Future Market Insights (FMI) in its latest report titled “Barcode Scanner Market: Global Industry Analysis and Opportunity Assessment, 2021 to 2031” reveals that the 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.
Due to their exponential capabilities in methodically capturing data like product count, date of manufacturing, the date the product was provided to the store, and selling price, barcode systems are currently being deployed across numerous fields. Also, the development of intra-regional marketplaces and e-commerce, which provide specialised services to a variety of industries, has broadened its application base.
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The healthcare sector is also seeing a rise in the use of barcode scanners due to their innovative features and technological advantages. Medical professionals and clinicians may readily obtain information on medications, including their manufacturing dates, thanks to barcode technology, which can also help correct medication errors.
According to FMI, the market for barcode scanners will be worth $7 billion globally in 2021. The industrial, e-commerce, healthcare, and retail sectors’ high demand is likely to support the market’s expected strong growth.
For retailers all around the world, the introduction of barcode technology has significantly reduced the headaches of tracking supply and commodity sale data. Technology has steadily advanced and become more effective over time.
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.
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. The use of barcode scanners in the retail and commercial sector continues to be the highest and is expected to account for a major chunk of revenue over the forecast period. Meanwhile, the healthcare industry is swiftly adopting barcode technology as well.
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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Key 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
- Asia Pacific excluding Japan (APEJ)
- Japan
- Middle East and Africa (MEA)
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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