Barcode Scanner Market Research Report 2023

Barcode Scanner Market Synopsis

The Global Barcode Scanner Market size was reasonably estimated to be approximately USD 7400 Million in 2023 and is poised to generate revenue over USD 14600 Million by the end of 2030, projecting a CAGR of around 9% from 2023 to 2030.

A Barcode scanner is a technical instrument used to scan the barcode on various items, giving information about that product, which can be decoded with the help of it. It is the easiest way of finding or decoding the inventory material.

• Nowadays there are various ways of using barcode scanners, such as payment biometrics, for detecting errors, biometrics, shopping & many more.
• It consists of a light source, a lens and a light sensor for translating optical impulses into electrical signals. Additionally, nearly all barcode readers contain decoder circuitry that can analyse the barcode's image data provided by the sensor and send the barcode's content to the scanner's output port.
• These scanners are of various types gun type, pen type, laser, mobile/camera based. Each type is having a different function. The gun/pen-type scanner is mostly used in shops, supermarkets & hypermarkets etc,
• For commercial purposes like manufacturing and inventory control, for these bigger scanners are needed. An error detection scanner is used for the defective or improper material to be rejected or thrown out from the production line.
• In big cities at metro/train stations the barcode scanner is used to get people to enter on station. Mobile scanners are used to do payments, these scanners are scanned by the mobile camera by which money can be transferred to the receiver’s account.

Top Key Players Involved Are:

"Zebra Technologies Corp. (US), Pegasus (Dubai), Argox Information Co (US), Shenzhen MinDe Electronics Technology Ltd (China), Opticon Sensors Europe B.V. (US), TV Electronics (India), Retail Solution and Technologies. (India), Posiflex Technology Inc (China), Wasp Barcode Technologies (UK), OMRON Corporation (Japan), DENSO WAVE INCORPORATED (Japan), Honeywell International Inc. (US), Datalogic S.p.A. (Italy), CipherLab Co., Ltd. (Taiwan), Adesso Inc. (Germany), Unitech Electronics Co., LTD., (Taiwan), Cognex Corporation (US), Bluebird Inc. (US), Newland Auto-ID Tech. (China), CodeCorp (US)"

Barcode Scanner Market Trend Analysis

Reducing Human Error

• In the warehousing industry the errors done by humans can be very costly for them. That’s why many warehouses & manufacturing industries are using barcode scanners. A Barcode scanner is the best substitute to human-based work. If the human is doing mistakes while feeding the data in the system then it will impact all the other activities. Barcodes, on the other hand, significantly reduce the possibility of human error to the point of nearly eliminating it.
• Barcode scans are fast, reliable, and less time-consuming than manual data entry. When barcodes are read by scanners, their graphics are quickly and accurately translated to a display in a software application on a computer or a handheld device without the errors often associated with manual data entry.
• Employees using barcode systems also work much more quickly than employees who rely on manual data entry. When implemented correctly, barcode scanning systems help reduce medication errors in a variety of healthcare centres.

In conclusion, the use of barcode scanners has greatly reduced human error and improve efficiency in various industries.

Increasing Demand in Healthcare.

• The barcode wristbands are created for the patients at the time of their admission with their specific information, which is continuously updated based on the patient's needs. All the patient's records like medical reports, medication and specimen samples are tagged with barcode labels
• The barcode technology also makes sure of the treatment administered to the patient, so that the correct treatment should be given and continued to the right patient. This ultimately reduces errors and ensures patient safety.
• Barcode technology helps practitioners and doctors to see all the previous notes along with the medical information attached to the unique barcode label linked to each patient.
• As advanced technology is being practised in the healthcare industry, the use of electronic medical appliances and records, and barcode solutions have almost eliminated manual data collection. In conclusion, the demand for barcode scanners in healthcare is increasing rapidly, as the technology is proving to be a valuable tool for improving patient safety and reducing errors.

Segmentation Analysis Of Barcode Scanner Market

Market segmentation of barcode scanner is covered by type & application. By type, the mobile segment is expected to dominate the market over the forecast period.

