Barcode Scanner Market - Global Size, Share, Trends, Growth and Forecast Year ( 2023 – 2032 )
Barcode Scanner : Definition
A barcode scanner, also known as a point-of-sale (POS) scanner or a price scanner, is a device that captures and reads data from barcodes. A light source, a lens, and a light sensor that converts optical impulses into electrical ones make up the scanner. A barcode scanner measures the quantity of light reflected after sending a beam of light across the barcode. The light is reflected less by the black bars on the barcode than by the white spaces between them. The light energy is eventually transformed into electrical energy by the scanner, which is ultimately transformed into data by the decoder and transferred to a computer.
Barcode Scanner Market: Size and Share
The market size for Barcode Scanner Market was USD 7.3 billion in the year 2022. It is expected that the market size for Barcode Scanner will increase by approximately USD 16.5 billion by 2032 as the market for Barcode Scanner is continuously growing at a compound annual growth rate (CAGR) of 8.5% during the forecast period 2023-2032.
Barcode Scanner Market Report Scope
USD 7.3 billion
USD 16.5 billion
8.5% from 2023 to 2032
Barcode Scanner Market Key Drivers:
There are various factors which help in the growth of the Barcode Scanner Market. They are as follows:
- Exponentially increasing use: Increasing use by manufacturers, retailers, vendors, and suppliers, in different industries, e.g., logistics and warehouse, retail & E-Commerce, etc. barcode scanner is the most important tool in these businesses when it comes to product information capture and storage of that data, i.e., cost price, selling price, date of expiry, serial number, etc. This is projected to influence the barcode scanner market in the forecast period.
- Increased use in the healthcare industry: The use of barcode scanners in the healthcare industry increased due to the COVID-19 pandemic. This was driven by the constant need for patient record monitoring, drug, and vaccine data maintenance, etc. This trend is projected to continue in the same forecast period since more COVID variants like Delta and Omicron keep emerging in different continents.
Barcode Scanner Market Challenges:
There are many challenges which are faced by Barcode Scanner Market. They are listed below:
- High Cost: There is a high cost associated with a barcode scanner as it requires high-tech features and skilled personnel for its development.
- The threat of other substitutes: Other substitutes like RFID (Radio-Frequency Identification) tags use electromagnetic fields to automatically identify and scan the tags attached to different products. RFID scanning systems are capable of reading multiple patterns at once. Therefore, they can scan more products than a barcode scanner does. RFID tags are gaining more momentum in warehouse and logistics markets around the globe. It is projected to hamper the growth of the barcode scanner market in the mentioned forecast period.
Barcode Scanner Market Regional Synopsis:
- North America: The North American region held the second-highest place in the global barcode scanner market. This was due to the presence of E-commerce giants in the country, like Amazon and Walmart. The growth of this region in the barcode scanner market is projected to happen in the warehouse segment. This is due to some of the largest warehouses in the world being present in the United States. (E.g., Tesla Warehouse, California, and NASA Vehicle Assembly Building, Florida).
- Europe: The European region is projected to witness significant growth in the global barcode scanner market in the mentioned forecast period. It can be attributed to Germany and Italy being the top exporters of barcode scanners projected to lead the global market in this region in the mentioned forecast period.
- Asia-Pacific: The Asia-pacific region dominated the global barcode scanner market in shares. China is the leading manufacturer and exporter of barcode scanners from this region. This region is also projected to witness rapid growth in the global barcode scanner market in the forecast period. It can be attributed to the high population and growing retail industry in the Asia-Pacific region.
- LAMEA: The market of Latin America, the Middle East, and Africa have moderate growth in the barcode scanner market, as compared to the other regions.
Barcode Scanner Market Segmentation:
The Barcode Scanner Market is segmented into various categories which are listed below:
- Handheld Barcode Scanner
- Stationary Barcode Scanner
- Inventory Control and Management
- Error Optimization
- CCD Readers
- Omnidirectional barcode scanners
- Laser-based Scanners
- Pen-Type Reader
- Retail & Commercial
- General Manufacturing
- Logistics & Warehouse
- North America
Barcode Scanner Market Key Players:
- Honeywell international Inc.
- Cognex Corporation
- SATO Holdings Corporation
- Datalogic S.P.A.
- Zebra Technologies Corporation
- Scandit AG
- TEC Corporation
- Scandit AG