Overview and Scope
The 2D (two-dimensional) barcode is a graphical image that stores information horizontally and vertically. The 2D barcode reader is used to scan the pictures of both 1D and 2D barcodes. The 2D barcode reader, also known as an area imager, involves the optimization of images for contrast and then decoding them to extract information from the barcode. This increases the efficiency of the business by minimizing the time required to interpret the information about the products and services. 2D barcode readers are being used in various industries as they are accomplished at storing data related to products and services.
Sizing and Forecast
The 2d barcode reader market size has grown strongly in recent years. It will grow from $6.85 billion in 2023 to $7.33 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to strong economic growth in emerging markets, growth in world population and increasing use of barcode scanners in healthcare.
The 2d barcode reader market size is expected to see strong growth in the next few years. It will grow to $9.76 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to global population growth and urbanization, rapid growth in ecommerce, rising spend on leisure, increasing retail penetration, increasing internet penetration and smartphone usage and growing preference for contactless delivery solutions. Major trends in the forecast period include adopting high-speed, omnidirectional readers, introducing next generation of barcode scanners, focus on technologically advanced reader systems, leverage ai-empowered reader systems and develop barcode scanners for web.
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Segmentation & Regional Insights
The 2d barcode reader market covered in this report is segmented –
1) By Reader Type: Cord, Cordless
2) By Application: Warehousing, Logistics, E-Commerce, Factory Automation, Brick and Mortar
3) By End User: Retail, Hospitality, Transportation and logistics, Manufacturing, Healthcare, Others End Users
Asia-Pacific was the largest region in the 2D Barcode Reader market in 2023. The regions covered in the 2d barcode reader market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in demand in the e-commerce and logistics sectors is expected to propel the growth of the 2D barcode reader market over the coming years. The growing incidence of online shopping is considered one of the driving factors for the growth in the e-commerce and logistics sectors, leading to the deployment of more distribution centers and warehouses and driving the 2D barcode reader industry. The Indian market for e-commerce increased by 36% in 2020 and is expected to reach up to USD 111 billion by 2024, leading to the increasing growth rate of the 2D barcode reader market as well. Therefore, the growing e-commerce and logistics industries drive the 2D barcode reader market.
Key Industry Players
Major companies operating in the 2d barcode reader market report are Honeywell International, Inc., Omron Corporation, Keyence Corporation, Cognex Corporation, Datalogic S.p.A., Zebra Technologies Corp., Zebex Industries Inc., Sick AG, Denso Wave Incorporated, Opticon Inc, General Data Co, Unitech Electronics Co. Ltd., Wasp Barcode Technologies, Tencent, Alibaba, INSPIRY, SUNLUX IOT, MINDEO, Argox, CipherLab, Casio Computer Co. Ltd., Denso Corporation, JADAK – A Novanta Company, Juniper Systems Inc., Marson Technology Co. Ltd., Scandit, Sato Holdings Corporation, Jadak, Pooyeh International Networks, BlueStar
The 2d barcode reader market report table of contents includes:
- Executive Summary
- 2D Barcode Reader Market Characteristics
- 2D Barcode Reader Market Trends And Strategies
- 2D Barcode Reader Market – Macro Economic Scenario
- Global 2D Barcode Reader Market Size and Growth
- 2D Barcode Reader Market Segmentation
- 2D Barcode Reader Market Regional And Country Analysis
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- Key Mergers And Acquisitions In The 2D Barcode Reader Market
- 2D Barcode Reader Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global 2D Barcode Reader Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global 2D Barcode Reader Market, Segmentation By Reader Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global 2D Barcode Reader Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
……………
Table 75: Honeywell International Inc. Financial Performance
Table 76: Omron Corporation Financial Performance
Table 77: Keyence Corporation Financial Performance
Table 78: Cognex Corporation Financial Performance
Table 79: Datalogic S.p.A. Financial Performance
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