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Barcode Printers Market Projected to Reach $13,510.6 Million, Globally, By 2032 at 13.7% CAGR: Allied Market Research

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The rising demand for mobile printers and the growing adoption of barcode printers in the manufacturing industry are anticipated to drive the growth of the global barcode printers market during the forecast period from 2023 to 2032. The North America region is predicted to hold the majority of market share by 2032.

PORTLAND, Ore., Aug. 18, 2023 /PRNewswire/ — Allied Market Research has recently published a report, titled,Barcode Printers Market By Product Type (Desktop Printer, Mobile Printer, and Industrial Printer), Printing Type (Thermal Transfer, Direct Thermal, and Others), and End-User Industry (Manufacturing, Retail, Transportation and Logistics, Healthcare, and Other): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the global barcode printers market generated $3,758.6 million in 2022, and is anticipated to generate $13,510.6 million by 2032, witnessing a CAGR of 13.7% from 2023 to 2032.


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Prime Determinants of Growth

The rising demand for mobile printers, the growing demand for industrial printers across numerous industrial sectors, and the rising usage of barcode printers for streamlining logistics processes are the major factors predicted to drive the growth of the global barcode printers market in the forecast timeframe. However, the high costs associated with barcode printers and the strict regulations in the printing industry may hamper the barcode printers market growth in the coming period. On the contrary, the integration of advanced connectivity & wireless technologies and the growing usage of electronic shelf labels & smart label printers provides are expected to offer growth opportunities for expansion of the barcode printers market in the 2023-2032 forecast period.

Report Coverage and Details:

Restraints

Report Coverage

Details

Forecast Period

2023–2032

Base Year

2022

Market Size in 2022

$3,758.6 million

Market Size in 2032

$13,510.6 million

CAGR

13.7 %

No. of Pages in Report

309

Segments Covered

Product Type, Printer Type, End-User, and Region

Drivers

Growing adoption of barcodes in manufacturing industry

Rise in demand for wireless mobile printers

Opportunities

Incorporation of computer systems with barcode printers

Increasing focus of key market players on producing barcode printers with advanced features

Restraints

High initial investment cost

 

COVID-19 Scenario:

  • The outbreak of the COVID-19 pandemic has had a significant influence on the growth of the global barcode printers market. While the epidemic caused disruptions in the supply chain, it also accelerated the adoption of digitized and contactless solutions, creating novel avenues for growth in sectors like logistics, healthcare, and e-commerce.
  • The barcode technology proved invaluable during the crisis in promoting a safer and more efficient manufacturing environment. Retail and e-commerce sector also actively accepted barcode printers to cater to the relentless rise of e-commerce sales in the wake of lockdowns.
  • The barcode printers market is projected to show steady growth in the future as the demand for efficient supply chain management is increasing and people are shifting towards online shopping.

Industrial Printer Sub-segment to be Highly Dominant During the Forecast Period

The industrial printer sub-segment accounted for the major share of 48.5% in the barcode printers market in 2022 and is expected to continue to maintain its dominance during the forecast period. The dominant growth of the sub-segment is mainly because industrial printers are long-lasting and high-quality computer printers used to print barcodes onto tags, labels, packages, and others. Besides, the growing usage of industrial printers in various sectors, such as warehouses, retail stores, and manufacturing factories, as they are tough and dependable is driving the sub-segment’s growth.

Thermal Transfer Sub-segment to Hold the Majority of Market Share by 2032

The thermal transfer sub-segment accounted for the highest market share of 40.7% in 2022 and is expected to witness significant growth during the forecast period. This is mainly owing to the adaptability, dependability, and capacity of thermal transfer printers to create highly legible barcodes in difficult conditions. In addition, these printers provide high-quality printing, are affordable, and majorly used in manufacturing, healthcare, and electronics sectors.

