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The barcode scanner market size is forecast to increase by USD 3.51 billion at a CAGR of 8.61% between 2023 and 2028. The market is experiencing significant growth due to several key drivers. In industries such as Commercial Aviation and Defense, the demand for barcode scanning technology remains high for recording product information and ensuring accuracy. The adoption of advanced technologies like Charge-Coupled Device (CCD) sensors and pen-style, laser-based barcode readers continues to increase. In logistics and warehouse applications, cordless scanners with omnidirectional sensors are becoming increasingly popular for their convenience and efficiency. Additionally, the market is witnessing a rise in the adoption of 2D barcodes and RFID solutions for enhanced data capture capabilities. These trends are expected to drive the growth of the market in the coming years.
The implementation of barcode technology has revolutionized various industries, including the retail and warehousing sectors, by enhancing efficiency, accuracy, and productivity. This technology, which utilizes printed barcodes and scanning devices, has become an essential tool for managing inventory, asset tracking, and industrial automation. Despite its widespread adoption, the integration of barcode technology in e-retailers and the warehousing sector faces several challenges. One significant obstacle is the complexity of managing large volumes of data generated by barcode scanning. To address this issue, cutting-edge features such as virtual reality (VR) and cloud-based solutions have emerged, enabling real-time data processing and analysis. Another challenge is ensuring the accuracy of barcode scanning, particularly with the increasing use of two-dimensional barcodes and CCD devices.
However, to address this, advanced barcode verifiers and machine vision solutions are being adopted to improve scanning accuracy and reduce errors. Furthermore, emerging technologies such as blockchain and machine learning are expected to revolutionize the way barcode technology is used, offering enhanced security and predictive analytics capabilities. In conclusion, barcode technology continues to play a crucial role in the retail and warehousing sectors, enabling efficient inventory management, asset tracking, and industrial automation. Despite the challenges, the technological advantages offered by barcode technology far outweigh the obstacles, making it an indispensable tool for businesses looking to streamline their operations and gain a competitive edge.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The rugged barcode scanner segment is estimated to witness significant growth during the forecast period. Barcode scanning technology plays a crucial role in various industries, including retail, healthcare, and logistics, by enabling efficient inventory control and data collection. Two primary types of barcode scanners are stationary and remote solutions. Stationary scanners are fixed in place and are commonly used in retail environments such as shopping malls and supermarkets for bulk scanning of items. On the other hand, remote solutions, such as RFID tags, offer hands-free scanning and are increasingly being adopted in healthcare settings for patient data management.
Further, rugged handheld barcode scanners are popular in the retail and hospitality industries due to their durability and ability to deliver faster and more consistent scanning. Their use results in lower transactional times, real-time data storage and monitoring, and improved operational efficiency. In conclusion, barcode scanning technology, including rugged handheld scanners, plays a vital role in industries like retail, healthcare, and logistics by enabling efficient inventory control, data collection, and storage. The use of barcode scanning technology helps prevent medication errors and mismanagement of inventory, ultimately contributing to better operational efficiency and customer satisfaction.
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The rugged barcode scanner segment accounted for USD 4.77 billion in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 28% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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In North America, the market has experienced notable growth due to technological innovations and the expanding utilization of barcode labels in diverse industries. Barcode scanning technology is essential for scanning various materials, including paper, plastic, and metal, featuring codes that facilitate automated data capture. This process enhances productivity and minimizes human errors. In the US and Canadian markets, the retail sector is a significant driver of the barcode scanner industry's growth. Retailers employ barcode scanners for efficient record-keeping, inventory management, and product tracking. Two-dimensional barcode scanners, such as CCD readers and LED-based scanners, are increasingly popular due to their ability to read complex barcodes. Conversely, fixed barcode scanners and laser-based scanners continue to dominate the market due to their high-speed data capture capabilities. The integration of CMOS sensors in barcode scanners further enhances their performance, enabling better image quality and faster scanning. Overall, the North American market is poised for continued growth, driven by technological advancements and the increasing demand for automation and data accuracy.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising adoption of wearable barcode scanners in manufacturing industry is the key driver of the market. Barcode scanning technology has become indispensable in various industries, particularly in the e-retail and retail sectors, as well as the warehousing sector. By utilizing cutting-edge barcode scanners, businesses can efficiently track inventory, streamline logistics, and enhance overall productivity. Wearable barcode scanners have gained significant attention due to their convenience and mobility. These devices enable users to scan barcodes hands-free, making it an ideal solution for industries requiring continuous scanning activities. Automotive industries, for instance, have adopted wearable barcode scanners to manage complex production and inventory processes. Plant managers in this sector face the challenge of managing logistics operations while simultaneously overseeing production tasks.
