The global 2D Barcode Reader market size is expected to be worth around US$ 13.6 billion by 2030, according to a new report by Vision Research Reports.
The global 2D Barcode Reader market size was valued at US$ 8.79 billion in 2020 and is anticipated to grow at a CAGR of 7.7% during forecast period 2021 to 2030.
|Market Size||USD 13.6 billion by 2030|
|Growth Rate||CAGR of 7.7% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Product type, Application|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Cognex Corporation; DENSO WAVE INCORPORATED; Datalogic S.p.A; Honeywell International, Inc.; KEYENCE CORPORATION|
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.
By Product Type Analysis
The handheld segment dominated the 2D barcode reader market in 2020 and accounted for more than 60% of the revenue share. The segment is projected to register a CAGR of over 5.0% over the forecast period owing to the numerous benefits, such as mobility and operational flexibility, handheld barcode readers can offer as compared to the fixed barcode readers.
The competitive pricing of barcode readers is highly dynamic across different regions. There are several handheld and fixed barcode readers available across different price ranges in the market. Buyers often compare several options, including the specific application the barcode readers are supposed to serve and a try for a better bargain on price before making a buying decision.
By Application Analysis
The warehousing segment dominated the market in 2020 and accounted for more than 35.0% of the global revenue. The segment is expected to continue dominating the market over the forecast period. Moreover, as online retail has gained traction over the past decade, it continues to expand at a healthy pace across the globe, with developments in warehousing and logistics playing a significant role in its overall growth.
The ability to accurately track products is turning out to be a core requirement for online shopping providers. Thus, the growing need to manage and record sales information of products across the warehousing and logistics areas is emerging as one of the key factors that are expected to drive the growth of the market for 2D barcode readers.
By Regional Analysis
The Asia Pacific dominated the market in 2020 and accounted for a global revenue share of over 40.0%. The growth can be attributed to the growing e-commerce and retail industry in the regional market. Moreover, as manufacturing activities continue to evolve, the deployment of automated warehouses has also triggered the demand for 2D barcode readers.
MEA is anticipated to emerge as the fastest-growing regional market over the forecast period. The rapidly-changing customer preferences for more convenient and less time-intensive retail experiences coupled with the advent of digitalization in the retail industry are driving the growth of the e-commerce industry across the Gulf countries.
DENSO WAVE INCORPORATED
CASIO COMPUTER CO., LTD.
Honeywell International, Inc.
Juniper Systems Inc.
Zebra Technologies Corp.
Middle East & Africa
The 2D Barcode Reader market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of 2D Barcode Reader market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global 2D Barcode Reader market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the 2D Barcode Reader market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted 2D Barcode Reader market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the 2D Barcode Reader capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of 2D Barcode Reader by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global 2D Barcode Reader market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major 2D Barcode Reader market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of 2D Barcode Reader market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the 2D Barcode Reader industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
2D Barcode Reader market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to 2D Barcode Reader market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of 2D Barcode Reader market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new 2D Barcode Reader market. These factors have benefited the growth of the global market for 2D Barcode Reader. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for 2D Barcode Reader. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of 2D Barcode Reader are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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