DUBLIN, Jun 11, 2021--(BUSINESS WIRE)--The "Global 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 - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global RFID and barcode printer market size 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. However, stringent printing resolution and poor image quality of the barcode labels are hampering the growth of the market.
Mobile printers to witness a higher CAGR during the forecast period
The mobile printers segment of the RFID and barcode printer market is projected to grow at the highest CAGR from 2021 to 2026. The demand for mobile RFID and barcode printers is increasing rapidly worldwide as these printers are used for printing labels, tickets, and receipts in the hospitality, retail, and healthcare sectors.
Moreover, mobile printers are used in a number of industries for printing barcodes and RFID labels and tags. They have certain features, making the printing of barcode and RFID labels, tags, and receipts easy. These features include durability, robustness, and ruggedness, along with the simplicity of use, easy connection with mobile devices, and flexible connectivity options, including USB, Bluetooth, and wireless LAN (WLAN).
Direct thermal printing technology to account for the largest share of the market during the forecast period
The barcode printers segment accounted for a larger size of the RFID and barcode printer market for direct thermal technology than the RFID printers segment. Direct thermal printing technology-based RFID and barcode printers are ideal for high-volume printing applications. They are the easiest and most cost-effective solution used in short-term applications. They are employed for printing labels meant for temporary use, such as shipping labels and food packaging labels. The direct thermal segment is projected to lead the RFID and barcode printer market from 2021 to 2026. The growth of this segment of the market can be attributed to the increasing penetration of thermal transfer technology in RFID and barcode printers. They are engineered for high-volume operations in harsh environments.
Retail application to account for the largest share of the RFID and barcode printer market during the forecast period
The RFID printers segment of the RFID and barcode printer market for retail is projected to grow at a higher CAGR than the barcode printers segment from 2021 to 2026. The increasing adoption of RFID printers in garment tagging applications and gaining inventory visibility, as well as for retrieving information about in-store activities, are key contributors to the growth of the RFID and barcode printer market in retail. The demand for RFID and barcode printers is significant in the retail sector.
One of the key factors for this high demand is the requirement of maintaining data by tracking inventories through barcodes and RFID tags. Printers are used to print these tags at significantly low costs. They also print rugged and reliable labels, which can withstand all challenging conditions such as abrasion, moisture, and extreme temperatures. Moreover, the inclination of companies toward retailing and the growth potential of the e-commerce business across the world are further expected to fuel the growth of the RFID and barcode printer market.
North America to account for the largest share during 2021-2026
The region has the presence of a large number of providers of RFID and barcode printers, including Zebra Technologies, Honeywell International, and Brother Industries. North America is one of the largest contributors to the RFID and barcode printer market.
Increasing Installation of RFID and Barcode Systems in Manufacturing Units to Improve Productivity to Tackle Impact of COVID-19
Growing Use of RFID and Barcode Printers in Flourishing Global E-Commerce Industry
Surging Need for Improvement in Inventory Management
Rising Demand for Mobile Printers Based on Wireless Technologies
Stringent Printing Regulations
Poor Image Quality of Barcode Labels
Growing Use of RFID and Barcode Printers in Supply Chain Industry
Increasing Deployment of RFID and Barcode Printers in Hospitals
Rising Global Adoption of RFID and Barcode Tags Enabled by Industry 4.0, IoT, and Smart Manufacturing
Low Contrast of RFID and Barcode Elements
High Heat Settings of Barcode Printers Can Lead to Smudged Bar Lines
Avery Dennison Corporation
Brother International Corporation
Cab Produkttechnik GmbH & Co.Kg
Citizen Systems Europe
Linx Printing Technologies
Oki Electric Industry Co. Ltd.
Rongta Technology (Xiamen) Group
Sato Holdings Corporation
Seiko Epson Corporation
Toshiba Tec Corporation
TSC Auto Id Technology Co. Ltd.
Wasp Barcode Technologies
Zebra Technologies Corporation
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