2D Barcode Reader Market worth $26.14 billion by 2030, growing at a CAGR of 9.77% - Exclusive Report by 360iResearch

The "2D Barcode Reader Market by Product (Fixed, Handheld), Barcode Type (Aztec code, Data matrix, GS1 Composite Codes), Connectivity, End-User - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global 2D Barcode Reader Market to grow from USD 13.60 billion in 2023 to USD 26.14 billion by 2030, at a CAGR of 9.77%.

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A Two-Dimensional (2D) Barcode Reader, also widely known as a 2D Scanner or QR Code Scanner, is a highly efficient tool that facilitates decoding information embedded within a 2D barcode or a QR (Quick Response) code. Unlike traditional linear or 1D barcodes that hold data in a single direction, 2D barcodes can store information vertically and horizontally within a defined space, significantly enlarging the capacity of data that it can hold. The 2D Barcode Reader employs advanced imaging technology to interpret and decode the two-dimensional composition of these barcodes and further converts this data into a format that digital devices understand. The market for 2D barcode readers refers to the global platform where various individuals, businesses, and industries sell and buy 2D barcode scanning devices. The 2D barcode readers use cameras, image processing techniques, and software applications to read barcodes. Industries such as logistics, supply chain, healthcare, education, and e-commerce widely employ these scanners to track, identify, and manage their inventory and assets. Primarily, these devices are utilized in inventory management, ticket verification, patient identification in healthcare, asset tracking, and document management. The 2D barcode reader market sees substantial growth due to various factors such as the growth of the eCommerce sector and the need for timely logistics activities, the high adoption of QR codes for contact tracing and mobile marketing, and the expanding use of wearable 2D barcode scanners and their availability online. However, several challenges exist in the 2D barcode reader market, such as latency issues of 2D wireless barcode readers and availability and preference for RFID technologies, limiting the market's growth. On the other hand, various potential opportunities, including technological advancements in 2D barcode readers and private investments for factory automation worldwide, influence the market positively.

In the developed markets of the United States and Canada, 2D barcode reader technology is growing due to increased usage in sectors including government, healthcare, shipping, and retail. Consumers in this region are tech-savvy and willing to invest in efficient technology, promising a vibrant future for the 2D Barcode Reader industry. Government regulatory bodies such as the U.S. Federal Trade Commission regulate barcodes and related technologies in the Americas, ensuring scanning accuracy and imposing sanctions for false advertising or misrepresentations. The Asia Pacific region, housing economic powerhouses such as China, Japan, and India, has seen an upsurge in using 2D barcode readers primarily due to the blossoming of e-commerce and digital payment systems. The large population and increased digitization drive substantial demand in this region. India and Indonesia are emerging markets for 2D Barcode readers. The requisite political support is present with numerous digital initiatives introduced by the government, such as 'Digital India,' aiming to transition to a paperless economy. Moreover, their demographic diversity and sheer size create a vast potential customer base. The increasing penetration of smartphones and government initiatives to encourage digital payment methods are fostering product reachability and awareness. The 2D Barcode reader market in the EMEA region is experiencing a significant surge, driven by market-friendly policies, technological progression, and the expanding adoption of IoT and Industry 4.0. The ongoing digital transformation in businesses across the region has stimulated the need for these devices to enhance robustness in data handling. Corporations are now embracing this technology to mitigate errors, reduce processing time, and streamline operations. In the Middle East and Africa, retail and eCommerce industry growth significantly contributes to the rise of 2D barcode reader usage. Many governments in this region, such as the UAE, are encouraging businesses to adopt digital and automated solutions. Such initiatives support the accelerated incorporation of technologies such as 2D Barcode Readers and also provide a conducive environment for the growth of relevant markets.

Market Segmentation & Coverage:

This research report categorizes the 2D Barcode Reader Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Product, market is studied across Fixed and Handheld. The Fixed is projected to witness significant market share during forecast period.

Based on Barcode Type, market is studied across Aztec code, Data matrix, GS1 Composite Codes, MaxiCode, PDF417, and QR code. The PDF417 is projected to witness significant market share during forecast period.

Based on Connectivity, market is studied across Wired and Wireless. The Wireless is projected to witness significant market share during forecast period.

Based on End-User, market is studied across Healthcare, Manufacturing, Retail & Grocery, Transportation & Logistics, and Warehouse Distribution. The Warehouse Distribution is projected to witness significant market share during forecast period.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 34.92% in 2023, followed by Americas.

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FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the 2D Barcode Reader Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the 2D Barcode Reader Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the 2D Barcode Reader Market, highlighting leading vendors and their innovative profiles. These include Adesso Inc., Bluebird Inc., CASIO Europe GmbH, Code Corporation, Cognex Corporation, Datalogic S.p.A., DENSO Corporation, General Data Company, Inc., Honeywell International, Inc., Juniper Systems Inc., Keyence Corporation, Marson Technology Co., Ltd., NETUM, Newland Auto-ID Tech, Novanta Inc., Omron Electronics, LLC, Opticon Sensors Europe BV, RIOTEC Co., Ltd., Sato Holdings Corporation, Scandit AG, SICK AG, Toshiba Corporation, Unitech Electronics Co., Ltd., Zebex Industries Inc., and Zebra Technologies Corporation.

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. 2D Barcode Reader Market, by Product
7. 2D Barcode Reader Market, by Barcode Type
8. 2D Barcode Reader Market, by Connectivity
9. 2D Barcode Reader Market, by End-User
10. Americas 2D Barcode Reader Market
11. Asia-Pacific 2D Barcode Reader Market
12. Europe, Middle East & Africa 2D Barcode Reader Market
13. Competitive Landscape
14. Competitive Portfolio

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the 2D Barcode Reader Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the 2D Barcode Reader Market?
3. What is the competitive strategic window for opportunities in the 2D Barcode Reader Market?
4. What are the technology trends and regulatory frameworks in the 2D Barcode Reader Market?
5. What is the market share of the leading vendors in the 2D Barcode Reader Market?
6. What modes and strategic moves are considered suitable for entering the 2D Barcode Reader Market?

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