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Global Market for Stationary Thermal Barcode Printers to reach $1.6 Billion in 2020, According to VDC Research
Product innovation around ease of use and e-commerce driven demand are key catalysts for growth
NATICK, MA | October 26, 2016 - The global stationary barcode printer market is expected to grow at a CAGR of 4.3% to $1.6 billion by 2020, according to a new report by VDC Research (click here for more information). Intensifying competition from smaller and regionally focused vendors, declining price points, and relative product commoditization will push industrial and desktop device manufacturers to focus more on product differentiation and innovation if they want to remain competitive in this mature technology segment.
While the current market is relatively saturated, there is still considerable potential for growth. “There are a variety of specific user requirements are not currently being addressed by existing options, which presents an opportunity for incumbents and newer entrants to make their mark in this highly competitive and fragmented landscape” said Richa Gupta, Director of Automatic Identification & Data Capture at VDC. “Innovation will enable hardware vendors to meet increasingly specialized opportunities in order to satisfy niche labeling application requirements.” Market leaders have been introducing a variety of new features, such as high resolution printing capabilities on desktop printers, built-in touch screens to store simple label designs, and ink ribbon cartridges for desktop thermal transfer printers.
VDC’s research shows that the retail industry is undergoing a major shift with traditional brick-and-mortar sales growth lagging behind e-commerce. This shift in consumer shopping trends is projected to have a direct impact on retailers’ technology investments, prompting them to allocate more of their budget towards setting up technology infrastructure in warehouses and distribution centers in support of e-commerce sales.
Rising interest from small and midsize businesses (SMBs) in labeling solutions is expected to increase the number of devices purchased, especially as the costs become more competitive for a broader range of products. “The price of entry-level barcode labeling hardware has fallen in recent years to a point where smaller manufacturers and shippers can make investments in these devices without seeking out third-party consultation and installation services” Gupta said.
Although the market for stationary thermal barcode printers is approaching maturity, it continues to rapidly evolve and change. According to the report, it is critical that both established and new companies innovate and make necessary adjustments to their R&D strategy and use of technology in order to position themselves competitively for future success.
About VDC Research
Founded in 1971, VDC Research provides in-depth insights to technology vendors, end users, and investors across the globe. As a market research and consulting firm, VDC’s coverage of AutoID, enterprise mobility, industrial automation, and IoT and embedded technologies is among the most advanced in the industry, helping our clients make critical decisions with confidence. Offering syndicated reports and custom consultation, our methodologies consistently provide accurate forecasts and unmatched thought leadership for deeply technical markets. Located in Natick, Massachusetts, VDC prides itself on its close personal relationships with clients, delivering an attention to detail and a unique perspective that is second to none.