Barcode Printer Market is expected to reach a whopping USD 3 billion by 2024, says Global Market Insights in its new research finding.
Barcode printers are widely used to print labels to be pasted on retail cartons and items with European Article Numbers (EANs), Universal Product Codes (UPCs) or Harmonized System of Nomenclature (HSN) codes before shipment. Barcode printers are also widely used to print retail payment receipts, coupons, tickets, item list, etc.
Over the coming years, the report says that due to overwhelming usage of barcodes in the organized retail businesses for product identification, inventory and point of sale (POS) purposes, is likely to drive the barcode printers market.
The dominant mobile technology has boosted the growth of barcode printers as they are being extensively used as mobile POS terminals by sale workforce to carry out various warehouse applications. Due to improvement in technology, mobile barcode printers are made which can be wirelessly connected to the network instantly to print receipts.
Due to convenience, elegance and dependability, there has been a huge demand for barcode wristbands which are widely adopted by health care industry for patient identification and safe usage of samples. This too has impacted positively the growth of barcode printer market.
The most important usage of barcodes in hospitals and other health centres is its inherent feature to verify/identify patients with appropriate treatment. Due to this critical usage, healthcare officials can get access to right and consistent patient details instantly and hence point-of-care drug administration, surgical procedure and sample collection can be achieved successfully.
Moreover, barcodes help to achieve speedy and accurate data entry which reduces medical errors thereby pushing hospitals to automate several time-consuming and tedious manual processes.
Mobile receipt printers have seen a revolution of sort with more and more manufacturers coming up with unique designs with loads of features. These printers are increasingly used by field workers such as collection agents and sales workforce to print receipts, tickets or labels instantly in any environment. These portable devices can be connected with smart devices and computers through USB, Wi-Fi or Bluetooth and can hence boost accuracy, productivity and efficiency in several retail and non-retail applications.
The huge demand for barcode wristbands in healthcare industry and mobile solutions is expected to increase the mobile barcode printer market growth in the coming years.
The report pointed out that impact, Ink-jet and laser printers will see their growth slow down as compared to thermal printers in the coming five years. This slow growth can be attributed to huge demand for thermal barcode printers, which can provide various critical applications and better image output.
Since long-life labels are required by retail businesses to be pasted on products or boxes carrying merchandises, traders prefer thermal transfer technology instead of direct thermal technology, which can be used for printing payment receipts, item list, invoices, short-shelf life labels etc.