Global 2D Barcode Reader Market by Application (Factory Automation, E-commerce, Logistics, Warehousing), by Product Type (Handheld, Fixed) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global 2D barcode readers market was valued at USD 6.79 Billion in 2020. It is projected to grow at a 6.7% compound annual growth rate (CAGR), between 2021 and 2028. Growth is expected to be driven by the increasing use of 2D barcode scanners in inventory control and for gathering information for process optimization. Barcode scanners make it easier and more precise to analyze the retail industry's demand patterns. Barcode readers are easy to use and flexible, which means that employees need minimal training. Barcode readers are popular across many industries and verticals because of their benefits, including reduced downtime, preventive deliveries, recalls and quality control, robust tracking and quality information, and strong control over assets and quality. The growing preference for contactless payments as well as contactless delivery options is driving barcode readers' adoption.

Barcode technology is expected to be adopted by many industries and verticals. This will allow for precise tracking of individual products and product batches, as well as auditing inventories. Barcode readers are crucial in improving the efficiency of businesses' operations. Barcode scanning systems have many advantages such as increased accuracy, speed, lower clerical costs, better customer service, and greater efficiency in internal and external operations. Barcode scanners have become a vital part of the industrial sector due to their compact design, flexibility, payback period of 3 to 6 months, and low cost.

Barcode technology is becoming more popular as an automated identification/ scanning system. This can help reduce human error. Barcode scanners are used to streamline the checkout process in retail and to track inventory in warehouses. These devices are useful for businesses to save money, optimize data entry, improve real-time visibility of products and increase employee productivity.

Many U.S. healthcare facilities use barcode technology to avoid errors in patient identification, organize the patient admission process and track care admissions and medication given to patients. Every patient receives a unique barcode wristband that is linked to the computers at the facility. This ensures a unique patient record. The wristband is scannable by a nurse to determine the dosage of medication. It is then sent to the central computer where software crosses-checks different databases. An approval or warning are generated. A warning is issued if the medication barcode label and patient record are not compatible. This helps to avoid medication errors. This helps to optimize the process and improve the accessibility of 2D barcode readers in the healthcare sector.

In metro areas around the globe, shopping and buying in hypermarkets and supermarkets is becoming a daily activity. The increasing footfall at hypermarkets and supermarkets on weekends and holidays is making it difficult for employees to manage the long queues, busy billing counters, and tedious shopping experience. Digitalization has brought about a paradigm shift in the way we shop and how we operate. To reduce pressure on staff and provide a better shopping experience, retailers are creating new systems that allow them to sell electronic products. Installing 2D barcode technology can help retailers speed up turnaround times. Accordingly, 2D barcode readers are expected to see significant growth during the forecast period.

The rise of wireless technology has made digital shopping more popular. Barcode scanners can now be used to scan barcodes and integrate with wireless networks. This can help reduce long wait times at check-out in retail stores. Combining this with automated billing systems can make shopping easier, faster, more transparent, and more efficient. This could also improve customer satisfaction. These factors encourage businesses to adopt 2D-barcode-based systems and drive the growth of their market.

Product Type Insights

In 2020, the handheld segment was the dominant 2D barcode reader market and represented more than 60% revenue share. This segment is expected to grow at a rate of more than 5.0% during the forecast period. Its many benefits, including mobility and operational flexibility that handheld barcode readers offer, are what will drive the segment's CAGR. The lightweight and compact design of handheld barcode readers makes them easier to transport in a facility. They can also scan products and goods that are hard to lift. The handheld reader looks like a gun and has a trigger and grip to activate the scanning operation.

Barcode readers are highly competitive in pricing across all regions. There are many handheld and fixed barcode readers on the market, each with different prices. Buyers will often compare multiple options and the intended use of the barcode reader before making a purchase decision. To ensure flexibility and accessibility, a handheld reader would be a good choice in a retail setting. In an industrial setting, buyers may opt for rugged scanners that are durable and can withstand extreme conditions without sacrificing performance. Buyers may also choose barcode readers with advanced technology, such as touchscreens, Wi-Fi, Bluetooth, and Bluetooth connectivity. However, such features may increase the cost of barcode scanners.

