Image based Bar Code Reader Market Size, Share and Analysis By Product Type (Portable/Handheld Scanners, Rugged Scanners, Pda Scanners, Smart Phones, Automatic Readers, Cordless Scanners), By Application (Retail and Commercial, Automotive, Food & Beverages, Semiconductors, General Manufacturing) and Regional Forecast, 2024-2032

A bar code reader is a device that scans the bar code, decodes it, and transmit the data to the connected server. The bar code reader consists of a coder, decoder, and a cable. These devices are integrated with other devices that has a high resolution camera and are mostly used to track products, price of the product, place, and bills. The recent advancements in QR scanner applications in giant retail spaces are paying bills, checking inventories, finding location of the products, providing descriptions, and many more.

Internet has become inevitable these days. As on March 2021, it was reported that there are around 5,168 million people using internet which is more than 65 percent of the total world population. The growth in the usage of internet is one of the major factor propelling the market for image based bar code readers. Technological advancements in smart phones has reduced the cost of mobile phones and internet is another reason for the increased adoption of bar code readers. The companies these days are vigorously focusing on reading customer behavior to capture the market they are in. The QR readers reduces the time of data collection since the basic details are already fed in the device used for scanning. However, the high cost of adoption and the data privacy issues are some of the factors that are concerning the market growth of image based bar code readers.

Impact of COVID-19 on the Global Image based Bar Code Reader Market:

Although the covid-19 pandemic has affected many sectors negatively image based bar code reader market is one among the very few sectors that faced a positive impact. The contactless payment trend has increased the demand for the readers and the trend is expected to prevail in future due to the awareness gained during the pandemic.

Key Insights

The report will cover following key insights:

• Micro Macro Economic Indicators


• Drivers, Restraints, Trends and Opportunities


• Business Strategies Adopted by the Players


• Impact of COVID-19 on Global Image based Bar Code Reader Market


• Consolidated SWOT Analysis of Key Players

Regional Analysis

Asia-Pacific has the highest market share for the current period and is expected to dominate the market throughout the forecast period. The high penetration and adoption of image based reader in countries like China and Japan is driving the market growth. China is known for production of electronic devices due to low taxes, low production cost, and incentives by government, hence the production of advanced smart phones and other bar code scanners are also in rise. This factor also contributes to the enormous growth of image based barcode market.

North America is witnessing the second highest growth for the market. The increased automation activities in retail sector is one of the major driving factor of the market.

• For instance, in 2020 retail and commerce sector contributed to 30 percent of the bar code reader market in the United States. Also the growing penetration of high speed internet connectivity across regions is surging the demand for QR readers.

Europe is also witnessing a decent growth for the market in the considered period. The sectors that are critical for the market growth in this region are manufacturing, and logistics & warehouse. Europe is known for production of automobiles and the associated parts. So the presence of warehouses for storing the manufactured parts are inevitable and the automation in those warehouses increases the demand for image based barcode readers. Latin America and Europe are also expected to show positive growth for the market. The presence of Labelling and Packaging industries in Latin America is where bar codes play a major role and thereby increasing the demand for bar code readers.

Key Players Covered

The key players in the market are Balluff Automation India Pvt. Ltd., RTscan Technology Limited, Scandit, Wasp Barcode Technologies, SATO America, Axicon Auto ID Limited, Handheld Group, Cognex Corporation, Data Logic S.p.A, Honeywell International, Inc., OMRON Corporation, Zebra Technologies Corp., and KEYENCE Corporation.

Segmentation

Key Industry Developments

• In December 2021- Raiffeisen Online Russia has introduced new QR scanning technology developed by Smart Engine Ltd., a software development company specialised in image processing and optical character recognition. These Smart Engine devices are capable of scanning 1D and 2D bar codes on documents, screens, and other surfaces.


• In November 2021 – Capitec, a South African bank, introduced a new QR scanning technology called Pay Me. With this technology the customers can send and receive money from other customers of Capitec. This technology is capable of tracking and managing all the transaction and keep note on where the customers’ money is going.