Barcode Scanner Market to Reach $16.84 Billion by 2030: Cognitive Market Research

CHICAGO, Feb. 6, 2023 /PRNewswire/ -- The Global Barcode Scanner Market size is projected to be USD 16.84 Billion by 2030 growing at a CAGR of 8.4 % from 2023 to 2030, as per a recent report published by Cognitive Market Research. Expansion of manufacturing facilities, logistics, and e-commerce sectors provides a favorable environment for barcode scanners sales, which will boost market growth.

Major findings during the study of the Barcode Scanner Market:

Increased demand for remote solutions in the industry is the key factor expected to drive the growth of the global barcode scanners market.

Moreover, continuous technological advancements in public distribution systems will positively contribute to market growth.

Within the next few years, most stores will be able to track inventory without error due to the effectiveness and operational efficiencies of barcode scanners.

The portable/handheld barcode scanner segment market forecast is expected to hold the highest share of the global market during the forecast period. Portable/handheld barcode scanners are in higher demand than stationary barcode scanners. The main reason behind this is the difference in calibration levels between the two scanners.

By technology, these segments include pen readers, laser scanners, charge-coupled device readers, camera-based readers, smartphone-based scanners, RFID readers, and many others. Barcode readers based on charge-coupled device readers are projected to dominate the global market for barcode scanners during the forecast years.

Among end users, it is segmented into retail & commercial, general manufacturing, healthcare, logistics & warehousing, commercial aviation, defense, and others. In terms of share, the logistics and warehousing segment dominates the global barcode scanners market, followed by retail and commercial. The logistics and warehousing segment are projected to grow at the highest CAGR during the forecast period mentioned above. The growth of this segment can be attributed to the increasing inclination of vendors and suppliers to use barcode scanners to manage the data of different products in their housewares.

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Barcode Scanner Market Growth and Recent Trends

The primary driver of the global barcode scanners market is the exponential growth in usage by manufacturers, retailers, suppliers, and suppliers across different industries such as logistics and warehouses, retail and e-commerce among others. Barcode scanners are the most essential tools in businesses for capturing product information and storing data. The key areas where barcode scanners play an important role is for cost price, sales price, expiration date, serial number, etc. This is expected to impact the barcode scanner market during the forecast period.

The players operating in the global barcode scanner market are focused on launching new and innovative products which are expected to provide competitive advantage in the near future. Some of the leading players have launched many products in the last few years and are continuously investing in R&D. For instance, in June 2021, ProGlove launched the MARK Basic Standard Range (SR) focused on short range scanning, such as workflow documentation in various out-of-the-box activities such as retail inventory, packaging and assembly operations. Similarly, in September 2020, Omron Corporation introduced the V410-H series of portable barcode readers, which are robust, versatile, and easy-to-use for various applications. It has different DPM algorithms that capture codes such as ultra-compact symbols, providing traceability throughout the industry's manufacturing process. Also in November 2020, Datalogic S.p.A. announced the launch of the novel Gryphon 4200-line image series. The product is proven ideal for retail POS checkout, entertainment access, ticketing, order processing, work-in-progress applications, and healthcare applications. The continuous innovation and new product development is expected to boost the barcode scanner market in near future.

The COVID-19 pandemic has negatively impacted the market owing to government restrictions, mandated closures, and retail store closures in several countries. The market size of the global barcode scanner market share decreased slightly in 2020 compared to 2019. The COVID-19 pandemic has negatively impacted the global economy due to lockdowns and restrictions imposed by governments around the world. Governments in major countries have focused on maintaining economic growth during the pandemic. Consumer spending has plummeted during the pandemic.

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https://www.cognitivemarketresearch.com/barcode-scanner-market-report

Cognitive Market Research has segmented the global barcode scanner market by product type, technology, end user, distribution channel and region. The segmentation can be further customized.

Barcode Scanner Report Scope

Memory Device Market – Product Type Outlook (Revenue, USD Billion, 2018–2030)

Portable/Handheld

Fixed Position

Memory Device Market - Technology Outlook (Revenue, USD Billion, 2018–2030)

Pen Type Reader

Laser Scanner

Charge Coupled Device Readers

Camera Based Reader

Smartphone Based Scanner

RFID Reader

Others

Memory Device Market – End User Outlook (Revenue, USD Billion, 2018–2030)

Retail & Commercial

General Manufacturing

Healthcare

Logistics & Warehouse

Commercial Aviation

Defence

Others

Memory Device Market – Distribution Channel Outlook (Revenue, USD Billion, 2018–2030)

Direct

Indirect

By Regions:

North America (U.S., Canada, Mexico)

Europe (Germany, France, UK, Italy, Spain, Russia, Rest of Europe)

Asia Pacific (China, Japan, India, South Korea, Australia, Southeast Asia, Rest of APAC)

Latin America (Brazil, Argentina, Columbia, Rest of Latin America)

Middle East & Africa (GCC, Saudi Arabia, Turkey, Egypt, Rest of MEA)

List Of Key Companies Profiled:

Datalogic S.P.A

Scandit AG

Juniper Systems

Bluebird

DENSO

NCR

Newland

Opticon

SICK

Zebra Technologies Corporation

OCOM Technologies

JC Square Inc.

SATO Holdings Corporation

Wasp Barcode Technologies

Related Reports to Barcode Scanner Market:

Global In Counter Barcode Scanner Market expected to reach USD 12.45 billion by 2030

The global in-counter barcode scanner market is expected to reach USD 12.45 billion by 2030, and the expected CAGR is 7.42%. In-counter barcode scanners are increasingly used in smart retail and point-of-sale (POS) environments to scan barcodes on products at checkout. In-counter barcode scanners can be wired or wireless and are generally more durable than handheld scanners.

Global Industrial Barcode Scanner Market is projected to reach USD 2.6 billion by 2030

The global industrial barcode scanner market is projected to reach USD 2.6 billion by 2030, growing at a CAGR 8.43 of %. The industrial barcode scanner market is driven by advancements in Industry 4.0, increasing adoption of wearable barcode scanners in the manufacturing industry, and increasing deployment of mobile workforces.

Other Related Reports and Market Size Stats:

Global Portable Scanner Market is expected to reach USD 3.43 billion at 5.45% CAGR by 2030.

Global Veterinary CT Scanner Market is expected to reach USD 192.8 Million by 2030 at 8.10% CAGR.

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About Cognitive Market Research:

Cognitive Market Research has evolved as one of the leading market research and consulting firms, providing services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operating across the value chain. As a market research company, we gather information about the target market and end-use industries to verify the entire journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.

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SOURCE Cognitive Market Research