2D Barcode Reader Market Company Profiles, Financial Performance and Product Benchmarking

San Francisco, Calif., USA, Nov 21, 2022 — /EPR Network/ —

2D Barcode Reader Industry Overview

The global 2D barcode reader market size is expected to reach USD 11.06 billion by 2028, registering a CAGR of 6.7% from 2021 to 2028, according to a study conducted by Grand View Research, Inc. The growing preference for online shopping and the subsequent growth in e-commerce and logistics is expected to drive the growth of the market. Businesses in several industries and industry verticals, including retail and manufacturing, are aggressively using barcodes and allied systems to precisely audit the inventory and track individual products or product batches remotely in a large facility. Thus, a barcode scanner becomes a core component for decoding and interpreting the data stored by the barcode. Barcode scanners ensure robust inventory control management and help in improving the accuracy, speed, and efficiency of tracking goods.

The growing preference for online shopping has prompted e-commerce and logistics companies to establish warehouses and distribution centers. Moreover, these companies are aggressively looking to expand the storage space in line with the growing demand for products ordered online. Businesses have also increased their investments to maintain lean operations and enhance their storage facilities. In addition to expanding floor spaces, investments are also being made in automation and worker-augmented solutions, which have become a priority for decision-makers. Decision-makers have realized that 2D barcode readers can be a superior technology to help in automating inventory maintenance and data collection and have hence taken an incremental approach to modernize warehouse operations.

2D Barcode Reader Market Segmentation

Grand View Research has segmented the global 2D barcode reader market based on product type, application, and region:

Based on the Product Type Insights, the market is segmented into Handheld and Fixed

• The handheld segment dominated the 2D barcode reader market in 2020 and accounted for more than 60% of the revenue share.
• The segment is projected to register a CAGR of over 5.0% over the forecast period owing to the numerous benefits, such as mobility and operational flexibility, handheld barcode readers can offer as compared to the fixed barcode readers.

Based on the Application Insights, the market is segmented into Warehousing, Logistics, E-commerce, and Factory Automation

• The warehousing segment dominated the market in 2020 and accounted for more than 35.0% of the global revenue. The segment is expected to continue dominating the market over the forecast period.
• The logistics segment is anticipated to exhibit the highest CAGR of 6% over the forecast period.
• The growth of e-commerce and retail distribution is expected to drive the adoption of barcode readers for improving business logistics.

2D Barcode Reader Regional Outlook

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The market is a highly dynamic market characterized by the presence of several prominent market players. The players are focused on improving their market presence by pursuing various strategic initiatives, such as new product developments, strategic collaborations, joint ventures, and partnerships; and mergers and acquisitions. These strategies are allowing the market players to defend their respective positions in the market.

Some prominent players in the global 2D Barcode Reader market include:

• DENSO WAVE INCORPORATED
• CASIO COMPUTER CO., LTD.
• Cognex Corporation
• Datalogic S.p.A.
• Honeywell International, Inc.
• Juniper Systems Inc.
• Zebra Technologies Corp.
• KEYENCE CORPORATION

Order a free sample PDF of the 2D Barcode Reader Market Intelligence Study, published by Grand View Research.