Barcode Readers Market: Introduction
The global barcode readers market is projected to reach value of US$ 10.1 Bn by 2030. The barcode readers market is projected to expand at a CAGR of ~4% from 2020 to 2030. The expansion of the barcode readers market can be attributed to growing usage of barcode readers across the healthcare sector, and increasing demand for handheld barcode readers. North America is anticipated to lead the global barcode readers market in terms of revenue, followed by Europe, during the forecast period.
Growing e-Commerce an Opportunity for Market
Growth in the e-Commerce sector and rapid distribution of goods in order to gain competitive benefits have led to huge demand for barcode readers/scanners. This, in turn, provides significant opportunities for key vendors in the barcode readers market to develop digital solutions to enhance traditional processes.
- For instance, in December 2019, Datalogic S.p.A launched its new 2D image-based barcode reader “AV500,” specifically for end users such as retail and healthcare. The technology integrates image processing and vision systems that enable shoppers to easily and quickly execute transactions. It has been especially designed for retail & e-Commerce, airport baggage handling, and postal/parcel sortation.
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Additionally, as a substitute to in-house fulfillment, a large number of retail enterprises has shifted to 3PLs from internet order processing to handle these online requirements. This is expected to propel the usage of barcode readers in the logistics industry, as real time tracking and tracing is expected to become the new normal.
Barcode Readers: Market Segmentation
The global barcode readers market has been segmented based on form factor, type, end user, and region. In terms of form factor, the barcode readers market has been segmented into fixed barcode readers and handheld barcode readers. In terms of type, the market is split into wired barcode readers and wireless barcode readers. The end user segment of the barcode readers market is divided into retail & e-Commerce, transportation & logistics, warehouse, courier & postal services, manufacturing, healthcare, and others (aviation, port, etc.).
Barcode Readers Market: Regional Outlook
In terms of region, the global barcode readers market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America dominates the global barcode readers market and accounted for 38.9% share at the end of 2019. It is likely to maintain its dominance during the forecast period. The barcode readers market in North America is estimated to expand at a growth rate (CAGR) of 4% during the forecast period.
The barcode readers market in Asia Pacific is projected to expand at the fastest CAGR of 4.7% during the forecast period, due to increasing demand for 2D wireless barcode scanners for asset tracking. The barcode readers market in Europe and South America is expected to expand moderately during the forecast period.
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The report provides in-depth segment analysis of the global barcode readers market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which offers considerable opportunities or account for significant share has also been included as part of geographic analysis of the barcode readers market.
Barcode Readers Market: Competition Dynamics
The research study includes profiles of leading companies operating in the global barcode readers market. Key players profiled in the report include Zebra Technologies, Datalogic S.p.A, Honeywell International, SATO Europe GmbH, Cognex Corporation, Advantech Co., Ltd., Alien Technology, Bluebird Inc., Cipherlab Co., Ltd, and others.
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