Manufacturing Sub-segment to Flourish Immensely During the Forecast Period

The manufacturing sub-segment accounted for the highest market share of 31.6% in 2022 and is predicted to continue to hold maximum share by 2032. The strong growth of the sub-segment can be attributed to the crucial role of barcode printers in the manufacturing industry in optimizing production processes, assuring accurate inventory management, and enhancing overall supply chain efficiency. Additionally, barcode printers are widely used in the manufacturing industry to create tags and labels that facilitate streamlined tracking as well as identification of equipment, materials, and products.

North America Market to Hold Majority of Market Share by 2032

The North America region accounted for the highest share of 40.0% in the global barcode printers market in 2022 and is expected to continue to maintain its dominance during the forecast period. This is mainly because North America has a well-developed infrastructure and heavily invests on R&D. The persistent growth of the retail & e-commerce industries, along with the rising preference of people for online shopping in the U.S. and Canada, are also anticipated to drive the demand for barcode printers across the region.

Want to Access the Statistical Data & Graphs, and Key Players’ Strategies: https://www.alliedmarketresearch.com/purchase-enquiry/35366 

Leading Players in the Barcode Printers Market:

  • Dascom
  • Zebra Technologies Corp.
  • Printronix, Inc.
  • Oki Electric Industry Co., Ltd.
  • SATO Holdings Corporation
  • Honeywell International Inc.
  • Toshiba Tec Corporation
  • Canon Inc.
  • Avery Dennison Corporation.

The report provides a detailed analysis of the key players of the global barcode printers market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of barcode printers market players to showcase the competitive scenario.

Key Benefits For Stakeholders:

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the barcode printers market analysis from 2022 to 2032 to identify the prevailing barcode printers market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the barcode printers market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global barcode printers market trends, key players, market segments, application areas, and market growth strategies.

Barcode Printers Market Key Segments:

By Product Type:

  • Desktop Printer
  • Mobile Printer
  • Industrial Printer

By Printing Type:

  • Thermal Transfer
  • Direct Thermal
  • Others

By End-User Industry:

  • Manufacturing
  • Retail
  • Transportation and Logistics
  • Healthcare
  • Other

By Region:

  • North America (U.S., Canada, and Mexico)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, Netherlands, Belgium, Poland, and Rest of Europe)
  • Asia-Pacific (China, Japan, India, South Korea, Australia, Malaysia, Thailand, Philippines, Indonesia, and Rest of Asia-Pacific)
  • LAMEA (Latin America, Middle East and Africa)

Procure Complete Report (309 Pages PDF with Insights, Charts, Tables, and Figures) @ https://bit.ly/3QGXMXd 

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Personal 3D Printers Market By Type (Hardware, Software, and Services), Material (Plastic, Metal, Ceramic, Resins, and Other), Technology (Fused Deposition Modeling (FDM), Stereolithography (SLA), Digital Light Processing (DLP), Continuous liquid Interface Production (CLIP), Selective Laser Sintering (SLS), Selective Deposition Lamination, Multi Jet Fusion, Polyjet, Selective Laser Melting (SLM), and Others), Form (Filament, Powder, and Liquids), Additive Manufacturing Process (Material Extrusion, Powder Bed Fusion, Photopolymerisation, Material Jetting, and Sheet Lamination), and Application (Education, Entertainment, Photography, Architecture, Fashion & Jewelry, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Wilmington, New Castle,
Delaware 19801 USA.
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Blockchain

Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest

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Venture capital funding for cryptocurrency and blockchain projects has seen a notable resurgence in the first quarter of 2024, marking its first quarterly rise since 2021. Crunchbase data released today indicates that Web3 startups secured nearly $1.9 billion in funding across 346 deals during this period. This represents a substantial 58% increase from the previous quarter, offering a glimmer of hope amidst the ongoing downward trend in overall crypto VC interest.

