Future Market Insights (FMI) in its latest report titled “Barcode Scanner Market: Global Industry Analysis and Opportunity Assessment, 2023 to 2033” reveals that the use of barcode technology is rapidly rising in both retail and manufacturing industries.One of the greatest ways to record product information without a lot of manual labour is to use barcode scanners.
Barcode systems are currently being applied in a variety of fields due to its exponential capabilities in meticulously recording data such as product count, date of manufacturing, date the product was delivered to the store, and selling price. Furthermore, the growth of intra-regional markets and e-commerce, which provide specialised services to a wide range of businesses, has widened its application base.
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Barcode scanners’ technological advantages and cutting-edge features are also making them popular in the healthcare field. Medical practitioners and physicians can readily obtain information about drugs and their manufacturing dates thanks to barcode technology.
The global barcode scanner market is estimated to be valued worth US$ 7 Billion 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.
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.
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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.
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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