Thursday, September 10, 2015

Barcode Printer Market to Reach $3.8 Billion by 2020: Study

The global barcode printer market will reach US $ 3.81 billion by 2020, according to a new study by Grand View Research, an international market research and consulting company.

Rise in demand for mobile barcode printers will drive market growth during the forecast period, the report noted, adding, usage of bar-coded wristbands for identification of patients in hospitals and individuals in important events has multiplied the demand in mobile barcode printer market.

The increase in number of organized retail stores worldwide has also helped the barcode printers’ market growth, since products embedded with barcode tags help more efficient and faster check-outs. Noting that the increased adoption of Radio Frequency Identification (RFID) will be a challenge to market growth in the next six years due to advantages offered by technology, the report further said, such a dynamic storage of data can be updated periodically.

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