Pune, India, May 2017 /PRNewswire/ – According to the new market research report, "RFID and Barcode Printer Market by Type (Industrial, Desktop, Mobile), Technology (Thermal Transfer, Direct Thermal, Inkjet), Resolution (Below 300 dpi, 301-600), Connectivity, Industry (Manufacturing, Retail, Healthcare) - Global Forecast to 2022", published by MarketsandMarkets, the market is expected to be valued at USD 4.81 billion by 2022, growing at a CAGR of 5.7 per cent between 2017 and 2022.

Some of the factors driving the growth of this market include the growth of the e-commerce industry; increasing demand for accurate and reliable data; and rising demand for eliminating human errors. Industrial printers held the largest size of the RFID and barcode printer market in 2016. Industrial RFID and barcode printers are used for applications such as cross docking, inventory management, lab sample tracking, receiving/shipping, reverse logistics, work-in-process tracking, compliance labeling, information labels, medical record labeling, order labeling, and prescription labeling. Industrial printers are expected to dominate this market during the forecast period due to the increasing demand in developing countries and the need for extracting all information of a particular asset. Due to the growth of the manufacturing industry, the demand for these printers is increasing.

The thermal transfer printing technology is expected to dominate the global RFID and barcode printer market between 2017 and 2022. Thermal transfer printing technology is the most widely adopted by various industries such as manufacturing, retail, education, and entertainment. In addition, the printers with this technology are used in printing labels and tags for books, magazines, brochures, cards, posters, and similar mass-market items. Moreover, thermal transfer technology is faster than other printing technologies and does not require special paper for printing. All the above-mentioned factors are driving the growth of the market for printers using thermal transfer printing technology.

APAC is expected to be the fastest-growing market for RFID and barcode printers during the forecast period. This market growth can be attributed to the growth in the retail industry and the development of the transportation infrastructure in this region. The major factors responsible for the growth of these sectors is rapid technological advancements and the high degree of industrialisation in the country are expected to create great opportunities for the RFID and barcode printer market in the country. The APAC region would continue to account for the highest rate for this market in the coming years. Transition toward organised retailing and smart manufacturing are some of the factors expected to drive the growth of the RFID and barcode printer market in APAC is expected to grow at a high rate.

The key players operating in this market include Zebra Technologies Corporation (US), Honeywell International Inc. (US), Toshiba TEC Corporation (Japan), Sato Holdings Corporation (Japan), TSC Auto ID Technology Co., Ltd. (Taiwan), Avery Dennison Corporation (US), Wasp Barcode Technologies (US), Postek Electronics Co., Ltd. (China), and Dascom Printer (Jiangmen) Co., Ltd (China).