Additionally, wearable barcode scanners offer technological advantages, such as real-time data capture and seamless integration with enterprise resource planning (ERP) systems, which help streamline operations and improve overall efficiency. The potential growth in the market is substantial, with e-retailers and retailers increasingly relying on these tools to manage their inventory and enhance the shopping experience for customers. Wearable barcode scanners offer a more ergonomic and efficient solution compared to traditional handheld scanners, making them a popular choice for businesses looking to optimize their operations and stay competitive in the market.
Increasing adoption of two-dimensional (2D) barcodes is the upcoming trend in the market. The market in the United States is witnessing significant growth due to the increasing utilization of advanced barcode technologies in various sectors. Charge-Coupled Device (CCD) and laser-based barcode readers are increasingly being adopted in industries such as Commercial Aviation and Defense for recording product information. In addition, pen-style and cordless scanners are gaining popularity in logistics and warehouse applications. Sensors in these scanners enable omnidirectional scanning, allowing for efficient product handling and inventory management.
Further, two-dimensional (2D) barcodes, including QR codes, Data Matrix, and PDF417, are driving market expansion. QR codes, the most widely used 2D barcode, can be scanned using mobile devices like smartphones and tablets.PDF417, with its unique pattern of four bars and spaces, is primarily employed for inventory management in retail, healthcare, and transportation industries. These advancements are enhancing productivity and streamlining processes in various sectors.
Increased adoption of RFID solutions is a key challenge affecting the market growth. Barcode scanning technology has evolved significantly over the years, with various types of scanners catering to diverse industry requirements. Handheld and stationary barcode scanners, available in wired and wireless versions, continue to be widely used in retail and commercial sectors for swift and accurate data collection. In contrast, rugged and non-rugged barcode scanners ensure durability for harsh environments. Camera-based readers and laser scanners offer different scanning methods, while pen-type readers provide a more portable solution. Another emerging technology, RFID (Radio Frequency Identification), utilizes small RFID devices for identification and tracking purposes, replacing traditional barcodes and scanners in several industries.
Additionally, though barcodes and RFID tags share similarities in their functionalities, the former requires line-of-sight access, whereas RFID tags can be read at a distance. Manufacturers and businesses are increasingly adopting RFID technology for its advantages, such as contactless data collection and real-time inventory management. RFID tags and RFID readers are being implemented in various sectors, including retail, healthcare, and logistics, to streamline operations and enhance efficiency. As technology continues to advance, the choice between barcodes and RFID tags will depend on the specific needs and preferences of each industry.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Datalogic SpA - The company offers data man 8700 series and DataMan 8050 series handheld barcode readers, which are deisgned to accommodate 1D and 2D label based barcodes as well as direct part marked codes for widest variety of surfaces and marking methods.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is witnessing significant growth in various sectors, including e-retailers and the retail sector, as well as the warehousing sector. Barcode technology is revolutionizing the way businesses manage inventory, record-keeping, and data collection. However, obstacles such as the high initial investment and the need for advanced technology may hinder market growth. Barcodes are essential for tracking products and have numerous technological advantages, including cutting-edge features like camera-based readers, laser scanners, pen-type readers, RFID readers, and more. These scanners come in various forms, such as handheld, stationary, wired, wireless, rugged, and non-rugged, catering to different industries like retail and commercial, healthcare, commercial aviation, defense, and more. Barcoding technology is not limited to inventory control but also extends to logistics and warehouse management, patient data tracking, and medication-related mistakes prevention.
Further, barcode scanners are electronic devices that read printed barcodes and convert them into electrical signals, decoded by a decoder circuit. They come with advanced features like sensors, wireless networking, and advanced image capturing, such as augmented reality (AR) and virtual reality (VR), blockchain, cloud-based solutions, and portable computers. Barcode scanners are essential for industries that require asset tracking, inventory management, and brand recognition, such as shopping malls, supermarkets, and pharmaceuticals. They offer potent solutions for recording product information, including two-dimensional barcode scanners, CCD devices, and CMOS sensors. With the increasing adoption of barcode technology, the market is expected to witness potential growth in the coming years.
Market Scope |
|
Report Coverage |
Details |
Page number |
174 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.61% |
Market growth 2024-2028 |
USD 3.51 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.32 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 28% |
Key countries |
US, Canada, China, Japan, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ASSA ABLOY AB, AURES Group, Bluebird Inc., CipherLab Co. Ltd., Cognex Corp., Datalogic SpA, DENSO Corp., Generalscan Inc., Honeywell International Inc., MilDef Group AB, Newland Digital Technology Co. Ltd., OMRON Corp., Opticon, SATO Holdings Corp., SICK AG, TVS Electronics Ltd., Unitech Electronics Co. Ltd., Zebra Technologies Corp., NCR Voyix Corp, and Brady Corp. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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