According to
MarketsandMarkets, 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. Major factors
driving the growth of the RFID and barcode printer industry are 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 the
flourishing global e-commerce industry, surging need for improvement in
inventory management, and rising demand for mobile printers based on wireless
technologies.
RFID printers are
used to develop RFID-enabled smart labels and tags, which use radio frequency
technology to transmit information through systems of users. They enhance the
specific digital functionality of images by embedding RFID labels into
different types of print formats. These printed labels and tags are used in
various industries such as transportation and logistics, healthcare, and
transportation to track and assess information related to the assets using
radiofrequency in real-time. RFID printers use different types of consumables
such as ribbons and labels to achieve RFID print images. They are developed in
such a way that these printers can print clear machine-readable barcodes and
RFID prints at high printing speeds and low costs.
Thermal printing
technology uses heat for image generation on paper. RFID and barcode printers
are increasingly becoming popular in retail businesses as they are more
efficient in terms of power consumption and speed than traditional printers.
Moreover, these printers are cost-effective and reliable for grocery stores and
retail outlets. Thermal printing technology-based RFID and barcode printers are
also ideal for printing receipts, ID badges, shipping labels, and price tags.
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. These printers
are enclosed as they can be used in environments that are prone to dust and
dirt; therefore, thermal transfer printing technology is widely used in RFID
and barcode printers as it enables the printing of durable labels that can
withstand harsh environments.
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In the manufacturing
industry, barcode printers are commonly used to print labels and tags that are
used for extracting data and tracing equipment details for their maintenance,
thereby resulting in the enhancement of the workflow. The increasing demand for
labels and barcodes in the manufacturing industry is one of the key factors
driving the growth of the RFID and barcode printer market for manufacturing and
industrial. In manufacturing and industrial environments, printers facilitate
labeling by printing carton/pallet labels, shipping/receiving labels, and
inventory control labels. The labels printed by them are also used for freight
tracking and ticketing applications. Barcodes and RFID tags are used in
different stages of the manufacturing industry, including distribution and
logistics, along with inventory tracking and picking/packing/shipping, etc.
RFID and barcode labels and tags make it easy to keep track of warehouses,
along with enhancing cross-docking, yard management, and pick-up and delivery
functions.
In 2020, North
America accounted for the largest share of the RFID and barcode printer market,
and a similar trend is anticipated to continue during the forecast period.
Retail, transportation and logistics, manufacturing and industrial, and
healthcare and hospitality are the key applications of RFID and barcode printers
in the region. Several companies offering RFID and barcode printers have their
presence in North America that further add to the growth of the RFID and
barcode printer market in the region. 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. Additionally, the
US leads the market in North America owing to its well-established economy that
encourages increased government and private investments in new technologies.
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