North America will remain as a leading market, accounting for over 30% value share in 2021. Barcode scanner demand outlook for North America is expected to remain positive with the healthcare sector touted as leading contributor.
Future Market Insights (FMI) in its latest report titled “Barcode Scanner Market: Global Industry Analysis and Opportunity Assessment, 2021–2031” reveals that use of barcode technology is rapidly rising in both retail and manufacturing industries. The market is expected to grow at a CAGR of over 7.6% between 2021 and 2031. Increase in healthcare sector is expected to increase the demand for barcode scanners over the assessment period.
Barcode solutions are currently being used across a variety of domains due to their exponential capabilities in systematically recording information such as product count, date of manufacturing, date of supply to the retailer, and selling price. Furthermore, the emergence of e-commerce and intra-regional markets that provide specialised services to a diverse range of industries has broadened its application base.
Barcode scanners’ technological advantages and cutting-edge features are also making them popular in the healthcare industry. Medical practitioners and physicians can easily obtain information about medicines and their manufacturing dates thanks to barcode technology.
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The global barcode scanner market is estimated to be valued worth US$ 7 Bn in 2021, according to FMI. The market is expected to register robust growth on the backdrop of healthy demand from retail, e-commerce and logistics, healthcare, and manufacturing sectors.
However, camera-based reader is anticipated to see the fast adoption as these scanners are innovative and configured with advanced 2D imaging technology. Based on product type, portable/handheld scanners are expected to remain top choices of barcode scanners amongst consumers over the forecast period.
Owing to characteristics such as faster print speed and versatility, demand for portable/handheld barcode scanners is rapidly increasing in various parts of the world. Use of barcode scanners in the retail and commercial sector continues to be the highest and is expected account for a major chunk of revenue over the forecast period. Meanwhile, the healthcare industry is swiftly adopting the barcode technology as well.
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Competitive Landscape
Market players are targeting APEJ as their key sales region. Zebra Technologies Corporation, Honeywell International Inc., DataLogics S.P.A, Cognex Corporation, OCOM Technologies, Wasp Barcode Technologies, JC Square Inc., SATO Holdings Corporation, Scandit AG and Toshiba TEC Corporation are some of leading companies profiled in the FMI report.
Amongst regions, markets in Asia Pacific excluding Japan (APEJ) and North America are expected to exhibit high growth potentials. In APEJ, China and India are projected to achieve impressive growth of their barcode scanner market. By 2017-end, the region is projected to account for a revenue share of 29.5%, which is expected to increase to 33.8% towards the end of the forecast period.
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Market segmentation
By Product Type
By End Use
By Technology
By Region
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Aug 29, 2022
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