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.
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.
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 is expected to exhibit a CAGR of 6.4% during (2021 - 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.
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Chapter 3. Global 2D Barcode Reader Market by Application 3.1 Global Warehousing 2D Barcode Reader Market by Region 3.2 Global Logistics 2D Barcode Reader Market by Region 3.3 Global E-commerce 2D Barcode Reader Market by Region 3.4 Global Factory Automation 2D Barcode Reader Market by Region 3.5 Global Other Application 2D Barcode Reader Market by Region
Chapter 4. Global 2D Barcode Reader Market by Product Type 4.1 Global Handheld 2D Barcode Reader Market by Region 4.2 Global Fixed 2D Barcode Reader Market by Region
Chapter 5. Global 2D Barcode Reader Market by Region
Chapter 6. Company Profiles 6.1 Honeywell International, Inc. 6.1.1 Company Overview 6.1.2 Financial Analysis 6.1.3 Regional & Segmental Analysis 6.1.4 Research & Development Expenses 6.1.5 Recent strategies and developments: 126.96.36.199 Product Launches and Product Expansions: 6.1.6 SWOT Analysis 6.2 Omron Corporation 6.2.1 Company Overview 6.2.2 Financial Analysis 6.2.3 Segmental and Regional Analysis 6.2.4 Research & Development Expense 6.2.5 Recent strategies and developments: 188.8.131.52 Product Launches and Product Expansions: 6.2.6 SWOT Analysis 6.3 Sick AG 6.3.1 Company Overview 6.3.2 Financial Analysis 6.3.3 Segmental and Regional Analysis 6.3.4 Research & Development Expense 6.3.5 Recent strategies and developments: 184.108.40.206 Product Launches and Product Expansions: 6.3.6 SWOT Analysis 6.4 Zebra Technologies Corporation 6.4.1 Company Overview 6.4.2 Financial Analysis 6.4.3 Regional & Segmental Analysis 6.4.4 Research & Development Expenses 6.4.5 Recent strategies and developments: 220.127.116.11 Product Launches and Product Expansions: 6.5 Datalogic S.p.A. (Hydra S.p.A.) 6.5.1 Company Overview 6.5.2 Financial Analysis 6.5.3 Regional & Segmental Analysis 6.5.4 Research & Development Expenses 6.5.5 Recent strategies and developments: 18.104.22.168 Product Launches and Product Expansions: 6.6 Cognex Corporation 6.6.1 Company Overview 6.6.2 Financial Analysis 6.6.3 Regional Analysis 6.6.4 Research & Development Expense 6.6.5 Recent strategies and developments: 22.214.171.124 Product Launches and Product Expansions: 126.96.36.199 Acquisition and Mergers: 6.7 Casio Computer Co., Ltd. 6.7.1 Company Overview 6.7.2 Financial Analysis 6.7.3 Segmental and Regional Analysis 6.7.4 Research & Development Expense 6.7.5 SWOT Analysis 6.8 Denso Corporation 6.8.1 Company Overview 6.8.2 Financial Analysis 6.8.3 Regional Analysis 6.8.4 Research & Development Expense 6.8.5 Recent strategies and developments: 188.8.131.52 Product Launches and Product Expansions: 6.9 Juniper Networks, Inc. 6.9.1 Company Overview 6.9.2 Financial Analysis 6.9.3 Regional Analysis 6.9.4 Research & Development Expenses 6.10. General Data Company, Inc. 6.10.1 Company Overview