Press release
Necessity For Real-Time Data Gathering Is Projected To Drive The Global Barcode Software Market By 2032
Furthermore, the adoption of barcode software has enabled institutions to run more smoothly and effectively while also drastically decreasing mistakes incurred by employees. For instance, Zebra Technologies Corporation reported a scenario of a bakery firm that saved US$ 3 million in inventory and distribution expenses in the first year after deploying barcode software in its inventory monitoring system.
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This comprehensive barcode software market analysis report by Fact.MR segments the global market by its application, end-use industrial verticals, and geographical regions. The global barcode software market is categorized as asset management, package tracking, staff attendance & time monitoring, and others within the application segment. On the basis of end-user industrial verticals, the market is segmented into BFSI, transport and logistics, Healthcare, telecom & IT, and Others.
Key Takeaways
The overall growth of the global barcode software market size, in terms of absolute Dollar, is predicted to be around US$ 630.8 Million through 2021 to 2032.
Asset management segment is predicted to be the rapidly growing segment on the basis of applications for barcode software at various end use verticals by witnessing a CAGR of 6.4%.
Currently, United States (US) barcode software market dominates the total revenue generated by contributing nearly US$ 271.5 Million in 2022.
Asia Pacific is the fastest growing region in demand for barcode software that has translated into an overall record CAGR of 6.3% over the forecasted years.
China is poised to be very lucrative country for the barcode software market players that is estimated to reach a valuation of US$ 98.9 Million by the end of this forecast period in 2032.
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Competitive Landscape
Some of the prominent players contributing significantly for the global barcode software market growth are Dynamic Systems Inc., Cvision Tchnologies, Inc, Datalogic S. p. A, Denso ADC, General Data Company, Inc., Honeywell International Inc., NCR Corpoation, Zebra Technologies Corporation, and ZEBEX Industries Inc. among others.
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Key Segments
By End User :
Banking, Financial Institutions, and Insurance (BFSI)
Transportation and Logistics
Manufacturing
Healthcare
Retail
Others
By Application :
Package Tracking
Employee attendance and Time Tracking
Asset Management
Others
By Region :
North America
Latin America
Europe
Asia Pacific
Middle East and Africa (MEA)
Recent Developments in Gym Apparel Market
General Data Company announced that it would purchase AmeriGraph Packaging Group by the end of 2020. Following this development, General Data's label conversion capabilities now encompass prime labels and shrink sleeve packaging for consumer goods and packaged food. It has also bolstered the company's portfolio by adding a distribution centre for southeast region to better serve its existing clients.
Datalogic is a leader in data capturing and process automation that announced acout releasing the MatrixTM320 during the mid-2020. It is regarded as the most efficient and small industrial fixed image-based barcode scanner that is capable of providing more flexibility and performance while improving operator safety and reducing total cost of ownership (TCO) as well.
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It affects everything from resource allocation to income distribution and growth. Global statistical accounting challenges notwithstanding, tracking the digital economy's growth trajectory is essential because it serves as an integral forward-looking barometer of the economic growth and international competitiveness.
Conceptually, the digital economy comprises goods and services that either were produced using digital technologies or include these technologies. The information and communications technology (ICT) industry stands at the center of much of this activity, underpinning the digital economy and serving as a reliable yardstick.
In the digital era, innovation, entrepreneurial dynamism, and information and ICT production will drive global competitive edge. The ICT industry and ICT-enabled industries make important contributions to economic growth. This paper attempts to value those contributions and benchmark the importance of the ICT sector in the U.S. economy by assessing its contributions to economic growth, job creation. The sector's downstream contributions to the small business ecosystem and investments in reskilling and upskilling initiatives are examined. Finally, systemic challenges related to data privacy, trade, and immigration facing the sector are reviewed.
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