Market Trends of Barcode Printer Industry
Retail Segment to be the Largest End-user Industry
- Retail stores utilize barcode printers to print each product's barcode on a self-adhesive tag for ease of scanning by barcode scanners before attaching them to packages or tags. Once the products are gathered in a warehouse associated with their individual SKUs, they are labeled with unique barcodes for better organization of merchandise data in retailer systems, improved inventory management, and tracking of sales transactions at cash registers. The store then has the option to use a barcode label printer to print the barcode alone on the label or include additional details such as price or a brief product description.
- Barcodes allow retailers to manage inventory, automate product reordering, analyze sales of national brands versus private labels, monitor product attribute preferences, tailor promotions to customer buying habits, and identify individual customer preferences.
- Direct transfer printers are perfect for businesses that require efficient barcode printing, as they are able to rapidly produce a high volume of barcodes. They can be used on a variety of surfaces, such as plastic, paper, and metal, due to their flexibility. Directly connecting barcode printers are becoming increasingly popular in retail stores due to their fast and accurate printing of barcoded products and labels.
- Barcode technology allows retailers to monitor their stocks, analyze sales of comparable items, track product details like size and hue, automatically reorder products, recognize customer preferences, and create personalized promotions based on shopping behaviors.
- As per the US Census Bureau's data, total retail sales hit about USD 7.24 trillion by the conclusion of 2023, marking an increase of around USD 1.5 billion compared to the previous year.
Understand The Key Trends Shaping This Market
Download PDF
North America Holds a Major Market Share
- Due to the widespread use of barcode and label technologies across various industries, North America is recognized as one of the leading investors and innovators in the market. Furthermore, suppliers have a significant opportunity to enter regional markets because of the expansion of end-user industries in the region. Players from the United States comprise a significant portion of the major participants in the regional market. There is a significant amount of innovation in the regional market.
- The expansion of the e-commerce and retail industries in the United States and Canada, with a focus on online shopping, is projected to increase the need for barcode printers in North America as companies prioritize automating processes to enhance operational efficiency. The US Census Bureau had estimated that e-commerce sales in the United States would hit around USD 275 million in 2023.
- With the ongoing growth of healthcare services and the adoption of digital advancements in the United States, it is crucial to have precise and easy-to-use solutions to prioritize patient care. Barcoding solutions and future-proof options are accessible for hospitals, pharmacies, and labs to handle the challenges posed by a growing or aging population.
- Furthermore, the Digimarc barcode has been approved by the US Department of Agriculture as a digital disclosure method for packaging bioengineered foods, also referred to as genetically modified organisms (GMOs). Digimarc Barcode is an innovative form of inconspicuous barcode designed to be included on product packaging, retail tags, and hangtags. Consumer phones that are compatible, as well as retail barcode scanners and computer vision systems, have the capability to scan them. It also removes the requirement of incorporating a QR method in the product package design and meets the updated federal regulations.
Get Analysis on Important Geographic Markets
Download PDF
