The identification of each and every unit produced is a necessary but a difficult task, which is greatly simplified by various numbers or unique code assigned to each product just after its production. Barcodes and QR codes are majorly preferred for this purpose. Thus, making the unique code of the product visible, a label printed with the code is attached to the product. Although the printing of these labels can be done with various methods, dot matrix printing is widely adopted due to its low cost and high availability. Dot matrix labels are simple paper labels with a suitable adhesive and printed with a dot matrix printer. Due to the simplicity and high availability of the dot matrix labels, the market for this product seems to be very large and evergreen across the globe.
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The various types of labels already have an established and expanding market due to the necessity of identification of each and every unit produced. Moreover, the paper is the material easily available in high volume, completely recyclable and biodegradable and provides ease of printing. Among various methods of printing labels, dot matrix is preferred in most of the applications as it costs much lower than any other printing method. The printing quality of the dot matrix printers is not much aesthetical, but due to the small size of the label and requirement of the barcode or QR code label with only manufacturers’ point of view, achieving higher aesthetics is not a concern. Thus, the dot matrix labels with paper as the base material are expected to have a stable and large market.
On the other hand, the market of the dot matrix labels market completely depends on the market of barcodes and QR codes. Thus, the dot matrix labels market is restricted by the new methods of coding such as RFID (radio frequency identification devices) tags, which has much higher capabilities over barcodes and QR codes and attracting the end-use industries towards the technology. Therefore, the dot matrix labels market is restricted by the advancement in technology for identification replacing the QR codes and barcodes from the end-user industries.
Due to high simplicity and introduction of the technology long ago, the market of dot matrix labels seems to be a large and established market all over the globe. Moreover, the reduced size of the dot matrix label printer has enabled the applicability of the dot matrix labels, such as used in public transports for tickets, labelling for domestic purposes and various others. Therefore, the regional market for the dot matrix labels can be estimated on the basis of end-use products in the region. North America is anticipated to account for a large market share due to large healthcare, food and beverage industry. Western Europe accounts for the major share of global exports of pharmaceutical products, and is also a large producer of industrial products.
The high GDP of both the developed regions signifies the higher use of compact dot matrix label printers for domestic purposes. Asia Pacific has a large requirement of FMCG (fast moving consumer goods) along with significant healthcare, food, beverage and textile industry, signifying a large market in the region.