Global Barcode Reader Market is valued at approximately USD 7.4 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 6.3% over the forecast period 2023-2030. A barcode reader is a device used to capture and interpret information encoded in barcodes. Barcodes are graphical representations of data that consist of parallel lines or patterns of dots. They are widely used in various industries for product identification, inventory management, and tracking purposes. Barcode readers use optical sensors or laser beams to scan the barcode image and convert it into a digital format that can be read and processed by a computer or other electronic system. The Barcode Reader market is expanding because of factors such as increasing use in retail and manufacturing industries and the rising e-commerce industry across the globe.
In the e-commerce industry, barcodes play a crucial role in streamlining various operations, such as inventory management, order tracking, and logistics. Barcodes enable quick and accurate identification of products and help automate processes, resulting in increased efficiency and reduced human errors. Barcode readers are used to scan barcodes on products, packages, and shipping labels, providing real-time data capture and integration with e-commerce systems. According to the International Trade Administration, in the year 2019, the global sales from the e-commerce industry stood at USD 3354 billion which increased to USD 5424 billion in the year 2022 and it is projected to reach USD 6388 billion by year 2024. Thus, the rising e-commerce industry is driving market growth. In addition, rising industrial automation and IoT integration as well as rising technological advancement in barcode reader technology is creating lucrative growth in the market. However, the availability of different alternatives such as RFID (Radio Frequency Identification) or NFC (Near Field Communication) and the lack of Standardization stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Barcode Reader Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to factors such as the rising e-retail industry, rising technological advancements, rising presence of key market players, and adoption of digital technologies across various industries. Whereas, Asia Pacific is projected to grow at the fastest rate owing to factors such as rising e-commerce industry, rising number of e-retailers, rising development of barcode technology and rising industrial automation in the region.
Major market player included in this report are:
Zebra Technologies Corp
Honeywell International Inc.
SATO Holdings Corporation
Motorola Solutions, Inc.
Wasp Barcode Technologies, LLC
Unitech Electronics Co., LTD.
Recent Developments in the Market:
Ø In March 2023, Cognex Corporation released the DataMan 282 fixed-mount barcode reader, which comes with an optional dome lighting attachment and a high-powered integrated torch (HPIT). By enhancing illumination contrast and minimizing glare and background interference, these lighting components improve the product’s ability to read direct-part marks (DPMs).
Ø In Aug 2021, Code Corporation, a leader in barcode scanning and data capture technology, introduced the Code Scanner 5200 (CR5200), a fast, omnidirectional scanner for 1D and 2D barcode symbologies. The CR5020 and CR5025 are now End of Life (EOL), and the CR5200 offers a number of improvements over its forerunners.
Global Barcode Reader Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, Application, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Logistics and Warehousing
Retail and Wholesale
Middle East & Africa
Rest of Middle East & Africa