2D Barcode Reader Market Overview
Global 2D Barcode Reader Market Size was valued at USD 7.7 Billion in 2022. The 2D Barcode Reader market industry is projected to grow from USD 8.3 Billion in 2023 to USD 16.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.90% during the forecast period (2023 - 2032).
Global e-commerce growth, evolving warehousing and logistics trends, and increased use of 2D barcodes across a range of industries are all contributing factors, are the key market drivers enhancing the market growth according to a new report by Intellectual Market Insights Research.
2D Barcode Reader Market Trends:
The rising e-commerce industry worldwide in line with the evolving developments in the warehousing and logistics industries is driving the market growth
The market's growth can be ascribed to the growth of the global e-commerce industry as well as shifting trends in the warehousing and logistics industries. Maintaining sales data, ensuring proper timing, and tracking products across supply chain networks in real-time are increasingly of the utmost importance to support the quick rise of the online retail sector. For internet sellers, real-time product tracking has become an essential demand. Currently, 2D barcode readers are essential for managing inventory levels and sales data.
Barcodes can reduce data entry errors, which can be costly and difficult to correct. Barcode scanning can increase accuracy and productivity by lowering the possibility of human error. It has been demonstrated to be a quicker and more efficient way to collect data than manual methods. Barcodes make it possible for speedier scanning of options, quicker checkouts in retail venues, quicker tracking & processing of products in logistics, and quicker patient processing. As products move through the supply chain, barcodes are used to track them, offering businesses more flexibility and control. The effectiveness of the supply chain can be increased by lowering the possibility of products being stolen or misplaced.
In order to rapidly and accurately scan product barcodes at the point of sale, barcode readers are often utilized in retail establishments. It is also projected that greater use of these devices in industries like healthcare will boost market growth. For instance, to prevent medication errors, barcode technology is employed in acute care facilities in the United States. Each patient receives a customized barcode wristband that is connected to the main computers in order to maintain an individual patient record. Before delivering the patient their medication, the nurse scans both the wristband and the pill using a barcode scanner. The data is sent to a central computer, where software double-checks a number of databases before approving the medication.
In the event of a mismatch, the system issues a warning, avoiding any drug-related catastrophes. These benefits would support the industry's growth over the anticipated period. Wireless technological advances are further supporting the trend to online shopping. Despite the fact that more shoppers worldwide are choosing to make digital purchases, supermarkets and hypermarkets can reduce wait times and speed up the checkout process by incorporating wireless technology into their barcode scanners. As a result, the business is expanding since the use of wireless technology, automated billing systems, and 2D barcode scanners makes shopping easier, offers quick and simple checkout processes, and increases customer satisfaction. Thus, driving the 2D Barcode Reader market revenue.
2D Barcode Reader Key Market Players & Competitive Insights:
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the 2D Barcode Reader market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The 2D Barcode Reader sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide 2D Barcode Reader industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the 2D Barcode Reader sector. Major players in the 2D Barcode Reader market, including Casio Computer Co., Ltd., Cognex Corp., Datalogic SpA, Denso Wave Inc., General Data Company, Inc., Honeywell International, Inc., JADAK - A Novanta Company, Juniper Systems Inc., Keyence Corp., Marson Technology Co., Ltd., Omron Microscan Systems, Inc., Sato Holdings Corp., Scandit, Sick AG, Unitech Electronics Co., Ltd., Wasp Barcode Technologies, Zebex Industries Inc., and Zebra Technologies Corp., are attempting to increase market demand by investing in research and development operations.
Cognex Corp. is a business that operates for profit. It uses machine vision technology to automate industrial processes when designing, developing, and producing products. The company sells a variety of products, including vision systems, vision software, 3D laser profilers, fixed-mount barcode readers, handheld barcode readers, and vision sensors. The company uses machine vision for a number of purposes, including managing assembly robots and keeping an eye on manufacturing lines, as well as for tracking, sorting, and recognizing parts and spotting defects in products. In addition to the automation, logistics, and life sciences industries, Cognex offers services to the semiconductor, consumer electronics, food, beverage, pharmaceutical, and medical sectors. The company markets and sells its products through distribution and integration partners. The headquarters of Cognex are located in Natick, Massachusetts, in the United States. Cognex Corp. unveiled the DataMan 580, a fixed-price barcode scanner, in January 2023 to speed up business while improving accountability. By utilizing cutting-edge intelligence, management, and performance solutions to track real-time system performance and improve operations, it aims to optimize logistical processes.
Adesso SE is a German company that offers IT support. The company offers consulting and software development services to enhance crucial corporate operations. It also offers pre-made software items for typical applications. The consulting and software development departments of the corporation generate the majority of its sales revenue in Germany. IT Services and IT Solutions make up its two sections. In January 2023, Adesso acquired the Italian software company WebScience. To boost its market share in Italy, it has carefully planned this strategy.
