Barcode Scanner Market Had Reached a Revenue of US$ 7 Bn in 2021 and is Expected to Grow at a CAGR of over 7.6% Amid Increase in Digitization of Distribution Systems | Future Market Insights, Inc.

Future Market Insights Global and Consulting Pvt. Ltd.
Future Market Insights Global and Consulting Pvt. Ltd.

North America Barcode Scanner Market is expected to create total incremental opportunity of more than US$ 1500 Mn between 2021 and 2031. Use of barcode scanners is rapidly growing in the retail and manufacturing industries. The barcode scanner market is expected to register CAGR of 5.2% between 2021 and 2031 in Europe

NEWARK, Del, Nov. 30, 2022 (GLOBE NEWSWIRE) -- The global barcode scanner market stood at US$ 7 Bn in the year 2021 and is expected to witness a CAGR of 7.6% between 2021 and 2031.

Public distribution system is turning digitized day after day. As such, there is a spike in the number of e-retailers. Barcode technology is increasingly used as an AIS (automatic identification system) for reducing human errors. The healthcare vertical is also witnessing an increasing demand for barcode scanners, so as to manage medicinal records and averting errors with respect to data.

Barcode scanners’ competitive pricing happens to be dynamic across several regions. There are numerous fixed and handheld barcode scanners available across a wide price spectrum on the whole. Along these lines, buyers in retail environment prefer affordable handheld scanners for ascertaining flexibility and accessibility. However, in the industrial environment, buyer chooses rugged scanners that are able to resist harsh conditions, that too, without compromising on performance parameters. These days, buyers may also opt for devices having features like Bluetooth and Wi-Fi connectivity, keyboard, and touchscreen. Future Market Insights has walked through these facts with insights in its latest market study entitled ‘Barcode Scanner Market’.

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Key Takeaways from Barcode Scanner Market

  • The Asia-Pacific holds the largest market share. It, in fact, accounts for more than 40% of the overall revenue. This could be attributed to expansion of retail and e-Commerce verticals in countries like India and China.

  • MEA is expected to grow at the fastest rate in the barcode scanner market due to end-consumers increasingly pressing for the convenience factor coupled with digitization of retail industry.

  • North America and Europe are at the matured stage of barcode scanner market and the scenario is expected to continue even going forward.

Competitive Landscape

  • ProGlove, in June 2021, did launch MARK Basic standard range (SR) to focus on short-range scanning like workflow documentation in various outgoing activities such as retail inventory, packing, and the assembly operations.

  • Omron Corporation, in September 2020, did launch V410-H portable barcode reader series, which come across as powerful, versatile, and easy-to-use solutions for various applications. It renders traceability all across industrial manufacturing, with various algorithms that could capture the tough codes like DPMs (direct part markings) with ultra-compact symbols.

  • Datalogic S.p.A., in November 2020, did announce launching the novel Gryphon 4200 linear imager series. This product proves to be ideal for retail POS checkout, entertainment access, ticketing, order processing, work-in-progress applications, and healthcare applications.

  • Cognex Corporation has its advanced series like MX-1502, DataMan 8700, and likewise, which are capable of reading codes, right from 15-30 cm to 10 meters away. This renders the series ideal on the account of scanning barcodes on the floor labels, slips hanging from the warehouse ceilings, and rack labels on the high sleeves.

  • Honeywell has unleashed novel devices abreast with disinfectant-ready housing such as Voyager XP and Xenon XP. The advantage of these scanners is that they are capable of capturing the damaged or difficult-to-interpret barcode easily.

“Barcode reader systems are broadly adopted across several industry verticals owing to advantages like reduction in frequency of product recalls. This factor is bound to take the barcode scanner market to greater strides in the upcoming period”, says an analyst from Future Market Insights.

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What does the Report Cover?

  • The research study is based on product type (portable/handheld (rugged scanners, PDA scanners, automatic readers, and others) and fixed position (stationary scanners, presentation scanners, automatic readers, and likewise), by end-use (retail & commercial, general manufacturing, healthcare, logistics & warehouse, commercial aviation, defense, and likewise), and by technology (pen type reader, laser scanner, CCD (charged coupled device) readers, camera-based reader, omni directional barcode scanner, smartphone-based scanner, and RFID (Radio Frequency Identification Technology).

  • With barcode scanners increasingly adopted by several verticals owing to advantages like reduction in downtime, exercising control over tracking assets, and preventing incorrect deliveries, the global barcode scanner market is bound to witness simulation in the forecast period.

Market segmentation

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

  • APEJ

  • Japan

  • MEA

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Table of Content

1. Executive Summary

2. Market Introduction

  2.1. Market Definition

  2.2. Market Taxonomy

3. Global Market Analysis Scenario

  3.1. Portable/Handheld Scanners Pricing Analysis,2016

  3.2. Fixed Position Scanners Pricing Analysis,2016

  3.3. Market Size and Forecast Analysis

  3.4. Market Overview

4. Market Dynamics

  4.1. Macro-economic Factors

  4.2. Drivers

  4.3. Restraints

  4.4. Opportunity

  4.5. Trends

  4.6. Forecast Factors – Relevance and Impact

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About Future Market Insights, Inc.

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Source: https://www.prnewswire.com/ae/news-releases/barcode-scanner-sales-to-grow-by-7-6-through-2031-as-demand-for-accurate-tracking-system-increases-in-retail-sector-future-market-insights-finds-in-latest-survey-301334655.html