The recent surge in funding can be attributed to investors adopting a more long-term perspective on Web3, as opposed to the hype-driven “tourist investors” predominant in recent years. Chris Metinko, the author of the report, notes that investors are shifting their focus to the AI sector, indicating a change in investment strategy. There is a growing interest in supporting the foundational infrastructure of the decentralized internet, rather than solely concentrating on crypto wallets and lending platforms, which attracted significant investments during the peak period of 2021 to 2022.

While large funding rounds were relatively uncommon in Q1, several notable investments stood out. Exohood Labs, a company integrating AI, quantum computing, and blockchain, secured a remarkable $112 million seed round at a valuation of $1.4 billion. EigenLabs, an Ether token “restaking” platform, raised $100 million in a Series B round led by a16z crypto. Additionally, Freechat, a decentralized social network leveraging blockchain technology, secured $80 million in a Series A round. These investments, among others, contributed to the increase in valuations and the emergence of four new Web3 unicorns in Q1.

Despite the recent progress, the future trajectory of Web3 remains uncertain. Metinko suggests that the next few quarters will be pivotal in determining the industry’s direction. While investors anticipate a rebound in investment as the decentralized internet evolves, it may take another year for venture capital activity to stabilize after the exuberance of 2021. Factors such as the approval of U.S. spot Bitcoin exchange-traded funds and the upcoming Bitcoin halving could also influence the market, given the rising prices of Bitcoin and Ether.

A noteworthy example of significant funding in the Web3 space is Monad Labs’ recent successful funding round, which secured $225 million led by Paradigm. Monad Labs is a layer-1 blockchain compatible with Ethereum, offering faster transaction processing. This funding round harkens back to the golden era of crypto funding in 2021-2022, when L1 solutions attracted substantial investments.

Earlier this year, Balance, a digital asset custodian based in Canada, announced that it had once again reached $2 billion in assets under custody (AUC) amidst the recent market recovery. Similarly, Korea Digital Asset (KODA), the largest institutional crypto custody service in South Korea, has experienced remarkable growth in crypto assets under its custody, expanding by nearly 248% in the second half of 2023.

Analysts at Bernstein Research project that crypto funds could reach an impressive $500 billion to $650 billion within the next five years, representing a significant leap from the current valuation of approximately $50 billion. This forecast underscores the growing optimism and potential for substantial growth within the crypto industry in the coming years.

Source: cryptonews.com

The post Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest appeared first on HIPTHER Alerts.

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Blockchain

ASIC cracks down on blockchain mining firms

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Three blockchain mining companies – NGS Crypto, NGS Digital, and NGS Group – along with their directors, Brett Mendham, Ryan Brown, and Mark Ten Caten, are facing legal action from the Australian Securities and Investments Commission (ASIC) for allegedly operating without a license, in violation of Australia’s Corporations Act. ASIC initiated legal proceedings against these entities on April 9, citing concerns about their non-compliance with financial regulations and their solicitation of Australian investors.

According to ASIC, the NGS companies promoted blockchain mining packages with fixed-rate returns to Australian investors, encouraging the transfer of funds from regulated superannuation funds to self-managed superannuation funds (SMSFs) for conversion into cryptocurrency. Approximately 450 Australians invested a total of around USD 41 million in these packages, raising concerns about potential financial losses.

The legal action filed by ASIC alleges that the companies violated section 911A of the Corporations Act, which prohibits companies from providing financial services without a valid Australian Financial Services Licence (AFSL). ASIC is seeking interim and final court orders to prohibit the NGS companies from offering financial services in Australia without an AFSL.

ASIC Chair Joe Longo emphasized the importance of investors carefully considering the risks before investing in crypto-related products through their SMSFs. Longo stated that ASIC’s actions send a message to the crypto industry about the regulator’s commitment to ensuring compliance with regulations and protecting consumers.

In a separate development, the Federal Court appointed receivers for the digital currency assets associated with the NGS companies and their directors to safeguard these assets amid concerns about the risk of dissipation. Mendham was also issued a travel restriction order, preventing him from leaving Australia.

