According to a recent report by Reports and Data, the global Qr Code Reader Market was valued at USD 4.5 billion in 2022 and is predicted to experience a revenue compound annual growth rate (CAGR) of 7.5% over the forecast period.
The increasing popularity of 2D barcodes in e-commerce and mobile payments has resulted in a surge in demand for Qr Code Reader. The healthcare sector is one significant end-user of these readers, utilizing them for precise patient identification, prescription tracking, and medical supply management. Another driving factor for the demand for Qr Code Reader in healthcare is the need for data accuracy and patient safety.
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Some Key Highlights from the Report
- During the forecast period, the portable segment is expected to generate the highest revenue share. This is mainly attributed to the flexibility and convenience offered by handheld barcode scanners, which are extensively used to scan barcodes from various angles and locations. Handheld barcode scanners find frequent application in inventory management, asset tracking, and product identification across industries such as retail, healthcare, and transportation. The growth in revenue for this segment is anticipated to be propelled by advancements in wireless connectivity and ergonomic design.
- The logistics segment is expected to have the highest compound annual growth rate (CAGR) in revenue during the forecast period. This growth is anticipated to be driven by the rising demand for real-time tracking of products and the increasing need for automation in logistics operations. By tracking the movement of goods across the supply chain, businesses can optimize their processes and reduce costs through the use of barcode scanners in logistics. The adoption of 2D barcodes has also facilitated the integration of innovative technologies like RFID and GPS, thereby enhancing the efficiency of barcode scanners in logistics.
- The North American market is expected to have the largest revenue share during the forecast period due to various factors, such as the presence of a large number of industry competitors and high adoption rates of new technologies. This region's increasing use of automation technologies and requirement for efficient inventory management systems are anticipated to boost demand for Qr Code Reader. The popularity of contactless payment systems and the need for supply chain traceability and trackability are also contributing to the region's revenue growth. Moreover, market players are likely to benefit from the favorable government policies and efforts that promote the adoption of automation technologies in the region.
Competitive Landscape:
Competitive landscape of global 2D Barcode Reader market is quite fragmented with regional and global key players. These market players are involved in various strategies including mergers and acquisitions, collaborations, new product launches or corporate deals to retain their market position and expand their product portfolio.
some leading companies operating in the global 2D Barcode Reader market:
Zebra Technologies Corporation, Honeywell International Inc., Datalogic S.p.A., Cognex Corporation, SICK AG, Bluebird Inc., Opticon Sensors Europe B.V., Tripod Data Systems Inc., NXP Semiconductors N.V., and DENSO Corporation.
Product Type Outlook (Revenue, USD Billion; 2022 - 2032)
- Handheld
- Fixed
Application Outlook (Revenue, USD Billion; 2022 - 2032)
- Warehousing
- Logistics
- E-Commerce
- Factory Automation
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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