The Latest report by Insight Partner on Label Printer Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Type (Industrial, Desktop, and Mobile), Technology (Thermal Transfer, Direct Thermal, and Non-Thermal), End-User Industry (Manufacturing, Retail, Transportation & Logistics, Healthcare, FMCG, Entertainment, and Others)
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.
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The fast-moving consumer goods (FMCG) industry is growing at an exponential rate pertaining to the continuous emergence of new players in the market and increasing customer base of long-established players. Developed and developing countries are experiencing a significant surge in the demand for FMCG products; thus, the number of small and medium-sized enterprises (SMEs) is increasing in the FMCG market. The rising number of FMCG product manufacturers across the world generates substantial demand for labeling technologies, which, in turn, bolsters the growth of the label printer market.
Impact of COVID-19 Pandemic on Label Printer Market
According to the report by the World Health Organization (WHO), the US, India, Turkey, Brazil, Spain, Germany, Italy, France, the UK, Russia, Iran, and China are among the worst affected countries due to the COVID-19 outbreak. On September 2, 2020, there were ~25,602,665 confirmed COVID-19 cases with ~ 852,758 total deaths globally and the number is growing at varying rates in various countries. The COVID-19 crisis is affecting the industries across the world and the global economy has witnessed the worst hit in 2020 and is likely to continue in 2021. The pandemic is creating significant disruptions in various industries, such as retail and transportation & logistics.
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