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The Global Label Printing Software Market size is expected to reach $753.4 million by 2028, rising at a market growth of 5.5% CAGR during the forecast period
To create and print labels for different company operations like inventory management or shipping, label printing software is employed. The term "label maker" is often used to refer to a standalone label printer with an integrated keyboard and monitor.
New York, Jan. 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Label Printing Software Market Size, Share & Industry Trends Analysis Report By Component, By Deployment Mode, By Organization Size, By Vertical, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06412054/?utm_source=GNW
Because they need unique feed mechanisms to handle rolled material or rip sheet (fanfold) stock, label printers vary from standard printers. Various types of wireless, parallel, Ethernet and Universal Serial Bus (USB) are all frequently used connections for label printers. Supply chain management, retail price marking, package labels, tagging blood and laboratory specimens, and fixed asset management are just a few of the many uses for label printers.
To create and print labels for different company operations like inventory management or shipping, label printing software is employed. Companies may produce customized labels using this kind of software that adhere to client demands or legal standards. Logistics experts, as well as warehouse and inventory departments, employ label printing software.
Software suppliers or companies that provide label printing devices may offer this kind of software. Label printing software must be compatible with the most popular kinds of label printers when provided separately. Since barcodes are necessary for the majority of labels, label printing systems include barcode software.
The usage of printers, copiers, and multifunction devices (MFDs) is optimized with the aid of print management software, which also offers insights on who, what, and why printing is. Numerous advantages of the program include enhanced security, adherence to user authentication procedures, device monitoring, and more. It may also give reporting, cost analysis, user data, and more.
COVID-19 Impact Analysis
The COVID-19 pandemic had a detrimental effect on the market expansion for label printing software. This is because there are more smartphone users, more connected devices are being used, and more people are shopping online, all of which are providing lucrative opportunities for the growth of the market for label printing software. Through 2020, COVID-19 is the cause of catastrophes in the world’s economic, social, energy, and medical sectors. Lockdowns were imposed in many countries to reduce the number of COVID-19 patients, and manufacturing was halted in a variety of industries, including semiconductors, tourism & hospitality, IT & Telecom.
Market Growth Factors
Higher Brand Adherence
Customers are more likely to remember a firm and be able to recognize the brand just by looking at the label if it has a distinctive design and an appealing label. Once they have made this connection in their minds, they will keep returning to the well-known and reputable brand that first captured their interest. Because of this, it’s crucial that all of the labels and other marketing materials have the same logo and branding message to help customers remember the brand.
Reducing the Consumption of Office Paper
Due to the favourable benefits that green initiatives may have on their consumers and their financial lines, organizations are increasingly adopting one or more of them. Additionally, a number of companies are focusing on reducing their workplace paper consumption as a fast, simple, and effective approach to meet more challenging sustainability goals. Printing software allows businesses to increase their efficiency over time. Instead of simply providing one or two ad hoc ways to save paper, it allows businesses of all sizes to do away with print servers, improve print management, and drastically cut consumable waste.
Market Restraining Factors
Increase in the Selling of Fraudulent Goods
According to a recent analysis from the OECD and the EU’s Intellectual Property Office, the trade in counterfeit and pirated products has grown significantly in recent years despite stagnation in overall trade volumes. It currently accounts for 3.3% of all worldwide commerce. According to Trends in Commerce in Counterfeit and Pirated Goods, the value of imported counterfeit goods globally increased from USD 461 billion in 2013 to USD 509 billion in 2016 (or 2.5% of global trade). In the European Union, counterfeit commerce increased from 5% in 2013 to 6.8% of imports from non-EU nations.
Component Outlook
Based on component, the label printing software market is segmented into solutions and services. With the largest revenue share in 2021, the solution category led the label printing software market. The efficiency of a company’s supply chain is crucial to its success in the competitive world of today. Fast transactions and precise inventory are necessary for an efficient supply chain, making a full professional-grade labeling solution essential. If a business has a comprehensive professional labeling system, it will have hardware that is appropriate for its environment, the labels it requires, and software that makes printing the appropriate labels simple.
Solution Outlook
Based on solution, the market for label printing software is segmented into print management, device management, discovery and design, document imaging, and others. In 2021, print management segment dominated the market with the largest revenue share. An organization may manage and regulate printing via print management. Without a print management system, managing local printer settings and driver upgrades would fall to end users or administrators, which is a laborious and sometimes irritating procedure.
Deployment Outlook
Based on deployment, the label printing software market is categorized into on-premise and cloud. The on premise segment garnered significant share in the label printing software market in 2021. The fact that the on-premise segment allows consumers greater control over how security is developed, monitored, and contained is what spurs the adoption of on-premise-based managed print services. Additionally, on-premise solutions are typically easier to grasp for new users of print-managed services; but cloud solutions provide a degree of customizability that may make the system more intuitive for its user.
Organization Size Outlook
Based on the organization size, the label printing software market is classified into large enterprises and SMEs. In the market for label printing software, the large enterprise category had the highest revenue share. This industry is seeing a surge in the number of printer manufacturers that provide business process automation, document processing, and information management to help organizations achieve their objectives. To save expenses, large businesses are concentrating on automating document processes.
Vertical Outlook
Based on the verticals, the label printing software market is segmented into retail, BFSI, food & beverage, travel & hospitality, healthcare, IT & communication, and others. In 2021, the BFSI industry contributed significantly to the market for label printing software in terms of revenue. It is projected that increased customer demand for retail banking services will drive the market’s development. These services include speed, politeness, and accuracy. The growing need for the tools required to satisfy these expectations, as well as the desire to create tighter ties with customers, are other key factors that contribute to the market development in the BFSI industry.
Regional Outlook
Based on geography, the Label printing software market is classified into North America, Europe, Asia Pacific, and LAMEA. By highest revenue share, the North America region dominated the label printing software market in 2021. The considerable market share is a result of the United States having a substantial industrial base, government programs to support innovation, and high buying power. Print management systems are often used by businesses using big data solutions to save costs, enhance operations, and increase worker productivity.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include TE Connectivity Ltd., Hewlett-Packard Enterprise Company, Honeywell International, Inc., Canon, Inc., Nuance Communications, Inc. (Microsoft Corporation), Xerox Corporation, Seiko Epson Corporation, Lenovo Group Limited, HID Global Corporation, and ePaper, Ltd
Scope of the Study
Market Segments covered in the Report:
By Component
• Solution
o Print Management
o Device Management
o Discovery & Design
o Document Imaging
o Others
• Services
By Deployment Mode
• Cloud
• On-premises
By Organization Size
• Large Enterprises
• Small & Medium Enterprises (SMEs)
By Vertical
• Retail
• BFSI
• IT & Telecom
• Healthcare
• Travel & Hospitality
• Food & Beverages
• Others
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• TE Connectivity Ltd.
• Hewlett-Packard Enterprise Company
• Honeywell International, Inc.
• Canon, Inc.
• Nuance Communications, Inc. (Microsoft Corporation)
• Xerox Corporation
• Seiko Epson Corporation
• Lenovo Group Limited
• HID Global Corporation
• ePaper, Ltd
Unique Offerings
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06412054/?utm_source=GNW
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