Barcode Scanner Market

2021 Analysis and Review: Barcode Scanner Market by Product Type - Portable/Handheld and Fixed for 2021-2031

Barcode Scanner Market Snapshot

As per newly released data by FMI, the barcode scanner market is estimated to be worth US$ 7 Bn in 2021. The market is expected to grow at a CAGR of over 7.6% between 2021 and 2031. Increase in healthcare sector is expected to increase the demand for barcode scanners over the assessment period.

Despite challenges posed by COVID-19 outbreak, the barcode scanner demand increased with a rapid shift from handheld laser scanning to imaging solutions.

North America will remain as a leading market, accounting for over 30% value share in 2021. Barcode scanner demand outlook for North America is expected to remain positive with the healthcare sector touted as leading contributor.

Key Points Covered in Barcode Scanner Market Study

  • Market estimates and forecast 2021-2031
  • Key drivers and Restraints impacting market growth.
  • Brand share and Market share Analysis.
  • Segment-wise, Country wise and Region wise Analysis.
  • Competition Mapping and Benchmarking.
  • Key Product Innovations and Regulatory Climate
  • Covid-19 impact on Barcode Scanner Market and How to Navigate.
  • Recommendation on key winning strategies.

2016-2020 Barcode Scanner Market Outlook in Comparison to 2021-2031 Forecast

The global barcode scanner market is estimated to grow at a healthy pace between 2021 and 2031 as against 5% CAGR registered in 2016 - 2020. The market is expected to register growth at a robust pace on the back of healthy demand from retail, e-commerce and logistics, and manufacturing facilities.

The demand for barcode scanners will accelerate with top 5 providers holding nearly 30% of barcode scanner market in 2021.

With the digitalization of public distribution system and increase in the number of e-retailers, the market players have ample scope for expansion. Barcode scanners are being widely adopted across various industries due to their advantages such as reduced downtime, prevention of incorrect deliveries and robust control on tracking assets and quality information.

The increasing use of barcode technology as an automatic identification system to reduce human errors will emerge as a chief growth driver.

Besides this, the rising demand from healthcare sector is expected to drive growth during the forecast period. Healthcare centers are using latest barcode technology for managing medicinal records and for preventing errors in the data. Similarly, the increasing demand of barcode scanners in supermarkets and hypermarkets is propelling growth.

In order to cater to the demand from diverse sectors, market players are focusing on expanding their portfolio.

For instance, Cognex Corporation introduced an advanced series such as DataMan 8700, MX-1502 and others, which can read codes from as near as 15–30 cm to as far as 10 meters away, making it ideal for scanning barcodes on floor labels, rack labels on high shelves, and slips hanging from warehouse ceilings.

Similarly, Honeywell has recently unveiled new devices with disinfectant-ready housing like Xenon XP and Voyager XP. These scanners can capture the most difficult to read or damaged barcode easily.

North America to Emerge Dominant in Barcode Scanner Market

North America is expected to create total incremental opportunity of more than US$ 1500 Mnbetween 2021 and 2031. The North America barcode scanner market is expected to account for more than 30% value share by the end of 2021. The region is projected to expand at a CAGR of 6.9% over the forecast period.

Sales of barcode scanners in the U.S. is estimated to be valued at US$ 1404 Mn by the end of 2021 and is expected to witness significant growth over the forecast period, exhibiting high value–high growth.

However, the barcode scanner market in Canada is expected to incline towards low value–high growth during the forecast period. Canada is projected to represent total incremental opportunity of more than US$ 240 Mn between 2021 and 2031.

Barcoding is widely adopted in all regions; however, each region adopts different technologies and systems for barcoding. Implementation of barcodes in products was first initiated in the U.S. when a barcode was printed on a pack of chewing gum in the early 1950’s.

Currently, barcoding has become a norm as far as information tracking and recording of products is concerned. North America has adopted high-end barcode scanners such as cordless scanners, rugged scanners, omni-directional scanners and stationary scanners in multiple industries.

The growth rate of barcode scanner technologies such as CCD and pen type reader is lesser when compared to other technologies implemented in this region. Another trend is the development of dedicated barcode scanners for specific applications such as barcode scanners for usage in hospitals and theme park admission tickets.

