Barcode Scanner Market Grow at a CAGR of over 7.6% Between 2021 -2031

As per newly released data by FMI, the barcode scanner market is estimated to be worth US$ 7 Bn in 2021. The market is expected to grow at a CAGR of over 7.6% between 2021 and 2031. Increase in healthcare sector is expected to increase the demand for barcode scanners over the assessment period.

Despite challenges posed by COVID-19 outbreak, the barcode scanner demand increased with a rapid shift from handheld laser scanning to imaging solutions.

North America will remain as a leading market, accounting for over 30% value share in 2021. Barcode scanner demand outlook for North America is expected to remain positive with the healthcare sector touted as leading contributor.

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With the digitalization of public distribution system and increase in the number of e-retailers, the market players have ample scope for expansion. Barcode scanners are being widely adopted across various industries due to their advantages such as reduced downtime, prevention of incorrect deliveries and robust control on tracking assets and quality information.

The increasing use of barcode technology as an automatic identification system to reduce human errors will emerge as a chief growth driver.

Besides this, the rising demand from healthcare sector is expected to drive growth during the forecast period. Healthcare centers are using latest barcode technology for managing medicinal records and for preventing errors in the data. Similarly, the increasing demand of barcode scanners in supermarkets and hypermarkets is propelling growth.

In order to cater to the demand from diverse sectors, market players are focusing on expanding their portfolio.

For instance, Cognex Corporation introduced an advanced series such as DataMan 8700, MX-1502 and others, which can read codes from as near as 15–30 cm to as far as 10 meters away, making it ideal for scanning barcodes on floor labels, rack labels on high shelves, and slips hanging from warehouse ceilings.

Similarly, Honeywell has recently unveiled new devices with disinfectant-ready housing like Xenon XP and Voyager XP. These scanners can capture the most difficult to read or damaged barcode easily.

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By Segment:

By Product Type

  • Portable/Handheld
    • Rugged Scanners
    • PDA Scanners
    • Automatic Readers
    • Others
  • Fixed Position
    • Stationary Scanners
    • Presentation Scanners
    •  Automatic Readers
    • Others

By End Use

  • Retail & Commercial
  • General Manufacturing
  • Healthcare
  • Logistics & Warehouse
  • Commercial Aviation
  • Defence
  • Others

By Technology

  • Pen Type Reader
  • Laser Scanner
  • CCD (Charge Coupled Device) Readers
  • Camera Based Reader
  • Omni Directional Barcode Scanner
  • Smartphone Based Scanner
  • RFID (Radio Frequency Identification Technology

By Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • MEA

Use of barcode scanners is rapidly growing in the retail and manufacturing industries in North America. Barcode scanners have become one of the best solutions for product information capturing. Retailers worldwide use barcodes for hassle-free recording of supplies and commodities.

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Barcodes imprinted on labels are pasted on products, which help in recording information regarding product count, date of manufacturing, date on which the product was supplied to the retailer, selling price, etc. When these products are scanned, the information is retrieved and monitored.

This entire process, which is completed within a few seconds, not only increases efficiency but also minimizes errors. This has helped retailers record their products and inventory on shop floors and warehouses. Major retailers such as Walmart, Carrefour, Costco and IKEA put barcodes on all their products. This in turn is driving the growth of the barcode scanner market in North America.

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Bluebird Corporation, Cognex Corporation, Datalogic S.p.A (Hydra S.p.A), DENSO Corporation, Honeywell International Inc., JC Square (GMO Hosting & Security Inc.), SATO Holdings Corporation, Scandit AG, Toshiba TEC Corporation, Zebra Technologies Corporation, etc.

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