DUBAI, U.A.E, July 23, 2020 /PRNewswire/ -- The image based barcode reader market is anticipated to expand impressively from 2020-2030, concludes Future Market Insight in its recently published report.
Rapid Industry 4.0 penetration has led to the deployment of advanced technologies in the form of robotics, artificial intelligence and cloud-based computing across the manufacturing sector. This has made it possible for firms to streamline asset tracking and monitoring, for which the adoption of barcode readers has surged.
Heightened concerns about the spread of the novel coronavirus have prompted end-users to employ barcode readers as a way of ensuring contactless transactions between individuals. Retailers are exploiting this technology to analyze user data and expand their customer base through virtual platforms. Similarly, airports are using QR codes to filter visitors and enable contact tracing.
Based on these trends, adoption of image based barcode scanners is only expected to increase in the coming forecast period.
"Mushrooming online business activities will lay a red carpet for the image based barcode reader manufacturers to walk smoothly towards better revenue prospects," concludes an FMI analyst.
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Key Takeaways from FMI's Image Based Barcode Reader Report
- Retail and commercial sector shall capture 33% of the overall revenue share
- Global image based barcode reader market shall surge at a CAGR of 7% between 2020 and 2030
- North America is the market hegemon, capturing nearly 28% of the revenue share
- Smartphone based scanners are acquiring immense popularity due its high degree of convenience
- Image based barcode readers sales will surge by 2020-end, attributed to heightened ICT spending, valued at US$ 689 Bn
Image Based Barcode Reader Market- Key Trends
- Barcode readers mounted automated robots are becoming mainstream across the retail and commercial sectors
- Smartphones with sophisticated barcode readers such as Android 9 and Apple 13 are immensely catapulting revenue prospects
- 2D-based image barcode scanners are acquiring high traction owing to their ease of operability
- Intensive marketing campaigns by leading players is helping them carve a foothold within the landscape
- Holding capacities are expected to witness an uptick of nearly 2000 data characters, ranging from supply chain management figures to inventory stocks
Image Based Barcode Reader Market- Region-wise Analysis
- East Asia exhibits tremendous growth potential in the coming years, with China & Japan experiencing the maximum expansions
- Countries such as the United States have already attained maturity, being used for a hassle-free shopping experience
- South Asia shall expand 2.4x during the 2020-2030 forecast period
Image Based Barcode Reader Market- Competitive Landscape
The image based barcode reader vendors are capitalizing on the trend of surging QR-code popularity to acquire a competitive edge over others. Prominent companies such as L'Oréal, Nissan, Tesco, PayPal and Starbucks are all leverage QR-codes to enhance customer experiences.
Kaspersky, for instance, has launched its QR code reader and scanner which is compatible with Apple and Android phones. Its scanner prohibits any access to unsecure links, thus making at an extremely safe application. Similarly, Google Playstore and Apple Store provide the Bar-Code reader which allows copy pasting on the web and export on Google drive.
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Image Based Barcode Reader Market Taxonomy
- 1D Image/Code Scanning
- 2D Image/Code Scanning
- Portable/Handheld Scanners
- Rugged Scanners
- PDS Scanners
- Smart Phones
- Automatic Readers
- Cordless Scanners
- Fixed-Position Scanners
- Stationery Scanners
- Presentation Scanners
- Retail and Commercial
- General Manufacturing
- Logistics & Warehouse
- Commercial Aviation
- S Mounted Lens
- C Mounted Lens
- Autofocus/Liquid Based Lens
- PoE (Power over Ethernet)
- Rest of Latin America
- Rest of Europe
South Asia & Pacific
- Rest of South Asia & Pacific
- South Korea
Middle East & Africa
- Northern Africa
- South Africa
- Rest of MEA
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Know More about Image Based Barcode Reader Market
A new market research report published by Future Market Insights (FMI) on the global image based barcode reader market report provides extensive insights into the market demand trends and analysis of opportunities over the forecast period. The report analyzes the image based barcode reader market through seven different segments - imaging type, product type, end use, technology, connectivity, sales channel, and region. The image based barcode reader market report also offers in-depth assessment of pricing by different key market dynamics, life cycle analysis, and technologies that are being deployed in the manufacturing of image based barcode readers and product adoption across several end-use industries.
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