Global Barcode Printers Market Outlook | Growth & Demand Analysis, 2016-2024
According to Goldstein Research, “Growing need for asset tracking and to access reliable and accurate information about the products are bolstering the demand for barcodes, thereby driving the growth of barcode printers market all across the globe. Increasing usage of barcode wristbands for personal identification of patients and are also used in various sporting events, these recent changes are gaining huge customer interest which is likely to accelerate the growth of global barcode printers market in the upcoming 4-5 years. Global barcode printer market segmentation has been carried out on the basis of product type, printing technology, printing resolution, connectivity and end-users. Printing technology segment is further bifurcated into dot matrix, laser printing, thermal transfer direct thermal and ink jet. Barcode printers based on thermal technology accounted for the largest share of global barcode printers in 2016. Thermal technology based barcode printers valued USD 1.8 billion in 2016. High speed, easy cleaning, low operational costs and reliability of thermal barcode printers are boosting the demand over other barcode printers during the forecast period. In 2016, Asia Pacific market captured nearly 18% revenue share of global barcode printing market. Furthermore, Asia Pacific barcode printers market is anticipated to reach USD 1.13 Billion by 2024. Rising adoption of barcode printers in various end use industry along with the ease of tracking product is boosting the growth of barcode printers market all across the globe.
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