Barcode Printers and Consumables Market Expected to Witness a Healthy CAGR of 8.0%

The barcode printers and consumables market is set to expand that its market space at a promising average CAGR of 8.0% and is anticipated to reach a valuation of around USD 14,375.28 Mn by 2032 while it holds a revenue of USD 6.658.5 Million in 2022.

FMI’s research report on market explains the rising market dynamics is an outcome of the higher adoption of barcodes in the production sector along with innovative ideas pushing producers to manufacture industry-specific barcodes.

Customer-centric production is further advanced with the advent of customization, AI-based analysis, and innovative content suggestions, fueling the sales of barcode printers and consumables. This strategy is adopted by the major players of the market. Modern-age data collection technologies such as barcode scanners and fruitful marketing techniques involving consumables are pushing the producers to adopt barcodes, which eventually expands barcode printers and consumables market size.

The advent of wireless barcode printers and consumables in its industrial application as well as its usage in desktop creates lucrative opportunities for the barcode printers and consumables market.

However, the memory system and programmable logic controllers create failed attempts declines the sales of barcode printers and consumables.

United States holds the 30.3% of global barcode printers and consumables market and is anticipated to hold its position with a CAGR of 9.0% during the forecast period. The growth is attributed to higher number of retail stores and spreading digitization.
China holds 8.3% of global barcode printers and consumables market and is likely to hold its position with a CAGR of 6.0% during the forecast period. The growth is owed to the demand for higher efficiency, automation, and increased manufacturing units.

Another Asian market, Japan thrives at a CAGR of 7.0 in the global barcode printers and consumables market, attributing its growth to the higher demand from pharmaceuticals and logistics industries.
Direct thermal printers are the most successful based on the printing technology due to the lower impact on the environment due to the elimination of poly-based binding materials.

Healthcare industry is the biggest application segment in the barcode printers and consumables market.