Identification (ID) Barcode Readers In Factory Automation Market Growth Analysis, Trends, Share, Market Size And Forecast To 2033

The new report published by The Business Research Company, titled ""Identification (ID) Barcode Readers In Factory Automation Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the identification (ID) barcode readers in the factory automation market size have grown strongly in recent years. It will grow from $2.38 billion in 2023 to $2.56 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The identification (ID) barcode readers in the factory automation market size are expected to see strong growth in the next few years. It will grow to $3.43 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%.

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Effect Of Image Recognition On ID Barcode Readers In Factory Automation
The increasing use of image recognition applications is expected to drive the growth of ID barcode readers in the factory automation market going forward. Image recognition refers to identifying and detecting objects or features in digital images and photographs. The demand for ID barcode readers in factory automation to enhance efficiency, traceability, and error reduction in production and inventory management processes. Image recognition uses ID barcode readers to quickly and accurately identify and process information encoded in barcode images, facilitating automated data retrieval and management. For instance, in January 2022, according to a report published by Capital Economics, a UK-based economics company, about 2% of businesses are testing AI, and 10% plan to adopt AI technologies, which equals around 62,000 and 292,000 businesses, respectively. Among AI applications, data management and analysis are the most common, used by 9% of UK firms. This is followed by natural language processing (8%), machine learning (7%), AI hardware (5%), and computer vision/image recognition (5%). Therefore, the increasing use of image recognition applications drives growth in ID barcode readers in the factory automation market.

Innovation In ID Barcode Technology With Compact Industrial 1D Code Readers
Major companies operating in the identification (ID) barcode reader market in the factory automation market are focusing on innovation in ID barcode technology applications, such as compact industrial 1D code readers, to provide reliable and high-performance barcode reading capabilities. Compact industrial 1D code readers are barcode scanners designed for manufacturing and logistics environments. For instance, in January 2024, Datalogic S.p.A., an Italy-based industrial automation company, launched the Blade Series, a new line of compact industrial 1D code readers designed to provide cutting-edge traceability for the packaging and intralogistics industries. It features a solid-state 1920x128 pixel camera sensor, advanced lighting, and high-precision 1-dimensional decoding. It consistently detects labels despite discoloration, damage, wear, or low quality.

The identification (ID) barcode readers in factory automation market covered in this report is segmented -

1) By Technology: Quick Response (QR) Or Barcode Recognition, Object Recognition, Facial Recognition, Pattern Recognition, Optical Character Recognition
2) By Offering: Hardware, Software, Services
3) By Deployment: Cloud, On-Premise
4) By Application: Augmented Reality, Scanning And Imaging, Security And Surveillance, Marketing And Advertising, Image Search
5) By End Use: Automobile And Transportation, Banking, Financial Services, And Insurance (BFSI), Government, Healthcare, Information Technology (IT) And Telecom, Media And Entertainment, Retail And E-Commerce, Other End Uses

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Major companies operating in the identification (ID) barcode readers in factory automation market are Hitachi Ltd., Siemens AG, Qualcomm Technologies Inc., Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell International Inc., ABB Ltd., Toshiba Corporation, Ricoh Company Ltd., Emerson Electric Co., Rockwell Automation Inc., Keyence Corporation, Omron Electronics LLC, Zebra Technologies, Cognex Corporation, Data Logic S.p.A, Jadak LLC, ECOM Instruments GmbH, Clarifai Inc., Wikitude GmbH, Custom Sensors Inc

Contents of the report:
1. Executive Summary
2. Identification (ID) Barcode Readers In Factory Automation Market Report Structure
3. Identification (ID) Barcode Readers In Factory Automation Market Trends And Strategies
4. Identification (ID) Barcode Readers In Factory Automation Market - Macro Economic Scenario
5. Identification (ID) Barcode Readers In Factory Automation Market Size And Growth
…..
27. Identification (ID) Barcode Readers In Factory Automation Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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