According to a Future Market Insights (FMI), the barcode scanner market is predicted to be valued at USD 7.91 Billion in 2024 and USD 14.88 Billion by 2034. Over the projection period, the barcode scanner market is expected to surge at a CAGR of 6.52%.
A prominent driver is the growing adoption of barcode technology in emerging markets and industries. As global players focus on streamlining operations and improving productivity, barcode scanners provide an affordable solution for tracking inventory, managing assets, and optimizing the supply chain.
Barcode scanners are ecofriendly alternatives to paper, which can help companies, go paperless while still being able to save insights digitally. This feature of barcode scanner aligns with governments’ goals of a greener future, further increasing barcode scanners demand.
Barcode scanners are ideal for many businesses because of their ease of use and accuracy. They make updating and accessing data extremely convenient and eliminate any delays, making them a go to tool, especially for the retail industry.
The healthcare industry is a crucial driver for the barcode scanner market, as this technology offers easy, budget friendly solutions to all the complexities that hit its nerves. They also ensure patient safety and surgical instrument identification.
Barcode scanners are used in the emergence of smart cities and technological advancements. These innovations empower the seamless integration of barcode data with IoT sensors, allowing for real time monitoring of assets, inventory, and infrastructure.
Key Takeaways from the Barcode Scanner Market Study:
- China leads the barcode scanner market, expecting a 9.30% CAGR by 2034.
- Italy anticipates an 8.40% CAGR by 2034 with regard to barcode scanner demand.
- Canada is expected to surge with an 8.80% CAGR until 2034.
- Portable/handheld segment to hold an 82.40% market share until 2024.
- FMI forecasts the laser scanner segment to attain a 32.70% market share by 2024.
“The barcode market is anticipated to augment at a stupendous pace owing to technological advancements, growing need for efficiency, and seamless integration with mobile devices,” – opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
How are Key Players revolutionizing the Barcode Scanner Market?
The key players are revolutionizing the barcode scanner market through innovation continuous innovation. By integrating image technology, they made barcode reading much faster and more accurate, even in unfavorable conditions. Seamless connectivity with mobile devices enables users’ flexibility and mobility, while cloud connectivity enables real time data analytics and inventory management.
Sturdy designs endure harsh industrial conditions, ensuring durability and reliability. AI and ML can decode even damaged barcodes accurately. With a strong emphasis on user experience, intuitive interfaces and user friendly designs streamline operations. These advancements indicate a profound change, strengthening major players with agility, efficiency, and data driven insights.
Recent Developments:
- In November 2023, with the peak shopping season approaching, technologies that improve the customer experience and help them make faster decisions are becoming increasingly important. Honeywell released the latest version of its SwiftDecoder™ barcode-decoding software to enhance retail operations and provide a smooth shopping experience.
- In November 2023, Zebra Technologies Corporation, a leading digital solution provider that enables businesses to intelligently connect data, assets, and people, announced that Ricoh Company Ltd (Ricoh) has successfully implemented Zebra’s radio frequency identification (RFID) solution at distribution centers in Gotemba, Kawasaki, and Osaka, Japan. The deployment improves the tracking and retrieval of multiple secure digital (SD) cards, which are routinely placed as part of the standard checking procedure on multifunction copiers and printers handed in for warranty claim processing.
Key Players Profiled in Report:
- Honeywell International Inc.
- Zebra Technologies Corporation
- Datalogic S.p.A.
- Wasp Barcode Technologies
- Symbol Technologies, Inc.
- Opticon Sensors Europe BV
- Code Corporation
- SATO Holdings Corporation
- CipherLab Co., Ltd.
- Axicon Auto ID Ltd.
- Microscan Systems, Inc.
Barcode Scanner Market Segmentation Analysis:
By Product Type:
- Portable/Handheld
- Rugged Scanners
- PDA Scanners
- Automatic Readers
- Others
- Fixed Position
- Stationary Scanners
- Presentation Scanners
- Automatic Readers
- Others
By End User:
- 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
- South Asia & Pacific
- East Asia
- The Middle East & Africa
Access Report Details for More In-Depth Information!
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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