The global in-counter barcode scanners market size is expected to be valued at USD 2,194.5 Million in 2022. With growing penetration of e-commerce and simplification of payment routes, coupled with streamlining of warehouse inventory and growing presence in public distribution systems, are factors for overall demand for in-counter barcode scanners is projected to grow at a CAGR of 7.7% between 2022 and 2032, totaling around USD 4,587.9 Million by 2032.
| Data Points | Key Statistics |
|---|---|
| In-counter barcode scanners Market Value 2022 | USD 2194.5 Million |
| In-counter barcode scanners Market Projected Value (2032) | USD 4587.9 Million |
| In-counter barcode scanners Market CAGR (2022 to 2032) | 7.7% |
In-Counter Barcode Scanners Market growth is on an upswing with almost all retail outlets employing bar-code scanners in authenticating sales of products purchased. Almost all products carry nowadays the bar code on them, are printed on them, and are read or scanned by bar-code scanners. Thus there is no dearth of in-counter bar-code scanners in retail outlets which amply bolsters product growth.
The growth of the best QR code scanner is also promptly ascertained with its state-of-the-art features and appended technological features that act in favor of the product.
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There is a spate of improvements taking place on the product front in favor of bar-code scanners that keep it abreast of supply and product tracking thus adding to its popularity. Almost all products coming into the market have barcodes printed on them, paving the way for scanners to do the rest. With mobile penetration, the bar-code scanners make the check-out process acutely simple and hence are on a fast track to growth.
Today, in-counter barcode scanners are being heavily depended on for recording and managing product information without making any major manual effort. In-counter barcode scanners are also used to make quick check-outs at cash counters, for easy and precise account keeping, and for better inventory control for manufacturers and retailers.
The escalating need for reducing human errors in terms of keeping track of the inventory may serve as an important growth factor for the barcode readers market.
Public Distribution Systems are orienting at a fast growth rate in the in-counter barcode scanners market
The fast emerging technologies in the public distribution system are the primary growth drivers in the in-counter bar-code scanners market. Public distribution systems across various countries are also implementing barcode readers, thus boosting the growth prospects of the barcode readers market. A paramount growth factor for industries to rely on handheld scanners in remote settings is fuelling product development.
With the logistics arm of many multinational service providers working in the foreground, the growth of the in-counter bar code scanners market takes on immense proportions. In this errors are minimized grossly, and product inventory is on-track with infinite time savings, thus giving to the growth of the in-counter barcode scanners market.
The flourishing e-commerce sector may also enjoy expansive growth opportunities for the barcode readers market. Penetration of advanced technology such as AI (Artificial Intelligence) may help the barcode readers market to harness surplus growth
The significant cost of in-counter barcode scanners deterrent to market growth
The cost of in-counter barcode scanners does not help the growth of the market which acts as a market restraint coupled with its immobility, which makes a dent in the progress of the in-counter barcode scanners market. Furthermore, the lack of awareness among a considerable populace is also a prominent growth obstacle that may dampen the growth of the barcode readers market.
Any task from point of sale to backroom inventory is streamlined when associates have full-shift battery power, can read multiple codes at once, and are provided actionable insights to resolve issues faster. Scale this new scanning experience easily with remote fleet management and ongoing support from experts in the field.
The growing preference for online shopping and the concurrent growth in e-commerce and logistics is expected to drive the growth of the market.
Businesses in several industries and industry verticals, including retail and manufacturing, are steadfastly using barcodes and allied systems to keep a check on inventory and follow individual products or product batches remotely in a large facility. Thus, a barcode scanner becomes a vital component for decoding and interpreting the data stored by the barcode. Barcode scanners ensure transparent inventory control management with accuracy paramount.
North American adoption of Public distribution system is rapid and instrumental to the growth
On a geographic basis, North America will be the largest market for In-counter barcode scanners market due to the rapid adoption of advanced technologies in the public distribution system.
