In-Counter Barcode Scanners Market Size, Latest Trends, Growth Status, Top Major Players And Forecast To 2033

"The Business Research Company recently released a comprehensive report on the Global In-Counter Barcode Scanners Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The in-counter barcode scanners market size has grown strongly in recent years. It will grow from $2.13 billion in 2023 to $2.30 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to the globalization of supply chains and markets, integration with point-of-sale systems, regulatory compliance, cost reduction, and inventory control.

The in-counter barcode scanners market size is expected to see strong growth in the next few years. It will grow to $3.18 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to automation in retail, advancements in AI and machine learning, growing demand for contactless solutions, increased focus on supply chain resilience, and expansion of omnichannel retail. Major trends in the forecast period include enhanced AI decoding, In-counter barcode scanners offering multi-functionality, incorporation of sustainability features, enhanced data analytics, and customization options.

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Market Drivers and Trends:

Growing penetration of e-commerce is expected to propel the growth of the in-counter barcode scanners market going forward. E-commerce refers to the online business model facilitating the exchange of goods and services through the Internet. The growing penetration of e-commerce is driven by convenience, expanding internet access, and shifting consumer preferences towards online shopping. In-counter barcode scanners are used for receiving and restocking goods, picking and packing orders, and shipping, returns, and cycle counts. These scanners help ensure accuracy and efficiency in these processes, allowing businesses to streamline their operations and reduce costs. For instance, in February 2024, according to the United States Census Bureau, a US-based government agency, in 2023, e-commerce sales were projected to reach $1,118.7 billion, marking a 7.6% (±1.2%) increase from 2022, while total retail sales saw a 2.1% (±0.4%) rise over the same period. In 2023, e-commerce sales constituted 15.4% of total sales, compared to 14.7% in 2022. Therefore, the growing penetration of e-commerce is driving the growth of the in-counter barcode scanners market.

Major companies operating in the in-counter barcode scanners market are focusing on developing innovative products, such as AI-assisted barcode readers, to gain a competitive edge in the market. An AI-assisted barcode reader refers to a barcode scanning technology that utilizes artificial intelligence algorithms to enhance the accuracy and efficiency of barcode recognition. For instance, in October 2023, Cognex Corporation, a US-based manufacturer of machine vision systems, announced the launch of the AI-Assisted Barcode Reader DataMan 380. The DataMan 380 barcode readers feature a CMOS sensor with a resolution of up to 5320 x 3032, equivalent to 16.13 MPixels, offering shutter speeds ranging from 15 µs to 200 ms. Utilizing AI-accelerated decoding, these scanners are engineered to enhance throughput by concurrently processing both 1D and 2D codes, specifically tailored for machine vision applications within logistics and manufacturing operations.

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Major Key Players of the Market:

Honeywell International Inc., Fujitsu Limited, Toshiba Corporation, Seiko Epson Corporation, Motorola Inc., NCR Corporation, Zebra Technologies Corporation, Toshiba TEC Corporation, Casio Computer Co. Ltd., Opticon, SATO Holdings Corporation, Unitech Electronics Co. Ltd., Datalogic S.p.A., Posiflex Technology Inc., TSC Auto ID Technology Co. Ltd., Newland Auto-ID Tech. Co. Ltd., ZULTEC International Co. LTD, CipherLab, Janam Technologies LLC, Socket Mobile Inc.

In-Counter Barcode Scanners Market 2024 Key Insights:

• The in-counter barcode scanners market size is expected to see strong growth in the next few years. It will grow to $3.18 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%.
• Growing E-Commerce Penetration Fuels Growth In The In-Counter Barcode Scanner Market
• Innovative AI-Assisted Barcode Readers Transforming Market Dynamics
• North America was the largest region in the in-counter barcode scanners market in 2023

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