Published Date: 14-Jun-2021
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According to a new report Global 2D Barcode Reader Market, published by KBV research, 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.
The handheld segment procured the highest revenue share in the 2D barcode reader market in 2020. The segment is expected to register a significant CAGR over the forecast years. It is due to the numerous benefits of handheld scanners including operational flexibility and mobility, as compared to the fixed barcode readers. These barcode readers are light in weight and compacts size. Thus, it increases the portability of the device while scanning goods and products that are difficult to hold. The design of a typical handheld reader is like a handgun and has a trigger button and a holding grip to activate the scanning operation.
The logistics segment is expected to grow at a significant CAGR over the forecast period. In the global trade competitiveness, it has become a prerequisite to timely deliver the products and having updated information about the current state of shipping schedules or stocks. The increasing volumes of online retailing along with a variety of product choices are being offered to consumers who prefer shopping from online stores. This is boosting the adoption of barcode scanning in logistics facilities.
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. Furthermore, the deployment of automated warehouses has also prompted the demand for 2D barcode readers as manufacturing activities continue to evolve. Thus, in recent years, there was an exponential increase in the deployment of these barcode readers in logistics activities, shipping activities, and warehousing activities. These devices help in seamless business operations management.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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