Barcode Labels Market: Overview
Barcode labels are used for quick data storing and retrieving. Barcode labels include a representation of the company and product-related information in a line and number format. These barcode labels allow information to be read in fraction of a second, and also ensures the efficient flow of goods. Information regarding manufacture’s name, type of product, product number, and price are included in barcode labels. To increase product handling efficiency and enhance identification capabilities, manufacturers use barcode labels. The global barcode labels market is expected to expand during the forecast period, as these are also convenient for consumers. Barcode labels are used in different sectors such as FMCG, healthcare, transportation, and banking.
Barcode Labels Market: Dynamics
Barcode labels help extract the accurate data of products or services within microseconds, which acts as the key driving factor for the barcode labels market. They also significantly reduce the risk of human error. The second major factor for using this technology is data security. Every organization needs to encrypt their data with high level security that is not easily traceable. For the management of inventories and pricing at mass levels, manufacturers use barcode labels. Despite the positive outlook, a few technologies might hamper the growth of the barcode labels market. Radio Frequency Identifiers (RFIDs) have an IC chip that stores and retrieves data. These IC chips have more capacity to store data as compared to barcode labels. However, barcodes are more economical as compared to RFID technology. RFIDs consist of big programs that increase data recovering process time, which is very less as far as barcode labels are concerned. Barcode labels also work effectively on metal surfaces, and are also resistant to moisture interaction. On the reverse side, RFIDs do not function well in such conditions. The collision of data happens when RFIDs are used for multiple code scanning at the same time, which is not the case with barcode labels.
Barcode Labels Market: Segmentation
Depending upon code writing technology, the combination of numbers and alphabets, and as per industry standards, the barcode labels market is segmented as:
On the basis of technology, the barcode labels market is segmented into:
- 1D Barcode Labels
- 2D Barcode Labels
- HD Barcode Labels
- Holographic Transparent Barcode Labels
On the basis of product type, the barcode labels market is segmented into:
- Thermal Transfer Labels
- Direct Thermal Labels
- Laser Sheet Labels
- Inkjet Labels
On the basis of end Use, the barcode labels market is segmented into:
- Food & Beverages
- Electronics and Electricals
- Consumer Goods
- Chemicals & Coatings
Some of the manufacturers in the global barcode labels market include:
- Brady Corporation
- Inotec Barcode Security Ltd.
- General Data Company Inc.
- The GT4 Group Company
Some of the Key Trends Observed in the Barcode Labels Market
The barcode labels market is continuously influenced by advancements in high-end technologies. Nowadays, barcode label scanners are available in smartphones too, which increases the convenience aspect. Latest barcodes in the form of 'Quick Response Codes' store 100 times more information in a smaller space, and arrange data in 2-directional way. This gives them a minimum error margin.
Barcode Labels Market: Regional Outlook
Retail sector growth in countries such as India, China, and Malaysia is expected to increase the demand for barcode labels during the forecast period. The Asia Pacific region is expected to witness significant growth opportunities in the next ten years. On the contrary, the U.S. and Germany have a highly developed retail sector. Therefore, it is anticipated that, these countries will register moderate growth in the barcode labels market. The demand for barcode labels from pharmaceutical companies is expected to be more in regions such as North America, Western Europe, and Asia Pacific. To have better networking and automation in libraries, barcode labels experience high demand in educational & institutional applications. In GCC countries, manufacturers are actively indulging in mergers and acquisitions, which impacts the retail sector, and, in turn, boosts the growth of the global barcode labels market.
The barcode labels market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The barcode labels market report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
Regional analysis includes –
- North America
- Latin America
- South Asia
- East Asia
- A detailed overview of the parent market
- Changing barcode labels market dynamics in the industry
- In-depth segmentation of the barcode labels market
- Recent industry trends and developments
- Competitive landscape of the barcode labels market
- Strategies for key players
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on the performance of the barcode labels market
- Must-have information for market players to sustain and enhance their market footprint