E-commerce growth in North America has a robust flavor, particularly in the USA, due to a large number of Internet-abound shoppers there, as well as the world's prolific technical experts. The North American e-commerce boom has experienced an unprecedented level of funding, available from a variety of sources. Moreover, many analysts believed that the time savings offered by shopping online appealed to USA residents, who were considered more time conscious than individuals in other parts of the world, such as Europe or Asia.
Europe's e-commerce industry growing at a fearsome pace to stake a claim in the in-counter barcode scanners market
Europe’s e-commerce industry is expanding at a fiery pace. Business to Business (B2B) dominated the e-commerce growth industry in Europe in terms of revenue in 2019, with an enormous share in the range of 60 to 70 % percent, and is predicted to grow at the quickest rate in the forecast period.
This can be due to businesses' increasing preference for online selling and purchasing of goods and services. Furthermore, the B2B e-commerce segment is expected to be driven by increased smartphone adoption and internet usage over the projection period. This provides explosive growth for the in-counter barcode scanners market.
Banks and other e-commerce businesses are mandating a safe and secure online platform for customers to transact with a payment gateway. In order to enable sellers and customers to trade online, market players are focusing on making innovative improvements to their business modules. The market's top retailers are attempting to supplement their traditional selling with e-commerce by partnering with other significant e-commerce companies. This brings the in-counter barcode scanners market into significant growth.
Warehousing segment to display linear growth in the industry with importance to streamlining of processes
The warehousing segment in the in-counter barcode scanner industry is expected to post impressive figures in its development. Even the smallest of retail companies will need to rely on the technology of some kind to streamline their warehouse processes. The larger you grow - and the faster the rate - the more vital your technology stack becomes.
Depending on your individual needs, you’ll likely want to invest in some level of heavy-duty equipment and machinery to better enable your warehouse team to physically move, store, and deliver products. As your inventory grows - and your warehouse processes grow more complex - you’ll also want to invest in technology that allows you to easily track your products from receipt to delivery. Here the in-counter barcode scanner has a large role to play.
Manufacturers are adopting various marketing strategies such as new product launches, geographical expansion, mergers and acquisitions, partnerships, and collaboration to identify the interest of potential buyers and create a larger customer base. For instance,
In Jul 2022, Socket Mobile Announces SocketScan S720, Linear Barcode Plus QR Code Reader. Socket Mobile, Inc. a leading provider of data capture and delivery solutions designed to streamline workplace productivity, is excited to announce the launch of their linear barcode and QR code reader, SocketScan S720. Socket Mobile is continuously inventing to provide data capture solutions that meet or expect altering market needs.
The prominent players in the In-counter barcode scanners market are Honeywell International Inc., Zebra Technologies Corporation, Cognex Corporation, SATO Holdings Corporation, Toshiba TEC Corporation, Wasp Barcode Technologies, Datalogic S.P.A, Scandit AG, and others.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 6.5% from 2022 to 2032 |
| Market Value in 2022 | USD 2194.5 Million |
| Market Value in 2032 | USD 4587.9 Million |
| Base Year for Estimation | 2021 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Vertical, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | United States of America, Canada, Brazil, Mexico, Germany, United Kingdom, France, Italy, China, India, Japan, ASIAN, GCC Countries, South Africa |
| Key Companies Profiled | Honeywell International Inc.; Zebra Technologies Corporation; Cognex Corporation; SATO Holdings Corporation; Toshiba TEC Corporation; Wasp Barcode Technologies; Datalogic S.P.A; Scandit AG |
As of 2022, the in-counter barcode scanners market is slated to reach a valuation of USD 2194.5 Million
From 2022 to 2032, sales of in-counter barcode scanners are expected to grow at a 6.5% CAGR
By 2032, Future Market Insights expects the in-counter barcode scanners market to reach USD 4587.9 Million
In-Counter Barcode Scanners Market
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