While a court date for the proceedings has not been set, ASIC’s investigation is ongoing, with the regulator continuing to gather evidence and build its case. It is worth noting that the investigated companies share a similar name with NGS Super, a legitimate Australian pensions provider, leading to potential confusion among investors. NGS Super clarified that it is not involved in selling cryptocurrency or related products and has taken legal action to protect its trademark and members’ interests.

Source: iclg.com

The post ASIC cracks down on blockchain mining firms appeared first on HIPTHER Alerts.

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Blockchain

Crypto and Blockchain Weave Deeper Into the Biometrics Space – Identity News Digest

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AuthID Inc. has formed a strategic partnership with the National Notarial Centralized Verification System (NNCVS) to integrate biometric identity verification into NNCVS’s online notary platform. NNCVS, a provider of nationwide online services for notaries, aims to transition from a local, in-person framework to a more secure, digital model. By leveraging AuthID’s platform, NNCVS will authenticate the identities of notarial agents and their clients using biometric checks that compare selfies with ID document photos. This enhancement ensures heightened security throughout users’ interactions with the service.

iVALT has introduced a mobile app called OnDemandID, designed to enable users to verify the identity of individuals during phone calls, video calls, or online interactions with a single click. The app employs multiple verification elements, including biometrics, device ID, and location-based parameters like geofencing and time windowing, to prevent deepfake attacks and identity fraud. OnDemandID prioritizes user privacy by storing biometric data locally on the device and refraining from tracking user movements. Additionally, iVALT offers integration into existing enterprise mobile apps, providing a solution to enhance caller verification processes within corporate environments.

Keyless, a company specializing in secure facial recognition, has partnered with EnQualify, an AI-powered Know Your Customer (KYC) verification provider, to enhance online identity verification. Keyless’s privacy-centric ZKB technology will integrate with EnQualify’s AI for initial user verification, enabling a seamless and secure authentication process. This collaboration eliminates the need for repetitive steps and data storage, offering a faster and more user-friendly verification experience while ensuring robust security measures.

Australian fintech Waave has launched its Wallet app to enhance security and convenience for online payments. Integrated with Waave’s Pay by Bank system, Wallet utilizes fingerprint or facial recognition for secure authentication, eliminating the need for passwords and card details. This approach addresses concerns about online fraud, providing a streamlined payment process for consumers and merchants alike. Additionally, Wallet will introduce expense tracking features later in 2024, further enhancing its utility for users.

BeatBit Wellness Lab has introduced the CUDIS ring, a wearable device focused on user-controlled health data management. Powered by Solana blockchain technology, CUDIS tracks biometric data and offers personalized health insights using AI algorithms. Users can contribute anonymized data to a research network and earn rewards, emphasizing data ownership and privacy. The CUDIS ring integrates securely with other Solana and Web3 products, offering users a comprehensive health monitoring solution within the decentralized ecosystem.

Worldcoin has unveiled World Chain, a new blockchain platform designed to prioritize verified human users over bots, aiming to reduce network congestion and transaction fees. Integrated with the Worldcoin protocol’s Proof of Personhood, World Chain provides verified users with priority blockspace and gas allowances. This Layer 2 solution, secured by Ethereum, offers developers access to a large pool of verified users for deploying utility applications. World Chain is set to be open source and permissionless, with plans for community-based governance in the future.

New South Wales (NSW) has launched an Australia-first trial to test digital birth certificates, involving over 18,000 children associated with specific educational institutions. Led by the NSW Registry of Births, Deaths and Marriages in collaboration with the Department of Customer Service, the pilot explores the use of digital certificates with the same legal validity as traditional paper versions. Digital birth certificates aim to simplify administrative tasks and offer enhanced security and convenience, particularly in disaster-prone areas where paper documents could be compromised.

Source: findbiometrics.com

The post Crypto and Blockchain Weave Deeper Into the Biometrics Space – Identity News Digest appeared first on HIPTHER Alerts.

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