Global 2D Barcode Reader Market 2024

Global 2D Barcode Reader Market 2024

The global market for 2D barcode readers is expected to experience significant growth, primarily driven by the increasing use of barcode scanners in digital shopping and the rapid expansion of the e-commerce and logistics sectors. Various industries, including retail, manufacturing, and industrial, rely on barcodes to accurately track and manage inventory, individual products, or batches of products. In order to decode and interpret the data stored in barcodes, a scanner is essential. Barcode scanners play a crucial role in ensuring robust inventory control management and improving the efficiency, speed, and accuracy of businesses.

There are several drivers contributing to the growth of the 2D barcode reader market. Firstly, businesses are striving to reduce error rates and enhance operational efficiency, which can be achieved through the use of barcode scanners. Additionally, the proliferation of barcode scanners in digital shopping has created a demand for these devices. Furthermore, the remarkable expansion of the e-commerce and logistics sectors has further fueled the market growth.

However, there are also restraints that need to be considered. The development of smartphone-based applications for scanning barcodes poses a challenge to the market. These applications provide an alternative method for barcode scanning, potentially reducing the demand for handheld 2D barcode readers.

The handheld 2D barcode reader, also known as the gun type reader, is estimated to reach a market value of USD 5.3 billion by 2029, with a compound annual growth rate (CAGR) of 6.2% during the forecast period. This growth can be attributed to the advantages offered by handheld readers, such as mobility and operational flexibility, compared to fixed barcode readers. Handheld readers are designed like handguns, featuring a grip and trigger, enabling easy scanning of products that cannot be lifted. They are smaller and lighter in weight, making them portable within a facility.

In the warehousing application market, the 2D barcode reader segment is estimated to reach a value of USD 3.2 billion by 2029, with a CAGR of 5.4% during the forecast period. Businesses are heavily investing in enhancing their storage facilities and adopting lean operations. The warehousing process involves transportation of goods from suppliers or production units to warehouses, recording and storing them at designated locations, and retrieving them for repackaging and shipment. All these processes require data entry at various stages, and barcode technology proves to be cost-effective and efficient for tracking and identifying products across warehouses.

Barcodes have found widespread use across various industries, including marketing, advertising, food services, electronics, automotive, engineering, healthcare, manufacturing, warehousing, aerospace, and telecommunications. The digitization of the retail market, particularly in India and China, presents numerous growth opportunities for the 2D barcode reader market.

In North America, the market for 2D barcode readers is estimated to reach USD 2.9 billion by 2029, with a CAGR of 5.8% during the forecast period.

This comprehensive industry report provides market estimates and forecasts, accompanied by a detailed examination of the product type, application, and region aspects. It delivers a quantitative analysis of the market, empowering stakeholders to leverage existing market opportunities. Furthermore, the report identifies key segments for potential opportunities and strategies, drawing insights from market trends and the approaches of leading competitors.

The global baby bottle market has been extensively analyzed by categorizing it according to various sub-segments in order to provide accurate forecasts of industry size and assess trends within specific areas.

The global market for 2D barcode reader can be segmented by product type: handheld, fixed. Handheld was the largest revenue contributor to the global 2d barcode reader market, representing 61.2% of the market in 2023. During the forecast period, the handheld segment is projected to witness the highest growth rate.

2D barcode reader market is further segmented by application: warehousing, logistics, e-commerce, factory automation, others. Warehousing was the highest contributor to the global 2D barcode reader market, with 39.4% share in 2023. Going forward, the logistics segment is projected to witness the highest CAGR during the forecast period.

Based on region, the 2D barcode reader market is segmented into: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America. North America was the highest contributor to the global 2D barcode reader market, with 34.5% share in 2023. Going forward, Asia-Pacific is projected to witness the highest CAGR during the forecast period.

The global 2D barcode reader market report offers detailed information on several market vendors, including Zebra Technologies Corp., Honeywell International, Inc., Denso Wave Incorporated, Cognex Corporation, Keyence Corporation, Casio Computer Co., Ltd., Datalogic S.p.A., General Data Company, Inc., Novanta Inc., Juniper Systems, Inc., Omron Microscan Systems Inc., SATO Holdings Corporation, Scandit AG, Sick AG, Unitech Electronics Co., Ltd., Zebex Industries, Inc., among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

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Market Segments Covered in Global 2D Barcode Reader Industry Analysis:

i.) Product type

• Handheld
• Fixed

ii.) Application

• Warehousing
• Logistics
• E-commerce
• Factory automation
• Others

iii.) Region

• North America
• Europe
• Asia-Pacific
• MEA (Middle East and Africa)
• Latin America