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Market Research Company Estimates A CAGR Of 7.4% for the Barcode Printers Market in the Next Decade
We see barcode printers everywhere but it doesn’t register (mind the pun) on us simply because they’re unassuming and simple devices. However, they’ve definitely become a feature of modern day businesses where physical items are involved. Considering the measure of their importance, it isn’t all that surprising that a market research firm has come out and predicted that the barcode printers market will grow by a CAGR of approximately in 7.4 percent.
The growth numbers are drawn from a report released by a market research organisation, “Future Market Insights”. The organisation is headquartered in the United Kingdom and presents itself as a “premier provider of market intelligence”. The report, itself, is titled “Barcode Printers Market – Global Industry Analysis & Opportunity Assessment, 2016-2026”.
The estimate is based on the value of the industry and not its volume. While the barcode printers market’s growth from the perspective of value is impressive, it isn’t small in volume either. With respect to volume, the barcode printers market is expected to grow at a CAGR of 5.7 percent. These growth rates are expected to take place in the next decade i.e. the period between 2016 and 2026.
Specifically speaking, the market research company has pegged that barcode printers market to be valued at about $5,656.1 million by the end of the forecast period. In terms of volume, the market is expected to process around 5,384.3 ‘000 units by the end of 2026. Needless to say, the figures assessed are global, which means that the projections are also for the global barcode printers market. Currently, the global barcode printers market churns out total revenue of about $2,758 million through the processing of approximately 3,086.8 ‘000 units.
The market research firm behind the numbers gave multiple reasons for its projections about the global barcode printers market. The foremost of these was the fact that the manufacturing industries, the world over, have almost completely recovered from the economic crisis of 2008. Furthermore, the firm has also highlighted the increased focus on automation as a reason for the positive forecast for the barcode printers industry.
As per the research firm, a large number of manufacturing companies all over the world are adopting various streamlining and automation technologies so as to make their operations more cost effective and less time consuming. One of the technologies that are being adopted on a worldwide scale is barcoding which will have a direct and positive impact on the global barcode printers market.
Expounding on the practice of barcoding, Future Market Insights, suggested that it is quickly becoming the “de facto standard for product information storing and labelling”. However, the research company also specifically pinpointed the factors limiting the growth of the global barcode printers market. They suggest that RFID tags are the greatest threat to barcoding because barcode labels and printers aren’t universally compatible to existing operational systems.
The report segments the global barcode printers market in various ways. The first is by type which includes categories such as mobile barcode printers, desktop barcode printers and industrial barcode printers. Within this segmentation, Future Market Insights states that the industrial barcode printer category holds the greatest market share at 46.1 percent. More importantly, this category is expected to grow the fastest with a projected CAGR of 8.3 percent.
Another segmentation method noted by Future Market Insights was on technology, with categories such as inkjet, laser, dot matrix, direct thermal and thermal transfer. Within this segmentation method, the market intelligence firm specifies the thermal transfer category to have the greatest market share of 62.8 percent which is expected to grow even further.
Toshiba B-FP3 Series Launched By OEM for Retail, Logistics, and Manufacturing Sectors
Toshiba has launched the B-FP3 series to expand its existing offerings within the portable barcode printer segment. The B-FP3 series consists of models that boast of high speed (6 IPS) three-inch receipts and label/receipt models. The models in the new printer series boast of best – in – class performance, especially in terms of mobile printing. Furthermore, these barcode printers are designed explicitly to be rugged, light, and compact.
Essentially, the entire Toshiba B-FP3 series has been designed by the Original Equipment Manufacturer (OEM) to be highly reliable and durable even in adverse conditions. For example, these printer models are drop resistant, have splash proof ratings, boast of IP54 dust protection and can operate in extreme temperatures. They are high capacity barcode printers and can handle up to 560 labels or 183 feet of receipts which reduces the number of times rolls need to be changed. The barcode printers can handle media measuring between 23.84mm to 79.25mm.
These barcode printers are aimed at industries such as field service operations, logistics, manufacturing and retail. Other features of the Toshiba B-FP3 series include colour LCD displays which show battery power and operation status. Connectivity is provided through Wi-Fi, USB, Bluetooth and even NFC compatibility. Moreover, the printers can be used with Windows, Android, and iOS devices since the OEM provides a software development kit with them. Along with the release, the OEM specified that they’ve “incorporate an extensive feature set into a small ruggedized footprint”.
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