Scanning the Future: Barcode Scanner Market to Reach New Heights in 2030 Fueled by E-Commerce and Inventory Management Demands
SkyQuest’s Barcode Scanner market report is excellent information for individuals interested in gaining insight into the valuable data, trends, and opportunities in a rapidly growing industry. Additionally, the report is written clearly and concisely, making it accessible to various audiences, from industry experts to market readers. Finally, one can gain an in-depth understanding of the primary and secondary market drivers, providing them with a comprehensive outlook of the current market situation and future projections.
Westford USA, March 30, 2023 (GLOBE NEWSWIRE) — The market for Barcode Scanners is expected to experience significant growth and reach a value of USD 13.85 billion by 2030, at a CAGR of 8.6% during the forecast period (2022-2030). This growth can be attributed to the increasing adoption of e-commerce, advancements in technology within the retail industry, rising demand for inventory management and tracking, and the growing use of mobile devices. The retail sector holds the largest share of the barcode scanner market, as per SkyQuest.
Adopting advanced technologies such as 2D imaging, wireless connectivity, and cloud-based solutions has increased barcode scanners’ efficiency and versatility. This has resulted in their adoption across various healthcare, transportation, and logistics sectors. The use of QR codes in mobile payment transactions is also rising, with SkyQuest research predicting a global user base of 2.2 billion by 2025.
Browse in-depth TOC on “Barcode Scanner Market”
- Pages – 157
- Tables – 175
- Figures – 74
In today’s world, the barcode scanner market is essential as it performs a crucial function in various industries such as retail, healthcare, and logistics. Barcode scanners ensure swift and accurate identification of products, increasing supply chain efficiency, minimizing errors, and enhancing customer satisfaction. With technological advances, barcode scanners are becoming more versatile and efficient, increasing their adoption and significance in the future.
Prominent Players in Barcode Scanner Market
- Honeywell International Inc.
- Zebra Technologies Corporation
- Datalogic S.p.A.
- SATO Holdings Corporation
- Bluebird Inc.
- Denso Wave Incorporated
- Cognex Corporation
- Newland Europe B.V.
- Opticon Sensors Europe B.V.
- Wasp Barcode Technologies
- Scandit AG
- Code Corporation
- Microscan Systems, Inc.
- Unitech Electronics Co. Ltd.
- Generalscan Electronics Co. Ltd.
- Cipherlab Co. Ltd.
- Argox Information Co. Ltd.
- NCR Corporation
- Motorola Solutions, Inc.
- Panasonic Corporation
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Retail industry application Segment to Drive Higher Sales as There is Increasing Demand for Contactless Payment Solutions
A recent analysis has identified the Retail industry application segment as a significant contributor to the rapid growth of the Barcode Scanner market in 2021, with expectations for continued growth from 2022 to 2030. This trend can be attributed to the growing trend of omnichannel retailing and the increasing demand for contactless payment solutions. Barcode scanners are becoming increasingly popular in the retail industry, as they have been shown to improve efficiency and reduce errors. According to a study conducted by VDC Research, retailers that implemented barcode scanning technology experienced an 8.3% reduction in out-of-stocks and a 7.5% reduction in excess inventory.
SkyQuest’s research analysis indicates that North America is expected to emerge as a dominant player in the Barcode Scanner market from 2022 to 2030. The region is projected to grow at a CAGR of 5.52% during the forecast period. This growth can be attributed to the increasing demand for automated data collection and inventory management systems in the retail sector, coupled with the rising adoption of e-commerce. Additionally, the U.S. FDA has mandated the use of barcode scanning technology for tracking and tracing prescription drugs under the Drug Supply Chain Security Act (DSCSA) is expected to drive further the growth of the barcode scanner market in North America.
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Handheld barcode type Segment to Exhibit Strong Growth due to Increasing Demand for it in the Retail and Healthcare Industries
The Barcode Scanner market in 2021 was dominated by the Handheld barcode type segment and is expected to maintain its leading position from 2022 to 2030. This trend is driven by the increasing demand for handheld scanners in the retail and healthcare industries, specifically for point-of-sale (POS) and medication administration purposes. The growth of handheld barcode scanners is also attributed to technological advancements, such as wireless connectivity and compatibility with mobile devices. Skyquest predicts that the Handheld barcode type segment will grow at a CAGR of 7.6% in the forecasted period. Moreover, the usage of advanced materials such as carbon fiber in the production of wheels and brake systems is contributing to the growth of this segment.
The Asia Pacific region is projected to continue its strong growth in the Barcode Scanner market and maintain its leading position by 2030, according to recent market analysis. The Asia Pacific region is expected to have the highest CAGR during the forecast period, as reported by SkyQuest. The region is home to the world’s largest e-commerce market, accounting for more than 62% of global e-commerce sales in 2020, according to a SkyQuest report. The e-commerce industry heavily relies on barcode scanners for efficient inventory management, shipment tracking, and product scanning during checkout, and the increasing demand for barcode scanners in this industry is driving the growth of the barcode scanner market in the region.
A comprehensive analysis of the major players in the Barcode Scanner market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
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Key Developments in Barcode Scanner Market
- Socket Mobile introduced its latest linear barcode and QR code scanners – the SocketScan S820, DuraScan D820, and DuraSled DS820. These new models come after the successful launch of the SocketScan S720, which serves as an entry-level option for customers looking to upgrade to 2D scanning at a basic and affordable level.
- Azenta, Inc. (Nasdaq: AZTA) has acquired Ziath, Ltd. and its subsidiaries, which are based in Cambridge, UK. Ziath is a top provider of 2D barcode readers for life sciences applications. Founded in 2005, Ziath’s 2D barcode readers are a crucial element of the laboratory automation workflow that serves customers in the pharmaceutical, biotech, and academic sectors across the globe.
Key Questions Answered in Barcode Scanner Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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