Global Barcode Readers Market to Reach USD 14,447.72 Million by 2030 | CAGR of 11.9%
Category : Semiconductor And Electronics | Published Date : Nov 2024 | Type : Press Release
Barcode Readers Market Scope & Overview:
As per the Consegic Business Intelligence newly published report, the Barcode Readers Market size was valued at USD 5,982.07 Million in 2022 and is projected to reach USD 14,447.72 Million by 2030, growing at a CAGR of 11.9% from 2023 to 2030. Barcode readers are optical scanners used to decode barcodes and extract relevant information about a product. These readers play a crucial role in various industries such as retail, healthcare, and logistics by enabling efficient data capture and management.
The report comprises the Barcode Readers Market Share, Size & Industry Analysis, By Type (Portable, Fixed), By Application (Error Optimization, Biometrics, Inventory Control & Management, Others), By End-User (Retail & Wholesale, Logistics & Warehousing, Manufacturing, Healthcare, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2023-2030.
The report contains detailed information on Barcode Readers Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
Increasing demand for barcode readers in retail and e-commerce and rising adoption in the healthcare sector are driving the market's growth, while alternatives like RFID tags pose challenges to market expansion.
Segmental Analysis :
By type, the market is divided into portable and fixed barcode readers.
- Fixed barcode readers accounted for the largest revenue share in 2022, driven by their application in retail and logistics for fast and accurate product tracking in checkouts and supply chains.
- Portable barcode readers are projected to grow at the fastest CAGR during the forecast period due to their widespread use in retail, warehouses, and healthcare for inventory management and patient record tracking.
By application, the market is segmented into error optimization, biometrics, inventory control & management, and others.
- Inventory control & management led the market with a 34.23% share in 2022, driven by the growing need for efficient inventory management in warehouses and retail stores.
- Error optimization is expected to grow at the fastest rate, driven by the increasing need for reducing human errors in various business operations through barcode technology.
By end-user, the market is categorized into retail & wholesale, logistics & warehousing, manufacturing, healthcare, and others.
- Logistics & warehousing dominated the market in 2022 due to the growing adoption of barcode readers for inventory tracking and supply chain management.
- Retail & wholesale is expected to register the fastest CAGR, driven by the need for accurate tracking, order management, and inventory control in the retail sector.
Based on regions, the global market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
- North America accounted for the largest revenue share in 2022, driven by the high adoption of advanced barcode technologies in retail and logistics.
- Asia-Pacific is projected to witness the fastest growth, driven by the booming e-commerce and logistics sectors in countries like China and India.
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 | USD 14,447.72 Million |
| CAGR (2023-2030) | 11.9% |
| By Type | Portable, Fixed |
| By Application | Error Optimization, Biometrics, Inventory Control & Management, Others |
| By End-User | Retail & Wholesale, Logistics & Warehousing, Manufacturing, Healthcare, Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape includes major manufacturers investing in research and development to introduce advanced barcode reader technologies.
List of prominent players in the Barcode Readers Industry:
- Wasp Barcode Technologies
- Microscan Systems
- Denso
- Motorola solutions
- Honeywell
- Datalogic
- Opticon
- Zebra
- Unitech Electronics Co., Ltd.
- Cognex Corp
- Bluebird Inc.
- Newland EMEA
- Code Corporation
- CipherLab Co., Ltd.
Recent Industry Developments :
- In January 2020, Scandit partnered with Samsung to integrate barcode scanning software with Samsung smartphones for enhanced data capture capabilities.
- In November 2021, Smart Engines launched an AI-based barcode scanning system capable of scanning both 1D and 2D barcodes, further enhancing accuracy and efficiency across industries.
