The label printer market size is projected to reach US$ 9.71 billion by 2031 from US$ 5.93 billion in 2023. The market is expected to register a CAGR of 6.4% in 2023–2031. Increasing demand for label printers from the pharmaceutical sector and growth in the packaging industry are likely to remain key label printer market trends.
Label Printer Market Analysis
Numerous industries, including supply chain management, retail price marking, packaging labels, and others, use label printers. The information or symbols about the product or item that are helpful to both the seller and the customer are printed using label printers. Demand for desktop and mobile/portable printers is expected to soar during the forecast period due to the manufacturing industry's ongoing need for simple, convenient label printing tools. In addition, the growth in the retail industry further fosters the demand for label printers.
Label Printer Market Overview
A label printer is a type of computer printer that can print on cardstock (tags) or self-adhesive label material. Label makers are label printers that come with an integrated keyboard and display for standalone operation (i.e., not connected to a separate computer). Because they require specialized feed mechanisms to handle rolled stock or tear sheet (fanfold) stock, label printers differ from regular printers. A variety of label materials, such as paper and synthetic polymer (plastic) materials, are used by label printers.
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Label Printer Market: Strategic Insights
Market Size Value in US$ 4,715.4 Million in 2019 Market Size Value by US$ 7,494.4 Million by 2027 Growth rate CAGR of 6.3% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Label Printer Market: Strategic Insights
| Market Size Value in | US$ 4,715.4 Million in 2019 |
| Market Size Value by | US$ 7,494.4 Million by 2027 |
| Growth rate | CAGR of 6.3% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Label Printer Market Drivers and Opportunities
Rise in the retail industry to Favor Market
Across the globe, the rise in disposable income and the purchasing power of consumers are increasing, leading to the buying of various retail products. In addition, the population growth also results in the demand for retail products. Thus, the growth in the retail sector and e-commerce industry generates the demand for equipment and machinery such as label printers, which fasten the operations in these industries to meet the customer's demand on time. Printers, such as price label printers and barcode printers, guarantee that goods are appropriately tracked, priced, and displayed to consumers. As the information on the label helps retailers manage their inventory and store products efficiently, the demand for label printers is gaining traction in the retail industry.
Artificial Intelligence in Label Printing– An Opportunity in the Label Printer Market
Nowadays, with the digital landscape always changing, companies in all sectors are always looking for new and creative ways to improve their operations and obtain a competitive advantage. Label printing is just one of the many areas of business operations that artificial intelligence (AI) has the potential to completely transform. Businesses can use AI to automate the design process and produce beautiful labels by utilizing sophisticated algorithms. Large volumes of data, such as design elements, industry trends, and consumer preferences, can be analyzed by AI algorithms to create customized label designs for particular brands or products. Businesses can guarantee that their labels fulfill the highest standards of accuracy and aesthetic appeal by implementing AI-powered quality control systems. This factor will ultimately improve customer satisfaction and brand reputation. Such benefits of AI in label printing will generate the demand for advanced printers and will create lucrative growth opportunities for the label printer market.
Label Printer Market Report Segmentation Analysis
Key segments that contributed to the derivation of label printer market analysis are type, technology, and end-user industry.
- Based on type, the market is segmented into industrial, desktop, and mobile. The desktop segment held a larger market share in 2023.
- By technology, the market is segmented into thermal transfer, direct thermal, and non-thermal. The direct thermal segment held the largest share of the market in 2023.
- Based on the end-use industry, the market is segmented into manufacturing, retail, transportation & logistics, healthcare, FMCG, entertainment, and others. The retail segment held a larger market share in 2023.
Label Printer Market Share Analysis by Geography
The geographic scope of the label printer market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
In terms of revenue, North America accounted for the largest label printer market share. The US, Canada, and Mexico are among the key countries in North America. The rise in demand for label printers from the end-user industries, such as manufacturing, retail, logistics, and others, is fuelling the market growth in the region. The population growth in the region further generates the demand for various products and services that require labels carrying all the product-related information, which further fuels the demand for label printers.
Label Printer Market Report Scope
Label Printer Market News and Recent Developments
Label Printer Marketis evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:
- In February 2023, Epson announced its first label printers specifically for crafters and the home. The LabelWorks LW-C610 and LW-C410 are lightweight, portable, and easy to use from a mobile, making them ideal for de-cluttering, organizing, and crafting throughout the entire home & office. (Source: Epson, Press Release, 2023)
- In May 2023, Newland AIDC, a leading company in the automatic identification and data capture industry, announced the launch of its first label printer, the NLS-LP410. The new thermal transfer label printer is the latest addition to the company's superior comprehensive product line, which includes barcode scanners, mobile terminals, interactive kiosks, and OEM scan engines. (Source: Newland AIDC, Press Release, 2023)
- In April 2023, SATO, a global leader in barcode printing, labeling and auto-ID solutions, announced the launch of the CT4-LX-HC, a dedicated smart and intuitive 4” label printer for the healthcare sector. The CT4-LX-HC is an exceptionally versatile desktop printer designed to achieve next-level patient and consumer care. It also features an antimicrobial casing that can be wiped down with disinfectant wipes to minimize the risk of infections and recontamination in a clinical setting. (Source: SATO, Press Release, 2023)
Label Printer Market Report Coverage and Deliverables
The “Label Printer Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type , Technology , End-User Industry , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The global label printer market was estimated to be US$ 5.93 billion in 2023 and is expected to grow at a CAGR of 6.4% during the forecast period 2023 - 2031.
The rise in the retail industry and demand from the pharmaceutical sector are the major factors that propel the global label printer market.
Integration with artificial intelligence (AI) technology is anticipated to play a significant role in the global label printer market in the coming years.
The key players holding majority shares in the global label printer market are Toshiba Tec Corporation; Honeywell International Inc.; Postek Electronics Co., Ltd.; Wasp Barcode Technologies; and VIPColor Technologies Pte Ltd.
The global label printer market is expected to reach US$ 9.71 billion by 2031.
The incremental growth expected to be recorded for the global label printer market during the forecast period is US$ 3.78 billion.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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