The RFID
and barcode printer market is expected to be valued at USD 4.81 Billion by
2022, growing at a CAGR of 5.7% between 2017 and 2022. Some of the factors
driving the growth of this market include demand to improve inventory
management; rising e-commerce industry and need for eliminating human errors.
The market has been segmented on the basis of type, technology, printing
resolution, industry, and geography.
The
RFID and barcode printer market for the retail industry is expected to grow at
the fastest rate between 2017 and 2022. The barcode labels and tags have been
increasingly adopted in the retail sector, which has become the standard for
labeling, tracking, and storing the information about the product. This
information is later retrieved through scanners that provide the retailers about
the count of the product on the floor and inventory as well as providing the
cashiers information about the product.
Thermal
transfer technology held the largest share of the RFID and barcode printer
market for printing technology in 2017. The market for thermal transfer
technology is expected to witness a moderate growth during
the forecast period as this technology provides high-quality and long-lasting
labels and tags in many different colors. The market is driven by the rising demand
for printers using thermal transfer technology deployed in industries such as
education and entertainment for printing books, magazines, brochures, cards,
posters, and so on.
The
RFID and barcode printer market for the printing resolution below 300 dpi is
expected to grow at a high rate between 2017 and 2022. The printers with the
resolution below 300 dpi are in demand due to growing need for barcodes and
RFID tags on ID cards, wrist bands, products in retail, healthcare, education,
government industries. Moreover, lower resolution images appear fuzzy, jagged,
and blur, so resolution of 300 dpi is used for crisp, clear results. These
factors drive the growth of the market during forecast period.
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The
market for desktop RFID and barcode printers would grow at a considerable rate
between 2017 and 2022. The barcode desktop printers are being deployed any
mid-volume industry and keep operations running smoothly for the better
efficiency and productivity. The RFID and barcode desktop printers are used to
print item labels, instruction labels, agency labels in manufacturing and
warehousing. For patient identification, pharmacy, specimen identification,
parcel post, shipping/receiving labels, and small office in the healthcare
industry; and for price tags, shelf labels, jewelry tags in the retail
industry. The increasing demand for all these applications would drive the need
for RFID and barcode desktop printer market.
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