Fort Collins, Colorado, April 29, 2024 (GLOBE NEWSWIRE) --
Business transformation in the retail segment is a major market driver.
The transformation of the retail business model stands out as a significant driver behind market expansion. With an increasing shift towards digitization, businesses are reaping benefits such as enhanced customer insights, improved inventory management, broader consumer outreach, and elevated consumer experiences. According to the U.S. Census Bureau, e-commerce retail sales in the U.S. surged, marking a 7.6% increase in 2023 compared to 2022. This surge accounted for approximately 15.4% of total retail sales by September 2023, reaching a substantial USD 284.1 billion. Consequently, companies are reevaluating their value chains, with notable technological advancements like online fulfillment, data analytics, AI, machine learning, and process automation driving this reevaluation.
Moreover, innovation in label printing technology emerges as another catalyst fueling market growth. The global label printing market remains in a state of continual evolution, responding to evolving demands from manufacturers and end-users alike. Key among the challenges facing manufacturers is the adoption of suitable technology and the accompanying change management efforts. Considerations around environmental sustainability and energy consumption also wield significant influence over the adoption of future technologies. Noteworthy next-generation technologies expected to shape the market landscape include lightweight label formats, recyclability enhancements, automation integration, and anti-counterfeit solutions. Introducing PC-based and touch-screen featured label printing scales further opens avenues for market expansion. Thus, the convergence of technological advancements and the rising adoption of label printing scales within the retail sector is anticipated to fortify market growth.
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Segmentation Overview:
The label printing scales market has been segmented into price range, type, application, and region.
The dual display segment accounted for a significant market share in 2023.
- Based on the type, the market is further sub-segmented into dual and single-display types. The dual display segment held the significant label printing scale market share and accounted for a revenue share of 50.5% in 2022. These label printing scales comprise a dual-sided display for the customer and the operator.
Supermarkets are the leading application segment and are projected to drive the segment share in the coming years.
- Based on the application, the market is further segmented into fresh food manufacturers, farmers' markets, roadside stands, convenience stores, and supermarkets. The supermarket segment is leading the label printing scales market in 2022 and accounted for a revenue share of 26.3%.
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Label Printing Scales Market Report Highlights:
- The label printing scales market growth is anticipated at a CAGR of 8.0% by 2032.
- The rising penetration of organized retail in emerging economies is expected to provide growth avenues for major players in the market.
- The Asia-Pacific region is projected to witness substantial growth in the coming years, attributed to businesses' high preference for e-commerce.
- Some prominent players in the label printing scales market report include METTLER TOLEDO, Adam Equipment Inc., Teraoka Seiko Co., Ltd., Rice Lake Weighing Systems, Dini Argeo S.r.l., Gram Group, OHAUS, Pinnacle Technology Corp., A&D Company Ltd., Bizerba, Hobart, CAS and Dibal.
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