2D Barcode Reader Industry Overview
The global 2D barcode reader market size was valued at USD 6.79 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.7% from 2021 to 2028. The growing adoption of 2D barcode scanners for inventory control and gathering business intelligence for business process optimization is expected to drive growth. Analyzing the demand patterns across the retail industry becomes more accurate and easier due to barcode scanners. Moreover, barcode reader systems are flexible and easy to understand, which results in minimum employee training. Thus, barcode readers are widely adopted across various industries and industry verticals due to their advantages, such as reduced downtime, prevention of incorrect deliveries and recalls of products, and robust control on tracking assets and quality information. Moreover, amid the outbreak of the COVID-19 pandemic, the growing preference for contactless payment and contactless delivery solutions is also driving the adoption of barcode readers.
Incumbents of various industries and industry verticals, such as retail and manufacturing, are anticipated to aggressively adopt the barcode technology for accurate tracking of product batches and individual products as well as for auditing their inventories. Moreover, barcode readers play a pivotal role in increasing the operational efficiency of businesses. With advantages, such as higher accuracy, speed, reduced clerical cost, and better customer service, barcode scanning systems are becoming a prominent tool for streamlining internal and external operations. Moreover, with the compact design, flexibility, and a payback period of three to six months, barcode scanners are becoming vital to the industrial sector.
Gather more insights about the market drivers, restraints and growth of the Global 2D Barcode Reader market
The increasing use of barcode technology as an automatic identification/ scanning system can potentially reduce human errors. Whether it is to speed up the checkout process in the retail sector or to track the inventory in a warehouse, barcode scanners have paved their way into a large variety of business operations. These devices help businesses in conserving their resources, optimizing the data entry process, improving real-time visibility of the products, and enhancing employee productivity.
For instance, several healthcare facilities in the U.S. use barcode technology to prevent errors in the identification of patients throughout their admission process, organize the patient admittance process, and track the care admission and medication being administered to patients. Each patient is given a unique barcode wristband, which is linked to the facility’s computers, thereby ensuring a unique patient record. When a nurse scans the wristband for the medication to be administered, it is sent to the central computer, where a software cross-checks various databases, and either an approval is generated or a warning is triggered. In event of a mismatch between the barcode label on the medication and the patient’s record, a warning is issued, which in turn, helps in avoiding any medication errors. This eventually drives process optimization and increases the usability of 2D barcode readers across the healthcare sector.
Shopping and purchasing in supermarkets and hypermarkets are turning out to be day-to-day activities, especially in metro cities across the world. With the increasing footfall on weekends and holidays, managing the long queues and busy billing counters is turning to be a tedious task for the employees of the supermarkets and hypermarkets. However, digitalization has induced a paradigm shift in shopping activities and operations. Retail stores are reinventing themselves with electronic shopping systems to reduce the pressure on their workforce and create a better shopping experience for the customers. Retailers can increase the turnaround times by installing the 2D barcode technology. As such, the demand for 2D barcode readers is estimated to grow significantly during the forecast period.
As digital shopping becomes more popular among consumers worldwide, the advent of wireless technology has further strengthened the transition to digital shopping. The increased adoption of barcode scanners that can be integrated with high-speed, wireless networks can potentially help in eliminating long waiting times at the check-out terminals in retail stores. This, combined with automated billing systems, can potentially make the shopping process faster, transparent, and efficient; while enhancing consumer satisfaction. All these factors are encouraging businesses to adopt 2D barcode-based systems, thereby driving the growth of the market.
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2D Barcode Reader Market Segmentation
Grand View Research has segmented the global 2D barcode reader market based on product type, application, and region:
2D Barcode Readers Product Type Outlook (Revenue, USD Million, 2016 - 2028)
- Handheld
- Fixed
2D Barcode Readers Application Outlook (Revenue, USD Million, 2016 - 2028)
- Warehousing
- Logistics
- E-commerce
- Factory Automation
2D Barcode Readers Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- Asia Pacific
- China
- India
- Japan
- South America
- Brazil
- Middle East & Africa
Market Share Insights
November 2020: Datalogic S.p.A. announced the launch of the new Gryphon 4200 linear imager series. The new product is ideal for healthcare applications, retail POS checkout, ticketing, entertainment access control, order processing, and manufacturing work-in-progress applications.
Key Companies profiled:
Some prominent players in the global 2D Barcode Reader Industry include
- DENSO WAVE INCORPORATED
- CASIO COMPUTER CO., LTD.
- Cognex Corporation
- Datalogic S.p.A.
- Honeywell International, Inc.
- Juniper Systems Inc.
- Zebra Technologies Corp.
- KEYENCE CORPORATION
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