Global Barcode Printers Market to grow at 5% CAGR from 2018 to 2024: Global Market Insights, Inc. Barcode Printers Market size was around USD 2.4 billion in 2017, and is set to exceed USD 3.5 billion by 2024; according to a new research report by Global Market Insights, Inc. The increasing demand for barcode wristbands in the healthcare sector for patient identification is anticipated to have a positive impact on the barcode printers market growth. Hospitals across the globe are mandating policies, which require the patients to wear a barcode identification band during their stay in the hospital. Barcode bands allow hospital staffs to provide speedy and accurate data entry, reducing the medical errors. It helps in enhancing the efficiency as compared to the physical entry of data. The global ongoing trade developments are anticipated to drive the barcode printers market growth over the forecast timeline. The growth can be attributed to the increasing number of shipments exported or imported, labeled & coded with barcodes for recording and storing the data associated with the goods and products.
The barcode technology is being increasingly utilized in the retail sector where it has become a standard for labeling and storing the product’s data, allowing the staff to offer smooth services to the customers. The growth in the retail industry can be accredited to the rising disposable incomes, providing a boost to the e-commerce sector, positively driving the barcode printers market growth. Mobile barcode printers market is expected to witness a significant growth at over 9% CAGR over the forecast timeline. It can be attributed to the ease-of-usage offered by these printers in several field-based applications. The mobile barcode printers are gaining popularity across retail & warehousing applications to issue authentic invoices, printing e-citation & mobile receipts regardless of the time and place. They are ideal solutions for printing-on-the-go, creating high-quality receipts & labels in any environment, outdoors, or indoors. Thermal-based printers comprise more than 65 percent of the overall barcode printers market share. Due to the features, such as high speed, low noise, and ease-ofcleaning and reliability offered, the thermal-based printers are increasingly utilized across several applications. The direct thermal technology is expected to witness growth over the forecast time span owing to the improved durability and low operational costs. These systems are ideal solutions for applications such as shipping
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