The global barcode scanner market is estimated to be valued worth US$ 7 Bn in 2021, according to FMI. The market is expected to register robust growth on the backdrop of healthy demand from retail, e-commerce and logistics, healthcare, and manufacturing sectors.
The advent of barcode technology has greatly reduced the hassles of tracking supply and commodity sale records for retailers across the globe. Over the years, the technology has been consistently improved and made more efficient.
Currently, barcode solutions are being used across various domains owing to their exponential capabilities in systematically recording information such as product count, date of manufacturing, date on which the product was supplied to the retailer and selling price. Moreover, the emergence of e-commerce and intra-regional markets that offer specialized services to a wide range of sectors has further expanded its application base.
Future Market Insights (FMI) in its latest report titled “Barcode Scanner Market: Global Industry Analysis and Opportunity Assessment, 2021–2031” reveals that use of barcode technology is rapidly rising in both retail and manufacturing industries. Barcode scanners have become one of the best solutions for recording product information without making any major manual effort.
The technological advantages and cutting-edge features of barcode scanners are also making them popular in the healthcare industry. Barcode technology can help rectify medication errors, medical practitioners and physicians can easily get information about medicines as well as their manufacturing dates.
The report further cites that the global barcode scanners market will account for about US$ 7 Bn by 2031-end. During the same duration, the market is also expected to reflect a CAGR of 6.4% in terms of volume, reaching 38.7 Mn units over 2031-end.
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2016-2020 Barcode Scanner Market Outlook in Comparison to 2021-2031 ForecastThe global barcode scanner market is estimated to grow at a healthy pace between 2021 and 2031 as against 5% CAGR registered in 2016 – 2020. The market is expected to register growth at a robust pace on the back of healthy demand from retail, e-commerce and logistics, and manufacturing facilities.
The demand for barcode scanners will accelerate with top 5 providers holding nearly 30% of barcode scanner market in 2021.
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.
Additional Highlights of the report Include:Laser-based scanner is expected to remain as the prime technology. Laser scanners are widely used in regions with established manufacturing and retail sectors such as Western Europe and North America. By the 2021-end, laser scanners are estimated to accounts for 32.3% revenue share of the market and will continue to be the most preferred barcode reader technology throughout the assessment period.
However, camera-based reader is anticipated to see the fast adoption as these scanners are innovative and configured with advanced 2D imaging technology. Based on product type, portable/handheld scanners are expected to remain top choices of barcode scanners amongst consumers over the forecast period.
Owing to characteristics such as faster print speed and versatility, demand for portable/handheld barcode scanners is rapidly increasing in various parts of the world. Use of barcode scanners in the retail and commercial sector continues to be the highest and is expected account for a major chunk of revenue over the forecast period. Meanwhile, the healthcare industry is swiftly adopting the barcode technology as well.
Amongst regions, markets in Asia Pacific excluding Japan (APEJ) and North America are expected to exhibit high growth potentials. In APEJ, China and India are projected to achieve impressive growth of their barcode scanner market. By 2017-end, the region is projected to account for a revenue share of 29.5%, which is expected to increase to 33.8% towards the end of the forecast period.
Market players are targeting APEJ as their key sales region. Zebra Technologies Corporation, Honeywell International Inc., DataLogics S.P.A, Cognex Corporation, OCOM Technologies, Wasp Barcode Technologies, JC Square Inc., SATO Holdings Corporation, Scandit AG and Toshiba TEC Corporation are some of leading companies profiled in the FMI report.
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Market segmentationBy 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