Top 10 Prominent Participants in Label Printer | New On-Demand Label Printer Is An Innovative Technology
Label printer is designed to efficiently manage and enhance of the printing process on the labels. It requests user to print light weight advanced technological labels used for tracking the products as well as consignments. The label printer providers are more inclined towards manufacturing label printers that are well integrated with non-thermal technology due to the customers' higher adoption rate. Furthermore, the growing demand for identification labels among various industries such as pharmaceutical, medical device, automotive components, and electronics, among others, is generating substantial demand for advanced label printing technology.
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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 inventory of products arena is expanding at a faster pace encircling industry such as FMCG, manufacturing, retail, healthcare, and transportation & logistics. The counterfeit products are tough to discriminate with the original products. The duplicate products adversely affect the brand name of the companies as well as countries as these forged products pose a danger to the end-user industries. The ever-increasing retail and transportation & logistics business has led to a rise in counterfeit product trade. The government of several countries is constantly imposing stringent rules and regulations on the import and export of goods and commodities without product validation labels. Thus, the adoption of label printers across these industries is boosting and is anticipated to grow further.
The rise in digitalization is one of the significant factors supporting the innovative customer-centric business framework. Nowadays, creativity plays an essential role to gather customers’ attention; thus, digital label printing infrastructure offers market players considerably broad opportunities. The factors such as increasing application of automatic identification and data capture (AIDC) technology for enhanced productivity, growing concerns related to product safety and anti-counterfeiting, and rising use of thermal printing technology for printing applications are positively impacting the label printer market.
List of the Top Key Companies:
1. Toshiba Tec Corporation
2. Honeywell International Inc.
3. Postek Electronics Co., Ltd.
4. Wasp Barcode Technologies
5. VIPColor Technologies Pte Ltd.
6. GoDEX International Co., Ltd.
7. Zebra Technologies Corp.
8. TSC Auto ID Technology Co., Ltd
9. Sato Holdings Corporation
10. Seiko Epson Corporation