Application Insights

In 2020, the warehousing market was dominant and accounted more than 35.0% global revenue. This segment will continue to dominate the market for the future. Online retail has seen a steady increase in popularity over the past decade. This is due to the advancements in logistics and warehousing, which have played a major role in the sector's overall growth. It is crucial to ensure that products are accurately tracked within online shopping. This includes accurate lead timing and product tracking.

Online shopping companies are increasingly required to track the products accurately. The market for 2D barcode readers is expected to grow because of the increasing need to record and manage sales information across the logistics and warehousing areas.

Over the forecast period, the logistics sector is expected to show the highest CAGR at 6%. Global trade competitiveness is dependent on timely and accurate information about the status of stocks or shipping schedules. Barcode scanning has been adopted in logistics facilities due to the increasing number of online sales and the wide range of products available. Barcode readers are expected to be adopted for improving business logistics due to the growth of ecommerce and retail distribution. The growth of e-commerce as well as trade requires logistics and transport companies to coordinate moving resources and keep track of them across the value chain. Barcode readers are needed in rugged logistics environments to achieve the best read rates, maximize efficiency, and better scanning accuracy.

Regional Insights

Asia Pacific was the dominant market in 2020, accounting for over 40% of global revenue. This growth can be attributed largely to the booming e-commerce industry and the retail industry in the region. The deployment of automated warehouses is a key factor in the growth of manufacturing activities. This has also led to a rise in demand for 2D barcode scanners. This barcode reader deployment in shipping, logistics, and warehouse activities has resulted in seamless business operations management.

Over the forecast period, MEA will be the fastest-growing region market. The rapid-changing customer preference for faster and more efficient retail experiences, combined with digitalization in retail industry, are driving the growth of e-commerce industry in the Gulf countries. The region's rising per capita income, increased social media penetration and the continued rollout high-speed internet networks will encourage buyers to shop online. New startups will likely build warehouses and storage facilities as ecommerce sales increase. This will drive growth in the MEA region market.

Market Share Insights & Key Companies

This market is highly dynamic and has several market leaders. DENSO Wave IncorPORATED, CASIO COMPUTER CO., LTD., Cognex Corporation, Datalogic S.p.A., General Data Company, Inc., JADAK, a Novanta Company, Honeywell International, Inc., and Juniper Systems Inc. are some of the major players. They are keen to improve their market presence through various strategic initiatives such as product development, joint ventures and partnerships, mergers and acquisitions, and strategic collaborations. These strategies allow market players to protect their market positions. Datalogic S.p.A., for example, announced in November 2020 the launch of the Gryphon 4200 series linear imagers. This product is suitable for healthcare applications, retail POS checkouts, ticketing and entertainment access control. It can also be used to process orders and work-in-progress manufacturing applications. The following are some of the major players in the global 2D-barcode reader market:

• DENSO WAVE INCORPORATED

• CASIO COMPUTER CO. LTD.

• Cognex Corporation

• Datalogic S.A.

• Honeywell International, Inc.

• Juniper Systems Inc.

• Zebra Technologies Corp.

• KEYENCE CORPORATION

Up Market Research published a new report titled “2D Barcode Reader Market research report which is segmented by Application (Factory Automation, E-commerce, Logistics, Warehousing), by Product Type (Handheld, Fixed), By Players/Companies Juniper Systems Inc, Cognex Corporation, Zebra Technologies Corp, DENSO WAVE INCORPORATED, KEYENCE CORPORATION, Honeywell International Inc, Datalogic SpA, CASIO COMPUTER CO LTD”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global 2D Barcode Reader Market Report Segments:

The market is segmented by Application (Factory Automation, E-commerce, Logistics, Warehousing), by Product Type (Handheld, Fixed).

2D Barcode Reader Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the 2D Barcode Reader Market

Overview of the regional outlook of the 2D Barcode Reader Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The 2D Barcode Reader Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of 2D Barcode Reader Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Factory Automation

                2. E-commerce

                3. Logistics

                4. Warehousing

                1. Handheld

                2. Fixed

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the 2D Barcode Reader Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the 2D Barcode Reader Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.