Barcode Scanner Market size was valued at USD 6.81 billion in 2019 and is poised to grow from USD 7.32 billion in 2023 to USD 12.15 billion by 2031, growing at a CAGR of 7.5% in the forecast period (2024-2031).
The Research report on Barcode Scanner Market presents a complete judgment of the market through strategic insights on future trends, growth factors, supplier landscape, demand landscape, Y-o-Y growth rate, CAGR, pricing analysis. It also provides and a lot of business matrices including Porters Five Forces Analysis, PESTLE Analysis, Value Chain Analysis, 4 Ps' Analysis, Market Attractiveness Analysis, BPS Analysis, Ecosystem Analysis.
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Segmental Analysis
- ProductHandheld Barcode Scanner, Stationary Barcode Scanner
- TypeWired Barcode Scanner, Wireless Barcode Scanner
- Scanner TypeRugged Barcode Scanner, Non-Rugged Barcode Scanner
- TechnologyCamera Based Reader, Charge Coupled Device Reader, Laser Scanner and others
- End UserRetail and Commercial, General Manufacturing, Healthcare and Other
Market Dynamics
Barcode Scanner Market Drivers
Growing demands for digital solutions
- The market has been driven by the increasing need for remote solutions across various sectors. The increasing number of international logistics service providers is another factor boosting the market growth. The effectiveness and operational efficiency of the barcode scanner will also enable most stores in the coming years to maintain inventory control without making mistakes. The time is cut in half, and during the forecast period, the market may grow. Also, the growth of shopping malls and supermarkets across various countries is also driving growth of the barcode scanner industry.
Rising barcode scanner usage in the healthcare sector to drive market growth
- Barcode scanners are being applied in more and more applications in the healthcare industry. Utilizing barcode scanners has advanced the process of accurately recording patient data, allowing the correction of any inaccuracies which may occur as well as a reduction in medication-related mistakes when a patient is being treated at a hospital. Moreover, barcode scanner technology can fix around 51% of pharmaceutical errors, according to IMNA. According to the US Food and Drug Administration (FDA), every drug is given a National Drug Code, a 10-digit identification number, to enable quick and easy collection and preservation of the relevant drug information. Thus, during the forecast period, these factors are expected to drive the growth of the global barcode scanners market.
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By Regions and Countries
o North America
o Europe
o Asia-Pacific
o South America
o Middle East & Africa
Following are the players analyzed in the report
• Honeywell International Inc.• Zebra Technologies Corporation• Datalogic S.p.A.• Wasp Barcode Technologies• Symbol Technologies, Inc.• Opticon Sensors Europe BV• Code Corporation• SATO Holdings Corporation• CipherLab Co., Ltd.• Axicon Auto ID Ltd.• Unitech Electronics Co., Ltd.• Microscan Systems, Inc.• Newland EMEA• Cognex Corporation• Bluebird Inc.• Denso Wave Incorporated• NCR Corporation• Handheld Group AB• Seuic Auto-ID Technology Co., Ltd.• NADAMOO Inc.
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The research provides answers to the following key questions:
• What is the estimated growth rate of the market for the forecast period 2024-2031? What will be the market size during the estimated period?
• What are the key driving forces responsible for shaping the fate of the Barcode Scanner Market during the forecast period?
• Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Barcode Scanner Market?
• What are the prominent market trends influencing the development of the Barcode Scanner Market across different regions?
• What are the major threats and challenges likely to act as a barrier in the growth of the Barcode Scanner Market?
• What are the major opportunities the market leaders can rely on to gain success and profitability?