Product Innovation to Boost the Global Barcode Label Printer Market | Technavio

The latest market research report by Technavio on the global barcode label printer market predicts a CAGR of more than 8% during the period 2017-2021.

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The report segments the global barcode label printer market by product (industrial printers, desktop printers, and mobile printers), by application (manufacturing, transportation and logistics, retail, and healthcare), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Here are some key findings of the global barcode label printer market, according to Technavio healthcare and life sciences researchers:

• Premiumization through product innovation: a major market driver
• In 2016, the industrial printers segment dominated the market by occupying almost 60% share
• The Americas dominated the global barcode label printer market with more than 39% share in 2016
• Avery Dennison, Honeywell International, TOSHIBA TEC, and Zebra Technologies are the leading players in the market

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Premiumization through product innovation: a major market driver

Premiumization through product innovation is one of the major factors driving the global barcode label printer market. The need for automatic item identification is predominant across all sectors, making barcodes a timeless labeling necessity. Barcode printing is gaining traction across various sectors. The vendors of barcode printers are extending their product lines and expanding their production capacities to meet the growing demands of end-users. They are also focusing on adopting new data collection technologies that can be incorporated into their existing product lines. For instance, Zebra Technologies offers ZT600 Series industrial printers that combine rugged durability and exceptional performance on a user-friendly and future-ready platform.

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Americas: largest barcode label printer market

Technavio researchers anticipate high growth for the global barcode label printer market in the Americas due to the increasing mobile workforce and rising demand for on-the-go printing. The adoption of barcode label printers is growing in the retail, healthcare, transportation and logistics, and manufacturing industries. Zebra Technologies and Honeywell International are some of the leading vendors based in this region.

According to Shikha Kaushik, a lead analyst at Technavio for research on retail systems, "There has been an increase in the trend of direct store delivery in the US, where barcode printers such as mobile printers are most efficient for route accounting. Vendors are expecting significant sales from Brazil, Peru, and Colombia in the future."

Competitive vendor landscape

The global barcode label printer market is highly competitive with the presence of multinational and small companies. Intense competition among vendors and rapid technological changes characterize the market. The market has witnessed the acquisition of smaller entities by bigger entities. The competition in the industry is becoming intense and is characterized by the improving standards, significantly changing smart technologies, and evolving end-user requirements.

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