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Global Barcode Readers Market growing at a CAGR of 11.9% from 2023 to 2030

Category : Semiconductor And Electronics | Published Date : Jun 2023

Key Market Overview

The global barcode readers market was valued at USD 5,982.07 Million in 2022 and is expected to register a compound annual growth rate of 11.9% to reach USD 14,447.72 Million in 2030.

The report highlights the increasing demand for barcode readers in retail and e-commerce industry to streamline business operations. Consegic Business Intelligence provides an inclusive research report on the barcode readers market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends.

Global Barcode Readers Market By Overview

Global Barcode Readers Market

The report analyses significant segments such as type, application, end-user and region, to identify emerging trends and potential opportunities. The end-user segment is expected to grow due to the increasing adoption of barcode readers in warehouse and logistics operations. Barcode readers helps in keeping a record of each rack, container, and item by following a digitized and automated procedure. Moreover, the application of barcode readers in retail and e-commerce industry for inventory control and management is accelerating the growth of the market.

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Market Dynamics

Driver:

 

  • The increasing demand for barcode readers in retail industry to streamline business operations is driving the growth of the market.
  • The growing adoption of barcode readers in the healthcare industry to manage patient records and data is proliferating the growth of the market.
  • The increasing adoption of barcode readers in e-commerce industry is accelerating the growth of the market.

 

Restraints:

  • The presence of alternatives including RFID (Radio Frequency Identification) tags that use electromagnetic fields to identify and scan tags is hindering the growth of the market.
  • The inability of barcode readers to detect objects above 15 feet range is restraining the growth of the market.

Market Segmentation:

Report Attributes Report Details
By Type Portable and Fixed
By Application Error Optimization, Biometrics, Inventory Control & Management, and Others
By End-User Retail & Wholesale, Logistics & Warehousing, Manufacturing, Healthcare, and Others
By Region North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Competitive Landscape :

The global barcode readers market is highly competitive due to the presence of major players such Wasp Barcode Technologies, Microscan Systems, Denso, Motorola solutions, Honeywell, Datalogic, Opticon, Zebra Technologies, Unitech Electronics Co., operating in the global market. The market players are adopting new ways through product innovations, mergers and acquisitions, and business strategies to remain hold strong market position. Thus, evolving research and developments in barcode readers market are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various industries.

  • Wasp Barcode Technologies
  • Microscan Systems
  • Denso
  • Motorola solutions
  • Honeywell
  • Datalogic
  • Opticon
  • Zebra
  • Unitech Electronics Co., Ltd.
  • Cognex Corp
  • Bluebird Inc.
  • Newland EMEA
  • Code Corporation
  • CipherLab Co., Ltd.