Barcode Reader Market Expected to Reach $13.3 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Barcode Reader Market," The barcode reader market size was valued at $7.4 billion in 2022, and is estimated to reach $13.3 billion by 2032, growing at a CAGR of 6.3% from 2023 to 2032.

The barcode reader market demand is experiencing a transition from traditional 1D barcode readers to 2D barcode readers. This shift is driven by the advantages of 2D barcodes, such as increased data storage capacity and support for advanced applications like mobile payments, ticketing, and inventory management.

With the widespread adoption of smartphones and tablets, barcode technology is being integrated into mobile devices. This integration allows businesses and consumers to leverage the convenience of mobile barcode scanning for various applications, including product information lookup, mobile payments, and loyalty programs.

Barcode readers, also known as barcode scanners, are usually connected to computers or mobile devices via USB, Bluetooth, or other interface options. In most cases, barcode scanners do not require specific drivers to function properly. They are designed to act as a Human Interface Device (HID), which means they can emulate a keyboard and send scanned data as keystrokes directly to the computer.

Advancements in technology have played a crucial role in propelling the barcode reader industry forward. The development of more compact and portable barcode readers has made them more accessible to a wider range of users. Additionally, the integration of wireless connectivity options like Bluetooth and Wi-Fi enables seamless connectivity with various devices, such as computers, smartphones, and tablets, further expanding their usability. Furthermore, the integration of advanced scanning technologies, such as 2D imaging, enables the reading of complex barcodes and opens up opportunities for applications beyond traditional barcode scanning, such as scanning QR codes and mobile ticketing.

The rapid expansion of the e-commerce industry has created a surge in demand for barcode readers. These devices play a crucial role in streamlining warehouse operations, improving order accuracy, and enhancing overall supply chain efficiency in online retail. Barcode scanning enables quick and accurate inventory management, order tracking, and fulfillment, supporting the seamless flow of goods in the e-commerce ecosystem. Additionally, handheld barcode readers enable real-time data collection, allowing businesses to have up-to-date information on inventory levels, product availability, and transaction details. This timely and accurate data helps in optimizing inventory control, reducing stockouts or overstock situations, and improving supply chain management.

The increasing need for efficient and accurate data capture in various industries is a significant driving factor. Barcode readers enable quick and reliable scanning of barcodes, providing businesses with real-time access to essential product information, inventory management, and supply chain visibility. The ability to automate data collection processes improves operational efficiency, reduces errors, and enhances productivity, making barcode readers an indispensable tool for businesses across sectors such as retail, healthcare, logistics, and manufacturing.

These key trends in the barcode reader market analysis indicate a growing need for advanced and mobile-enabled barcode scanning solutions. As industries continue to digitize and automate their operations, barcode readers will play a pivotal role in enabling efficient data capture, enhancing customer experiences, and optimizing supply chain processes.

KEY FINDINGS OF THE STUDY

• The barcode reader market growth is expected to continue growing in the coming years, driven by increasing demand for barcode reader products across various industries, technological advancements, and a growing trend towards sustainability.
• The growing trend towards sustainability is driving the adoption of eco-friendly materials in the production of barcode reader products.
• Asia Pacific is the largest market for barcode reader, driven by the increasing demand for qr code scanner products in industries such as packaging, building materials, and automotive. The region is also home to some of the largest manufacturers of scanners.
• The barcode reader market trends is highly competitive, with several major players operating globally. To remain competitive, companies are focusing on product innovation, strategic partnerships, and expanding their distribution networks.

The key barcode reader leaders profiled in the report include Zebra Technologies Corp., Honeywell International Inc., Cognex Corporation, SATO Holdings Corporation, Motorola Solutions, Inc., Wasp Barcode Technologies, LLC, Denso Corporation, Datalogic S.p.A., Opticon, and Unitech Electronics Co., LTD.  These key players adopt several strategies such as new product launch and development, acquisition, partnership and collaboration, and business expansion to increase the barcode reader market share during the forecast period.