Barcode Printers Market - Forecast(2025 - 2031)

 Printers Market Overview:

Barcode Printers Market Size is forecast to reach $8,435.20 Million by 2030, at a CAGR of 6.30% during forecast period 2024-2030.According to India Brand Equity Foundation, in the Indian advertising industry, printed form of advertisements account for approximately 41.2% of the total advertising revenue.[1] This data resonates the well-established grounds of the print media often incorrectly claimed to be completely overshadowed by the new media. Digitalization is at its peak but yet to impact all forms of economy and industries. Correspondingly, technical innovation in the printers market was marked with the introduction of wireless and 3D printers uplifting the traditional printers market. Printers have a wide range of applications in healthcare, IT, educational, packaging, chemical, interior designing, and textiles. Due to abundant potential as an effective tool for advertisement and graphical designing that replicate the images, graphics, and written texts on substrate, printers’ market size is estimated to be $105.67 billion as of 2018.

Printers Market Outlook:

Augmenting photography market has amplified the demands for the laser printer driving it towards viable commercialization. Additionally, the rising adoption of wireless printers and all-in-one printers in multiple industries is expected to add revenues in the global printers market. Increased advantages such as the facility to print large formats with improved quality, clarity, and smoothness are advocating scope of application and demand progressing at a global CAGR of 3.97% during the forecast period 2024-2030.

After analyzing the business insights of several regions pertaining to printers market, APAC is reckoned to be the leading region in terms of global demand. These demands are extensively being sourced by developing economies such as India and China, yet to imply complete digitalization and paperless economy standards. China has observed rapid growth in the digital textile printing industry over the years due to an increase in the number of textile yarns in the country. Owing to such settings, APAC accounted for a substantial 33.73% of the global printers market demand in 2018.

Some factors supporting the argument-

· Flourishing textile sector disrupting the demand for textile digital printers - China secures the apex spot as a textile exporter with 40% of world textile and clothing exports and about 24,000 enterprises enabling it as the largest manufacturing industry of China.[2] Similarly, flourishing Indian textile sector funds 2% to the GDP of India and is projected to be valued at $250 billion by 2019. The fad of digitally printed textiles is highly trending globally and these apparels are printed using the large format printers.

· China is the world’s second-largest advertising market with a market value of more than $80 billion in 2016. China's retail boom and intensifying competition among the vendors is instigating China's advertising industry to develop even faster than the economy as a whole.[3] Advertisement industry with its requirement for the higher print resolution and better print quality is constantly pacing the demand for inkjet and larger format printers.

· China is the largest exporter of industrial printers scoring 23% of the total export followed by Japan with a substantial 22%. Export value for China is calculated to be $14.2 billion and Japan holds the second spot with $13.6 billion. 20% of the industrial printers are exported to the U.S from China.[4]

Printers have applications in many industries that range from IT, chemical, publishing, branding, and others. However, textile industry is calculated to be the fastest growing segment, progressing with an application CAGR of 4.64% going through 2025. Digital textile printing market is leveraging the unprecedented demand for printed textiles from booming global population, thus instigating the robust demand growth for industrial printers in the textile industry.

Printers Market Trends and Growth Drivers:

· Undying demand for the printed books and stellar performance by the publishing industry is a major growth driver of the printers market. According to The Guardian, the sales of books were valued to be $7.46 billion in 2017, which largely sustained the demand influx in the printers market.[5]

· Several market leaders in the printer industry such as EPSON, HP and Canon among others are developing all-in-one printers. These printers come with lots of other compelling features such as safe keeping of documents and sending e-mails via them. These printers often come with Wi-Fi connection which enables consumers to print documents via the Internet using their smartphone, tablets or PC.

· There are numerous omnipresent innovations in the printers market disrupting the industry. The efficiency to be delivered by the emergence of mobile-ready and cloud-ready printers will accumulate a wide range of target customers. The arena of automation is making strides positively influencing the printers market in several orders. It will enable remote administration and personalization that will attract a lot of customers.

· Flourishing sectors such as photography and print advertisement with the printers as an imperative tool is a sustained growth driver. The photographs printed through the wax printer are extremely color balanced and sharp, and the adamant advertising industry with failed attempt to completely digitalize itself is disrupting the demand large format printers for printing massive sized billboards.

Printers Market Challenges:

Printers market is size is restricted by the digitalization of operations in numerous industries due to which many enterprises globally have ceased the usage of printers and switched to a digital display. However, the printers are still a requisite an asset in some industries, and the inventions will propel the market growth. Regular innovations in printer technology has seen upgrades from dot-matrix, ink-jet, line printers, daisy-wheel printers, and drum printers to highly advanced laser printer, LED printers, portable printers, and Wi-Fi enabled printers. With the growing electronics industry, the printers market is expected to witness more significant innovations.

Printers Market Players Perspective:

Some of the key players involved in the manufacturing and innovations in the global printers market size are HP, Seiko Epson, Ricoh, Canon, Samsung, Xerox, Brother, Hitachi, Konica Minolta, Durst, Zebra Technologies, and Lexmark.

 

Printers Market Research Scope:

The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the printers market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the various types of innovations in global printers market, and their specific advantages.

The   Printers Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:

•           North America: The U.S., Canada, Mexico

•           South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica

•           Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark

•           APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong

•           Middle East and Africa: Israel, South Africa, Saudi Arabia

 

Key Questions Addressed in the Printers Market Report

1.         Is the market for printers growing? How long will it continue to grow and at what rate?

2.         Which type of segment presents the major growth opportunities?

3.         Is there a possibility for change in the market structure over time? 

4.         Are additional developments needed for the existing product or services offerings or do the existing products meet the customer demands?

5.         Do the key vendors look for partnerships to expand their businesses with respect to geography or product?

6.         What are the short-term, long-term, and medium-term growth drivers for the market?

7.         What are the short-term, medium-term, and long-term challenges for the market?

8.         What are the short-term, medium-term, and long-term opportunities for the market

9.         Who are the top players/companies of the market?

10.       What are the recent innovations in the market?

11.       How many patents have been filed by the leading players?

12.       What are the types of patents filed by the leading players?

13.       What is our Vision 2030 printers market?

 

A few focus points of this Research are given below:

•           Give a deep-dive analysis of the key operational strategies with focus on the corporate structure, R&D strategies, localization strategies, production capabilities, and sales performance of various companies

•           Provide an overview of the product portfolio, including product planning, development, and positioning

•           Discuss the role of technology companies in partnerships

•           Explore the regional sales activities

•           Analyze the market size and giving the forecast for current and future printers market during the forecast 2019–2025

•           Analyze the competitive factors, competitors’ market shares, product capabilities, and supply chain structures.