Barcode printer market analysis

The global barcode printer market size in 2024 is estimated at $4.52 billion and is expected to reach $5.55 billion by 2029, with a compound annual growth rate of 4.18% during the forecast period (2024-2029).

The growth of asset tracking applications and the continuous advancement of printing and printer technologies are some of the major factors driving the growth of the global barcode printer market. Many industries are adopting labels and barcodes for asset tracking and to provide information about their products.

By product type, industrial printers are expected to hold a major market share during the forecast period. However, recent technological advances such as wireless connectivity have also boosted the mobile printer space. Thermal barcode printers are widely used by small and large businesses to mark and subsequently track shipped products.

The increasing adoption of automatic identification and data acquisition technologies for increased productivity, as well as the increasing focus on product safety and anti-counterfeiting, are also driving the growth of the thermal printer market. The increasing use of thermal printing technology in the latest print on demand applications has further expanded the range of thermal barcode printers.

In addition, direct heat technology, which uses heat on heat-sensitive substrates to produce images, mainly serves the retail market and is mainly used for quantitative food labeling. It provides ease of use and reliability for short life applications and provides good low cost barcodes at reasonable printing speeds. These characteristics make thermal technology a choice for identifying and tracking labels for shipping products, such as parcel delivery and shell and pallet marking.

The increase in e-commerce has led to an increase in the demand for barcode printing. This is met through the efforts of manufacturers and market investors. This development has been widespread, with interests ranging from printing barcodes to barcoding stamps to minimize waste. Sometimes, a barcode is printed on the outside of the booklet to identify the stamp barcode inside.

In July 2021, the International Security Printer (ISP) invested in an advanced hybrid printing, post-press and inspection system to further develop barcode stamps. These investments are diversified and are designed to enable postal authorities to add unique color-coded barcodes to stamps that are placed along the stamps and separated by punch lines.

In addition, with the outbreak of the COVID-19 pandemic, the markets studied are expected to further drive demand, with increasing demand for healthcare. In addition, with multiple regions under lockdown, e-commerce sales are surging at an unprecedented rate, boosting the markets studied.