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2D Barcode Reader Market Overview:
The 2D barcode scanner market was estimated to be valued at USD 7.5 billion in 2022. The 2D barcode scanner market is expected to grow from USD 8.2 billion in 2023 to USD 16.0 billion by 2032, at a CAGR of 8.80% during the forecast period of 2022. (2023-2032). Global expansion of e-commerce, changing trends in the warehousing and logistics sector, and increasing use of 2D barcodes in various industries are the major driving factors for the market growth.
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Key Players:
Key Companies in the 2D Barcode Reader market include,
To support the rapid expansion of e-commerce, maintaining sales data, ensuring accurate time and real-time tracking of products in supply chain networks is extremely important. Real-time product tracking has become an essential requirement for online retailers. 2D barcode scanners currently play a crucial role in sales data and inventory management. Barcodes can help minimize data entry errors that can be costly and difficult to correct.
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Barcode scanning can improve accuracy and productivity by reducing the potential for human error. Compared to manual access, this has proven to be a faster and more efficient way to collect data. Barcodes enable faster scanning options, faster checkout in retail stores, faster product tracking and processing in logistics, and faster patient processing. Barcodes are used to track goods as they move through the supply chain, giving companies greater flexibility and control. This can improve supply chain efficiency by reducing the possibility of product theft or loss.
Market Segmentation:
By product type, the 2D barcode scanner market segmentation includes portable and stationary devices. The share of revenue from the wearable segment was the largest in 2022.
The 2D barcode scanner market segmentation based on application includes warehousing, logistics, e-commerce and factory automation. In 2022, the storage segment dominated the 2D barcode scanners market.
The study provides a regional market overview of North America, Europe, Asia Pacific and Rest of the World. In 2022, this market was dominated by North America 2D barcode scanners market (45.80%). Thanks to the growing popularity of social media platforms and the development of e-commerce, customers can now purchase and return items at their most convenient time, especially in developed countries such as the United States, the 2D barcode scanner market. The United States was the largest. The Canadian 2D barcode scanner market was the fastest growing market in the North American region. The Asia-Pacific 2D Barcode Scanners market is expected to witness significant growth during the period 2023-2032. Expansion of e-commerce, logistics and warehousing sector in the Asia-Pacific regional market is the reason for the increase in demand for 2D barcode scanners.
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The introduction of 5G, increased government activity to automate and digitize industries to Industry 4.0, and the expansion of digitization will increase the demand for 2D barcode scanners. Moreover, China’s 2D barcode scanner market held the largest market share and India’s 2D barcode scanner market was the fastest growing market in Asia Pacific.
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