Rising Barcode Scanner Application in Healthcare Sector to Facilitate Growth

Barcode scanners are being increasingly adopted in every aspect of the healthcare industry. According to the Institute of Medicine of the National Academies (IMNA), most of the medical errors caused in a hospital during the stay of a patient are due to improper medication, which in turn is a result of wrong diagnosis resulting in loss of life. Hence, hospitals these days prefer a computer prescribed database to feed the updated information of a patient.

Through the use of barcode scanners, every possible error can be rectified. Tracking exact patient records and reducing drug-related mistakes during a patient’s hospital stay becomes easy. This has led to an increase in demand for barcode scanners in North America.

Barcode Scanning Becoming a Norm in Retail Sector

Use of barcode scanners is rapidly growing in the retail and manufacturing industries in North America. Barcode scanners have become one of the best solutions for product information capturing. Retailers worldwide use barcodes for hassle-free recording of supplies and commodities.

Barcodes imprinted on labels are pasted on products, which help in recording information regarding product count, date of manufacturing, date on which the product was supplied to the retailer, selling price, etc. When these products are scanned, the information is retrieved and monitored.

This entire process, which is completed within a few seconds, not only increases efficiency but also minimizes errors. This has helped retailers record their products and inventory on shop floors and warehouses. Major retailers such as Walmart, Carrefour, Costco and IKEA put barcodes on all their products. This in turn is driving the growth of the barcode scanner market in North America.

Portable/Handheld Barcode Scanner Sales Poised to Surge

The portable/handheld segment (includes rugged, cordless, automatic, PDA and other scanners) is projected to increase at a CAGR of 5.7% over the forecast period. By technology, the camera-based reader segment is projected to gain 430 basis points during the forecast period due to increasing demand from the retail and manufacturing sectors in North America.

The healthcare end-use segment is projected to gain more than 350 basis points during the forecast period due to increasing demand for barcode scanners in hospitals in North America.

Key questions answered in the Report

  • How much is the barcode scanner market worth?

    Driven by the changing preferences in healthcare and retail sectors, the barcode scanner market is estimated to be valued worth US$ 7Bn in 2021.

  • What is demand outlook for barcode scanner market?

    Spurred by the rising demand in healthcare and retail sectors, the barcode scanner market is expected to grow at a CAGR of over 7.6% between 2021 and 2031.

  • At what rate did the barcode scanner market grow in the last five years?

    The barcode scanner sales grew at 5% CAGR in the last five years, from 2016 to 2020.

  • What are the key trends shaping the barcode scanner market?

    Product diversification and aggressive sales through online channels are key trends influencing strategies undertaken by barcode scanner OEMs.

  • What are the key factors driving barcode scanner demand?

    Barcode scanner sales will rise in response to the increasing digitization of public distribution systems across the retail sector.

  • What is the North America barcode scanner market outlook?

    North America market is expected to register growth at nearly 7% CAGR between 2021 and 2031.

  • At what rate will the barcode scanner market grow in Europe?

    The barcode scanner market is expected to register CAGR of 5.2% between 2021 and 2031 in Europe.

  • Which countries are key producers of barcode scanners?

    The U.S., Germany, Japan, South Korea and Taiwan are key producers of Barcode scanners.

  • Which are the key exporters of barcode scanners?

    East Asia countries like China, Japan, and South Korea are considered as key exporters of barcode scanners.

  • What is the key barcode scanner market statistics in South Korea and Japan?

    Japan and Korea are expected to contribute around 10% of sales share in the global market over the forecast period.

Market segmentation

By Product Type

  • Portable/Handheld
    • Rugged Scanners
    • PDA Scanners
    • Automatic Readers
    • Others
  • Fixed Position
    • Stationary Scanners
    • Presentation Scanners
    •  Automatic Readers
    • Others

By End Use

  • Retail & Commercial
  • General Manufacturing
  • Healthcare
  • Logistics & Warehouse
  • Commercial Aviation
  • Defence
  • Others

By Technology

  • Pen Type Reader
  • Laser Scanner
  • CCD (Charge Coupled Device) Readers
  • Camera Based Reader
  • Omni Directional Barcode Scanner
  • Smartphone Based Scanner
  • RFID (Radio Frequency Identification Technology

By Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • MEA

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