Barcode Readers Market Size & Industry Share - Growth Trends & Forecasts (2023 - 2030)

Based on the Type :

Based on the type, the market is bifurcated into portable and fixed. In 2022, the fixed segment accounted for the highest barcode readers market share Fixed-position readers include stationery scanners and presentation scanners used in logistics and manufacturing applications to track products or inventory as they move through the production process. Analysis of barcode readers market trends concludes that the application of fixed readers in retail stores and shopping malls is driving the proliferation of the market. Fixed readers are deployed in retail sector for check-out applications, where fast and accurate transaction is ensured in both grocery and non-food retail stores.

The portable segment is anticipated to witness fastest CAGR during the forecast period. Portable readers include rugged scanners, PDA scanners, and automatic readers deployed in a wide variety of settings, including warehouses, retail stores, and office buildings. Portable readers play a crucial role in tracking shipping, receiving, and Work-In-Progress (WIP) inventories. Moreover, they are utilized for patient identification, medical records management, and medication verification in the healthcare sector. For instance, in September 2020, Omron Corporation launched V4 10-H handheld barcode reader offering applications in life science and industrial applications. Analysis of market trends concludes that the application of the readers in hospitals and other medical facilities is accelerating the barcode readers market growth.

Based on the Application:

Based on the application, the market is separated into error optimization, biometrics, inventory control & management, and others. The inventory management & control segment accounted for the largest revenue share of 34.23% in the year 2022. Barcode scanning technology allows businesses to track inventory efficiently by scanning the barcodes on products stored in a storeroom or warehouse. For instance, in November 2021, iTradeNetwork introduced a new mobile solution called OrderMaestro featuring Scan-to-Search feature that automates and streamlines inventory and order management for foodservice operators by simple barcode scanning, voice recognition, and others. Therefore, barcodes reader plays a crucial role in automating inventory management processes for managing and storing a large number of products efficiently in a limited space.

The error optimization segment is anticipated to register fastest CAGR growth during the forecast period. Barcode scanning technology allows businesses to reduce and optimize errors during various business operations. Barcode scanner reduces the chances of human error, thereby increasing the productivity of the business. Moreover, barcodes scanners increase the efficiency of business operations by conserving resources, saving money, and improving the overall productivity of the business.

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Based on the End-User:

Based on the end-user, the market is segregated into retail & wholesale, logistics & warehousing, manufacturing, healthcare, and others. The logistics & warehousing segment accounted for the largest revenue share in the year 2022. Logistics and warehousing involve collection of manual information from barcodes to perform inventory counts and management. Therefore, the readers allow businesses to maintain a record of each container, rack and item by following a digitized and automated procedure. The barcode readers market analysis concluded that the deployment of barcode scanners in warehouses for quality control applications is driving the expansion of the market.

The retail & wholesale segment is anticipated to register the fastest CAGR growth during the forecast period. The readers are utilized for configuration needs at the checkout counter as it ensures accurate inventory tracking. Moreover, they have application including order receiving and restocking purposes to ensure smooth and proper functioning of retail operations. For instance, in September 2022, Social Mobile launched a wireless handheld barcode scanner called RHINO T5se featuring integrated Honeywell scan engine and Push-to-Talk buttons in retail sector. Thus, the ability of barcode scanners to streamline internal and external retail operations is contributing to the expansion of the market.

Based on the Region :

The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

North America accounted for the largest revenue share in the year 2022. The high demand for automation in the region due to the need for improved efficiency, increased productivity, and reduced operational costs is driving the proliferation of barcode readers market. Examination of market trends concludes that North America has a high adoption rate of advanced technologies in the region to facilitate automation in various industries further accelerate the growth of the barcode readers market. Additionally, key players such as Microscan Systems, Zebra Technologies, and Code Corporation are constantly driving innovation and developing new scanning solutions, leading to the expansion of the market.

The Asia-Pacific region accounted for a revenue share of USD 1,648.66 million in 2022 and is expected to reach USD 4,009.24 million in 2030, registering a CAGR of 12.0% during the forecast period. Additionally, in the region, China accounted for the largest revenue share of 27.6% in the year 2022. The demand for barcode readers in Asia-Pacific is attributed to the growing e-commerce, logistics, and warehouse industry. Their increasing demand to streamline various business operations such as inventory management and error optimization in the aforementioned industries is driving the expansion of the market. Therefore, key players are adopting various business strategies for developing advanced barcode scanning systems. For instance, in January 2023, CipherLab Co., Ltd. launched 2564ER Rugged Handheld Scanners providing flexibility of operations in warehouse and manufacturing industries. Examination of market trends concludes that the expansion and retail and warehouse automation is driving the proliferation of the regional market.