Barcode Label Printer Global Market Opportunities and Strategies to 2033

This report describes and explains the barcode label printer market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global barcode label printer market reached a value of nearly $3.4 billion in 2023, having grown at a compound annual growth rate (CAGR) of 4.2% since 2018. The market is expected to grow from $3.4 billion in 2023 to $4.4 billion in 2028 at a rate of 5.8%. The market is then expected to grow at a CAGR of 6.5% from 2028 and reach $6.1 billion in 2033.

Growth in the historic period resulted from the retail industry growth, rise in counterfeit products, increased focus on smart manufacturing and focus on reliable digital labels. Factors that negatively affected growth in the historic period were data privacy issues.

Going forward, the e-commerce expansion, rising adoption of smart packaging and expansion of international trade will drive the growth. Factor that could hinder the growth of the barcode label printer market in the future include high cost of label printing.

The barcode label printer market is segmented by type into industrial printers, desktop printers and mobile printers. The industrial printers market was the largest segment of the barcode label printer market segmented by type, accounting for 66% or $2.2 billion of the total in 2023. Going forward, the desktop printers segment is expected to be the fastest growing segment in the barcode label printer market segmented by type, at a CAGR of 7.2% during 2023-2028.

The barcode label printer market is segmented by resolution into 300dpi, between 301 to 600dpi and above 600dpi. The between 301 to 600dpi market was the largest segment of the barcode label printer market segmented by resolution, accounting for 56.7% or $1.9 billion of the total in 2023. Going forward, the 300dpi segment is expected to be the fastest growing segment in the barcode label printer market segmented by resolution, at a CAGR of 6.6% during 2023-2028.

The barcode label printer market is segmented by technology into direct thermal, thermal transfer, ink jet, laser printing and dot matrix. The thermal transfer market was the largest segment of the barcode label printer market segmented by technology, accounting for 38.3% or $1.3 billion of the total in 2023. Going forward, the ink jet segment is expected to be the fastest growing segment in the barcode label printer market segmented by technology, at a CAGR of 7.5% during 2023-2028.

The barcode label printer market is segmented by end-user into manufacturing, retail, transportation and logistics, healthcare, government, entertainment and other end-users. The manufacturing market was the largest segment of the barcode label printer market segmented by end-user, accounting for 33.9% or $1.1 billion of the total in 2023. Going forward, the retail segment is expected to be the fastest growing segment in the barcode label printer market segmented by end-user, at a CAGR of 7.1% during 2023-2028.

North America was the largest region in the barcode label printer market, accounting for 32.2% or $1.1 billion of the total in 2023. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the barcode label printer market will be Asia Pacific and South America where growth will be at CAGRs of 7.2% and 5.9% respectively. These will be followed by Western Europe and North America where the markets are expected to grow at CAGRs of 5.8% and 5.4% respectively.

The global barcode label printer market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 18.1% of the total market in 2022. Honeywell International Inc was the largest competitor with a 2.8% share of the market, followed by Toshiba Tec Corporation (Japan) with 2.7%, Avery Dennison Corporation with 2.3%, Brother Industries Ltd with 2.1%, Zebra Technologies Corporation (US) with 1.8%, Canon Inc with 1.4%, Fujitsu Ltd with 1.3%, OKI Electric Industry Co Ltd with 1.3%, SATO Holdings Corporation with 1.2% and Datalogic SpA with 1.1%.

The top opportunities in the barcode label printer market segmented by type will arise in the industrial printers segment, which will gain $649.9million of global annual sales by 2028. The top opportunities in the barcode label printer market segmented by resolution will arise in the between 30 to 600dpi segment, which will gain $578.5 million of global annual sales by 2028. The top opportunities in the barcode label printer market segmented by technology will arise in the thermal transfer segment, which will gain $415.5 million of global annual sales by 2028. The top opportunities in the barcode label printer market segmented by end-user will arise in the manufacturing segment, which will gain $358.7 million of global annual sales by 2028. The barcode label printer market size will gain the most in the USA at $301.4 million.

Market-trend-based strategies for the barcode label printer market include focus on AI-driven printing optimization technology transforming barcode label printing, focus on revolutionizing workflow efficiency with healthcare-specific printing solutions, focus on advancements in cloud-based solutions transform labeling processes for modern businesses, focus on advancements in mobile and wireless barcode label printers, focus on technological role of automation in barcode label printing and focus on integration of RFID technology enhances efficiency, quality and cost savings.

Player-adopted strategies in the barcode label printer market include focus on strengthening its business operations through new product developments and focus on expanding its operational capabilities through new inkjet technology developments.

To take advantage of the opportunities, the analyst recommends the barcode label printer companies to focus on Ai-driven printing optimization, focus on healthcare industry-specific solutions, focus on cloud-based solutions for barcode label printing, focus on mobile and wireless barcode label printers, focus on RFID-enabled barcode label printers, focus on industrial and desktop printers market segments, focus on printers with resolutions between 301 to 600 dpi and 300 dpi, focus on thermal transfer and ink jet technology segments, expand in emerging markets, focus on diversifying distribution channels for market expansion, provide competitively priced offerings, focus on strategic pricing strategies for market leadership, participate in trade shows and events, continue to use B2B promotions, focus on digital engagement for enhanced market visibility, focus on retail and manufacturing end-user segments and target e-commerce companies.