• A mobile barcode scanner is a type of barcode scanner that is designed to work with mobile devices such as smartphones and tablets. Instead of using a dedicated scanner, mobile barcode scanning solutions use the built-in camera of the mobile device to scan barcodes.
• These solutions can be in the form of mobile apps that can be downloaded and installed on a mobile device, or they can be integrated into existing mobile applications.
• Mobile barcode scanning solutions offer several advantages over traditional dedicated scanners. They are more affordable, as they eliminate the need for purchasing and maintaining additional hardware. They are also more convenient and versatile, as they can be used anywhere and at any time, making them ideal for field and remote operations.
• Mobile barcode scanners can be used in a wide range of applications, from retail and logistics to healthcare and transportation. They are particularly useful in industries where mobility and flexibility are essential, such as warehousing and inventory management, where workers can use mobile devices to scan and track items on the go.
• To use a mobile barcode scanner, the user simply needs to open the mobile app, point the device camera at the barcode, and scan it. The scanned data is then processed, and the information is sent to the application or system that needs it. Mobile barcode scanners can be integrated with various systems and applications, such as inventory management systems, order processing systems, and asset tracking systems, among others.

Regional Analysis Of Barcode Scanner Market

Asia Pacific is Expected to Dominate the Market Over the Forecast Period.

• The barcode scanner market is expected to grow in this region because of various reasons like increasing the manufacturing base of the region, raising adaptation of automation, favourable initiatives by the government & a technological step forward. Owing to the AAPC countries' accelerating industrialization, this area is expected to have upbeat expansion in the following years.
• The Asia-Pacific region has a large and growing manufacturing base, with countries such as China, Japan, and South Korea being major manufacturing hubs. The manufacturing industry has a significant need for barcode scanners to manage inventory, track shipments, and automate various processes.
• The adaptation of automation is increasing rapidly in the Asia-Pacific region, driven by factors such as rising labour costs and the need for greater efficiency and productivity. Automated solutions such as barcode scanners are being increasingly used in various industries such as retail, healthcare, and logistics.
• Several countries in the Asia-Pacific region, such as China and India, have implemented favourable government initiatives to encourage the adoption of automation and digitization. These initiatives have led to increased investment in technologies such as barcode scanners, further driving the growth of the market.
• Asia-Pacific region is home to some of the leading technology companies in the world, such as Samsung and Huawei. These companies are investing heavily in developing advanced barcode scanning technologies, which are driving the growth of the market in the region.

                                                                                                                                                                                                   Source: Statista

Covid-19 Impact Analysis on Barcode Scanner Market

• The retail sector was hit hard by the pandemic, with many stores closing due to lockdowns and reduced foot traffic. As a result, there was a decline in demand for barcode scanners in this sector.
• The manufacturing sector experienced disruptions in supply chains and reduced demand for goods during the pandemic, which resulted in a decline in demand for barcode scanners.
• However, with the gradual reopening of businesses and the increasing adoption of technology, the barcode scanner market is expected to recover in the coming years.

Top Key Players Covered in Barcode Scanner Market

• Zebra Technologies Corp. (US)
• Pegasus (Dubai)
• Argox Information Co (US)
• Shenzhen MinDe Electronics Technology Ltd (China)
• Opticon Sensors Europe B.V. (US)
• TV Electronics (India)
• Retail Solutions and Technologies. (India)
• Posiflex Technology Inc (China)
• Wasp Barcode Technologies (UK)
• OMRON Corporation (Japan)
• DENSO WAVE INCORPORATED (Japan)
• Honeywell International Inc. (US)
• Datalogic S.p.A. (Italy)
• CipherLab Co., Ltd. (Taiwan)
• Adesso Inc. (Germany)
• Unitech Electronics Co., LTD., (Taiwan)
• Cognex Corporation (US)
• Bluebird Inc. (US)
• Newland Auto-ID Tech. (China)
• CodeCorp (US)

Key Industry Developments in The Barcode Scanner Market

In November 2022, Omron Announces PPD Automation as a Certified Systems Integrator Partner Industry-leading automation solutions provider Omron Automation Americas welcomes new partner PPD Automation, which has been expanding its robotics solutions portfolio to incorporate Omron collaborative and mobile robot expertise.

In April 2023, Honeywell Acquired Compressor Controls Corporation, Driving The Energy Transition Through Leading its Automation And Controls Portfolio. The acquisition will be integrated into Honeywell's Process Solutions business and will strengthen Honeywell's leadership in industrial control, automation and process solutions, enabling customers to accelerate their energy transition.