Global 2D Barcode Reader Market By Product Type (Handheld and Fixed), By Application (Warehousing, Logistics, E-commerce, Factory Automation and Others), By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027
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Get in-depth analysis of the COVID-19 impact on the 2D Barcode Reader Market
Market Report Description
The Global 2D Barcode Reader Market size is expected to reach $10.7 billion by 2027, rising at a market growth of 6.6% CAGR during the forecast period. A two-dimensional (2D) barcode reader refers to a device which is used to capture and read the information that is encoded in the two-dimensional (2D) barcodes. It can either be a stationary or a hand-held electronic device.
With the increasing penetration of the internet, digital shopping is becoming more convenient and gained popularity among consumers worldwide. The introduction of wireless technology has strengthened the shift to digital shopping. The barcode scanners are also integrated with high-speed, wireless networks that can possibly help in reducing long waiting times in retail stores. Thus, combining bar code scanners with automated billing systems is making the shopping process transparent, faster, and efficient and at the same time, it enhances the satisfaction of the consumers. These abovementioned factors are encouraging businesses to opt 2D barcode-based systems which are driving the growth of the market.
The market for 2D barcode readers is expected to grow in the forecast period. It is due to the growing use of 2D barcodes across numerous industries, the 2D barcode can access more information like price, image, quantity, or web addresses. The 2D barcode reader is able to scan both 1D and 2D barcodes. 2D barcode readers are helping those businesses which want to make a substantial impact on their customers. Since the ability of the 2D barcode readers to scan accurately and quickly is high, it speeds up the various transaction processes like billing & other operations and thus, improves customer experiences. A 2D barcode reader has the capacity to read barcodes from both directions. It can read on-screen or printed, upside down, and even sideways.
COVID-19 Impact Analysis
The sudden outbreak of the COVID-19 pandemic adversely affected various industries in different ways. The sensor, control, and automation industry of several countries have been negatively affected by this pandemic across the world. The capital investments in the automation sector are lethargic during the pandemic and expected to put on hold in the coming few months and years. Though, the current halt in industrial manufacturing and production is expected to be a wake-up call for the manufacturing sector to minimize its dependency on human labor. The advantages of robotics and automation are expected to be helpful in greater adoption in the post-pandemic period. Post pandemic, the IoT, industrial automation, and digitalization will be increasingly more relevant for Tier 1 manufacturers.
Product Type Outlook
Based on Product Type, the market is segmented into Handheld and Fixed. The competitive cost of barcode readers varies across different regions. There are numerous handheld and fixed barcode readers that are available in different price ranges in the market. So, buyers have the advantage to compare several options such as specific application of the barcode and can try for a better bargain on price before they decide what to buy. For example, buyers from a retail environment may prefer to have an affordable handheld reader in order to ensure accessibility and flexibility. But, a buyer from an industrial environment may choose rugged scanners so that they can withstand harsh conditions and their performance is not compromised.
Based on Application, the market is segmented into Warehousing, Logistics, E-commerce, Factory Automation and Others. The increasing popularity of e-commerce and retail distribution is anticipated to boost the adoption of barcode readers, as this device helps in improving business logistics. Increasing e-commerce and trade resulted in the necessity for logistics and transportation companies who require to streamline and coordinate the resources and dispatched products and they need to keep an accurate track of the resources across the value chain. There are many benefits of 2D bar scanner including increased efficiency, attaining optimal read rates, and highly accurate scanning are expected to boost the demand for barcode readers in a harsh logistics environment.
|Market size value in 2020||USD 6.5 Billion|
|Market size forecast in 2027||USD 10.7 Billion|
|Historical Period||2017 to 2019|
|Forecast Period||2021 to 2027|
|Revenue Growth Rate||CAGR of 6.6% from 2021 to 2027|
|Number of Pages||171|
|Number of Tables||270|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Product Type, Application, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The Asia Pacific market dominated the Global 2D Barcode Reader Market by Region 2020. The Europe market is showcasing prominent growth during the forecast period. Additionally, The North America market would exhibit a CAGR of 6.4% during (2021 - 2027).
Free Valuable Insights: Global 2D Barcode Reader Market size to reach USD 10.7 Billion by 2027
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Honeywell International, Inc., Omron Corporation, Sick AG, Zebra Technologies Corporation, Datalogic S.p.A. (Hydra S.p.A.), Cognex Corporation, Casio Computer Co., Ltd., Denso Corporation, Juniper Networks, Inc., and General Data Company, Inc.
Recent Strategies Deployed in 2D Barcode Reader Market
- Apr-2021: Sick launched its first vision camera. This camera has a pre-installed Deep Learning app onboard to make it easy to develop custom quality inspections of complicated or irregular-shaped goods, packaging & assemblies, specifically the place where they have earlier defied automation utilizing traditional systems.
- Dec-2020:?Honeywell unveiled the latest N4680 Decoded 2D scan engine series. The compact design, snappiness and global shutter with a high motion tolerance makes it appropriate for next-generation medical diagnostic gadgets, mobile payments, handheld scanners, electronic appliances, kiosks, and vending machines.
