RFID and Barcode Printer Market worth $5.3 billion by 2026

According to the new market research report RFID and Barcode Printer Market with COVID-19 Impact Analysis by Printer Type, Format Type (Industrial Printers, Desktop Printers, Mobile Printers), Printing Technology, Printing Resolution, Application, and Region - Global Forecast to 2026, published by MarketsandMarkets, the market size for RFID and Barcode Printer was valued at USD 3.9 billion in 2021 and is projected to reach USD 5.3 billion by 2026. It is expected to grow at a CAGR of 6.4% during the forecast period.

Increasing installation of RFID and barcode systems in manufacturing units to improve productivity to tackle the impact of COVID-19, growing use of RFID and barcode printers in flourishing global e-commerce industry, surging need for improvement in inventory management, and rising demand for mobile printers based on wireless technologies are the key driving factors for the RFID and barcode printer market.

The barcode printers segment accounted for a larger size of the RFID and barcode printer market than the RFID printers segment. Barcode printers are extensively used in small, medium, and large businesses to label and subsequently track the products being shipped. This is one of the key factors fueling the growth of the barcode printers segment of the market. These printers are frequently used in high printing requirement applications, including retail. The manufacturing and industrial segment accounted for the largest size of the barcode printer market in 2020. Barcode printers are widely used in manufacturing industrial applications, as they benefit every stage of the manufacturing process, right from distribution and logistics to inventory tracking and product shipping. In 2020, North America accounted for the largest share of the barcode printer market, and this trend is expected to continue during the forecast period.