The global barcode readers market is projected to report a healthy growth rate between 2020 and 2027, states a new report added to the repository of Report Ocean. The research report is titled as “Global Barcode Readers Market Size study, By Type (Portable/ handheld and Fixed position), By Application (Healthcare, Manufacturing and Industry, Transportation and Logistics, Retail and Others) and Regional Forecasts 2020-2027.”
According to the research study, the global market for barcode readers is registering a significant growth, thanks to the increasing uptake of barcode technology in the retail and the manufacturing sectors. The popularity of barcode technology as the best approach for recording product information without any major manual effort is aiding its adoption in various industries. The barcode readers market is also supported by the rising implementation of barcode readers across a number of industry verticals and the high level of uptake of automatic data capturing machines in the retail industry.
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Over the coming years, the increasing application of barcodes in supply chain tracking will continue the positive growth trajectory of this market. In addition to this, the advent of industry 4.0 is likely to create lucrative growth opportunities for the global barcode readers market. However, the high cost incurred in the development cost of barcode may limit the growth of this market in the near future, states the research report.
Asia Pacific to Remain the Global Leader
Over the last few years, the leading regional market for barcode readers has been Asia Pacific. Thanks to the gradual rise in manufacturing activities are stringent government rules regarding the usage of automated warehouses, the demand for barcode readers has amplified in this region. The shipping and logistics industries in this region have also begun to implement barcode system, which is expected to boost the Asia Pacific barcode readers market in the near future.
The ongoing digitization of the retail market, especially in India and China, will create lucrative opportunities for barcode reader manufacturers in the years to come.
Other regions, such as North America, Latin America, Europe, and the Rest of the world are also expected to report rise in their respective barcode readers markets over the forecast period. The emergence of digital technologies and continuous changes in shopping preferences of consumers is likely to support these regional markets over the next few years.
Impact of COVID 19 on Global Barcode Readers Market
With the entire world fighting with the Coronavirus pandemic, the global barcode readers market has been hit to some extent. The economic downfall has impacted the frequency of new product launches. The contraction in the retail sector due to this pandemic has also reflected badly on this market.
- Portable barcode readers have captured more than half of the overall market.
- The retail industry has surfaced as the most prominent application area of barcodes readers.
- Transportation and logistics are also gaining impetus as one of the key application area of barcode readers.
- Asia Pacific is continuing to lead the barcode readers market across the world.
The Global Barcode Readers Market is classified as follows:
- Fixed Position
- Transportation and Logistics
- North America
- Asia Pacific
- Latin America
- Rest of the World
Companies Mentioned in the Report
- Honeywell International Inc.
- DATALOGIC SpA
- System ID Barcode Solutions
- Newland EMEA
- Cognex Corporation
- Denso Wave Incorporated
- OMRON Corporation
- Zebex Industries Inc
- TouchStar Technologies
- Opticon Sensors Europe B.V
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