The 2D Barcode Reader by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).
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In accordance with The Business Research Company’s analysis of the 2D Barcode Reader sector, the market has experienced substantial growth in recent years, projecting an ascent from $6.85 billion in 2024 to $7.33 billion in 2024, reflecting a robust compound annual growth rate (CAGR) of 7.0%. This growth trajectory in the historical period can be primarily ascribed to the burgeoning economic activities in emerging markets, concurrent with the expansion of the global population, and the burgeoning utilization of barcode scanners, especially within the healthcare sector.
Forecasts anticipate a robust expansion in the 2D barcode reader market, surging to $9.76 billion by 2028, marking a notable CAGR of 7.4%. This surge is underpinned by several factors, including the global population growth and urbanization, the rapid proliferation of e-commerce platforms, heightened expenditures in leisure activities, escalating retail market penetration, increased internet accessibility, smartphone proliferation, and a growing preference for contactless delivery solutions. Key trends in the projected period include the adoption of high-speed, omnidirectional readers, the introduction of next-generation barcode scanners, a concentrated focus on technologically advanced reader systems, harnessing AI-empowered reader systems, and the development of barcode scanners tailored for web applications.
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.
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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
Top 5 Major Players:
- Honeywell International, Inc.
- Omron Corporation
- Keyence Corporation
- Cognex Corporation
- Datalogic S.p.A
A pivotal trend emerging in the 2D barcode reader market is the development of technologically sophisticated reader systems. Diverse advancements in barcode reader technologies, such as QR codes, Data Matrix, PDF417, Aztech 2D, machine vision, digital image scanning, RFID, and decoding technologies, are witnessing widespread adoption. Notably, companies operating in this space are increasingly integrating RFID technology, exemplified by Denso Wave’s launch of the SP1 scanner featuring an autopilot function in December 2021. This innovation enhances the efficiency of RFID scanners, doubling scanning speed and enhancing data management capabilities. Moreover, the popularity of RGID tags and Near Field Communication (NFC) technology further underscores the rising demand for 2D barcode scanners, setting the stage for continued market expansion and innovation.
The 2d barcode reader market report table of contents includes:
1. Executive Summary
2. 2D Barcode Reader Market Characteristics
3. 2D Barcode Reader Market Trends And Strategies
4. 2D Barcode Reader Market – Macro Economic Scenario
5. Global 2D Barcode Reader Market Size and Growth
……
32. Global 2D Barcode Reader Market Competitive Benchmarking
33. Global 2D Barcode Reader Market Competitive Dashboard
34. Key Mergers And Acquisitions In The 2D Barcode Reader Market
35. 2D Barcode Reader Market Future Outlook and Potential Analysis
36. 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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