Press release
Barcode Software Market are Calculated to Reach US$ 1.5 Billion by 2034
Revenue from barcode software sales is expected to reach US$ 836.3 million in 2024, as revealed in an updated market report released by Fact.MR. The global barcode software market is forecast to expand at a CAGR of 6% and reach a value of US$ 1.5 billion by the end of 2034.As a result of the several benefits of using barcode technology, it has become one of the most popular methods for saving time and minimizing mistakes in the retail business, which is driving up the demand for barcode software among several enterprises. The adoption of barcode software has also provided chances for solution suppliers to target the supply chain segment for growth and revenue generation by the users.
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Increased demand for barcode software is attributed to its use in gathering real-time data with the expansion of the e-commerce sector. Barcodes are significantly used instead of conventional images used for offering product information. They are used as a convenient method of collecting and scanning information. Prescription administration in hospitals and billing at supermarkets, such as planning and order management during commercial transactions are contributing to the increased use of barcode software for quick and simple transactions.
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.
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.
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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.
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.
Key Segments
By Deployment :
On-Premise
Cloud-based
By End User :
Banking, Financial Institutions, & Insurance (BFSI)
Transportation & Logistics
Manufacturing
Healthcare
Retail
Others
By Application :
Package Tracking
Employee Attendance & Time Tracking
Asset Management
Others
By Region :
North America
Latin America
Western Europe
Eastern Europe
East Asia
South Asia & Pacific
MEA
Read More - https://www.factmr.com/report/barcode-software-market
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