In 2023, the barcode scanner market is anticipated to be worth US$ 8.10 billion, according to recently released FMI data. Between 2023 and 2033, the market is anticipated to grow at a CAGR of more than 7.6%. By 2033, the market is anticipated to be worth US$ 16.86 billion.
The market for barcode scanners is being driven by growth in the retail sector.
Both positive and negative effects on the firm were anticipated from internal and external factors. The market has grown as a result of the expansion of the retail industry in developing nations.
The introduction of new products into the market, the growth of the e-commerce sector, and the development of 2D imaging technology have all contributed to the market’s rise on a global scale over the past few years.
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What May Curb Demand for Barcode Scanners
The threat of alternatives like RFID tags, which use electromagnetic fields to automatically identify and scan the tags attached to various items, is a major barrier to the global market for barcode scanners.
RFID scanning technology can read many patterns simultaneously, unlike barcode scanners. In the global warehousing and logistics sector, RFID tags are becoming more popular. Over the projected period, this is anticipated to restrain the market for barcode scanners from expanding.
North American Market is Expected to be Dominant Globally.
Due to the region’s growing use of barcode scanners in the manufacturing and retail sectors, North America has held the largest market share and is predicted to maintain its dominance during the projected period.
Europe and APAC have come after this region in importance. Due to the growing retail, logistics, and healthcare industries as well as the rising number of retail chains, Asia Pacific has been predicted to have the biggest barcode scanner market growth opportunities.
Key Takeaways:
• Barcode scanner is projected to reach US$ 2.1 billion in Indian market by 2033.
• Barcode scanner is estimated to capture a US$2.5 billion market in China by 2033.
• Barcode scanner market revenues are expected to reach US$ 307.5 million in Germany by 2033.
• Barcode scanner revenues are projected US$ 311.4 million in UK market by 2033.
• US market is predicted to become US$3.7 billion by 2033.
• Portable/Handheld may experience growth in the product type category at a CAGR of 7.1% over the course of the projection year.
• Over the course of the forecast period, the US market may expand at a CAGR of 6%.
• In the technology sector, Laser Scanner might expand at a CAGR of 6.9% during the forecast period.
• The CAGR for the UK market during the predicted period may be 5.5%.
• The German market may expand at a CAGR of 8.4% over the course of the forecast period.
• India’s barcode scanner market is projected to increase at a CAGR of 8.2% from 2023 to 2033.
• The Chinese barcode scanner market is anticipated to grow at a CAGR of 8.9% between 2023 and 2033.
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Competitive Landscape
Key contenders in the barcode scanner industry include Zebra Technologies Corporation, Honeywell International Inc, DataLogics S.P.A, Cognex Corporation, SATO Holdings Corporation and others.
The key players in barcode scanner market are anticipated to have an impact on the market during the forecast period.
Recent Development
ProGlove – Unveiled Wearable Scanner:
ProGlove, a significant manufacturer of wearable barcode scanners with headquarters in Germany, unveiled the MARK Basic standard range (SR) wearable scanner in June 2021. It meets the requirements of businesses that prioritise short-range scanning, including workflow documentation in inbound processes like packing, retail inventory, and assembly.
Omron Corporation – Unveiled Portable Barcode Reader Series:
The V410-H portable barcode reader series, which was unveiled by Omron Corporation in September 2020, is a flexible, potent, and simple-to-use solution for a variety of applications. It offers a solution for traceability across industrial manufacturing and beyond with algorithms that easily capture difficult codes like direct part marks (DPMs) and ultra-compact symbols.
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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)
About Future Market Insights (FMI)
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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