The global 2D barcode reader market size is expected to reach USD 11.06 billion by 2028, registering a CAGR of 6.7% from 2021 to 2028, according to a study conducted by Grand View Research, Inc. The growing preference for online shopping and the subsequent growth in e-commerce and logistics is expected to drive the growth of the market. Businesses in several industries and industry verticals, including retail and manufacturing, are aggressively using barcodes and allied systems to precisely audit the inventory and track individual products or product batches remotely in a large facility. Thus, a barcode scanner becomes a core component for decoding and interpreting the data stored by the barcode. Barcode scanners ensure robust inventory control management and help in improving the accuracy, speed, and efficiency of tracking goods.
The
growing preference for online shopping has prompted e-commerce and logistics
companies to establish warehouses and distribution centers. Moreover, these
companies are aggressively looking to expand the storage space in line with the
growing demand for products ordered online. Businesses have also increased
their investments to maintain lean operations and enhance their storage
facilities. In addition to expanding floor spaces, investments are also being
made in automation and worker-augmented solutions, which have become a priority
for decision-makers. Decision-makers have realized that 2D barcode readers can
be a superior technology to help in automating inventory maintenance and data
collection and have hence taken an incremental approach to modernize warehouse
operations.
Generally,
a warehousing process involves transporting the stock from the supplier’s
logistics or production unit to the warehouse. The incoming goods are recorded
and stored at their designated locations. These items are retrieved from their
storage locations to prepare them for repackaging and shipment. Such processes
require data entry at several levels, including product tracking and inventory
management. Moreover, distribution centers also require meticulous stock control.
Thus, 2D barcode reader systems remain one of the most commonly used
technologies for accurate monitoring and identifying products across
warehousing facilities.
The
Middle East and Africa is expected to emerge as the fastest-growing regional
market over the forecast period. The rising number of distribution centers,
warehouses, and storage facilities in the region is prompting e-commerce and
logistics companies to adopt advanced technologies, such as barcode scanning
technologies. The growing demand for 2D barcode readers from businesses in the
UAE and Saudi Arabia is particularly anticipated to drive the growth of the
regional market over the forecast period.
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2D Barcode Reader
Market Report Highlights
- The handheld
segment is anticipated to witness the fastest growth over the forecast
period. Handheld barcode scanners offer numerous benefits, such as
mobility and operational flexibility, as compared to fixed 2D barcode
readers, which is projected to fuel the segment growth
- Logistics is
anticipated to emerge as the fastest-growing segment over the forecast
period. The continuously increasing volumes of online retailing coupled
with a wide array of product choices offered to consumers shopping online
are expected to drive the adoption of barcode scanning in logistics
facilities
- Asia Pacific
is projected to account for a majority market share and is expected to
reach USD 4.95 billion by 2028. The growth can be attributed to the
growing e-commerce and retail industry in the region
- Some of the
prominent industry participants include DENSO WAVE INCORPORATED, Cognex
Corporation, Datalogic S.p.A., Honeywell International, Inc., and Juniper
Systems Inc.
2D Barcode Reader
Market Segmentation
Grand View Research has
segmented the global 2D barcode reader market based on product type,
application, and region:
2D Barcode Readers
Product Type Outlook (Revenue, USD Million, 2016 - 2028)
- Handheld
- Fixed
2D Barcode Readers
Application Outlook (Revenue, USD Million, 2016 - 2028)
- Warehousing
- Logistics
- E-commerce
- Factory Automation
2D Barcode Readers
Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- Asia Pacific
- China
- India
- Japan
- South America
- Brazil
- Middle East & Africa
List of Key
Players of 2D Barcode Reader Market
- Cognex Corporation
- DENSO WAVE INCORPORATED
- Datalogic S.p.A
- Honeywell International, Inc.
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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