Barcode Scanner Market Research Report, Trends, Analysis and Forecast to 2023

Barcode is a visual depiction of data which can be read by machines. Barcodes typically describes the objects or assets on which they are applied. Unlike radio-frequency identification (RFID) tags, barcode tags should be visible so that they can be read by scanners. A barcode scanner or a barcode reader is an electronic device that can read a barcode and gives an output of printed barcodes to a computer. It consists of a light source, a lens, and a light sensor, which translates visual impulses into electrical ones. Nowadays, barcode scanner has replaced the manual efforts with recording and managing product information online. Also, this scanner is used to make quick check-outs at the cash counter. A barcode reader comprises of a scanner, a decoder as well as a cable that is connected to the computer. The connected computer decodes the data captured with the help of software. These scanners use high-resolution cameras to capture multiple barcodes simultaneously. Presently, barcode scanners have become one of the best solutions for recording and managing product information without making any major manual effort. It also simplifies supply chain tracking; they automate processes and enable workers to just scan and capture information in records. 

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Various sectors including meat processing and fruits and vegetables from the food & beverage industry are adopting barcode scanners for efficient tracking of food trays. An automatic identification/scanning system based on the barcode technology can help significantly in reducing human errors. As such, several business verticals, such as marketing, advertising, food delivery, electronics, engineering, healthcare, manufacturing, warehousing, and telecommunications, have started adopting the 2D barcode technology. The benefits of the barcode scanner including easy and accurate account keeping, better inventory control for manufacturers and retailers, saves time, increase efficiency, minimize mistake, smother internal operation, and low maintenance device, etc. The “Global Barcode Scanner Market” is expected to grow from $2.12 billion in 2016 to reach $3.18 billion by 2023 with a CAGR of 5.9%.

Due to the digitalization of the public distribution system and due to increase in the number of e-retailers the barcode scanner market is expected to grow during the forecast period. The barcode scanner market is flattering more popular in various industries owing to cutting-edge features and technological advantages of barcode scanner. The advent of barcode technology is likely to reduce the hurdles in the tracking and contribute for the retailers in the market proving growth opportunity for the barcode scanner market. Also, this technology is becoming more efficient and has been consistently improved. The same results in increasing printing of the barcode on most of the products coming in the market, which are scanned through barcode scanners. 

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In the immediate future, we will see the technologies being utilized in conjunction with better scanning devices, like “self-scanning tunnels,” that can scan an item’s code despite of how it passes through the device. These types of systems can also process items at a much faster rate even processing items off of a conveyor poignant at 67 feet per minute. The second phase we see in the future of barcodes is in “image barcodes” which will be able to scan an item (like the can of Coke) based on its logo and appearance.

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Barcode Scanner market in Asia Pacific is expected to have lucrative growth during the forecast period, owing to adoption of QR Codes by consumers and businesses, high adoption of barcode scanner by logistics, retail, healthcare sectors, increase in the number of e-retailers and the presence of various key players in countries including China, India, Japan, and South Korea. The growth of the retail industry and the subsequent growth in manufacturing activities are necessitating the use of automated warehouses and have hence triggered the demand for barcode readers in this region. Moreover, manufacturers in the region are looking for printing technology that enables them to cut costs, streamline operations, and improve quality control that fuels the growth of the barcode scanners market. This is propelling the players to come up with solutions that enable them to cater to such needs. The growth of the logistics industry in the region, coupled with the rise in online shopping, could promote the adoption of barcodes in the region positively. An increasing number of retail outlets in developing countries, such as Thailand, India, China, Vietnam, Singapore, Japan, and South Korea, are contributing to the high demand for barcode scanning equipment in Asia Pacific. QR Codes, a Japanese technology, are two-dimensional barcodes that can store far more information than one-dimensional UPC or EAN barcodes, making them ideal for marketing and advertising use.