2D Barcode Reader Market Size, Share & Trends Analysis Report By Product Type (Handheld, Fixed), By Application (Logistics, Warehousing, E-commerce, Factory Automation), By Region, And Segment Forecasts, 2021 - 2028

Report Overview

The global 2D barcode reader market size was valued at USD 6.79 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.7% from 2021 to 2028. The growing adoption of 2D barcode scanners for inventory control and gatheringbusiness intelligence业务流程优化将drive growth. Analyzing the demand patterns across the retail industry becomes more accurate and easier due to barcode scanners. Moreover, barcode reader systems are flexible and easy to understand, which results in minimum employee training. Thus, barcode readers are widely adopted across various industries and industry verticals due to their advantages, such as reduced downtime, prevention of incorrect deliveries and recalls of products, and robust control on tracking assets and quality information. Moreover, amid the outbreak of the COVID-19 pandemic, the growing preference forcontactless paymentand contactless delivery solutions is also driving the adoption of barcode readers.

Incumbents of various industries and industry verticals, such as retail and manufacturing, are anticipated to aggressively adopt the barcode technology for accurate tracking of product batches and individual products as well as for auditing their inventories. Moreover, barcode readers play a pivotal role in increasing the operational efficiency of businesses. With advantages, such as higher accuracy, speed, reduced clerical cost, and better customer service, barcode scanning systems are becoming a prominent tool for streamlining internal and external operations. Moreover, with the compact design, flexibility, and a payback period of three to six months, barcode scanners are becoming vital to the industrial sector.

The increasing use of barcode technology as an automatic identification/ scanning system can potentially reduce human errors. Whether it is to speed up the checkout process in the retail sector or to track the inventory in a warehouse, barcode scanners have paved their way into a large variety of business operations. These devices help businesses in conserving their resources, optimizing the data entry process, improving real-time visibility of the products, and enhancing employee productivity.

For instance, several healthcare facilities in the U.S. use barcode technology to prevent errors in the identification of patients throughout their admission process, organize the patient admittance process, and track the care admission and medication being administered to patients. Each patient is given a unique barcode wristband, which is linked to the facility’s computers, thereby ensuring a unique patient record. When a nurse scans the wristband for the medication to be administered, it is sent to the central computer, where a software cross-checks various databases, and either an approval is generated or a warning is triggered. In event of a mismatch between the barcode label on the medication and the patient’s record, a warning is issued, which in turn, helps in avoiding any medication errors. This eventually drives process optimization and increases the usability of 2D barcode readers across the healthcare sector.

Shopping and purchasing in supermarkets and hypermarkets are turning out to be day-to-day activities, especially in metro cities across the world. With the increasing footfall on weekends and holidays, managing the long queues and busy billing counters is turning to be a tedious task for the employees of the supermarkets and hypermarkets. However, digitalization has induced a paradigm shift in shopping activities and operations. Retail stores are reinventing themselves with electronic shopping systems to reduce the pressure on their workforce and create a better shopping experience for the customers. Retailers can increase the turnaround times by installing the 2D barcode technology. As such, the demand for 2D barcode readers is estimated to grow significantly during the forecast period.

As digital shopping becomes more popular among consumers worldwide, the advent of wireless technology has further strengthened the transition to digital shopping. The increased adoption of barcode scanners that can be integrated with high-speed, wireless networks can potentially help in eliminating long waiting times at the check-out terminals in retail stores. This, combined with automated billing systems, can potentially make the shopping process faster, transparent, and efficient; while enhancing consumer satisfaction. All these factors are encouraging businesses to adopt 2D barcode-based systems, thereby driving the growth of the market.

Product Type Insights

The handheld segment dominated the 2D barcode reader market in 2020 and accounted for more than 60% of the revenue share. The segment is projected to register a CAGR of over 5.0% over the forecast period owing to the numerous benefits, such as mobility and operational flexibility, handheld barcode readers can offer as compared to the fixed barcode readers. Handheld barcode readers are lightweight and compact and hence increase the device portability in a facility while storing and scanning goods and products that are difficult to lift. A handheld reader is typically designed like a handgun and features a trigger and a grip to activate the scanning operation.

条形码阅读器的有竞争力的价格很高ly dynamic across different regions. There are several handheld and fixed barcode readers available across different price ranges in the market. Buyers often compare several options, including the specific application the barcode readers are supposed to serve and a try for a better bargain on price before making a buying decision. For instance, in a retail environment, buyers would choose an affordable handheld reader to ensure accessibility and flexibility. But in an industrial environment, a buyer may choose rugged scanners that can withstand harsh conditions without compromising with performance. Furthermore, in line with the advances in technology used in a barcode reader, buyers may choose devices equipped with features, such as a keyboard, Wi-Fi and Bluetooth connectivity, and touchscreen. But such features can add to the pricing of the barcode scanners.