Key Companies in the 2D Barcode Reader market include:
- Casio Computer Co., Ltd.
- Cognex Corp.
- Datalogic SpA
- Denso Wave Inc.
- General Data Company, Inc.
- Honeywell International, Inc.
- JADAK - A Novanta Company
- Juniper Systems Inc.
- Keyence Corp.
- Marson Technology Co., Ltd.
- Omron Microscan Systems, Inc.
- Sato Holdings Corp.
- Sick AG
- Unitech Electronics Co., Ltd.
- Wasp Barcode Technologies
- Zebex Industries Inc.
- Zebra Technologies Corp.
2D Barcode Reader Market Players & Competitor Analysis:
The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2023-2032 & Sales with a thorough analysis of the market’s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.
2D Barcode Reader Market Segmentation Analysis:
2D Barcode Reader Product Type Outlook
2D Barcode Reader Application Outlook
- Factory Automation
2D Barcode Reader Regional Outlook
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Latin America
The report also helps in understanding Global 2D Barcode Reader Market dynamics, structure by analyzing the market segments, and project the Global 2D Barcode Reader Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global 2D Barcode Reader Market make the report investor’s guide.
2D Barcode Reader Market Segment Insights:
2D Barcode Reader Product Type Insights
The global 2D Barcode Reader market segmentation, based on Product Type, includes handheld and fixed. Handheld segment accounted for the largest revenue share in 2022. A handheld device can be used for a wide range of purposes. For instance, in the industrial sector, it is a crucial tool for monitoring shipping, receiving, and Work-In-Progress (WIP) stocks. It is used in the retail industry to satisfy configuration requirements at the checkout counter since it facilitates accurate inventory tracking and provides essential business knowledge for future planning and operational purposes.
2D Barcode Reader Application Insights
The global 2D Barcode Reader market segmentation, based on application, includes warehousing, logistics, e-commerce, and factory automation. Warehousing segment dominated the global 2D Barcode Reader market in 2022. Moving containers, bulk inventory, and individual goods between various separate places is an essential warehouse operating practice. Manual data collection for inventory counts can be time-consuming and error-prone.
2D Barcode Reader Regional Insights
Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. The North America 2D Barcode Reader Market dominated this market in 2022 (45.80%). Customers may now purchase and return items whenever it is most convenient for them thanks to the rise of online shopping and the rising popularity of social media platforms, particularly in industrialized countries like the U.S. Further, In the North American area, the U.S. 2D Barcode Reader market had the biggest market share, while the Canada 2D Barcode Reader market had the quickest rate of expansion.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
In 2022, the 2D barcode reader market in Europe held a sizable market share. As more organizations implement 2D barcodes to properly track product, location, manufacturer, and related specification data, there will likely be more growth prospects for the 2D barcode reader market in Europe. Further, In the European region, the German 2D Barcode Reader market had the biggest market share, and the U.K. 2D Barcode Reader market had the quickest rate of growth.
From 2023 to 2032, the Asia Pacific 2D Barcode Reader market is anticipated to develop significantly. Demand for 2D barcode readers has increased as a result of the growth of the e-commerce, logistics, and warehouse industries in the Asia Pacific area. Additional factors driving demand for 2D barcode readers include the rollout of 5G, increased government efforts toward industry 4.0 for the automation and digitalization of industries, and expanding digitization. Moreover, In the Asia-Pacific region, the Indian 2D Barcode Reader market had the quickest rate of growth while China's 2D Barcode Reader market had the greatest market share.
Global 2D Barcode Reader Market Regional Analysis
North America accounted for the highest xx% market share in terms of revenue in the 2D Barcode Reader market and is expected to expand at a CAGR of xx% during the forecast period. This growth can be attributed to the growing adoption of 2D Barcode Reader. The market in APAC is expected to witness significant growth and is expected to register a CAGR of xx% over upcoming years, because of the presence of key 2D Barcode Reader companies in economies such as Japan and China.
The objective of the report is to present comprehensive analysis of Global 2D Barcode Reader Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
2D Barcode Reader Market Report is also available for below Regions and Country Please Ask for that
- Rest of Europe
- South Korea
- Rest Of APAC
- Rest of South America
Middle East and Africa
- Saudi Arabia
- South Africa
- Rest Of MEA
Points Covered in the Report
The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 12 years data history and forecast.
The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.
Key Reasons to Purchase
- To gain insightf
- utlook and prospects for the 2D Barcode Reader market. Besides the standard structure reports, we also provide custom research according to specific requirements.
Research Scope of 2D Barcode Reader Market
- Historic year: 2019- 2022
- Base year: 2023
- Forecast: 2023 to 2032
- Representation of Market revenue in USD Million