LONDON, Feb 05, 2016 (BUSINESS WIRE) -- Technavio's latest report covers the present scenario and growth prospects for the global handheld label printer market during the period 2015-2019.
In this report, Technavio research experts announce their key market highlights for the global handheld label printer market. Their findings include:
Global handheld label printer market to reach USD 12.41 billion by 2019
The global portable printer market was valued at USD 9.78 billion in 2014 and is expected to reach USD 12.41 billion in 2019, growing at a CAGR of 4.88% during the forecast period.
The integration of wireless technologies is one of the key drivers for the market. Handheld label printers enable printing without the use of a PC and integrate wireless technologies that provide connectivity to the user. Through this connectivity, individuals can use software to design and print customized labels wirelessly from a PC or a mobile device. Users can also wirelessly transfer the design to the labeling tool for instantaneous printing.
"This is an advantageous feature for printing labels onsite, where input data can be compared to a database for the appropriate label to generate. Considering many operations today have wireless environments, the demand for such products is rising, and vendors are increasingly catering to these needs by launching labeling systems complete with software. For instance, the PT-E550W by Brother is a specially designed handheld labeler for industrial use," said Abhay Sinha, a lead analyst for tags and labels research at Technavio.
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Asia-Pacific (APAC) emerging as the leading region in the market
APAC was the largest regional segment of the global handheld label printer market, accounting for a market share of 33.56% in 2014. It was followed by Europe with 30.12% and North America with 24.22%. ROW (rest of world) accounted for 12.1% market share in 2014. By 2019, APAC is expected to slightly increase its market leadership, accounting for a share of 33.63%.
The handheld label printer market in APAC was valued at USD 1.08 billion in 2014 and is expected to reach USD 1.3 billion by 2019. The market is primarily driven by the digitalization of industries, a result of economic growth in the region. The rising number of small online retailers and businesses is expected to drive demand in the region as these businesses want to improve their inventory management and shelf labeling systems. The transportation industry is rapidly shifting to printed tickets in APAC, particularly in India and China, also facilitating the demand for portable printers.
Greater popularity of thermal printers emerging as a key trend for the market
Thermal printers have gained prominence in the handheld label printer market and are expected to maintain their position. Their low cost, quiet operation, good-quality printing capability, and easy integration make them popular options. Recent improvements made in thermal printing technology, including line-type heating elements that reduce the consumption of energy, have been driving their popularity.
By reducing the size of the heating element by nearly half (compared to traditional elements), the technology uses 30% less power. This has led to major reductions in the size and weight of the printers and improved efficiency as it heats a smaller area with a special type of partial glaze. The resultant print heads provide a lower operating voltage of nearly 3 volts, as compared to the conventional average of 7 volts, reducing the energy required to run the printer. Users tend to value lower prices and simplicity of operation over image and text resolution quality, therefore thermal handheld printers have usurped inkjet and laser printing technologies.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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