The global barcode scanner market is expected to expand at a healthy rate between 2021 and 2031, compared to a 5% CAGR between 2016 and 2020. The market is expected to expand at a rapid pace due to strong demand from retail, e-commerce and logistics, and manufacturing facilities.
According to Future Market Insights’ (FMI) latest report, “The Barcode Scanner Market: Global Industry Analysis and Opportunity Assessment, 2021-2031,” the use of barcode technology in the retail sector is rapidly increasing. as well as production Bar code scanners have evolved into one of the most effective methods for recording product information with minimal manual effort.
In contrast to the 5% CAGR recorded from 2016 to 2020, the global market for barcode scanners is expected to grow at a healthy rate between 2021 and 2031. The market is expected to be checked and increased strongly at the lower back. Demand from retail, e-commerce, logistics, and manufacturing centres is expected to be checked and increased strongly.
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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, and medical practitioners and physicians can easily get information about medicines as well as their manufacturing dates.
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, technology has been consistently improved and made more efficient.
Today, barcode solutions are used in various fields due to their exponential ability to systematically record records such as product item, date of manufacture, date of delivery of the product to the seller and price. Sale. In addition, the emergence of e-commerce and interregional markets offering special offers across a wide range of industries has further expanded its software base.
Additional Highlights of the Report include:
The laser-based scanner is expected to remain 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 account for 32.3% revenue share of the market and will continue to be the most preferred barcode reader technology throughout the assessment period.
However, the camera-based reader is anticipated to see 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 the top choice of barcode scanners amongst consumers over the forecast period.
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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 the leading companies profiled in the FMI report.
Amongst regions, markets in the Asia Pacific excluding Japan (APEJ) and North America are expected to exhibit high growth potential. In APEJ, China and India are projected to achieve impressive growth in 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.
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