- Nov-2020: Datalogic unveiled the new HandScanner, the smallest and lightest non-intrusive hands-free scanner. This scanner is designed to simplify workers’ daily operations. It enables workers to utilize both hands to pick quicker a good or package and increase their productivity. The ergonomic design of the HandScanner provides a higher 1D and 2D barcodes scanning precision, quicker scanning tasks, and drastic errors reductions.
- Oct-2020: Honeywell introduced the new Extended FlexRange EX30 2D Scan Engine. This launch provides the most flexible solution for OEM applications whether scanned from near or far. This latest EX30 has a slim form factor, is simple to combine and is finely positioned for the next generation of handheld scanners, mobile devices, kiosks or medical diagnostic devices.
- Apr-2020: Datalogic released a PDA that empowers customers in field services, retail, logistic environments, and healthcare. This device integrates the best features of a smartphone with the high standards of enterprise-level devices. The Memor 20 PDA provides a huge 5.7’’ full HD touch screen & a dual IP65 & IP67 protection in a smartphone form factor design.
- Apr-2020: Cognex Corporation introduced its DataMan 475 Inline Barcode Verifier (475V). This launch provides contract-compliant assurance as per the International Organization for Standardization (ISO), this high-speed system offers the most reliable code verification & quality reporting for 1D, 2D, and direct part mark (DPM) codes.
- Oct-2019: Cognex Corporation took over SUALAB, a leading Korean-based developer of vision software. This acquisition aimed to add SUALAB’s engineering team and intellectual property to improve Cognex’s existing deep learning offerings.
- Aug-2019: Microscan unveiled the LVS-9585 Handheld Portable Barcode Verifier. It offers verification of the printed labels and direct part marks (DPM). The LVS-9585 verifies the quality, readability, and data integrity of 1D & 2D printed labels and direct part marks to globally acceptable standards.
- Apr-2019: Sick introduced a compact image-based code reader, Lector621, for better & reliable detection of 1D, stacked codes, 2D, and plain text. The high-performance DPM is a direct part marking decoder that can read laser or dot-peened codes excellently even in the case of contamination, less contrast levels, or bad code quality.
- Oct-2018: Honeywell released two new 2D barcode scan engines. These engines help to enhance the data capture performance of compact & lightweight mobile devices like tablets, handheld computers, and wearable scanners. The N670X and N3601 series engines are the most compact in their class and freeing up room to combine other technology and also improve total productivity.
- Feb-2018: Zebra Technologies Corporation launched TC25, a new rugged smartphone especially developed for small- and medium-sized businesses (SMBs). This TC25 empowers field mobility workers to scan barcodes on parts, operate routes, and finish invoices on the spot.
- Aug-2017: Denso launched the latest AT31Q handheld 1-D and 2-D barcode scanner that features both close-range and also distance scanning. When utilized at close range, the operator-friendly device enabled customers to all together scan and view codes, accelerating work and improving the accuracy.
- Apr-2017: Cognex Corporation took acquired ViDi Systems SA, a maker of deep learning software for industrial machine vision. This acquisition aimed to bring expertise to Cognex to widen the scope of applications, which could be addressed at a top-class level with Cognex vision.
- Jan-2017: Zebra released the DS8100 and DS2200 series handheld 2D scanners. These latest 2D scanners help retailers to instantly and simply scan virtually any barcode on coupons, merchandise, and loyalty cards to offer a quicker, more customized checkout experience.
Scope of the Study
Market Segments Covered in the Report:
By Product Type
- Factory Automation
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Honeywell International, Inc.
- Omron Corporation
- Sick AG
- Zebra Technologies Corporation
- Datalogic S.p.A. (Hydra S.p.A.)
- Cognex Corporation
- Casio Computer Co., Ltd.
- Denso Corporation
- Juniper Networks, Inc.
- General Data Company, Inc.
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2D Barcode Reader Market Related Reports:
How valuable will the 2D barcode reader market be in the future?
The global 2D barcode reader market size is expected to reach $10.7 billion by 2027.
What are the key driving factors and challenges in the 2D barcode reader market?
Rising usage of barcode scanners in the healthcare sector are driving the market in coming years, however, High capital investments of the barcode have limited the growth of the market.
What are the major top companies in the competitive landscape?
Honeywell International, Inc., Omron Corporation, Sick AG, Zebra Technologies Corporation, Datalogic S.p.A. (Hydra S.p.A.), Cognex Corporation, Casio Computer Co., Ltd., Denso Corporation, Juniper Networks, Inc., and General Data Company, Inc.
Has COVID-19 impacted the 2D barcode reader market?
Yes, The advantages of robotics and automation are expected to be helpful in greater adoption in the post-pandemic period. Post pandemic, the IoT, industrial automation, and digitalization will be increasingly more relevant for Tier 1 manufacturers.
Which segment shows a high revenue share of the 2D barcode reader market in 2020?
The handheld segment procured the highest revenue share in the 2D barcode reader market in 2020.
Which region shows the highest market share of the 2D barcode reader market in 2020?
The Asia Pacific garnered the highest market share in 2020. Factors like increasing e-commerce and retail industry are contributing to the market growth in this region.