Barcode Printers Market: Rising Demand for Ecommerce could Enable Steady Growth
The rapid growth of the ecommerce sector in recent years is a key driver for the global barcode printers market. The increasing penetration of the Internet and rising implementation of digital banking solutions has allowed the ecommerce sector to access the populous markets in emerging regions such as Asia Pacific and Latin America. Barcodes hold a crucial role in the ecommerce industry, as the lack of direct engagement between the customer and the seller makes invoices and other identification systems more important than in conventional retail. The complicated distribution system of many ecommerce giants also necessitates the use of convenient identification mechanisms, thus leading to rising demand from the barcode printers market.
Geographically, the report examines the performance of the barcode printers market in North America, Europe, Asia Pacific, and Rest of the World. Widespread adoption of ecommerce is expected to keep developed regions such as North America and Europe dominant in the global barcode printers market in the coming years. However, Asia Pacific also plays a key role in the development of the global barcode printers market, as the rising sales of low-cost barcode printers by Asian companies has resulted in commoditization of the barcode printers market.
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The ease of employing RFID (radiofrequency identification) tags as an alternative to barcodes is a key restraint on the barcode printers market. RFID tags are also more convenient to detect than barcodes, as barcodes need specialized software for recognition.
The growth of the global ecommerce industry is likely to remain a vital driver for the global barcode printers market, according to a new report from Transparency Market Research (TMR). The report studies the historical trajectory exhibited by the barcode printers market up to 2015, and presents a detailed analysis of the market’s figures in 2015. The various factors having a determinant impact on the growth trajectory of the global barcode printers market are assessed in the report to provide readers with a clear view of the influential dynamics likely to affect their growth strategies in the coming years. The report is titled ‘Barcode Printers Market – Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast, 2016 – 2024.’
The report takes a close look at the hierarchy of the global barcode printers market by various criteria. By end use, the market is segmented into retail, industrial (manufacturing), healthcare, government and commercial, and transportation and logistics. Of these, the retail and manufacturing sectors are likely to play a crucial role in the growth of the barcode printers market in the coming years. Barcode printers are also likely to witness a rise in demand from the healthcare sector due to the steady adoption of centralized electronic health record systems, which often require patients to be tagged with an identifying barcode.
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The report also provides a detailed overview of the global barcode printers market’s competitive dynamics by profiling leading market players such as Toshiba TEC Corporation, Avery Dennison Corporation, Honeywell International Inc.