Global 2D Barcode Reader Market Insights Forecasts to 2032
- The 2D Barcode Reader Market Size was valued at USD 6.37 billion in 2022.
- The market is growing at a CAGR of 7.2% from 2023 to 2032
- The global 2D barcode reader market is expected to reach USD 12.77 billion by 2032
- Latin America is expected to grow the fastest during the forecast period
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The Global 2D Barcode Reader Market Size is expected to reach USD 12.77 billion by 2032, at a CAGR of 7.2% during the forecast period 2023 to 2032.
A 2D barcode reader is a device that uses optical technology to scan and decode two-dimensional barcodes. These barcodes can store much more information than traditional linear barcodes, making them more versatile and useful in a variety of industries, such as retail, healthcare, and logistics. 2D barcode readers use cameras or laser scanners to capture the barcode image, which is then processed by software to extract the encoded data. They are commonly used in mobile devices such as smartphones and tablets, as well as in dedicated barcode scanners. 2D barcode readers are fast, accurate, and reliable, and have become an essential tool for many businesses.
This research report categorizes the market for 2D barcode reader market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the 2D barcode reader market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the 2D barcode reader market.
The drivers of the 2D barcode reader market include the growing adoption of e-commerce and the need for efficient supply chain management, as well as the increasing use of smartphones and other mobile devices that support barcode scanning. Additionally, the popularity of contactless payment methods and the need for improved inventory management in the retail sector are driving demand for 2D barcode readers. The healthcare industry is also a significant driver, as 2D barcodes are used for medication tracking, patient identification, and medical equipment management. Finally, advancements in technology, such as improved scanning accuracy and faster processing speeds, are also contributing to the growth of the 2D barcode reader market.
Global 2D Barcode Reader Market Report Coverage
|Market Size in 2022:
|USD 6.37 Billion
|2022 - 2032
|Forecast Period 2022 - 2032 CAGR:
|2032 Value Projection:
|USD 12.77 Billion
|Historical Data for:
|2018 - 2021
|No. of Pages:
|Tables, Charts & Figures:
|By Product Type, By Application, By Region
|Casio Computer Co., Ltd., Cognex Corp., Datalogic S.P.A., 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. Zebra Technologies Corp.
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The restraints of the 2D barcode reader market include the high cost of implementation, which can be a barrier for smaller businesses. The need for regular maintenance and software updates can also add to the overall cost of ownership. Additionally, some industries may still rely on traditional linear barcodes, which limits the potential market for 2D barcode readers. Security concerns may also be a factor, as the use of 2D barcodes can potentially expose sensitive data if not properly secured. Finally, the limited data storage capacity of some 2D barcodes may restrict their use in certain applications, such as large-scale inventory management.
- In 2022, the handheld segment accounted for around 71.5% market share
On the basis of the product type, the global 2D barcode reader market is segmented into handheld and fixed. The handheld segment is dominating with the largest market share in 2022. Handheld barcode readers offer convenience and portability, allowing employees to move around freely and scan barcodes without being tethered to a fixed location. They are also versatile, capable of reading a wide variety of barcode formats, making them suitable for use in various applications. Additionally, the cost of handheld barcode readers is lower than fixed devices, making them more accessible to smaller businesses. The handheld segment is expected to grow due to the increasing adoption of mobile devices and the growing demand for mobile barcode scanning solutions.
- In 2022, warehousing segment dominated the market with more than 35.8% revenue share
Based on application, the global 2D barcode reader market is segmented into warehousing, logistics, e-commerce, and factory automation. Out of this, the warehousing segment is dominating the market with the largest market share in 2022. This is due to warehousing operations relying heavily on barcode technology for inventory management, order processing, and shipment tracking. The versatility and efficiency of 2D barcode readers make them an ideal solution for these applications. Additionally, the growth of e-commerce has increased the demand for warehousing services, driving demand for 2D barcode readers. The use of 2D barcode readers in warehousing operations also helps improve efficiency and reduce errors, ultimately leading to cost savings. Finally, advancements in technology, such as improved scanning accuracy and faster processing speeds, have further increased the value of 2D barcode readers in the warehousing segment.
Regional Segment Analysis of the 2D Barcode Reader Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
Asia-Pacific dominated the market with more than 41.5% revenue share in 2022.
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Based on region, Asia-Pacific held the largest market share for 2D barcode readers due to several factors. The region has a large and growing e-commerce industry, which drives demand for 2D barcode readers for inventory management and order processing. Additionally, the region has a large manufacturing sector, which uses 2D barcodes for product tracking and quality control. The increasing adoption of smartphones and mobile devices in the region has also contributed to the growth of the 2D barcode reader market. Finally, government initiatives aimed at improving supply chain efficiency and reducing counterfeit products have further boosted demand for 2D barcode readers in Asia-Pacific.
In February 2023, Azenta Inc. has recently acquired Ziath, a sample management specialist based in Cambridge and established in 2005. As a part of the laboratory automation workflow, Ziath provides a range of innovative 2D barcode readers that are essential to pharmaceutical, biotech, and academic customers worldwide.
The report offers the appropriate analysis of the key organizations/companies involved within the global 2D barcode reader market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Companies:
- Casio Computer Co., Ltd.
- Cognex Corp.
- Datalogic S.P.A.
- 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.
- SICK AG
- Unitech Electronics Co., Ltd.
- Wasp Barcode Technologies
- Zebex Industries Inc.
- Zebra Technologies Corp.
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture Capitalists
- Value-Added Resellers (VARs)
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global 2D barcode reader market based on the below-mentioned segments:
2D Barcode Reader Market, By Product Type
2D Barcode Reader Market, By Application
- Factory Automation
2D Barcode Reader Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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