Published Report - Label Printer Market Size, Share and Industry Report 2027

[Research Report] 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 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.

At present, Toshiba Tec Corporation, Honeywell International Inc., Zebra Technologies Corp., Sato Holdings Corporation, and Seiko Epson Corporation are among the major label printer manufacturers. By manufacturing printers and integrating the same with RFID or barcode technologies, the label printer manufacturers sell these products to various end users, such as FMCG product manufacturers, healthcare product manufacturers, logistics service providers, and retail stores. Growing number of these end users leads to increasing demand for printers, pressurizing the printer manufacturers to enhance respective production lines and deliver the demanded quantity year-on-year. This surge in demand is likely to boost the growth of the label printer market. On the contrary, longer lifespan and higher maintenance cost of label printers may hinder the development of the label printer market.

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Published Report - Label Printer Market: Strategic Insights

Published Report - Label Printer Market

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  CAGR (2019 - 2027)

  6.3%
• Market Size 2019
  US$ 4.72 Billion
• Market Size 2027
  US$ 7.49 Billion

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Key Players

• 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

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Type

• Industrial
• Desktop
• Mobile

Technology

• Thermal Transfer
• Direct Thermal
• Non-Thermal

End-User Industry

• Manufacturing
• Retail
• Transportation & Logistics
• Healthcare
• FMCG
• Entertainment
• Others

Geography

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South and Central America

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Impact of COVID-19 Pandemic on Label Printer Market

The COVID-19 outbreak, which began in Wuhan (China) in December 2019, has spread at a fast pace across the world. The continuously increasing number of infected patients are hampering the growth of various industries worldwide. The US, India, Brazil, Russia, South Africa, Mexico, and Spain are among the worst affected countries in terms of confirmed cases and reported deaths. As per the latest Worldometer figures, the confirmed COVID-19 patients’ count is 28,029,549 and the death count is 908,046 globally. The US is a significant market for label printers, especially in the manufacturing, retail, and transportation & logistics sectors. However, the increase in the number of COVID-19 related deaths in the country has affected the manufacturing and retail sector. Furthermore, factory and business shutdowns across the US, Canada, and Mexico impact the adoption of label printers. Also, with the imposition of lockdown across countries in North America, Europe, APAC, MEA, and SAM, several sectors are witnessing shattering experience. As a result, the companies are cutting their IT spending, which might affect the demand of label printers. Therefore, COVID-19 is expected to have a short-term negative impact on the label printer market.

Market Insights

Growing Awareness in Developing Countries

The demand for label printers is constantly growing among several industries in developing countries. The emerging countries in APAC, SAM, and MEA are experiencing a rise in the number of manufacturers across various industries, including FMCG, pharmaceutical products, automotive components, and electronics. Manufacturers in these industries authenticate their products by labeling them using barcodes or other technologies. The majority of the manufacturers in developing countries use traditional or conventional label printers. However, the increasing awareness about the benefits of digital label printers boosts the adoption rate of these printers, which, in turn, drives the growth of the label printer market, and the trend is anticipated to propel in the coming years.

Type-Based Market Insights

In terms of type, the industrial segment captured a larger share of the global label printer market in 2019. The rising number of counterfeit products across various industries, such as FMCG, pharmaceutical, medical device, automotive components, and electronics, compels the industry players to opt for label printers integrated with barcode or RFID label printing technology. This is a crucial driving factor for the growth of the industrial label printer market.

End-User Industry-Based Market Insights

Based on end-user industry, the label printer market is further segmented into manufacturing, retail, transportation & logistics, healthcare, FMCG, entertainment, and others. The manufacturing segment captured the largest share in the global label printer market in 2019. The manufacturers, across the industries mentioned above, are constantly facing challenges regarding the ever-rising number of counterfeit products. This issue adversely affects the brand image, sales figures, and customer base of manufacturers. To prove the authenticity of the products, market players across the aforementioned industries are increasingly emphasizing on the adoption of label printers to imprint labels for authenticity. This factor bolsters the growth of the label printer market through the manufacturing segment.

Label Printer Market Report Scope

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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:

• 2020: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.
• 2019:Epson America, Inc. and TEKLYNX International partnered to develop native printer drivers for new ColorWorks C6000-Series on-demand color label printers.
  
  

Market Segmentation

Label Printer Market – By Type

• Industrial
• Desktop
• Mobile

Label Printer Market – By Technology

• Thermal Transfer
• Direct Thermal
• Non-Thermal

Label Printer Market – By End-User Industry

• Manufacturing
• Retail
• Transportation & Logistics
• Healthcare
• FMCG
• Entertainment
• Others

Label Printer Market by Region

• North America

  • US
  • Canada
  • Mexico

• Europe

  • France
  • Germany
  • Italy
  • UK
  • Russia
  • Rest of Europe

• Asia Pacific (APAC)

  • China
  • India
  • South Korea
  • Japan
  • Australia
  • Rest of APAC

• Middle East and Africa (MEA)

  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA

• South America (SAM)

  • Brazil
  • Rest of SAM 

Company Profiles

• 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