Barcode Scanner Market

Barcode Scanner Market Outlook- 2030

A barcode scanner, also known as a point-of-sale (POS) scanner or a price scanner, is a device that captures and reads data from barcodes. A light source, a lens, and a light sensor that converts optical impulses into electrical ones make up the scanner. A barcode scanner measures the quantity of light reflected back after sending a beam of light across the barcode. The light is reflected less by the black bars on the barcode than by the white spaces between them. The light energy is eventually transformed into electrical energy by the scanner, which is ultimately transformed into data by the decoder and transferred to a computer.

Barcode scanners are being used by retailers all over the world to simplify the tracking of supply and commodities. Barcode scanners help in the processing of data such as product count, manufacturing date, delivery date to the merchant, and product cost, that are written in the form of a barcode on the product's packaging. All these factors are assisting the growth of barcode scanner industry globally.

The global barcode scanner market is segmented on the basis of type, technology, application, components, industry vertical and region. Based on type, the market is divided into portable/handheld and fixed position. The portable segment is further divided into rugged scanners, PDA scanners, automatic readers, and others. And, the fixed position segment is further divided into stationary scanners, presentation scanners, automatic readers, and others. In terms of technology, the market is categorized into pen type reader, smartphone-based scanner, laser scanner, camera-based reader, CCD (charge coupled device) readers, omni directional barcode scanner, and others. On the basis of application, the market is divided into inventory control & management, error optimization, biometrics, and others. On the basis of components, the market is divided into Services and Solutions. On the basis of industry vertical the market is divided into healthcare, retail, manufacturing, commercial aviation, logistics & warehouse, defense, and others.  Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global barcode scanner industry include Honeywell international Inc., Cognex Corporation, SATO Holdings Corporation, Datalogic S.P.A., Zebra Technologies Corporation, Scandit AG, Toshiba, TEC Corporation, Scandit AG, Unitech. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global barcode scanner market.

COVID-19 Impact analysis

COVID-19 has three major effects on the global economy: directly impacting production &demand, causing supply chain &market disruption, and having a financial impact on businesses &financial markets. The outbreak of COVID-19 has had a wide range of consequences, including flight cancelations, travel bans, quarantines, restaurant chains closing, as well as all indoor events being restricted where a state of emergency has been declared, resulting in a massive slowing of the barcode scanner market growth volatility, growth in public panic, and uncertainty about the future.

Top Impacting Factors

The barcode scanner market is expected to develop significantly due to the introduction of digital technologies for scanning and analyzing inventories of data, especially in the retail and warehousing sectors. The barcode scanner’s cutting-edge features and technical benefits are some of the factors that make it popular in these sectors. Furthermore, the use of barcode technology is expected to make inventory tracking and supply easier for retail and warehouse businesses. All these factors are expected to offer lucrative barcode market opportunity in the future.

New Product Launches to Flourish the Market

MARK Basic standard range (SR) is a new wearable scanner launched in June 2021 by ProGlove, a Germany-based leading manufacturer of wearable barcode scanners. It serves to the demands of businesses with an emphasis on short-range scanning, such as workflow documentation in outgoing activities like packing, retail inventory, and assembly operations. In September 2020, Omron corporation launched V410-H portable barcode reader series, which is a versatile, powerful, and simple-to-use solution for a variety of applications. It provides a solution for traceability across industrial manufacturing and beyond, with algorithms that easily capture tough codes such as direct part markings (DPMs) and ultra-compact symbols.

Surge in Usage in Healthcare Sector and Manufacturing Sector

Barcode scanners are widely used in the healthcare industry to provide real-time information on medical supplies, personnel, and assets. As a result, the growth in healthcare business is expected to drive demand for barcode scanner market all across the world. Apart from that, rapid response (QR) codes are gaining popularity throughout the world since they can be scanned quickly with mobile phones and tablets.

Smartphone sales are likely to increase, wireless communication technologies will proliferate, and the e-commerce sector will expand in the future years, all of which are projected to have a favorable impact on the industry. In the manufacturing and retail industries, barcode scanners are becoming highly popular such as Costco's, Carrefour's, and IKEA's. It has evolved into one of the most effective methods for gathering product data.

Key Benefits of the Report

• This study presents the analytical depiction of the barcode scanner market forecast along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the barcode scanner market trends.
• The current market is quantitatively analyzed to highlight the growth scenario of the barcode scanner market forecast.
• Porter’s five forces analysis illustrates the potency of buyers and suppliers in the barcode scanner market share.
• The report provides a detailed barcode scanner market analysis based on competitive intensity and how the competition will take shape in coming years

Questions Answered in the Barcode Scanner Market Research Report

• Which are the leading players active in the barcode scanner market size?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future would help in taking further strategic steps?

 Barcode Scanner Market Report Highlights