Label Printer Market: Key Insights
Our Market Study on “Label Printer Market Forecast to 2027 – COVID-19 Impact and Global Analysis by Type (Industrial, Desktop, and Mobile), Technology (Thermal Transfer, Direct Thermal, and Non-Thermal), End-User Industry (Manufacturing, Retail, Transportation & Logistics, Healthcare, FMCG, Entertainment, and Others), and Geography”, the label printer market was valued at US$ 4,715.4 million in 2019 and is expected to grow at a CAGR of 6.3% during the forecast period 2020-2027 and reach US$ 7,494.4 million by 2027.
The rise in digitalization is one of the significant factors supporting the innovative customer-centric business framework. Nowadays, creativity plays an essential role to gather customers’ attention; thus, digital label printing infrastructure offers market players considerably broad opportunities. The factors such as increasing application of automatic identification and data capture (AIDC) technology for enhanced productivity, growing concerns related to product safety and anti-counterfeiting, and rising use of thermal printing technology for printing applications are positively impacting the label printer market.
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The fast-moving consumer goods (FMCG) industry is growing at an exponential rate pertaining to the continuous emergence of new players in the market and the increasing customer base of long-established players. Developed and developing countries are experiencing a significant surge in the demand for FMCG products; thus, the number of small and medium-sized enterprises (SMEs) is increasing in the FMCG market. The rising number of FMCG product manufacturers across the world generates substantial demand for labeling technologies, which, in turn, bolsters the growth of the label printer market.
The pharmaceutical manufacturers and medical device developers operate in a critical sector, as there is no margin for error. These companies must adhere to various regulations for serialization set by the governments and authorities in the healthcare sector. Over the past few years, the pharmaceutical and medical device industries have experienced a significant rise in counterfeit products and duplicate product serial numbers and has caused serious damage to manufacturers’ businesses. Owing to this issue, the manufacturers in these industries are heavily emphasizing on procuring advanced label printing to prove the authentication of the product. Therefore, the increasing demand for label printers from pharmaceuticals and medical device companies bolsters the growth of the label printer market across the world.
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Label Printer Market: Competitive Landscape and Key Developments
- Toshiba Tec Corporation
- Honeywell International Inc.
- Postek Electronics Co., Ltd.
- Wasp Barcode Technologies
- VIPColor Technologies Pte Ltd.
- GoDEX International Co., Ltd.
- Zebra Technologies Corp.
- TSC Auto ID Technology Co., Ltd
- Sato Holdings Corporation
- Seiko Epson Corporation
In the label printer market, companies commonly perform the product development strategy to expand their footprint across the world by meeting the growing demand for their offerings. This strategy is mostly observed to be implemented in markets of North America and APAC. A few recent product developments in the label printer market are listed below:
SATO won Red Dot Award for its CT4-LX smart desktop label printer. The Red Dot Design Award is a prestigious international design competition for product design, communication design and design concepts based in Germany. The CT4-LX facilitates seamless connectivity with cloud technologies designed specifically for labeling operations.
Epson America, Inc. and TEKLYNX International partnered to develop native printer drivers for new ColorWorks C6000-Series on-demand color label printers.
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