Market Research Future (MRFR) has published on the “Global 2D Barcode Reader Market”
that contains information from 2018 to 2032. The 2D Barcode Reader market is estimated to register a CAGR of 8.80% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global 2D barcode reader market— Casio Computer Co., Ltd., Cognex Corp., Datalogic SpA, Denso Wave Inc., General Data Company, Inc., Honeywell International, Inc., JADAK - A Novanta Company, Juniper Systems Inc., Keyence Corp., Marson Technology Co., Ltd., Omron Microscan Systems, Inc., Sato Holdings Corp., Scandit, Sick AG, Unitech Electronics Co., Ltd., Wasp Barcode Technologies, Zebex Industries Inc., and Zebra Technologies Corp..
The global 2D barcode reader market is accounted to register a CAGR of 8.80% during the forecast period and is estimated to reach USD 16.0 Billion by 2032.
The market's growth can be ascribed to the growth of the global e-commerce industry as well as shifting trends in the warehousing and logistics industries. Maintaining sales data, ensuring proper timing, and tracking products across supply chain networks in real-time are increasingly of the utmost importance to support the quick rise of the online retail sector. For internet sellers, real-time product tracking has become an essential demand. Currently, 2D barcode readers are essential for managing inventory levels and sales data.
The global 2D barcode reader market has been segmented based product type and application
On the basis of product type, the market is segmented into handheld and fixed. In 2022, the handheld category accounted for the greatest revenue share. A handheld device can be used for a wide range of purposes.
Based on application, the global 2D barcode reader market has been segmented into warehousing, logistics, e-commerce, factory automation and others. In 2022, the worldwide 2D barcode reader market was dominated by the warehousing segment. Moving containers, bulk inventory, and individual goods between various separate places is an essential warehouse operating practice.
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The global 2D barcode reader market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe 2D Barcode Reader market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The 2D Barcode Reader market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World 2D Barcode Reader market comprises of Middle East, Africa, and Latin America.
The largest market share for 2D barcode reader was maintained by the North American regional sector. Customers may now purchase and return items whenever it is most convenient for them thanks to the rise of online shopping and the rising popularity of social media platforms, particularly in industrialized countries like the U.S.
Moreover, the Europe market has been persistently growing over the forecast period. As more organizations implement 2D barcodes to properly track product, location, manufacturer, and related specification data, there will likely be more growth prospects for the 2D barcode reader market in Europe.
Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period. Demand for 2D barcode readers has increased as a result of the growth of the e-commerce, logistics, and warehouse industries in the Asia Pacific area. Additional factors driving demand for 2D barcode readers include the rollout of 5G, increased government efforts towards industry 4.0 for the automation and digitalization of industries, and greater digitization.
Furthermore, the rest of the world's 2D barcode reader market is divided into the Middle East, Africa, and Latin America. The necessity for effective inventory management, rising e-commerce activity, and the expanding use of traceability and authentication systems are just a few of the causes contributing to this increase. Two-dimensional barcodes, such QR codes and Data Matrix codes, can hold a lot more data than linear barcodes can, hence 2D barcode readers are tools that can scan and decode these types of barcodes.
Key Findings of the Study