Application Insights

仓储部门主导市场2020 and accounted for more than 35.0% of the global revenue. The segment is expected to continue dominating the market over the forecast period. Moreover, as online retail has gained traction over the past decade, it continues to expand at a healthy pace across the globe, with developments in warehousing and logistics playing a significant role in its overall growth. To ensure accurate tracking of products within the online shopping industry, it has become of paramount importance to maintain the sales information, precise lead timing, and product tracking in the supply chain network.

The ability to accurately track products is turning out to be a core requirement for online shopping providers. Thus, the growing need to manage and record sales information of products across the warehousing and logistics areas is emerging as one of the key factors that are expected to drive the growth of the market for 2D barcode readers.

The logistics segment is anticipated to exhibit the highest CAGR of 6% over the forecast period. Delivering timely and updated information on the current state of shipping schedules or stocks has become a prerequisite to global trade competitiveness. The continuously increasing volumes of online retailing coupled with a wide array of product choices being offered to consumers shopping online have boosted the adoption of barcode scanning in logistics facilities. The growth of e-commerce and retail distribution is expected to drive the adoption of barcode readers for improving business logistics. Burgeoning e-commerce and trade necessitate logistics and transportation companies to streamline and coordinate the moving resources and keep an accurate track of these resources across the value chain. Advantages, such as achieving optimal read rates, maximizing efficiency, and higher scanning accuracy, are anticipated to drive the demand for barcode readers in a rugged logistics environment.

Regional Insights

The Asia Pacific dominated the market in 2020 and accounted for a global revenue share of over 40.0%. The growth can be attributed to the growing e-commerce and retail industry in the regional market. Moreover, as manufacturing activities continue to evolve, the deployment of automated warehouses has also triggered the demand for 2D barcode readers. The increasing deployment of these barcode readers in shipping activities, logistics activities, and warehousing activities is benefitting in the form of seamless business operations management.

MEA is anticipated to emerge as the fastest-growing regional market over the forecast period. The rapidly-changing customer preferences for more convenient and less time-intensive retail experiences coupled with the advent of digitalization in the retail industry are driving the growth of the e-commerce industry across the Gulf countries. The growing levels of per capita income across the region, increasing social media penetration, and continued rollout of high-speed internet networks are expected to encourage buyers to shop online. As e-commerce sales continue to increase, new startups are expected to build warehouses and storage facilities to cater to the rising e-commerce sales. The subsequent need to manage and record the sales information of products and track the inventory in the warehouses is expected to drive the growth of the MEA regional market.

Key Companies & Market Share Insights

The market is a highly dynamic market characterized by the presence of several prominent market players. Some of the key players include 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. These players are focused on improving their market presence by pursuing various strategic initiatives, such as new product developments, strategic collaborations, joint ventures, and partnerships; and mergers and acquisitions. These strategies are allowing the market players to defend their respective positions in the market. For instance, in November 2020, Datalogic S.p.A. announced the launch of the new Gryphon 4200 linear imager series. The new product is ideal for healthcare applications, retail POS checkout, ticketing, entertainment access control, order processing, and manufacturing work-in-progress applications. Some prominent players operating in the global 2D barcode reader market are:

• DENSO WAVE INCORPORATED

• CASIO COMPUTER CO., LTD.

• Cognex Corporation

• Datalogic S.p.A.

• Honeywell International, Inc.

• Juniper Systems Inc.

• Zebra Technologies Corp.

• KEYENCE CORPORATION

2D Barcode Reader Market Report Scope

Report Attribute	Details
Market size value in 2021	USD 7.03 billion
Revenue forecast in 2028	USD 11.06 billion
Growth Rate	CAGR of 6.7% from 2021 to 2028
Base year for estimation	2020
Historical data	2016 - 2019
Forecast period	2021 - 2028
Quantitative units	Revenue in USD Million and CAGR from 2021 to 2028
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered	Product type, application, region
Regional scope	North America; Europe; Asia Pacific; South America; Middle East and Africa
Key companies profiled	Cognex Corporation; DENSO WAVE INCORPORATED; Datalogic S.p.A; Honeywell International, Inc.; KEYENCE CORPORATION
Customization scope	Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs.Explore purchase options

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For this study, Grand View Research has segmented the global 2D barcode reader market report based on product type, application, and region:

• Product Type Outlook (Revenue, USD Million, 2016 - 2028)

  • Handheld

  • Fixed

• Application Outlook (Revenue, USD Million, 2016 - 2028)

  • Warehousing

  • Logistics

  • E-commerce

  • Factory Automation

• Regional Outlook (Revenue, USD Million, 2016 - 2028)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • U.K.

    • Germany

  • Asia Pacific

    • China

    • India

    • Japan

  • 南美

    • Brazil

  • Middle East & Africa