ALBANY, N.Y, Sept. 16, 2020 /PRNewswire/ — Barcode scanners assist in storing information of a particular product such as manufacturing date, supply date, and selling price that is printed on the packaging of the product in the form of a barcode. This function proves beneficial and convenient for the end-user. Therefore, the barcode readers market may gain good growth based on this prominent benefit.
Considering these factors, the global barcode readers market is prognosticated to expand at a CAGR of ~4 percent across the forecast period of 2020-2030. The global barcode readers market may attain a valuation of US$ 10.1 bn by 2030.
The advent of barcode technology has reduced the overall burden on the retailers in terms of tracking and supply of the products. This aspect has proven to be the best advantage for the barcode readers market to flourish over the years. Furthermore, cutting-edge features and technological advancements are inviting good growth through the forecast period.
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Barcode Readers Market: Transparency Expert Diagnosis
The analysts at Transparency Market Research (TMR) highlight the growing demand for barcode scanners in the healthcare sector due to the novel coronavirus outbreak.
New technologies are being developed by players in the barcode readers market to assist in handling the COVID-19 outbreak. The analysts point out that apart from hands-free scanning devices, various players in the barcode readers market are developing mobile scanning apps that assist the healthcare professionals to scan barcodes of COVID-19 test samples. Therefore, this aspect may serve as a prominent growth aspect according to the analysts.
The analysts also suggest the players in the barcode readers market to enable smooth integration of software and hardware technologies for combining a hassle-free and structured inventory data.
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Barcode Readers Market: Key Revelations
- The fixed barcode readers segment is estimated to record notable growth in terms of form factor
- On the basis of type, the wired barcode readers may bag the title of the fastest-growing segment across the forecast period of 2020-2030
- North America may serve as a prominent region during the assessment period
- The U.S., Mexico, and Canada may prove to be prominent growth-contributing countries during the forecast period
Explore 234 pages of superlative research, current market scenario and extensive geographical projections. Gain insights into the Barcode Readers Market (Form Factor: Fixed and Handheld; Type: Wired Wireless; and End User: Retail & e-Commerce, Transportation & Logistics, Warehouse, Courier & Postal Services, Manufacturing, Healthcare, and Others) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030 at https://www.transparencymarketresearch.com/barcode-readers-market.html
Barcode Readers Market: Growth Boosters
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 from 2020 to 2030.
- The healthcare sector may bring tremendous growth prospects for the barcode readers market
- Patient tracking with the help of barcode readers, especially during the SARS-CoV-2 outbreak may prove to be a game-changer for the barcode readers market
- The magnifying ecommerce sector may also invite 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 exponential growth
- Public distribution system across various countries are also implementing barcode readers, thus boosting the growth prospects of the barcode readers market greatly
Analyze global barcode readers market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Barcode Readers Market: RFID Readers Proving Major Growth Restraint
RFID-based barcode readers prove a threat to barcode readers. RFID readers are cheaper than barcode readers and can perform the same functions with fewer complications. RFID readers also display greater operational efficiency.
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.
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Global Barcode Readers Market: Segmentation
By Form Factor
By End User
- Retail & e-Commerce
- Transportation & Logistics
- Courier & Postal Services
- Others (Aviation, Port, etc.)
- North America
- Asia Pacific
- Middle East and Africa
- South America
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