Inc., Epson America Inc., Toshiba Tec Corporation, Zebra Technologies, Honeywell Scanning and Mobility, Dascom, Printek, Seiko Epson Corporation and Godex International Co. Ltd., etc. In a bid to strengthen their positions across the vertical, companies have been highly vigilant as far as conducting robust collaborations and alliances is concerned, as enumerated by the partnership between the leading barcode printers’ producer, Epson America Inc. and the barcode labeling software manufacturer TEKLYNX International.
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As the adoption of lucrative growth tactics among market participants surges in the years ahead, barcode printer market trends are likely to undergo a major transformation. Having been pegged at a valuation of 3 million units in terms of shipments in 2017, barcode printer market has been forecast to register a CAGR of 5% over 2018-2024.